Mortality And Expense Risk Charge

This one has to be related to insurance, right? What other industry deals directly with death, risk, and charging people?

Yep. This term does indeed come up in the insurance industry. Specifically, it represents an expense related to annuities. The sum, charged annually to annuity customers, is meant to repay the insurer for taking on the risk that the firm will have to pay death benefits for the customer (you know, if they should die during that year), and for other expenses related to carrying out the contract.

The charge is typically priced on a percentage basis relative to the value of the annuity. It averages about 1.25% for the value, though the cost in any individual year depends on the circumstances. The fee tends to be less when early in the annuity agreement (as the recipient isn't as likely to die when they're younger) and escalates from there.