- Actuarial Life Table
A table or spreadsheet that shows the probability of a person at a certain age dying before his or her next birthday. These statistics calculate the remaining life expectancy for people at different ages and the probability of surviving a particular year of age. Because men and women have differing mortality rates, an actuarial life table is computed for separately for men and women.
Also called mortality table, life table or actuarial table.
Insurance companies utilize actuarial life tables to help price products and project future insured events. Mathematically and statistically based actuarial life tables assist by showing event probabilities, such as death, sickness and disability. An actuarial life table can also include factors to differentiate variable risks such as smoking, occupation, socio-economic status and even gambling and debt load. Computerized predictive modeling allows actuaries the ability to calculate for a wide variety of circumstances and probable outcomes.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
Life table — 2003 US mortality table, Table 1, Page 1 In actuarial science, a life table (also called a mortality table or actuarial table) is a table which shows, for each age, what the probability is that a person of that age will die before his or her next … Wikipedia
life table — an actuarial presentation of the ages at which a group of males and/or females will die and from which mean life expectancy at any age can be estimated, based on the assumption that mortality patterns current at the time of preparation of the… … Medical dictionary
life table — an actuarial presentation of the ages at which a group of males and/or females are expected to die and from which mean life expectancy at any age can be estimated, based on the assumption that mortality patterns current at the time of preparation … The new mediacal dictionary
Life Quality Index — The Life Quality Index (LQI) is a compound social indicator of human welfare that reflects the expected length of life in good health and enhancement of the quality of life through access to income. The Life Quality Index combines two primary… … Wikipedia
Actuarial science — are professionals who are qualified in this field through examinations and experience. Actuarial science includes a number of interrelating subjects, including probability and statistics, finance, and economics. Historically, actuarial science… … Wikipedia
Actuarial notation — 1. net single premium of insurance (benefit 1 unit) 2. paid at the moment of death 3. for x year old person, for n years 4. life insurance 5. deferred (m year) 6. with double force of interestActuarial notation is a shorthand method to allow… … Wikipedia
Actuarial present value — In actuarial science, the actuarial present value of a payment or series of payments which are random variables is the expected value of the present value of the payments, or equivalently, the present value of their expected values.This applies… … Wikipedia
Life expectancy — This article is about the measure of remaining life. For the Dean Koontz novel, see Life Expectancy (novel). For List of countries by life expectancy, see List of countries by life expectancy. Life expectancy is the expected (in the statistical… … Wikipedia
Actuarial reserves — An actuarial reserve is a liability equal to the net present value of the future expected cash flows of a contingent event. In the insurance context an actuarial reserve is the present value of the future cash flows of an insurance policy and the … Wikipedia
Actuarial topics — This page represents a collection of topics which relate to Actuarial Science.General Actuarial Topics* Actuarial science * Actuary * Actuarial notation * Fictional actuariesMathematics of Finance* Financial mathematics* Interest * Time value of… … Wikipedia