Actuarial Age


Actuarial Age
An individual's life expectancy based on calculations and statistical modeling. Actuaries use mathematical and statistical computations to predict a person's life expectancy, or his or her actuarial age, to assist insurance companies with pricing, forecasting and planning. For instance, knowing a person's actuarial age will help determine the most appropriate payments from an annuity.

A person's actuarial age is the age to which mathematical and statistical modeling indicate a person will live. The actuarial age reflects factors such as health and serious medical conditions. Actuaries assess risk for insurance companies and use computerized predictive modeling to project probable outcomes for a wide variety of circumstances.


Investment dictionary. . 2012.

Look at other dictionaries:

  • actuarial tables — n. Statistical tables that predict the likely ages that people will reach; used for such purposes as calculating the value of annuities or damages stemming from premature deaths; also called life tables The Essential Law Dictionary. Sphinx… …   Law dictionary

  • Actuarial escape velocity — is a concept first publicly proposed by David Gobel, founder of the Methuselah Foundation. It refers to a point in time at which the acceleration of advances in biomedical technology surpass the rate at which humans age in other words, the point… …   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

  • Actuarial Society of India — The Actuarial Society of India, known as the ASI Or Intstitute of Actuaries of India known as IAI, is the sole professional body of actuaries in India, and was formed in September 1944.Registration of the ASIIn 1979, it was admitted to the… …   Wikipedia

  • 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… …   Investment dictionary

  • actuarial — actuary ac‧tu‧a‧ry [ˈæktʆuəri ǁ tʆueri] noun actuaries PLURALFORM [countable] INSURANCE JOBS someone whose job is to calculate risks, in order to advise insurance companies or pension fund S …   Financial and business terms

  • Actuarial Adjustment — A revision made to reserves, premiums and other values based on a company s actual loss experience as well as expenses and expected benefits to be paid. In pension arrangements, actuarial adjustments are made to the retirement benefits when an… …   Investment dictionary

  • Actuarial Assumption — An actuarial assumption is an estimate of an uncertain variable input into a financial model, normally for the purposes of calculating premiums or benefits. For example, a common actuarial assumption relates to predicting a person s lifespan,… …   Investment dictionary


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.