Actuarial Age

外汇网2021-06-19 13:54:52 112

An inpidual's life expectancy based on calculations and statistical modeling. Actuaries use mathematical and statistical computations to pdict 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 pdictive modeling to project probable outcomes for a wide variety of circumstances.

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