actuarial age

Fin
the statistically derived life expectancy for any given chronological age, used, for example, to calculate the periodic payments from an annuity

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  • 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 …   Investment dictionary

  • 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

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  • 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

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