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Actuarial notation is a shorthand method to allow actuaries to record mathematical formulas that deal with interest rates and life tables. Traditional notation uses a halo system, where symbols are placed as superscript or subscript before or after the main letter. Example notation using the halo system can be seen below.
A fact from Actuarial notation appeared on Wikipedia's Main Page in the Did you know column on 24 July 2004. The text of the entry was as follows: Did you know... that actuarial notation uses a halo system with superscript or subscript symbols placed before or after the main letter? A record of the entry may be seen at Wikipedia:Recent ...
De Moivre's law first appeared in his 1725 Annuities upon Lives, the earliest known example of an actuarial textbook. [6] Despite the name now given to it, de Moivre himself did not consider his law (he called it a "hypothesis") to be a true description of the pattern of human mortality.
In actuarial science and demography, a life table (also called a mortality table or actuarial table) is a table which shows, for each age, the probability that a person of that age will die before their next birthday ("probability of death"). In other words, it represents the survivorship of people from a certain population. [1]
The actuarial present value (APV) is the expected value of the present value of a contingent cash flow stream (i.e. a series of payments which may or may not be made). Actuarial present values are typically calculated for the benefit-payment or series of payments associated with life insurance and life annuities .
In insurance, an actuarial reserve is a reserve set aside for future insurance liabilities. It is generally equal to the actuarial present value of the future 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 total liability of the insurer ...
The following outline is provided as an overview of and topical guide to actuarial science: Actuarial science – discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries.
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