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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.
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.
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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 ...
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 ...
In actuarial science, force of mortality represents the instantaneous rate of mortality at a certain age measured on an annualized basis. It is identical in concept to failure rate , also called hazard function , in reliability theory .