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2003 US mortality table, Table 1, Page 1. 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").
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.
The Ogden tables (Actuarial Tables with explanatory notes for use in Personal Injury and Fatal Accident Cases) are a set of statistical tables and other information for use in court cases in the UK. Their purpose is to make it easier to calculate future losses in personal injury and fatal accident cases.
Fixed annuities also use actuarial tables to project your life span. If you outlive your projected lifetime–a lifetime fixed annuity will continue paying out–making it a good way to guarantee ...
Insurance companies use actuarial tables to calculate payouts, offering larger amounts to those with a shorter life expectancy to balance their risk.
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 .
Another example is the use of actuarial models to assess the risk of sex offense recidivism. Actuarial models and associated tables, such as the MnSOST-R, Static-99, and SORAG, have been used since the late 1990s to determine the likelihood that a sex offender will re-offend and thus whether he or she should be institutionalized or set free. [9]
Buffett explained his diet in a 2015 interview with Fortune: "I checked the actuarial tables, and the lowest death rate is among 6-year-olds. ... Use resources that are already available to you to ...