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Life Expectancy |
Also found in: Medical, Wikipedia, Hutchinson | 0.02 sec. |
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Life Expectancy 1. The age until which a person is expected to live.
2. The remaining number of years an individual is expected to live, based on IRS issued life expectancy tables. The life expectancy, for Required Minimum Distribution calculation purposes, is determined by the current age of the individual. Notes: 1. Also referred to as the average life span. It is used mainly by insurance companies to determine your premium.
2. The IRS life expectancy tables are used to calculate the Required Minimum Distribution for retirement account owners and their beneficiaries. See also: Life Insurance, Required Minimum Distribution Life expectancy The length of time that an average person is expected to live, which is used by insurance companies use to make projections of benefit payouts. |
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