actuary

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Actuary

A statistician who works for an insurance company or other organization that assesses risk. The actuary computes various risk factors and determines the likelihood of whether (or when) an event will occur. For example, an actuary will look at a person's medical information, such as height, weight, and pre-existing conditions, and mathematically determine how likely it is that the person will cost the insurance company more than he/she will pay in premiums. This helps the insurance company decide whether the person will receive coverage and, if so, what the monthly premium will be.

actuary

a statistician employed by an INSURANCE COMPANY to calculate insurance risks and premiums.

actuary

a statistician who calculates insurance risks and premiums. See RISK AND UNCERTAINTY, INSURANCE COMPANY.
References in periodicals archive ?
The freshman in all his fleshly radiance--he has the body of a hero, he is statistically larger than ever before, his fluoridated teeth are not merely actuarily, but visibly, sounder--this freshman seems pre-figured, fated.
Guidance from CMS on March 31 confirms for state Medicaid directors that state plans under DRA must maintain EPSDT's integrity, including wraparound services, and be actuarily valid.
The incentive for early retirement would be greatly reduced if future superannuation savings could only attract their present generous tax treatment if all or most of each person's entitlement had to be drawn down as an income stream, actuarily determined to continue over the remainder of the person's expected life.