Life expectancy

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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.

Life Expectancy

The length of time the average person is anticipated to continue living. An insurance company may use the "official" life expectancy of a person at a certain age in determining the risk of a life insurance policy or annuity. Likewise, the IRS uses the average life expectancy to determine the required minimum distribution from IRAs. Often, the official life expectancy has only a rough relationship with an individual person's actual life expectancy.

Life expectancy.

Your life expectancy is the age to which you can expect to live. Actuarial tables establish your official life expectancy, which insurance companies use to evaluate the risk they take in selling you life insurance or an annuity contract.

The Internal Revenue Service (IRS) also uses life expectancy to determine the distribution period you must use to calculate minimum required distributions from your retirement savings plans or traditional IRAs.

However, your true life expectancy, based on your lifestyle, family history, and other factors, may be longer or shorter than your official life expectancy.

References in periodicals archive ?
In China, the average lifespan was only 42 years as recently as 1950 - but then it began increasing by six months per year, so that the average Chinese citizen can now expect to live to 75 years.
He begins his book with the story of a young officer who died after six weeks and four days, four days over the average lifespan of a junior officer on the Western Front during the worst weeks of the war.
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The Assembly Government statistics show men in Ceredigion can expect to live to an average age of 80.4 - while their counterparts in Merthyr Tydfil have an average lifespan of just 74.6, nearly three years below the average male life expectancy in Wales.
Abolishing the fixed default retirement age will give people more choices as the average lifespan increases, but the change also means people will pay taxes longer, a revenue raising benefit that could help address the country's record deficit.
For men, average lifespan rose to 79.59 years last year, but fell to fifth
Requiring approximately 80 labor hours per unit to manufacture, the Company's products are widely recognized as the longest-lasting and highest quality in the market, with an average lifespan exceeding 10 years.
The average lifespan in China is now 73 (it was only 41 in 1949); many parts of the country have no pension plan--this is where the son supporting his aged parents comes in--and those which do, e.g.
And Deborah Arnott, head of the anti-smoking pressure group ASH, warned: "Half of all smokers will die before they quit." Long-term puffing knocks about 10 years off an average lifespan.
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The average Israeli man can expect to live 78 years, higher than in other developed countries except for Iceland, where the average lifespan is 79.2 years, and Japan, Switzerland, Sweden and Australia, where men live a few months longer than in Israel.
Most asphalt and concrete runways have an average lifespan between 16 and 20 years, says Proulx.