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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
Life expectancies are improving any other the Behind the UK's women were the USA (down from 11 weeks to just two), the Netherlands (down from 13 weeks to seven), and Portugal (down from 15 weeks to 10).
Unsurprisingly, the countries with the lowest life expectancies all have high levels of poverty.
This might be due to the fact that life expectancies of patients at the ends of the spectrum, who are immediately sick or relatively healthy, are easier to assess as they are on more defined paths of well-being, a phenomenon that can be described as a "horizon effect;" however, moderately sick patients tend to occupy a grey zone of well-being and thus their life expectancy becomes a challenge to predict.
The difference in life expectancies reported by the 3 firms, Best said, ranged from 8 months to as many as 24.
Among those who try to sell their life policies, 60% have life expectancies from six to 12 years.</p> <pre> Life Expectancy (LE) % of Insured in LE Category LW<=36 months
This would enable the co-beneficiaries to use their own life expectancies without having to use the age of the oldest, but only if the IRA owner dies before his required beginning date.
But with life expectancies increasing, cash settlements for people with AIDS are decreasing: Whereas settlements of 80% to 90% of the value of a life insurance policy were common two or three years ago, today the average figure is closer to 50% or 60%.
vegetables, could contribute their high life expectancies, while Sierra remains one of poorest countries in the which causes issues.
LIFE EXPECTANCIES in developed nations are expected to keep heading toward the century mark, though such gains appear to be lagging behind in the U.S.
Women who were parents at age 60 had life expectancies of about 24.6 years while those who did not have kids life expectancies dropped to 23.1 years.
Life expectancies for the South Wales communities all fell well below the average for Wales, which is 78.2 years for men and 82.2 years for women.
LIFE EXPECTANCY REPORTS are an important part of the life settlement process, and increasingly a growing concern as investors and other players in the transaction are seeing the effects of variances in life expectancies on the pricing of policies in the secondary markets.