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 ?
Those with the lowest life expectancies include Angola, the Central African Republic, Chad, Lesotho, Cote D'Ivoire, Nigeria, Somalia, South Sudan and Cameroon.
Statistics show that women almost always have higher life expectancies than men.
The mortality ratings generally issued by medical examiners for the impaired lives of this age, sex and smoking status normally would range from 300% down to 150%, which translates to life expectancies between approximately 8.
Those who don't live on or near reservations in the West have life expectancies similar to whites'.
Among those who try to sell their life policies, 60% have life expectancies from six to 12 years.
If both life expectancies are recalculated, in computing the 2000 required distribution Arnie would use the joint life expectancy for 72 and 65-22.
Life-Exchange significantly streamlines the life expectancy ordering process by allowing both brokers and providers to order life expectancies from within their online trading platform through a single click.
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.
Women who were parents at age 60 had life expectancies of about 24.
Welsh cultural and social historian Peter Stead believes South Wales' industrial past is partially responsible for the low life expectancies in the area.
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.
Probabilistic pricing formulas incorporate mortality rates rather than life expectancies and so recognize that death may occur at any future policy duration.