mortality table
Quick Summary
A mortality table, also known as a life table, is an actuarial tool based on mortality statistics collected over several years. It summarizes the distribution of longevity observed within a population. This statistical device is fundamental for calculating life expectancy, which is an estimate of the average number of additional years a person of a given age can expect to live.1234
Mortality tables are constructed using data on age-specific death rates, which are derived from census and vital statistics. These tables are crucial for industries like life assurance, enabling the calculation of premiums by pooling resources to provide financial benefits to heirs. A "select mortality table" is based on medically selected lives, while an "aggregate mortality table" includes both selected lives and those from whom the effect of selection has been removed.4356
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