Actuarial Table Law and Legal Definition
An actuarial table is a statistical table arranged in rows and columns indicating the life expectancy of persons belonging to various age groups, on the basis of their age, family background and exposure to chemicals. In can also be prepared on the basis of smoking status, occupation, and socio-economic class. Sometimes it also calculates the health expectancy on the basis of available health information.
Usually an actuarial table indicates the following :
(1)the anticipation of surviving any particular year of age;
(2)remaining life expectancy of people at different ages;
(3)the proportion of the original birth friend still alive; and
(4)estimates of a friend’s long life characteristics.
An actuarial table is generally admissible in evidence. It is calculated separately for both men and women because of their considerably different mortality rates. It is also referred to as expectancy table, mortality table, mortuary table, and life table.
Actuarial table is also used in biology, product life cycle management and epidemiology.
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