Yearly Probability of Dying

Importance: 0.43

Is a company: no

Is a proper noun: no

Synonyms

  • statistical data
  • possibility of death
  • chances of dying
  • life-expectancy data

Definition of Yearly Probability of Dying

  1. The statistical probability that a person of a given age and gender will die within a year. Used in actuarial science, the yearly probability of science is determined by consulting a mortality table. For example, a 60 year old male has a 1.1% probability of dying within a year, whereas a 75 year old man has a 4.0% probability of dying.

Related Terms and Acronyms

  • Yearly Price Protection Method Bank,
    • A calculation used to determine the annual cost of protection for insurance policies with savings components.
  • Underlying Mortality Assumption Definition,
    • A measurement of death rates that is used to estimate pension obligations and insurance premiums.
  • Insurance Score Bank,
    • A score used by those in the insurance industry to determine how likely a claim will need to be paid out for an individual or entity.
  • Morbidity Rate Definition,
    • A measurement of how prevalent a medical condition or disease is.
  • Yearly Probability of Living Definition,
    • The likelihood that an individual of a certain age and gender will still be alive after a year has passed.
  • Mortality Rate Definition,
    • A measurement of how many people in a particular population set and in a particular period of time die.
  • Selection Bias Bank,
    • A statistical error made when non-random data is added into a dataset.
  • Ultimate Mortality Table Definition,
    • A mortality table that does not include information from people who have been approved for life insurance recently.
  • Actuarial Table Bank,
    • A table used in actuarial science that outlines the statistical probability that an individual of a specific age and sex will die within a year.
  • Survival Analysis Bank,
    • A statistical analysis of how likely someone or something will survive to a set date.
  • Issue Age Definition,
    • The policyholder's age when the policy was first issued, to the nearest year.
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