Yearly Probability of Living
Is a company: no
Is a proper noun: no
- chances of living
- life-expectancy data
- statistical data
- possibility of surviving
Definition of Yearly Probability of Living
- The statistical probability that a person of a given age and gender will live to see their next birthday. The yearly probability of living can be determined by checking a mortality table. For example, a 65 year old male has a 98.3% probability of living, whereas a 80 year old man has a 93.6% probability of living.
Related Terms and Acronyms
- Ultimate Mortality Table — Definition,
- A mortality table that does not include information from people who have been approved for life insurance recently.
- Underlying Mortality Assumption — Definition,
- A measurement of death rates that is used to estimate pension obligations and insurance premiums.
- Survival Analysis — Bank,
- A statistical analysis of how likely someone or something will survive to a set date.
- Yearly Probability of Dying — Definition,
- The likelihood that an individual of a certain age and gender will die within a year.
- Mortality Rate — Definition,
- A measurement of how many people in a particular population set and in a particular period of time die.
- 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.
- Selection Bias — Bank,
- A statistical error made when non-random data is added into a dataset.
- Morbidity Rate — Definition,
- A measurement of how prevalent a medical condition or disease is.
- 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.