Yearly Probability of Living

Importance: 0.43

Is a company: no

Is a proper noun: no

Synonyms

  • chances of living
  • life-expectancy data
  • statistical data
  • possibility of surviving

Definition of Yearly Probability of Living

  1. 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.
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