A life table model refers to a statistical tool used in demography and actuarial science to study the patterns and characteristics of mortality and survival rates in a population. It is a mathematical representation of mortality probabilities and offers insights into the life expectancy and overall life cycle of a particular group.
This model is constructed by analyzing the data collected from a specific population over a considerable period of time, typically using census or survey data. The life table model is divided into different age cohorts, usually in single-year increments, allowing for a detailed assessment of mortality rates at each stage of life.
The key measure derived from a life table model is the probability of surviving to a specific age, often expressed as the life expectancy at birth. These tables provide valuable information about mortality patterns, allowing policymakers and researchers to predict population dynamics, determine appropriate health interventions, and evaluate the impact of certain factors on mortality rates (such as diseases, medical advancements, or social changes).
Additionally, a life table model can be used to calculate various demographic indicators, including age-specific death rates, probabilities of dying or surviving at certain ages, and median ages at death. It serves as a fundamental tool in population studies, enabling comparisons between different populations and helping in the planning and evaluation of public policies related to healthcare, pensions, insurance, and resource allocation.
