MORTALITY TABLE Meaning and
Definition
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A mortality table is a statistical tool used by insurance companies, actuaries, and researchers to assess the likelihood of a person's death at different ages within a given population. Also known as an actuarial table or life table, it presents the probability of a person dying within a specific age range or interval.
This table typically includes various demographic factors, such as age, sex, and sometimes occupation or health conditions. By analyzing mortality rates over time, experts can determine the number of individuals expected to survive to a particular age and those who are likely to die within a specific time frame, based on existing mortality data.
Mortality tables play a critical role in the field of actuarial science, as they provide valuable insights into the life expectancy and mortality trends of specific populations. Insurance companies and pension funds use this information to calculate premiums, reserves, and benefits related to life insurance policies, annuities, and other similar financial instruments.
Furthermore, mortality tables allow researchers to study population health and trends in mortality rates for the purposes of public health planning and policy-making. These tables are continually updated to reflect changes in mortality patterns, advances in medical science, and shifting demographics, ensuring that actuarial calculations remain accurate and reliable.
Common Misspellings for MORTALITY TABLE
- nortality table
- kortality table
- jortality table
- mirtality table
- mkrtality table
- mlrtality table
- mprtality table
- m0rtality table
- m9rtality table
- moetality table
- modtality table
- moftality table
- mottality table
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- mo4tality table
- morrality table
- morfality table
- morgality table
- moryality table
Etymology of MORTALITY TABLE
The etymology of the word "mortality table" can be traced back to the Latin word "mortalitas", which means "mortality" or "death". The term "table" refers to the tabulated data or statistics represented in a structured format. Therefore, a "mortality table" is a table containing statistical information about the frequency of death or the mortality rates of a specific population or group over a certain period of time. It is commonly used in actuarial science and insurance to assess the risk of mortality.
Similar spelling word for MORTALITY TABLE
