Page 150 - DCOM309_INSURANCE_LAWS_AND_PRACTICES

Unit 8: Life Insurance

The essential features of the table are the two columns of the number living and the number Notes
dying at designated ages. It is assumed that a group of 100,000 persons comes under observation
at exactly the same moment as they enter upon the tenth year of life. Out of this group, 749 die
during the year, leaving 99,251 to begin the eleventh year. The table proceeds in this manner to
record the number of the original 100,000 dying during each year of life and the number living
at the beginning of each succeeding year until but three persons of the original group are found
to enter upon the ninety-fifth year of life, these three dying during that year.
Table 8.1: American Experience Table of Mortality

Age Number Living at Number Dying * Yearly Probability Yearly
Beginning of Designated Year of Dying Probability of
Designated Year Surviner
10 100,000 749 .007490 .992510
11 99,251 746 .007516 .992484
12 98,505 743 .007543 .992457
13 97,762 740 .007569 .992421
14 97,022 737 .007598 .992404
15 96,285 735 .007634 .992366
16 95,550 732 .007081 .992339
17 94,818 729 .007688 .992312
18 94,089 727 .007727 .992273
19 93,362 725 .007765 .992235
20 92,637 729 .007805 .992195
21 91,914 722 .007855 .992145
22 91,192 721 .007906 .992094
23 90,471 720 .007958 .992042
24 89,751 719 .008011 .991989
25 89,032 718 .008065 .991935
26 88,314 718 .008130 .991870
27 87,598 718 .008197 .991803
28 86,878 718 .008264 .991736
29 86,160 719 .006345 .991655
30 85,441 720 .008427 .991573
31 84,721 721 .008510 .991490
32 84,000 723 .008607 .991393
33 83,277 726 .008718 .991282
34 82,551 729 .008831 .991169
35 81,822 732 .008946 .991054
36 81,090 737 .009089 .990911
37 80,353 742 .009234 .990766
38 79,611 749 .000408 .990592
39 78,862 758 .000586 .990414
40 78,108 765 .009794 .990206
41 77,341 774 .010008 .989992
42 76,567 785 .010252 .989748
43 75,782 797 .010517 .989483
44 74,985 812 .010829 .989171
45 74,173 828 .011168 .988837
Contd...

LOVELY PROFESSIONAL UNIVERSITY 145