Actuarial Table (Noun)
Meaning
A table of statistical data.
Classification
Nouns denoting groupings of people or objects.
Examples
- The insurance company used an actuarial table to determine the likelihood of a policyholder's death within a certain age range.
- Actuarial tables are essential tools for actuaries to assess and manage risk in the insurance industry.
- The actuarial table provided a detailed breakdown of mortality rates for different demographics and age groups.
- By analyzing the actuarial table, the pension fund manager could better estimate the expected lifespan of its beneficiaries.
- The actuarial table was used to calculate the present value of future benefits and determine the required funding for the retirement plan.