The Application of Life Table Methodology to Risk Appraisal

Abstract

The purpose of this chapter is to present highly condensed descriptions of (1) life table methodology as used in follow-up (FU) studies, (2) the principal types of life table used as a standard or yardstick for comparative mortality, (3) an example of an FU study from which the indices of comparative mortality and survival may be derived by time elapsed, (4) an example of an FU study from which annual mortality rates may be averaged over multiple years elapsed, (5) mean age and estimate of mean expected mortality rate in cohorts with a wide range of age, (6) conversion of mortality ratios to a numerical rating, and relation of the excess death rate (EDR) to flat extra premiums, (7) life expectancy in medicolegal work and structured setdements, and (8) estimating statistical significance. It is important for the risk selection expert (whether a medical director (MD), lay underwriter, actuary or other specialist) to be able to examine, analyze and manipulate life table data with facility. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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