soa08Act: Society of Actuaries Illustrative Life Table with interest...

In lifecontingencies: Financial and Actuarial Mathematics for Life Contingencies

Society of Actuaries Illustrative Life Table with interest rate at 6

Description

An object of class actuarialtable built from the SOA illustrative life table. Interest rate is 6

Usage

data(soa08Act)

Format

Formal class 'actuarialtable' [package "lifecontingencies"] with 4 slots ..@ interest: num 0.06 ..@ x : int [1:141] 0 1 2 3 4 5 6 7 8 9 ... ..@ lx : num [1:141] 100000 97958 97826 97707 97597 ... ..@ name : chr "SOA Illustrative Life Table"

Details

This table is a blend of Makeham's mortality law for ages 13 and above and some ad hoc values for ages 0 to 12.

The parameters for Makeham's mortality law are

1000 * mu(x) = 0.7 + 0.05 * 10^(0.04 * x)

where mu(x) is the force of mortality.

The published Illustrative Life Table just shows ages 0 to 110 but in the computing exercises of chapter 3 the authors explain that the table's age range is from 0 to 140.

References

Actuarial Mathematics (Second Edition), 1997, by Bowers, N.L., Gerber, H.U., Hickman, J.C., Jones, D.A. and Nesbitt, C.J.

Examples

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	data(soa08Act)

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lifecontingencies documentation built on July 9, 2023, 6:10 p.m.