actuarial tables

Actuarial tables are statistical tools used to estimate life expectancy and the likelihood of events such as death or disability at specific ages. They are created by analyzing large amounts of data on populations to predict probabilities for individuals based on age, health, and other factors. These tables help insurance companies set premiums and manage risk accurately, ensuring financial stability for policies and pensions. Essentially, they provide a standardized way to understand and plan for future uncertainties related to human lifespan and events.