SOA Illustrative Life Table

This dataset is intended for reproducible examples, internal validation, and benchmark tests for life-contingency functions such as annuity_x, insurance_x, premium_x, reserve_x, annuity_xy, insurance_xy, premium_xy, and reserve_xy.

Usage

soa08lt

Format

A tibble with one row per integer age and the following columns:

x

Integer actuarial age.

lx

Number of lives surviving to exact age x.

dx

Number of deaths between exact ages x and x + 1.

qx

One-year probability of death between exact ages x and x + 1.

px

One-year probability of survival from exact age x to x + 1.

Source

Society of Actuaries illustrative life table, commonly referenced in Bowers et al. (1997), Actuarial Mathematics, Appendix 2A.

Details

A tidy version of the Society of Actuaries illustrative life table commonly used in life-contingencies examples and benchmark calculations.

The table is included as a convenient benchmark table for actuarial calculations. The build script in data-raw/soa08lt.R constructs this tidy dataset from the SOA illustrative actuarial table object distributed in the lifecontingencies package.

The column names already follow the compact actuarial notation used in tidyactuarial: x for age, lx for lives, dx for deaths, qx for one-year death probability, and px for one-year survival probability.

References

Bowers, N. L., Gerber, H. U., Hickman, J. C., Jones, D. A., and Nesbitt, C. J. (1997). Actuarial Mathematics. Second edition. Society of Actuaries.

Spedicato, G. A. (2013). The lifecontingencies package: performing financial and actuarial mathematics calculations in R.

Examples

data(soa08lt)
head(soa08lt)
#> # A tibble: 6 × 5
#>       x      lx     dx       qx    px
#>   <int>   <dbl>  <dbl>    <dbl> <dbl>
#> 1     0 100000  2042.  0.0204   0.980
#> 2     1  97958.  132.  0.00134  0.999
#> 3     2  97826.  120.  0.00122  0.999
#> 4     3  97707.  110.  0.00112  0.999
#> 5     4  97597.  102.  0.00104  0.999
#> 6     5  97495.   95.3 0.000977 0.999

annuity_x(
  lt = soa08lt,
  x = 65,
  i = 0.06,
  timing = "due"
)
#> [1] 9.896928