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Optimizing the Term of an Investigation into Decremental Rates

Published online by Cambridge University Press:  18 August 2016

G. C. Taylor
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Extract

One of the earliest problems faced by actuaries and one which has persisted to modern times is that of designing and carrying out an investigation into a certain set of decremental rates, especially mortality rates. Many investigations have been conducted with a view to the derivation of a table of mortality rates, some of them of crucial importance to the British life insurance industry. Such tables as the OM, the A1924/29 and the A1949/52 tables have been so widely known and used that mention of them is scarcely necessary. However, despite the importance of such investigations, little detailed attention has been given to methods for determining a suitable term of the experience. The OM table was derived from data covering a term of 30 years, A1924/29 from a 6-year term and A1949/52 from a 4-year term. Were these terms reasonable or not?

Type
Research Article
Information
Journal of the Institute of Actuaries , Volume 99 , Issue 1 , June 1973 , pp. 69 - 83
Copyright
Copyright © Institute and Faculty of Actuaries 1973

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