| soa08Act {lifecontingencies} | R Documentation |
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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