Introduction to Life Tables

 

Introduction to Life Tables 

Definition:

 A life table is a statistical tool used in demography and actuarial science to summarize mortality patterns in a population.

 

Purpose:

i) Provides a snapshot of mortality conditions.

ii) Helps in estimating survival probabilities for different age groups.

iii) Essential for demographic studies, insurance, and public health planning.

 

Types of Life Tables 

 There are two common types of life table:

1. Complete or Simple and  2. Abridged life table.

In complete life table age interval is a year where as in abridge life table age interval is more than one year i.e.  five or ten years (e.g., 0-1, 1-5, 5-10, etc.). A life table starts with convenient cohort (a group of persons all born at the same time) size like 100000 or 1000 known as radix. (base population). The record of life table starts at the birth of each member and continues till all have died. Most of life table consists of 8 columns with standard measures of life table functions as shown below.

 Construction of Life table

There are two types of life tables used in actuarial science.

1. The period life table represents mortality rates during a specific time period of a  certain population.

2.  A cohort (or generation) life table is used to represent the overall mortality rates of a certain population’s entire lifetime.

 

Example and Illustration

Example Life Table

Age (x)

 lx

   dx

          qx

            Lx

           T

     ex

0

100,000

  5,000

       0.05

        97,500

       7,500,000

     75.0

1

95,000

  500

       0.005

        94,750

       7,402,500

     77.8

 

Interpretation:

At birth, 100,000 individuals are considered.

By age 1, 95,000 survive, meaning 5,000 deaths occurred.

Probability of dying in the first year is q0 = 0.05.

Life expectancy at birth (e0) is estimated at 75 years.

 

Applications and Importance


Demographic Analysis:

Used to study mortality, survival rates, and population aging.

Helps in understanding life expectancy changes over time.

          

           Policy Making:

Provides data for healthcare planning and insurance premium calculations.

Used in social security planning and pension schemes.

Assists governments in resource allocation for elderly populations. 

***

   

           


 

 

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