13:11
lawguy we're nearly stats twins :D
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Simple English definitions for legal terms
actuarial table
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A quick definition of actuarial table:
An actuarial table is a chart that shows how long people are expected to live based on different factors like their age, family history, and exposure to certain chemicals. It is used to help predict how long someone might live and is often used in legal cases. It is also called an expectancy table, mortality table, or mortuary table. It is similar to a life table.
A more thorough explanation:
An actuarial table is a chart that shows statistical data about life expectancies for people in different categories. These categories can include age, family history, and exposure to certain chemicals or substances. Actuarial tables are often used in legal cases and insurance policies to help determine risk and potential outcomes.
For example, an actuarial table may show that a person who is 65 years old has an average life expectancy of 20 more years. This information can be used by insurance companies to determine premiums for life insurance policies. It can also be used in legal cases to help determine damages in cases where a person's life expectancy has been shortened due to negligence or exposure to harmful substances.
Overall, actuarial tables provide important information about life expectancies and can be used in a variety of settings to help make important decisions.