Life settlement : Are you eligible to do a life settlement?
by Guest » Tue Jan 12, 2010 07:46 am
I'm 66 and my finances are now limited. Would it be a good option to go for a life settlement?
Total Comments: 35
Posted: Tue Jan 19, 2010 07:53 pm Post Subject:
Would it be possible for you to share the updated LE tables with us over here?
Google: The Commissioner's Ordinary Standard Table of Life Expectancies
This information is pretty easy to get
Posted: Wed Jan 20, 2010 11:20 am Post Subject:
Will someone help explain if mortality rate in annuity mortality table is similar to mortality rate in life insurance mortality table?
Posted: Wed Jan 20, 2010 03:31 pm Post Subject:
They are, same tables. This means the assumptions actuaries are making when they design the pricing structure for a life policy comes from the same information used to design pricing and payout structure of an annuity.
Posted: Wed Jan 20, 2010 03:40 pm Post Subject:
Just to be on the safe side:
Actuaries are the people who calculate insurance risks for the insurance companies and the premiums required to cover those risks. Using industry data, graphs, charts, studies, and statistical data relating to life-expectancy, actuaries compute the probability of the occurrence of various contingencies of life, such as death, birth, sickness, marriage, unemployment, accidents, and retirement.
Actuaries who work in the Property and Casualty marketplace evaluate the hazards of property damage or loss and the legal liability for the well-being and safety of individuals.
Actuaries often prepare and utilize statistical studies to establish basic mortality and morbidity tables. This data is used to develop risk factors, premium rates, underwriting practices and procedures, determine the amounts of premiums required to assure the payment of benefits, analyze company earnings, and counsel with the company accounting staff in organizing records and statements. In many insurance companies the actuary is an officer of the company.
Some actuaries serve as consultants, and some are employed by large industrial corporations and governments to advise on insurance and pension matters.
Posted: Sun Jan 24, 2010 04:07 am Post Subject:
Wanted to post a copy of the CSO2001 "Ultimate" mortality table, but I can't get it below the 256kb file size as a JPG -- send me an email, and I'll send you a 118kb PDF.
Life now ends at age 121 -- at least on paper. Used to be age 100.
There will probably be a new set of annuity tables in the next few years. They are not exactly the same as the CSO mortality tables. Annuity tables typically pegged ultimate mortality at age 115 when the CSO was at 100. So I'm guessing that new annuity tables might trail out to 130 or so. The effect is to lower the payments in order to protect against an annuitant living too long.
Age 115 has worked well until now. Seems that it's the age our seniors manage to get to before the "oldest one" in Florida or California croaks on a regular basis. But the medical experts have long been suggesting that life expectancy of age 150 will not be unreasonable in the future.
Unless Congress passes a new National Health Care bill. In that event, we might be better off making friends with Jack Kevorkian.
Posted: Tue Jan 19, 2010 07:53 pm Post Subject:
Would it be possible for you to share the updated LE tables with us over here?
Google: The Commissioner's Ordinary Standard Table of Life Expectancies
This information is pretty easy to get
Posted: Wed Jan 20, 2010 11:20 am Post Subject:
Will someone help explain if mortality rate in annuity mortality table is similar to mortality rate in life insurance mortality table?
Posted: Wed Jan 20, 2010 03:31 pm Post Subject:
They are, same tables. This means the assumptions actuaries are making when they design the pricing structure for a life policy comes from the same information used to design pricing and payout structure of an annuity.
Posted: Wed Jan 20, 2010 03:40 pm Post Subject:
Just to be on the safe side:
Actuaries are the people who calculate insurance risks for the insurance companies and the premiums required to cover those risks. Using industry data, graphs, charts, studies, and statistical data relating to life-expectancy, actuaries compute the probability of the occurrence of various contingencies of life, such as death, birth, sickness, marriage, unemployment, accidents, and retirement.
Actuaries who work in the Property and Casualty marketplace evaluate the hazards of property damage or loss and the legal liability for the well-being and safety of individuals.
Actuaries often prepare and utilize statistical studies to establish basic mortality and morbidity tables. This data is used to develop risk factors, premium rates, underwriting practices and procedures, determine the amounts of premiums required to assure the payment of benefits, analyze company earnings, and counsel with the company accounting staff in organizing records and statements. In many insurance companies the actuary is an officer of the company.
Some actuaries serve as consultants, and some are employed by large industrial corporations and governments to advise on insurance and pension matters.
Posted: Sun Jan 24, 2010 04:07 am Post Subject:
Wanted to post a copy of the CSO2001 "Ultimate" mortality table, but I can't get it below the 256kb file size as a JPG -- send me an email, and I'll send you a 118kb PDF.
Life now ends at age 121 -- at least on paper. Used to be age 100.
There will probably be a new set of annuity tables in the next few years. They are not exactly the same as the CSO mortality tables. Annuity tables typically pegged ultimate mortality at age 115 when the CSO was at 100. So I'm guessing that new annuity tables might trail out to 130 or so. The effect is to lower the payments in order to protect against an annuitant living too long.
Age 115 has worked well until now. Seems that it's the age our seniors manage to get to before the "oldest one" in Florida or California croaks on a regular basis. But the medical experts have long been suggesting that life expectancy of age 150 will not be unreasonable in the future.
Unless Congress passes a new National Health Care bill. In that event, we might be better off making friends with Jack Kevorkian.
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