Understand and explain features of typical mortality curves and heterogeneities in mortality.
Free SOA Exam ALTAM (Advanced Long-Term Actuarial Mathematics) lesson in Survival Models for Contingent Cash Flows. 10 min read, ~1,450 words.
Three landmarks: infant peak, accident hump near ages 18 to 25, senescent log-linear rise past age 40. Gompertz: force of mortality grows exponentially with age. Makeham adds a constant background term for accident and infectious-disease deaths. Heterogeneity sources: sex, smoking, socioeconomic class, occupation, underwriting class, ethnicity, geography. Selection wears off...
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- Example 1
- Example 2
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Learning objectives
- 1a
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