Select Life Tables

Free SOA Exam FAM (Fundamentals of Actuarial Mathematics) lesson in Mortality Models. 9 min read, ~1,308 words.

Selection effect: recently underwritten lives have lower mortality, fades over the select period. During select period ( ): mortality depends on both selection age and duration. After select period ( ): mortality depends only on attained age, drop the brackets. Chain survival: multiply year-by-year, switching from select to ultimate rates...