Select Life Tables

Free SOA Exam FAM (Fundamentals of Actuarial Mathematics) lesson in Mortality Models. 12 min read, ~1,864 words.

Selection effect: recently underwritten lives have lower mortality, which fades over the select period, so select rates rise with duration. 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...