Word a day With her actuarial tables in hand, the insurance agent explained that because Jill was young and in good health, her rates for life insurance would be low. Insurance companies use lots of statistics to calculate the likelihood that youll get sick, be injured, or die, and these numbers are used to make up the actuarial formulas that determine how much youll pay for insurance and how much you can receive in benefits. It might seem kind of grim that unsurance companies would try to figure out how likely those events might be, but those actuarial considerations are important and make it possible for them to insure us in the first place.
Posted on: Wed, 15 Oct 2014 01:28:58 +0000
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