Interesting Statement

[Andy the Actuary 63]

Apparently, in an argument against the use of sex-based premiums, the state of Maryland's actuary argued:

"We cannot conclude from data showing that women as a group live on average longer than men as a group that any individual woman lives longer than a man of the same age^*."

An extrapolation of this argument would suggest that using any mortality table for any individual actuarial calculation has no basis. Certainly, because a mortality table shows a 1% mortality rate at age 65 does not mean a particular individual has a 1% chance of croaking.

^*p 249, True Odds, James Walsh, Merritt Publishing, 1996.

[david rigby 435]

A pretty horrible quote from an actuary.

Perhaps that actuary has forgotten that no matter what social manipulation you push, it won't change the reality of longevity.

[jpod 264]

Sounds like someone didn't wish to risk the mortality of his or her job (pun intended).