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Interesting Statement

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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.

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