| the probable number of years remaining in the life of an individual or class of persons determined statistically, affected by such factors as heredity, physical condition, nutrition, and occupation. |
| life expectancy n. The number of years that an individual is expected to live as determined by statistics. |
Life Expectancy
1. The age until which a person is expected to live.
2. The remaining number of years an individual is expected to live, based on IRS issued life expectancy tables. The life expectancy, for required minimum distribution (RMD) calculation purposes, is determined by the current age of the individual.
Investopedia Commentary
1. Also referred to as the average life span. It is used mainly by insurance companies to determine your premium.
2. The IRS life expectancy tables are used to calculate the RMD for retirement account owners and their beneficiaries.
Related Links
A Look At Single-Premium Life Insurance
Buying Life Insurance: Term Versus Permanent
Avoiding RMD Pitfalls
See also: Beneficiary, Internal Revenue Service - IRS, Life Insurance, Required Minimum Distribution - RMD
life expectancy n.
The number of years that one is expected to live as determined by statistics.