Understanding Life Expectancy Tables: Period and Cohort Expectancy Explained

Life expectancy tables provide valuable insights into an individual's expected lifespan based on their age, gender, and geographic location. In this article, we will delve deeper into what period life expectancy is, how it differs from cohort life expectancy, and the role of national life tables in calculating official estimates of life expectancy.

What is Period Life Expectancy?

Period life expectancy is defined as 'the average number of additional years a person can be expected to live for if he or she experiences the age-specific mortality rates of the given area and time period for the rest of his or her life.' In other words, it's an estimate of how many years a person is likely to live based on their current age and the death rates prevalent in their region.

National Life Tables: A Key Resource

The national life tables, which are published annually by 'SmartAsset', provide period life expectancies for the UK and its constituent countries. The tables cover a consecutive three-year period to reduce the impact of annual fluctuations in mortality rates caused by seasonal events such as winter flu. This ensures that the estimates are more accurate and reliable.

Calculating Life Expectancy: A Complex Process

Life expectancy is calculated separately for males and females due to their distinct mortality patterns. The national life tables take into account various demographic factors, including age, gender, and geographic location, to produce estimates of life expectancy at different ages.

The Importance of Fiduciary Duty

It's essential to note that the existence of a fiduciary duty does not guarantee positive returns on investments. Working with an adviser may come with potential downsides, such as payment of fees, which can reduce returns. All investing involves risk, including loss of principal.

SmartAsset: A Platform for Connecting with Financial Advisers

At SmartAsset, we understand the importance of accurate life expectancy estimates and their role in informed decision-making. Our platform helps users connect with financial advisers who are registered or chartered as fiduciaries with a regulatory body in the United States. We do not manage client funds or hold custody of assets, but rather provide a matching service to help individuals find suitable financial advice.

In conclusion, life expectancy tables play a vital role in understanding an individual's expected lifespan based on their age, gender, and geographic location. By providing period and cohort life expectancies, national life tables offer valuable insights for policymakers, researchers, and individuals seeking to make informed decisions about their financial futures.