Life annuities may be either temporary life annuities or
whole life annuities. Both kinds have many practical uses in actuarial
calculations. In a temporary life annuity, each payment is made only if a
designated person is then alive, but the payments are limited to a fixed number
of years. In a whole life annuity, the payments continue for the entire
lifetime of a designated person.

# All about actuarial science

## Monday, April 30, 2012

## Friday, April 27, 2012

### PROBABILITIES INVOLVING MORE THAN ONE EVENT

Probabilities involving more than one event may be
calculated using the Addition Rule and Multiplication Rule. Those are as
follows:

### PRESENT VALUE OF A LIFE ANNUITY

As stated earlier, an annuity is a series of payments and
the present value of the annuity is the total of the present values of each of
the individual payments. To find the present value of a series of payments where
each payment is made only if the designated payer or recipient is alive to pay
or receive it, we can now use the method for calculating the present value of a
single payment.

**: The present value at age 35 of a life annuity of $100 per year for three years (with the first payment due at age 36) can be represented by the following line diagram:**

*For Example*## Thursday, April 19, 2012

### LIFE ANNUITIES

In this topic, you will begin to learn how life insurance
companies make important calculations which combine the principles of compound
interest and probability. In a life insurance company, annuity contracts
represent payments being made only if a person is alive, while life insurance
contracts represent payments being made only when a person dies. We will
explain how to calculate the present value and the accumulated value of life
annuity payments, that is, payments which are contingent on a designated person
being alive.

Present and accumulated values for life annuities can be
calculated in a manner quite similar to the method for annuities. We will begin
by considering the present value and accumulated value of a single payment.

### THE CENSUS OPERATION

In any country census is conducted within the frame work
established by registration. Whether a census covered the entire population of
a nation or on the some segments there off, it involve the following step.

### DEMOGRAPHY

Demography is the science of
human population. A Belgian name of ACHILE GLUILLARD first used the term in
1855 when he published his book in FRENCH named “Elements of Human Statistics
or Comparative Demography”. He defines it as the natural and social history of
the human species or the mathematical knowledge of population, of their general
changes and of their physical civil intellectual and moral conditions.
Population analysis is more or less used as synonymous to demography. However
population analysis has more mathematical and numerical analysis. The term
demography has been derived from two Greek words DEMOS meaning to human
population and GRAPHY means to measured. Demography has further defined in
different senses and levels. We have narrowest sense, broadest sense and widest
sense.

## Friday, April 13, 2012

### PROBABILITIES OF DYING

The probability that one of the events will happen is the
total of the probabilities of each individual event happening.

**(Probability of living 1 year) + (Probability of Dying Within 1Year) = (Probability of Either Living or Dying That Year)**

Symbols can be substituted for each of the above
expressions, as follows:

Substitute

*p*for (Probability of Living 1 Year)_{x}
Substitute

*q*for (Probability of Dying within 1 Year)_{x}
Substitute 1 (certainty) for (Probability of Either Living
or Dying That Year)

Consequently, the equation is

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