The probability that a person age “x” will die in the next
year is represented by the symbol qx. The probability that a person
age “x” will live to reach (x + 1) is represented by the symbol “px”.
That is. P with a subscript x. it is read “p sub x” or simply “p x”. An example would be p34 which is read “p sub 34” or “p 34”. It means the probability that a person age 34 will live to
reach age 35, that is, will be alive for at least one whole year.
In general terms, it may be said that if the number living
at age (x + 1) is divided by the number living at age x, the result will be the
probability that a person age x will live to reach age (x + 1). In equation
form, this is written as: