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Actuary.Finance
📐 What am I looking at? formulas ▶

Classic life-insurance pricing for a term policy: enter the insured's age, term, sum assured and an interest rate — get premiums and reserves computed from a standard life table (Makeham mortality).

1
Issue age / term — the insured's age at start and policy duration in years.
2
Interest rate — annual discount rate, e.g. 0.05 = 5%. This is the insurer's investment assumption.
3
Read the results — the net single premium is what the policy costs as a one-off; the annual premium is the level instalment; the reserve string shows how much the insurer must hold each year.

💡 Try: age 35, term 20, sum assured 500000, rate 0.05. Then bump age to 55 — watch the premium jump.

📐 Actuarial Calculator

Formulas from Promislow's Fundamentals of Actuarial Mathematics (3rd Ed)

Policy Parameters
Results
📐

Enter parameters and click Calculate.

📊 Life Table Chapter 3 — Standard Actuarial Tables
Age (x) lx qx μx ex
0 100000 0.005 0.005013 15.95
1 99500 1.0 0.0 15.03
5 99200 1.0 0.0 14.07
10 98900 1.0 0.0 13.11
15 98700 1.0 0.0 12.14
20 98500 1.0 0.0 11.16
25 98200 1.0 0.0 10.19
30 97800 1.0 0.0 9.23
35 97200 1.0 0.0 8.29
40 96300 1.0 0.0 7.36
45 94800 1.0 0.0 6.47
50 92700 1.0 0.0 5.6
55 89600 1.0 0.0 4.78
60 85200 1.0 0.0 4.0
65 79300 1.0 0.0 3.26
70 71000 1.0 0.0 2.59
75 60000 1.0 0.0 1.97
80 45000 1.0 0.0 1.46
85 28000 1.0 0.0 1.04
90 12000 1.0 0.0 0.76
95 3000 1.0 0.0 0.53
100 100 1.0 0.0 0.5