Mortality mistakes too common say actuaries

The Institute and Faculty of Actuaries' Longevity Bulletin, argues that period life expectancy, commonly quoted as the average number of additional years a person can be expected to live for, is not realistic as it assumes mortality rates are frozen to that time period. Alison O'Connell, editor of the Bulletin, said: "Period life expectancy does not take into account likely future mortality changes, needed to produce a realistic picture of future lifespans. "Instead, cohort life expectancy, increasingly used by actuaries, demographers and policy makers, does make an allowance for ho...