Real age-adjusted life expectancy
| Autor: | Niel Krige, Duncan Palmer |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2013 |
| Předmět: |
Actuarial science
lcsh:HB71-74 Age adjustment Ethnic group lcsh:Economics as a science medicine.disease Retirement planning Substance abuse Investment decisions real age Life expectancy medicine life expectancy pension planning National average Duration (project management) Psychology survival probability Demography |
| Zdroj: | Journal of Economic and Financial Sciences, Vol 6, Iss 1, Pp 153-166 (2013) |
| ISSN: | 2312-2803 1995-7076 |
| Popis: | This study summarises the development of a model to determine an individual’s adjusted life expectancy based on his Real Age. The model incorporates aspects such as gender, residing province, income, HIV status, ethnic background, weight, exercise, family illness history, stress, substance abuse and diet. Predicting life expectancy is vital in retirement planning for two reasons: 1) given the diverse nature of South Africa, the national average life expectancy cannot be applied to everyone; and 2) retirement duration forms a vital part in the retirement planning process. Retirees can make more informed financial investment decisions based on their Real Age, thus increasing the probability of having sufficient funds during retirement. Three representative examples of South African Real Age-adjusted life expectancies were simulated, predicting life expectancies of 67, 72 and 87 years, notably different from the 50 year average South African life expectancy. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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