Legal Definitions - life expectancy

Life Expectancy

Life expectancy is an estimate of how long a person is expected to live based on various factors such as age, health, gender, wealth, and origin. It is often calculated using actuarial tables. Life expectancy is used in many legal situations, including determining life estates, calculating damages for torts, and regulating retirement distributions. Life expectancy is also important for life insurance companies when calculating costs.

Example 1: A 65-year-old man who is in good health and has a family history of longevity may have a life expectancy of 20 more years. This means he is expected to live until he is 85 years old.

Example 2: A woman who has a chronic illness and is a heavy smoker may have a life expectancy of only 10 more years. This means she is expected to live until she is 60 years old.

These examples illustrate how life expectancy is calculated based on various factors such as age, health, and lifestyle choices. It is important to note that life expectancy is an estimate and not a guarantee of how long a person will live.