Life Expectancy in 2019 - Society of Actuaries

Life Expectancy in 2020

The life expectancies on the following pages were computed from various mortality tables that were built from different subsets of the U.S. population. Differences in life expectancies reflect differences in the mortality experience of each population subset. Life expectancies reflect the average experience of the population subset. About half of the people in the population subset are expected to live longer than life expectancy, and about half are not expected to survive to life expectancy. When planning for retirement, it is important to consider the likelihood of living beyond life expectancy. One page shows life expectancies for people who are age 65 in 2020. The other page shows life expectancies for people who are age 25 in 2020. Differences in life expectancy between the ages reflect two competing forces: 1. Some people who are age 25 now will not survive until age 65, which means

that if future anticipated improvements in mortality are not projected, or built into the calculations, age 65 life expectancies are generally older than age 25 life expectancies. 2. Life expectancies for people currently age 25 reflect more years for anticipated future improvements in mortality experience, which are built into life expectancy calculations. Future improvements vary by age and by the number of years into the future. Combined with mortality experience that varies by age across populations, the result can be life expectancy at age 25 being either greater or less than life expectancy at age 65.

1 Copyright ? 2020 Society of Actuaries

Life Expectancy at Age 65, 2020

Not to Scale

U.S. Population

2017 CDC

2017 SSA

86.7** 85.6* Female CDC

85.5* SSA

8855..25****

84.4*

CDC 83.9**

83.0* Male

CDC

84.1* SSA

82.9* SSA

____________ * Unprojected ** Generationally projected to 2020 and beyond with MP2019 CDC: Centers for Disease Control and Prevention Period Life Tables, Table A SSA: Social Security Administration Period Life Table

Public Pension Plans

Private Pension Plans

87.9 87.9 White Top 25% Collar Pay

86.6 Blue Collar

87.3 Female

87.3 Bottom 25% Pay

85.9

85.9 White Collar

84.7 Male

86.2 Top 25%

Pay

84.1 84.1 Blue Bottom Collar 25% Pay

Safety Employees General Employees

87.2

88.3

Below- Above-

Avg Pay Avg Pay

87.6 Female

88.2

88.8

Below- Above-

Avg Pay Avg Pay

88.4 Female

86.8

86.3

85.2

Male

84.5

87.0

Below- Above-

Avg Pay Avg Pay

85.4 Male

84.6 86.6 Below- AboveAvg Pay Avg Pay

Teachers

89.9

90.2

Below- Above-

Avg Pay Avg Pay

90.0 Female

88.7

87.6

Male

87.2

88.4

Below- Above-

Avg Pay Avg Pay

Pri-2012 Mortality Tables Exposure Draft generationally projected to 2020 and beyond

with MP-2019

Pub-2010 Mortality Tables generationally projected to 2020 and beyond with MP-2019

Individual Life Insurance (Issue Age 65)

90.1 85.4 89.0 NonSmoke Female smoke

88.3

87.6

84.6 Male Smoke

88.7 Nonsmoke

2015 Individual Valuation Basic Table (VBT)

generationally projected to 2020 and beyond with 2015

VBT Improvement Scale

Group Life Insurance

89.6 Female

87.9

86.4 Male

Estimated from SOA 2016 Group Life Insurance Experience Report,

generationally projected to

2020 and beyond with

MP-2019

Copyright ? 2020 Society of Actuaries 2

Life Expectancy at Age 25, 2020

Not to Scale

U.S. Population

2017 CDC

2017 SSA

86.2** 81.9* Female CDC

81.8* SSA

8835..65****

79.7*

79.4*

CDC 81.3** SSA

77.4* Male 77.2*

CDC

SSA

____________

* Unprojected

** Generationally projected to

2020 and beyond with MP-

2019

CDC: Centers for Disease

Control and Prevention Period

Life Tables, Table A

SSA: Social Security

Administration Period Life

Table

Public Pension Plans

Private Pension Plans

88.5 88.8 White Top 25% Collar Pay

86.7 Blue Collar

87.8 Female

87.5 Bottom 25% Pay

85.7

85.6 White Collar

83.8 Male

86.2 Top 25%

Pay

83.1 82.7 Blue Bottom Collar 25% Pay

Safety Employees General Employees

88.0

89.5

Below- Above-

Avg Pay Avg Pay

88.6 Female

88.4

90.0

Below- Above-

Avg Pay Avg Pay

89.3 Female

87.2

87.0

85.6

Male

84.1

88.0

Below- Above-

Avg Pay Avg Pay

85.3 Male

83.2 87.1 Below- AboveAvg Pay Avg Pay

Teachers

91.1

91.8

Below- Above-

Avg Pay Avg Pay

91.5 Female

90.1

88.8

Male

87.9

89.7

Below- Above-

Avg Pay Avg Pay

Pri-2012 Mortality Tables Exposure Draft generationally projected to 2020 and beyond

with MP-2019

Pub-2010 Mortality Tables generationally projected to 2020 and beyond with MP-2019

Individual Life Insurance (Issue Age 25)

89.2

83.4 Smoke

87.3 Female

Nonsmoke

87.0

86.7 83.1 Male Smoke

88.0 Nonsmoke

2015 Individual Valuation Basic Table (VBT)

generationally projected to 2020 and beyond with 2015

VBT Improvement Scale

Group Life Insurance

91.4 Female

89.3

87.4 Male

Estimated from SOA 2016 Group Life Insurance Experience Report,

generationally projected to

2020 and beyond with

MP-2019

Copyright ? 2020 Society of Actuaries 3

Probability in 2020 of Living to Age 100

65-Year-Old

25-Year-Old

0% 5% 10% 15% 20% 25% 0% 5% 10% 15% 20% 25%

Female

General

SSA, unprojected

Population

SSA, projected

Private

All Data Blue Collar

Pension

White Collar

Plans

Lowest Paid 25% Highest Paid 25%

Safety Employees

Safety >Median Pay

Public Pension

Safety Median Pay

Plans

General Median Pay

Teachers Median Pay

Public Pension

Safety Median Pay

Plans

General Median Pay

Teachers Median Pay

Public

Safety Median Pay

Plans

General Median Pay

Teachers Median Pay

Public

Safety Median Pay

Plans

General Median Pay

Teachers ................
................

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