Life Expectancy in 2019 - Society of Actuaries
LIFE EXPECTANCY COMPARISON IN 2021
October 2021
Life Expectancy Comparison in 2021
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 averageexperience 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. Page 3 compares life expectancies for people who are age 65 in 2021, and page 4 compares life expectancies for people who are age 25 in 2021. 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. Pages 5?7 compare the probabilities in 2021 of people of various ages living to age 100.
Note that none of these life expectancies or probabilities reflect the impact of COVID-19.
2
Life Expectancy Comparison at Age 65, 2021
U.S. Population
2018 CDC
2018 SSA
86.6** 85.7* Female
CDC
85.6* SSA
85.1**
84.5* CDC
83.9** 83.1* Male
CDC
84.2* SSA
83.0* SSA
Private Pension Plans
87.8 87.8 White Top 25% Collar Pay
86.6 87.3
87.3
Blue Collar
Female
Bottom 25% Pay
85.9
85.8 White Collar
84.6 Male
86.1 Top 25%
Pay
84.1 84.0 Blue Bottom Collar 25% Pay
Public Pension Plans
Safety Employees General Employees
Teachers
87.1 88.2 Below- AboveAvg Pay Avg Pay
87.6 Female
86.3
85.1 Male
84.5 86.9 Below- AboveAvg Pay Avg Pay
88.1 88.7 Below- AboveAvg Pay Avg Pay
88.3 Female
86.7
85.4 Male
84.5 86.5 Below- AboveAvg Pay Avg Pay
89.7 90.1 Below- AboveAvg Pay Avg Pay
89.8 Female
88.6
87.5 Male
87.1 88.2 Below- AboveAvg Pay Avg Pay
Individual Life Insurance (Issue Age 65)
Group Life Insurance
90.2
85.4 89.0 NonSmoke Female smoke
88.4
87.7
84.7 Male
Smoke
88.8 Nonsmoke
89.5 Female
87.8
86.3 Male
CDC: Centers for Disease Control and Prevention Period Life Tables, Table A SSA: Social Security Administration Period Life Table * Unprojected ** Generationally projected to 2021 and beyond with MP-2021
Pri-2012 Mortality Tables generationally projected to 2021 and beyond with MP-
2021
Pub-2010 Mortality Tables generationally projected to 2021 and beyond with scale MP-2021
2015 Individual Valuation Basic Table (VBT) generationally projected to 2021
and beyond with 2015 VBT Improvement Scale
Estimated from SOA 2016 Group Life Insurance Experience Report, generationally projected to 2021
and beyond with MP-2021
Illustration is not to scale
3
Life Expectancy Comparison at Age 25, 2021
U.S. Population
2018 CDC
2018 SSA
82.0** 82.0* Female
CDC
86.2* SSA
79.5**
79.8* CDC
77.4** 77.4* Male
CDC
83.8* SSA
81.6* SSA
Private Pension Plans
88.3 88.5 White Top 25% Collar Pay
86.6 87.6 87.4
Blue Collar
Female
Bottom 25% Pay
85.6
85.4 White Collar
83.8 Male
86.1 Top 25%
Pay
83.1 82.8 Blue Bottom Collar 25% Pay
Public Pension Plans
Safety Employees General Employees
Teachers
87.8 89.2 Below- AboveAvg Pay Avg Pay
88.4 Female
86.8
85.5 Male
84.0 87.7 Below- AboveAvg Pay Avg Pay
88.2 89.7 Below- AboveAvg Pay Avg Pay
89.0 Female
87.0
85.1 Male
83.2 86.9 Below- AboveAvg Pay Avg Pay
90.6 91.3 Below- AboveAvg Pay Avg Pay
91.0 Female
89.6
88.4 Male
87.6 89.3 Below- AboveAvg Pay Avg Pay
Individual Life Insurance (Issue Age 65)
Group Life Insurance
89.2
83.5 87.4 NonSmoke Female smoke
87.1
86.8
83.2 Male
Smoke
88.1 Nonsmoke
90.8 Female
88.8
87.0 Male
CDC: Centers for Disease Control and Prevention Period Life Tables, Table A SSA: Social Security Administration Period Life Table * Unprojected ** Generationally projected to 2021 and beyond with MP-2021
Pri-2012 Mortality Tables generationally projected to 2021 and beyond with MP-
2021
Pub-2010 Mortality Tables generationally projected to 2021 and beyond with scale MP-2021
2015 Individual Valuation Basic Table (VBT) generationally projected to 2021
and beyond with 2015 VBT Improvement Scale
Estimated from SOA 2016 Group Life Insurance Experience Report, generationally projected to 2021
and beyond with MP-2021
Illustration is not to scale
4
Probability in 2021 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 Population SSA, projected
All Data
Private
Blue Collar
Pension
White Collar
Plans
Lowest Paid 25% Highest Paid 25%
Safety Employees
Safety >Median Pay
Public
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 General Median Pay
Teachers Median Pay
Public
Safety Median Pay
Plans
General Median Pay
Teachers Median Pay
Public
Safety Median Pay General Median Pay
Teachers ................
................
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