A term used to describe computations and calculations for mortality rates and pensions.

More than is expected for present value of a pension’s future benefits or fund administration expenses. Refer to unfunded actuarial liability .

In INSURANCE, the process of modifying the PREMIUM rate and RESERVES to reflect actual loss experience.

The age an individual insured should live to based on calcuations. It helps with insurance pricing, forecasting , adn planning policy.

Predicted conditions affecting payments of insurance of pensions.

Statistics that help determine contributions periodically made to a pension. It uses earned income and total contributions to decide payment amount.

An accountint method to calculate value of future benefits, fund adminstration expenses, and assigns costs to the periods that can handle it.

In INSURANCE, a statistical measure based on the expectation that a loss will occur, and the benefits that will become payable as a result. By computing this measure, the INSURER […]

Having less or more costs than actuarial assumptions .

In INSURANCE, the pricing of RISK based on probabilities of loss occurrence constructed from statistical distributions. Actuarial pricing is used to develop PREMIUMS that are intended to cover losses from […]

The discipline that is used in risk determination . Statistics and math are used to help insurance agencies and finance companies. The individual doing this is accredited.

The ability of a benefit society to meet all of its obligations to its members or the ability of an insurance company to meet the obligations of its stockholders .

A pension whose value is determined by its assets and liabilities.

In Roman law. A notary or clerk. One who drew the acts or statutes, or who wrote in brief the public acts.

In English ecclesiastical law . A clerk that registers the acts and constitutions of the lower house of convocation ; or a registrar in a court christian . Also an […]

A mechanical device that controls power flow.

Lat. A deed; something done.

In the civil law . A species of right of way , consisting in the right of driving cattle, or a carriage, over the land subject to the servitude. Inst. […]

The act of God is hurtful to no one. 2 Inst. 287. That is. a person cannot be prejudiced or hold responsible for an accident occurring without his fault and […]

The act of God does injury to no one. 2 Bl. Comm. 122. A thing which is inevitable by the act of God, which no industry can avoid, nor policy […]

An act already begun, the completion of which depends on the will of the parties, may be revoked; but if it depend on the will of a third person , […]

A Judicial act by a judge without jurisdiction is void; but a ministerial act, from whomsoever proceeding, may be ratified. Lofft, 458.

The act of the law is hurtful to no one. An act in law shall prejudice no man. 2 Inst. 287.

The act of the law does injury to no one. 5 Coke, 110.

Acts required to be done by law do not admit of qualification . Hob. 153; Branch, Princ.