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actuary |
Also found in: Dictionary/thesaurus, Legal, Wikipedia, Hutchinson | 0.02 sec. |
actuaryOne who calculates insurance risks and premiums. Actuaries compute the probability of the occurrence of such events as birth, marriage, illness, accidents, and death. They also evaluate the hazards of property damage or loss and the legal liability for the safety and well-being of others. Usually employed by insurance companies, actuaries set premium rates based on statistical studies, establish underwriting procedures, and determine the amounts of money required to assure the payment of benefits. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| ? Mentioned in | ? References in periodicals archive | |
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The legislation
stated that premium charges "shall not be excessive, inadequate,
nor unfairly discriminatory, and shall be actuarily sound so as not to
result in a subsidy of the plan. Since then,
the only change in the social security retirement age has been to lower
it; actuarily reduced benefits have been made available as early as age
62. |
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