Life expectancy is a calculation of the amount of time a person is expected to live, often using actuarial tables based upon multiple factors like age, health, origin, wealth, or gender. Life expectancy arises in many legal circumstances including life estates, calculating damages for torts, or regulating retirement distributions. Also, life expectancy plays a major role in the calculation of costs by life insurance companies.
[Last updated in March of 2022 by the Wex Definitions Team]
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