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Age rating

\eɪʤ\ \ˈreɪtɪŋ\

A crude way of tailoring a base table to fit the characteristics of a particular population, by shifting the rates up or down by one or more years.

For example, a one year upward age rating would lead to people aged 70 being assumed to exhibit the mortality implied by the standard table for 71 year olds. The actuarial equivalent of shortening a pair of off-the-peg (off-the-rack) trousers.

Keep exploring our Lexicon of Longevity
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