Welcome to the Actuaries Longevity Illustrator

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Why Longevity?

Financing your retirement can be complicated, and there are many factors that must be taken into account. One of the most important factors, which is sometimes misunderstood, is longevity—that is, how long you might live. This is different from your life expectancy, which is how long an individual of your age, gender, and health would be anticipated, on average, to live.

R. Dale Hall, FSA, MAAA, CERA, managing director of research for the SOA Research Institute discusses longevity and demonstrates the Actuaries Longevity Illustrator in a PBS Be Smart segment.

There is a significant chance that you will live for many years beyond the average, and you should consider this possibility when thinking about your retirement. The Actuaries Longevity Illustrator (“ALI”) has been developed as an educational tool by the American Academy of Actuaries and the Society of Actuaries to help you gauge what those chances are. Reflecting on your longevity will allow you to consider the risks of outliving your financial resources, i.e., the chance of running out of money during your lifetime, which we refer to as retiree financial longevity risk . The ALI helps you to consider those risks by letting you see how long you might live. Take a look. You might be surprised by the results!

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If your retirement plans involve two people, the considerations become even more complex. The ALI addresses two crucial concerns: “How long can we expect to live as a couple?” and “By how many years might one of us outlive the other?”

How it works

With information you provide based on a few questions about your health, smoking habits, and demographic characteristics, the ALI will produce tables and graphs showing the likelihood that you (and your spouse/partner, if applicable) may live to certain ages. In addition, the ALI provides information on the number of future years that you might expect to live, as opposed to living to certain ages. The tables and graphs can be used to help you understand your potential retiree financial longevity risk.

How This Tool Works

Answer Questions

1. Answer Questions

Answer a few simple questions about you and your spouse or partner, if applicable.

Calculate

2. Calculate

This tool calculates probabilities that you (and your spouse or partner, if applicable) may live to different ages.

View Results

3. View Results

Results are displayed in tables and graphs that can help you understand your potential risk of running out of money in retirement.

Let's Begin

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By using the American Academy of Actuaries and Society of Actuaries Research Institute Longevity Illustrator (“Tool”), as defined below, you agree to these Terms and Conditions of Use (“Terms of Use”).

  1. DEFINITIONS
    The “Tool” shall mean the calculator of probabilities of longevity and all accompanying graphs, tables and text provided by the American Academy of Actuaries (the “Academy”) and Society of Actuaries Research Institute (“SOA”) designed to provide individuals with perspectives on their longevity to be used online and any upgrades from time to time and any other software or documentation which enables the use of the Tool.

  2. DATA PROTECTION
    The website hosting the Tool may collect aggregate information about you and your use of the Tool and website, and send that to the Academy and the SOA. The Academy and SOA may use this information to provide the services and improve our products and services in accordance with our Privacy Policy. The personal data provided to the Tool will not be collected, stored or used by the Academy or the SOA in any manner whatsoever. Your use of the Tool operates as your consent to these practices.

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    All trademarks, copyright, and other intellectual property rights of any nature in the Tool together with the underlying software code are owned either directly by the Academy and the SOA or by its licensors. The Academy and the SOA grant you a worldwide, non-exclusive, royalty-free, revocable license to use the Tool for personal and/or educational, non-commercial use only, in accordance with these Terms of Use, provided you identify the source of the material.

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    You will not, nor allow third parties on your behalf, to (i) make and distribute copies of the Tool; (ii) attempt to copy, reproduce, alter, modify, reverse engineer, disassemble, decompile, transfer, exchange or translate the Tool; (iii) create derivative works of the Tool of any kind whatsoever; (iv) use the Tool in any unlawful manner, for any unlawful purpose, or in any manner inconsistent with these Tool terms, or act fraudulently or maliciously for example by hacking into or inserting malicious code into the Tool or other operating systems; (v) or use the Tool in a way that could damage, disable, overburden, impair or compromise the Academy or the SOA, its systems or security or interfere with other users.

    The Tool is currently made available to you for your personal and/or educational, non-commercial use. The Academy and the SOA reserve the right at any time and for any reason, to (i) amend or withdraw the Tool, (ii) change the terms and conditions upon which the Tool is provided, (iii) charge for the Tool or service provided to you in accordance with these Tool terms, (iv) or, without notice, terminate or otherwise limit your access to the Tool in the event that we believe that you are in breach of or have failed to comply with any of the Tool terms.

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  7. DISCLAIMER OF WARRANTIES
    You assume full responsibility for using the information provided through the Tool. The Academy and the SOA make no warranty, guarantee, or representation as to the accuracy or sufficiency of the information provided through the Tool. The Academy and the SOA disclaim all responsibility for any party’s use or misuse of the Tool and for any work product generated through use or misuse of the Tool.

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