“Life expectancy” is one of the most misunderstood terms in the history of misunderstood terms. Most people seem to think that it’s an estimate of how long someone will live. In fact, most countries have an “average life expectancy”; in the United States, it’s roughly 78 years.
Life expectancy, however, is a lot more than that. And there are numerous factors that directly affect life expectancy.
But what about that 78 years figure then? What is that? That’s the mortality rate.
Having established that, let’s clear the air regarding life expectancy.
Yes, life expectancy is an estimate. It is an estimate of how long a person is expected to live, based on a number of factors, which include:
- Accessibility of resources
- Quality of life
When most people think of life expectancy, they think in terms of physical health terms. However, it actually encompasses all of these factors simultaneously.
What Does Education and Quality of Life Have to do With it?
Everything is connected. Having a low income, for instance, means that people either don’t have access to, or cannot afford healthcare (as it is extremely expensive). Uneven access to these services, according to WHO, has a direct impact on life expectancy. In countries where the average income is very low, for example, the life expectancy rates are 18.1 years lower than what they are in first-world countries.
Education, similarly, is indirectly linked with life expectancy. Research shows that life expectancy is declining among low-education populations. Some have even claimed that education makes people live longer. Once we see the link, though, this isn’t too difficult to understand: good education means you have a better shot at employment, which means you’ll have better income—and better income is linked with healthy living and affordable healthcare.
How Life Expectancy Affects Life Settlements
Life expectancy is also a major factor that affects life settlements. If you use this free life insurance settlement calculator, you can get an estimate on how much your life insurance policy may be worth. Institutional buyers of life insurance policies will always consider your life expectancy before buying the policy off you.
This makes the acquisition of a Life Expectancy Certificate very important, since it plays a massive role in underwriting when you’re selling your life insurance policy.
Life Expectancy Certificate/Report
A life expectancy report is a document that helps people determine how long a person will live for. These reports are provided by life expectancy providers. In order to calculate life expectancy, these providers use math and statistics, mortality tables and knowledge of medical history.
Find Out More
You can find out more about life settlements here or talk to an expert from Prosperity Life Settlements if you are still curious about life expectancies.