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All the latest information, news and research from the Club Vita team
Retrouvez toutes les informations, nouvelles et recherches réalisées par l’équipe de Club Vita.
All the latest information, news and research from the Club Vita team
Retrouvez toutes les informations, nouvelles et recherches réalisées par l’équipe de Club Vita.
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Top Charts Canada – Life expectancy doesn’t tell the whole story
AUTHORED BY ERIK PICKETT, August 2020
How likely is a 65 year old to die at the exact age of their life expectancy?
Fairly low. The chances of a 65 year old dying in the same year predicted by their life expectancy is less than 1 in 20 (around 4%). They are much more likely to die at a different age. In particular, there is over a 50% chance they will die later than their life expectancy.
Source: Club Vita analysis for a 65 year old in 2020 assuming CPM Private (2014) base mortality with CPM-B improvements
Over-reliance on life expectancy figures has the danger of over simplifying the challenges of financial planning for the future. Even if we ignore different factors that influence how long someone is expected to live, such as affluence, lifestyle and health, there is still a whole range of possible outcomes (shown below).
Source: Club Vita analysis for a 65 year old in 2020 assuming CPM Private (2014) base mortality with CPM-B improvements
How can individuals plan for such an uncertain future?
Erik Pickett, Chief Product Officer, Club Vita