Determining a client's life expectancy: a refined approach using obituary statistics

Gregg Dimkoff, Joerg Picard and Aaron Lowen

International Journal of Management Concepts and Philosophy, 2025, vol. 18, issue 2, 198-215

Abstract: When estimating their clients' life expectancies, most financial planners use mortality tables, a general rule such as age 95 or 100, or a combination of mortality tables adjusted for health and lifestyle behaviours. The authors add further refinement to estimates by using variables identified in prior research as important predictors of longer lives and analysing over 4,400 obituaries appearing in West Michigan's major newspaper. Statistical analysis of the sample shows close agreement with mortality tables for an average person, but significant differences exist for atypical individuals who were never married, had more or less than three children, and were deeply religious. The authors present a regression equation for more accurately predicting life expectancy for these individuals.

Keywords: children; clients; financial planners; lifestyle behaviours; life expectancy; married; mortality tables; obituaries; religious; sex. (search for similar items in EconPapers)
Date: 2025
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