ACTUARIAL EQUIVALENT
\ˌakt͡ʃuːˈe͡əɹɪəl ɪkwˈɪvələnt], \ˌaktʃuːˈeəɹɪəl ɪkwˈɪvələnt], \ˌa_k_tʃ_uː_ˈeə_ɹ_ɪ__ə_l ɪ_k_w_ˈɪ_v_ə_l_ə_n_t]\
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In INSURANCE, a statistical measure based on the expectation that a loss will occur, and the benefits that will become payable as a result. By computing this measure, the INSURER can vary the PREMIUM it charges INSUREDS. See also ACTUARIAL PRICING.
By Henry Campbell Black
Word of the day
Mustagh Range
- a mountain range in northern Kashmir; an extension of the Hindu Kush; contains 2nd highest peak