Computational Actuarial Science with R

Chapter 8

Prospective Life Tables

Heather Booth

Australian National University Canberra, Australia,

Rob J. Hyndman

Monash University Melbourne, Australia,

Leonie Tickle

Macquarie University Sydney, Australia,

8.1 Introduction

Prospective life tables depend on forecasting age-specific mortality. Considerable attention has been paid to methods for forecasting mortality in recent years. Much of this work has grown out of the seminal Lee-Carter method (Lee & Carter 1992). Other extrapolative ap­proaches use Bayesian modelling, generalized linear modelling and state-space approaches. Methods for forecasting mortality have been extensively reviewed by Booth (2006) and Booth & Tickle (2008). This chapter covers various extrapolative methods for forecasting ...