A life expectancy report or LE is most commonly a one page summary of information obtained by a clients attending physician which will be reviewed by a life expectancy valuation company.
The information that will be reviewed to determine a LE should consist of any pertinent medical records from the previous 5 years. This will normally include all doctor notes, lab results etc. Providing more detailed information to the life expectancy company will allow them to get a more accurate expectancy. Once a persons medical records are reviewed, they will determine a life expectancy based on the law of large numbers, with clients that have had similar health concerns.
Once the LE report is generated, it includes the current age of the client and the number of months the client is expected to live. Also typically included is a mean and median average of how long clients with similar reports have survived.
Life expectancies are most commonly used when purchasing a new life insurance policy or in preparation for a life settlement.
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