meaningful. The mortality of a modern developed population is essentially the mortality of old age, and the mode indicates the age near which most of the old age deaths occur. The force of mortality at the mode is also the parameter which reflects the rate of increase in mortality with age, and its reciprocal measures the spread of the deaths.
Regulators are faced with the problem of specifying simple rules with which all participants in an industry must comply. The approaches adopted in this paper may be of some use to those regulating life insurance.
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