News from the UK – the relentless gain in life expectancy is slowing down. The Continuous Mortality Investigation, owned by the Institute and Faculty of Actuaries, says that average life expectancy at age 65 for males is now 22.1 years, while for females of the same age it’s 24 years.
This is a drop of two months from last year and a drop of 10 months (men) and 12 months (women) from 2014.
The problem seems to be a rise in deaths due to dementia, which have doubled between 2001 and 2015.
Bad news for the elderly, but great news for insurance companies who sell annuities – who have an unexpected rise in profits.