Browsing by Author "Mathias, Muthe"

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    Estimation of the actuarial life table for Tanzania
    (University of Dar es Salaam, 2017) Mathias, Muthe
    Given the immaturity of the insurance market and incompleteness of population and mortality data in Tanzania, amongst other reasons, construction of the complete actuarial life table has remained to be a significant challenge. This study has laid the foundation toward resolving this challenge by attempting to construct the complete actuarial life table, based on 2012 population and housing census data. As a first attempt, the Brass Balance Growth method is applied to adjust for incompleteness of reporting deaths and later smoothed out using Brass and Modified Logit model. The mortality rates at single year of age are then approximated by interpolating the mortality rates in 5-year age group. To ensure smooth progression of mortality rates with age, the penalized B-spline model is applied to smooth and extrapolate the mortality rates to upper most ages. The pivotal column of the life table is obtained by applying the Actuarial and constant risk method. The application of these methodologies produces different estimate of Tife expectancies. For the un-graduated actuarial life table, the estimates are 65.29 and 62.33 years for females and males respectively, whereas the estimates are 63.87 years for females and 61.64 years for males in the graduated actuarial life table. The slight difference between un-graduated and graduated mortality rates observed in the younger and older ages account for this variation.