What does actuarial age mean?

actuarial age meaning in Law Dictionary

The age a person insured should stay to based on calcuations. It helps with insurance pricing, forecasting, adn planning plan.

actuarial age meaning in Business Dictionary

the life span expectancy of a person which predicated on computations and statistical modeling. Mathematical and analytical computations employed by insurance actuaries which can be used to anticipate ones own life span to assist insurance companies in their prices, forecasting, and planning for insurance coverages.