Life Expectancy

This article is part of our three part Life Expectancy series:

• Article 1 - How life expectancy data is applied in law?
• Article 2- Where does the data come from?
• Article 3 - A guide to calculating life expectancy with Juris Economics.

Calculation of Life Expectancy

Juris Economics provides an easy to use platform that assists practitioners in making life expectancy calculations. There are three different ways life expectancy calculations can be applied in our software. One is based upon statistical tables and the other two are based upon user or expert opinions. In this article we’ll take a look at how to use a statistical life expectancy.

When creating a “New Report” you will be directed to enter information into a New Report pop-up window about the person you are evaluating. After entering the First Name and Last Name, you will see the “Date of Birth” field. Continuing down the window you will also see the “Gender” field below the State of Residence. Although all fields are required, the “Date of Birth” and “Gender” are the two components from the pop-up window that will be utilized to determine statistical life expectancy.

Life Expectancy and Demographics

After completing the initial pop-up, you will be directed to the Demographics page. On the Demographics page you will be able to reconfirm your selections from the New Report pop-up window. Towards the bottom of the section, you will see “Statistical Date of Valuation”. Statistical Date of Valuation is the date Juris Economic uses as the foundation for statistical calculations. In other words, it will derive statistical references from the demographics on that day.

For example, let’s say Dan Smith, a male, was born on August 3, 1974 and was involved in a fatal accident on October 15, 2024. His family has sued the responsible party for wrongful death and needs to know how long he would have lived. In utilizing Juris Economics to provide a demand for Mr. Smith’s lost wages and household services, life expectancy has to be calculated.

After the information is entered, we see that on October 15, 2024 Mr. Smith was 50 years old and had a life expectancy of 28.2 years. Adding 28.2 years to October 15, 2024 yields an end of life expectancy date of December 12, 2052. This means that Mr. Smith’s family will be seeking damages for losses that occurred between October 15, 2024 and December 12, 2052.

Note: Although the published report by National Vital Statistics on November 7, 2023 shows a life expectancy of 28.2 years, that number is rounded for publication purposes. Juris Economics calculations utilize the actual data which provides a life expectancy of 28.159 years for a 50 year old male.

View Generated Report

Summary

In review, so long as we know the “Date of Birth”, “Gender”, and the “Statistical Date of Valuation”, we can derive their age and provide a life expectancy calculation for an injured person.

If you need assistance calculating damages in your case, contact Juris Economics at (858) 477-9537 or sales@juriseconomics.com.