Actuarial Science

Definition of "Actuarial science"

Michael J  McSorley
  McSorley Property Group powered by Keller Williams Memorial

Branch of knowledge dealing with the mathematics of insurance, including probabilities. It is used in ensuring that risks are carefully evaluated, that adequate premiums are charged for risks underwritten, and that adequate provision is made for future payments of benefits.

Search Real Estate Glossary

Related Real Estate Glossary terms

Related Real Estate FAQ