What Does Actuary Mean?

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What does Actuary mean? Read on to discover the definition & meaning of the term Actuary - to help you better understand the language used in insurance policies.

Actuary

Actuary

An actuary is a professional statistician who calculates the risks associated with insurance coverage and the likelihood that claims will be filed or that benefits will have to be paid out. Using relevant statistical data, actuaries also compute dividends and decide premium rates.

We hope the you have a better understanding of the meaning of Actuary.

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