"Nobody really knows, and that uncertainty is uncomfortable," said Lisa Schilling, director of practice research at the Society of Actuaries Research Institute, the research arm of the Society of Actuaries.
Longevity risk measures the likelihood someone may live longer than expected and outlive their savings.
The tool asks for basic information on either an individual or a couple: age, sex, retirement age, smoking status and a description of their general health — poor, average or excellent.
The results aim to provide a "reasonable" estimate of how long you might live, according to the organizations.
Health status affects life expectancy projectionsChronic health conditions such as high blood pressure, cardiovascular disease, cancer, diabetes, high cholesterol, tobacco use, obesity or Parkinson's disease reduce an individual's projected life expectancy.
Persons:
Lisa Schilling, haven't, Schilling
Organizations:
Istock, Society of Actuaries Research, Society of Actuaries, HealthView Services, Finance, Social Security Workers, of Actuaries, American Academy, Actuaries, American Academy of Actuaries, Social Security, Social