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Why Should I Become a Life Actuary?

Puts finance and economics knowledge to work

There is more to being an actuary at a life insurance company than just crunching numbers. The life insurance industry also puts your knowledge of finance and economics to solve real-world business problems. The long term nature of life insurance and annuity liabilities places an emphasis on financial concepts such as the time value of money, present values, and rates of return.

Exposure to Assets

More than in other actuarial disciplines, life insurance company actuaries have exposure to and work extensively with asset and capital market issues. Offering successful retirement savings products is built upon the ability to create a sound investment platform. Life actuaries routinely use sophisticated concepts from financial economics, design derivative and hedging programs, work in asset/liability management and optimize the deployment of company capital. Thus, the role of actuaries in life insurance companies has moved well beyond their traditional roles in product design/development and financial reporting.

Importance of life actuaries

Life insurance companies offer products that provide long-term financial protection to individuals and families. Many major products serve as savings vehicles for retirement and other future needs. These products contain guaranteed rates of return as well as flexibility as to the timing of benefit payments. These product features expose insurance companies to significant capital market and mortality risks. Actuaries play a central role in modeling and managing these risks.

Benefits of working in a corporate environment

  • Common purpose with co-workers to move company forward
  • Shared success of company thru stock ownership in 401k or other incentive compensation
  • Significant interaction with non-actuarial groups such as marketing, IT, distribution, investments, finance, etc
  • Reduced travel significantly enhances work-life balance

Learn More

Want to learn more about Allstate Life Actuaries? You can Contact a Life Actuary conveniently through email.

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