What is an actuary?
The Bankrate.com financial term of the day is: "actuary."
An actuary is an insurance company stats person. The actuary crunches a variety of numbers, including life expectancies and statistical risks, to help an insurer set premiums.
Your insurance rates may seem arbitrary, but they're at least partly the result of work done by an actuary armed with mathematical formulas.
To get an insurance quote, visit the Insurance section at Bankrate.com.
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