Scenario Proposal Draft

Many people have numerous questions to how the cost of life insurance is determined and why some people insurance is worth more than others. What makes two healthy people around the same age have different life expectancies according to life insurance companies?
Well to help answer some of these questions and give the community a better understanding, i will use Life Expectancy graphs. As all of us know, these graphs are a major use in our field to determine different types of risk; so that we can manage it.
Life Expectancy graphs are used to show a person life expectancy according to their lifestyle. They could be made towards a particular person's lifestyle or towards a group or population of specific people; take smoking for example.
(smoking male graph)
This graph shows you the probability, at your current age, to make it to either 60, 70, or 80.
Some of you smokers out there might think or feel that this is okay or pretty good. Well actually its not compared to people that do not smoke. This is what insurance companies look at when they determine how much your premiums are going to e monthly or annually. Now here is graph of non-smoking males to let you get a better understanding.
(non-smoking graph)
This graph shows the same thing however is directed towards non-smokers. it looks a lot better.
Even though I used the same graph, they each showed something different. This shows us how important these graphs are used in our field. Hopefully after using the probability graph to answer some of these questions, the citizens, retirees and community will have a better understanding. Life expectancy is the largest risk factor that insurance companies look at.
For those of you who might not know me, my name is Adrianna Stephens and I am studying Actuarial Science. I will be attending the Riverhead Town Hall once a month for the next three months or so to discuss life insurance with some of the Seniors and soon to be retirees in town. I will be discussing and answering the most common questions about life insurance in my presentation. Using different types of probability graphs to show why life insurance may cost so much and why different people may receive more. I will explain to the audience their potential loss and the companies potential loss to help them get an understanding to a variety of their questions and curiosities.

Visual Representations

In my field, visual representations are used everyday. There are numerous types of representations of information used for many different things. The most used representation, i would have to say is graphs. Actuaries use graphs to calculate information and data as well as store and provide information with others. Graphs are used because they are easily read when presenting information. There are many different types of graphs; for example line graphs, sattered plots, bar graphs, pie graphs and probablity graphs. Probability graphs are probably the most frequently used by actuaries. I say this because actuaries use probability and statistics to determine the risk factors of certain outcomes. The green graph at the top of the page is an example of a probability graph.

Actuarial Science

Actuaries use mathematics, statistics, and finance to study uncertain future events. They use their skills to minimize potential risk on both sides of the chart; meaning companies and clients. Minimize risk and its financial impact on companies and clients. Actuarial Science uses a plethora of different visual aids throughout the day, to make their job a lot easier. Actuaries use visuals like graphs, numbers, statistics, Excel, chart and PowerPoint.

One of the main purposes of an actuary is to help businesses manage the risk of certain events occurring and create policies that minimize the cost of that risk. To do this they use numerous mathematical equations and charts to show both the client and company the easiest way to lower the risk costs. They use PowerPoint in meetings to present the information and policies they formulate. Actuaries gather and analyze data to estimate the probability and likely cost of an event such as death, sickness, injury, disability, or loss of property; that is why they are a great asset to Insurance Companies. To make this data easily understood they use tables and charts to organize the information. Actuaries help design insurance policies, pension plans, and other financial strategies in an approach which will help ensure that the plans are maintained on a sound financial basis. They produce probability tables or use more sophisticated modeling techniques that determine the likelihood that a potential event will generate a claim. From these tables, they estimate the amount a company can expect to pay in claims.

Actuaries are constantly growing in numbers and becoming more useful for extended reason for companies outside of insurance. While their numbers grow so does technology; therefore the number of visuals will soon be greatly increasing also.

Memoir Readings

Memoir by Katelyn Saxton
I would summarize Katelyn's memoir as being very interesting. She has always wanted to be a singer and perform for people her whole life, well since elementary school. Her greatest inspiration was the Little Mermaid. I learned that Katelyn is a singer and has always loved to sing.Her grandparents live Florida and she loved visiting them because they always took her to Witchi- Watchi, which is an amusement park that she said "is similar to sea world but ten times better." The author kept it short and simple and got straight to the point. I thought it was so adorable how the Little Mermaid has been her inspiration.

My Memoir by Steven Seharzer
Steven's memoir was very, very interesting. It was about his family and the way the family as a whole as pushed him to pushed psychology. When I say pushed I don't mean by that's what they want him to study but more as their actions have lead him to want to study the human psyche. I learned that Steven has an abnormal family. he is a psychology major because he wants to know why his family is the way they are. He recently lost his grandmother and grandfather; and shared the horrible memory of the way his family reacted. Steven gave a brief background on everybody that he mentioned in the memoir and then gave one big example of when his family was at its worst. I think he tied the whole paper up very well in the conclusion and I loved the great detail throughout the memoir.

My Memoir

I am proud that my memoir turned out to be a decent story. Before the assignment, I never thought about why I choose to go down the career path that I am headed for. My memoir was a good way to think about to why this decision was made and whether or not it was a good decision. Even though I have somewhat of a reason to why I choose the career path I did, I wish that I had a better reason or actually story to tell that was very appealing. For example how people become doctors because they were diagnosed with something really young and they want to find a cure or something along that line. I could have made up a story but I decided to go down another road with my memoir. I learned that everything isn't always handed over to people, whether its fame, wealth, ideas or whatever else it might be. There are somethings such as career choices that you do need to research. Everyone does not become a doctor because it runs in their family. A career choice is something for the individual to choice and decide.

Hi today!

During this last year I have been in attendance at George Mason University, where I have met numerous new people. Everyday there is a new face, a new name and a new person to meet. One person in particular that I just recently meet is a young girl that also goes to Mason. Her name is Antionette W. I meet her about a two or three months ago. Antionette is 20 years old and currently a junior here at Mason. She is about 5'3 and Afican America. Antionette is medium brown like the color of hot chocolate. She currently has her hair in twists but that is not an all the time thing. She wears glasses, is very stylish and up to date with fashion. Most of the time, if she is wearing sneakers they are Jordans. Antionette might look to have an attitude or be mean, but she is really a nice preson. Antionette is very outgoing, outspoken, speaks whats on her mind, energetic, courageous, down to earth girl. Antionette is the type of person who will say whatever is on her mind, whether it will offend you or not. She feels that if its something that needs to be said than why not say it. Over these last couple of months Antionette and I have become very close and our friendship continues to grow.

Listen

Hello!
Today I learned that if you take the time out to sit and listen for a little part of your day, you'll hear things you'd never know where there. When I say listen, I don't quite mean just listen to someone talk. Listening, in fact is one of the keys to life I believe. Well anyway, today I sat in my living room of Patriot Village dorm for an hour with no phone, TV, or computer to just listen to my surroundings. At first I heard the usually things that you would hear in an apartment. I heard some soft conversation going on in one of my roommates rooms. I only heard one voice so I assume it was one of my roommates on a phone call. I heard some music playing and a television on also. I wasn’t able to recognize the music that was playing but I did recognize the television show that was on, Hell Date from BET. I heard the heat come on and start blowing from the vent in the floor. At one point a roommate took a shower and I heard the water running, something drop in the shower and when the water stopped I heard the toilet flush. Now besides those usually things that happen in an apartment, I heard the rain outside beating along the side of the trailer. I heard someone outside the window go to the garbage to throw something out. The garbage top made a big bang sound. The trailer creaked a little bit, but I noticed it was mostly when someone was walking around. I heard some cars drive by every now and then but not that often. After doing this exercise, I realized that a lot more goes on around me than I ever thought of, or paid attention to before. Silence definitely is never truly silence; however, merely just the things that you block out.