§ 55-274. Makehamized mortality table
When more than two parties as joint tenants for life, or three or more parties as tenants in successive estates are entitled to the annual interest on a sum of money, or are entitled to the use of any estate, or a part thereof, and are willing to accept a gross sum in lieu thereof, or the party liable for such interest, or affected by such claim, has the right to pay a gross sum in lieu thereof, or if the court in any legal proceeding decree a gross sum to be paid in lieu thereof, the sum shall be estimated according to the then value of an annuity of eight percent on the principal sum during the probable lives of such persons which probable lives shall be computed from the Makehamized mortality table for total population in the United States, 1969-1971, published by the Bureau of the Census of the Department of Commerce.
X Ax Axx Axxx Axxxx Cx
0 12.060 11.670 11.305 10.958 1.000
1 12.291 12.124 11.973 11.832 1.147
2 12.291 12.127 11.979 11.843 1.315
3 12.286 12.120 11.971 11.834 1.508
4 12.278 12.107 11.956 11.816 1.730
5 12.267 12.091 11.934 11.791 1.984
6 12.256 12.071 11.909 11.760 2.275
7 12.242 12.049 11.879 11.724 2.609
8 12.227 12.024 11.846 11.684 2.992
9 12.211 11.996 11.809 11.638 3.431
10 12.192 11.965 11.766 11.587 3.935
11 12.171 11.930 11.720 11.529 4.512
12 12.149 11.892 11.668 11.466 5.175
13 12.125 11.852 11.615 11.401 5.935
14 12.102 11.812 11.562 11.336 6.806
15 12.078 11.773 11.510 11.274 7.805
16 12.055 11.736 11.462 11.215 8.951
17 12.032 11.701 11.416 11.162 10.265
18 12.010 11.666 11.373 11.111 11.772
19 11.988 11.632 11.330 11.062 13.501
20 11.964 11.596 11.286 11.011 15.483
21 11.939 11.559 11.240 10.959 17.756
22 11.913 11.521 11.193 10.905 20.362
23 11.886 11.480 11.144 10.850 23.352
24 11.857 11.437 11.091 10.789 26.780
25 11.824 11.389 11.032 10.723 30.712
26 11.789 11.336 10.968 10.649 35.221
27 11.751 11.278 10.896 10.567 40.392
28 11.709 11.215 10.818 10.478 46.321
29 11.664 11.148 10.734 10.382 53.122
30 11.615 11.075 10.645 10.279 60.921
31 11.564 10.998 10.550 10.171 69.865
32 11.510 10.917 10.450 10.056 80.122
33 11.452 10.831 10.344 9.936 91.885
34 11.391 10.741 10.233 9.809 105.375
35 11.326 10.645 10.117 9.677 120.845
36 11.258 10.545 9.995 9.539 138.586
37 11.186 10.440 9.868 9.396 158.932
38 11.110 10.331 9.735 9.247 182.266
39 11.031 10.217 9.599 9.094 209.024
40 10.948 10.098 9.457 8.936 239.712
41 10.861 9.975 9.311 8.773 274.904
42 10.770 9.847 9.159 8.605 315.263
43 10.675 9.714 9.002 8.432 361.548
44 10.576 9.576 8.841 8.256 414.627
45 10.473 9.434 8.677 8.076 475.500
46 10.365 9.288 8.508 7.893 545.309
47 10.254 9.138 8.336 7.707 625.367
48 10.138 8.983 8.160 7.517 717.178
49 10.018 8.824 7.979 7.234 822.468
50 9.893 8.661 7.796 7.129 943.217
51 9.764 8.493 7.608 6.930 1081.692
52 9.631 8.322 7.418 6.730 1240.497
53 9.493 8.147 7.226 6.529 1422.617
54 9.352 7.970 7.033 6.328 1631.475
55 9.207 7.790 6.838 6.127 1870.995
56 9.057 7.608 6.643 5.927 2145.679
57 8.904 7.423 6.447 5.727 2460.691
58 8.747 7.237 6.250 5.529 2821.950
59 8.586 7.048 6.053 5.331 3236.246
60 8.421 6.856 5.855 5.133 3711.365
61 8.252 6.662 5.656 4.936 4256.238
62 8.078 6.466 5.457 4.740 4881.105
63 7.900 6.267 5.257 4.544 5597.710
64 7.718 6.067 5.056 4.349 6419.521
65 7.532 5.865 4.857 4.157 7361.984
66 7.343 5.663 4.659 3.967 8442.811
67 7.150 5.460 4.462 3.780 9682.318
68 6.954 5.256 4.266 3.596 11103.798
69 6.755 5.052 4.072 3.414 12733.969
70 6.552 4.847 3.879 3.234 14603.468
71 6.345 4.640 3.685 3.055 16747.432
72 6.134 4.431 3.490 2.875 19206.157
73 5.920 4.222 3.296 2.697 22025.851
74 5.705 4.015 3.106 2.523 25259.510
75 5.491 3.812 2.922 2.356 28967.909
76 5.279 3.615 2.745 2.197 33220.746
77 5.069 3.424 2.577 2.047 38097.950
78 4.861 3.239 2.415 1.905 43691.186
79 4.654 3.057 2.258 1.768 50105.577
80 4.448 2.879 2.106 1.636 57461.677
81 4.244 2.706 1.959 1.509 65897.740
82 4.044 2.538 1.818 1.389 75572.319
83 3.846 2.376 1.684 1.276 86667.243
84 3.652 2.217 1.554 1.166 99391.034
85 3.459 2.061 1.425 1.058 113982.830
86 3.272 1.911 1.302 0.955 130716.878
87 3.097 1.774 1.192 0.863 149907.684
88 2.934 1.651 1.095 0.784 171915.931
89 2.780 1.537 1.007 0.713 197155.252
90 2.630 1.426 0.922 0.645 226100.009
91 2.485 1.319 0.839 0.579 259294.204
92 2.350 1.220 0.763 0.519 297361.704
93 2.227 1.131 0.695 0.465 341017.971
94 2.118 1.053 0.636 0.419 391083.501
95 2.024 0.986 0.586 0.380 448499.252
96 1.943 0.931 0.546 0.349 514344.324
97 1.873 0.885 0.512 0.324 589856.243
98 1.811 0.845 0.484 0.302 676454.218
99 1.754 0.810 0.459 0.284 775765.815
100 1.701 0.779 0.437 0.268 889657.545
101 1.651 0.751 0.417 0.254 1020269.949
102 1.602 0.726 0.400 0.241 1170057.821
103 1.550 0.703 0.385 0.230 1341836.349
104 1.492 0.682 0.372 0.221 1538834.028
105 1.420 0.661 0.359 0.212 1764753.329
106 1.322 0.637 0.348 0.205 2023840.295
107 1.178 0.602 0.335 0.197 2320964.336
108 0.955 0.535 0.312 0.188 2661709.752
109 0.595 0.383 0.246 0.158 3052480.684
Example: Three persons age 30, 40, and 45 are joint tenants for life in the whole of an estate worth $10,500: the equivalent equal age, w, of these 3 persons is given by the following formula:
C 30 + C 40 + C 45
C w = ________________ = 258.711 where
3
C 30, C 40, and C 45 are found in column 6 of the above table.
A linear interpolation between x = 40 and x = 41 in the above table would yield the value of x = 40.540 which would be the equivalent equal age of the persons involved.
Finally, a linear interpolation between x = 40 and x = 41 would yield the value of A = 9.378 40.540:40.540:40.540
This figure multiplied by $840 (the interest at 8% on $10,500) gives $7,877.52 as the gross value of the joint life estate of such persons therein.
(1946, p. 557; Michie Suppl. 1946, § 5133a3; 1973, c. 355; 1981, c. 612.)
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