Article 5.

Life Tables.

§ 8-46.  Mortality tables as evidence.

Whenever it is necessary to establish the expectancy of continued life of any person from any period of the person's life, whether the person is living at the time or not, the table hereto appended shall be received in all courts and by all persons having power to determine litigation, as evidence, with other evidence as to the health, constitution and habits of the person, of such expectancy represented by the figures in the columns headed by the words "completed age" and "expectation" respectively:

Completed Age Expectation

0 75.8

1 75.4

2 74.5

3 73.5

4 72.5

5 71.6

6 70.6

7 69.6

8 68.6

9 67.6

10 66.6

11 65.6

12 64.6

13 63.7

14 62.7

15 61.7

16 60.7

17 59.8

18 58.8

19 57.9

20 56.9

21 56.0

22 55.1

23 54.1

24 53.2

25 52.2

26 51.3

27 50.4

28 49.4

29 48.5

30 47.5

31 46.6

32 45.7

33 44.7

34 43.8

35 42.9

36 42.0

37 41.0

38 40.1

39 39.2

40 38.3

41 37.4

42 36.5

43 35.6

44 34.7

45 33.8

46 32.9

47 32.0

48 31.1

49 30.2

50 29.3

51 28.5

52 27.6

53 26.8

54 25.9

55 25.1

56 24.3

57 23.5

58 22.7

59 21.9

60 21.1

61 20.4

62 19.7

63 18.9

64 18.2

65 17.5

66 16.8

67 16.1

68 15.5

69 14.8

70 14.2

71 13.5

72 12.9

73 12.3

74 11.7

75 11.2

76 10.6

77 10.0

78 9.5

79 9.0

80 8.5

81 8.0

82 7.5

83 7.1

84 6.6

85 and over 6.6

 (1883, c. 225; Code, s. 1352; Rev., s. 1626; C.S., s. 1790; 1955, c. 870; 1971, c. 968; 1997-133, s. 1.)

 

§ 8-47.  Present worth of annuities.

Whenever it is necessary to establish the present worth or cash value of an annuity to a person, payable annually during the person's life, such present worth or cash value may be ascertained by the use of the following table in connection with the mortality tables established by law, the first column representing the number of years the annuity is to run and the second column representing the present cash value of an annuity of one dollar for such number of years, respectively:

No. of Years Annuity Cash Value of the Annuity

is to Run of $1

1 $ 0.943

2 1.833

3 2.673

4 3.465

5 4.212

6 4.917

7 5.582

8 6.210

9 6.802

10 7.360

11 7.887

12 8.384

13 8.853

14 9.295

15 9.712

16 10.106

17 10.477

18 10.828

19 11.158

20 11.470

21 11.764

22 12.042

23 12.303

24 12.550

25 12.783

26 13.003

27 13.211

28 13.406

29 13.591

30 13.765

31 13.929

32 14.084

33 14.230

34 14.368

35 14.498

36 14.621

37 14.737

38 14.846

39 14.949

40 15.046

41 15.138

42 15.225

43 15.306

44 15.383

45 15.456

46 15.524

47 15.589

48 15.650

49 15.708

50 15.762

51 15.813

52 15.861

53 15.907

54 15.950

55 15.991

56 16.029

57 16.065

58 16.099

59 16.131

60 16.161

61 16.190

62 16.217

63 16.242

64 16.266

65 16.289

66 16.310

67 16.331

The present cash value of the annuity for a fraction of a year may be ascertained as follows: Multiply the difference between the cash value of the annuities for the preceding and succeeding full years by the fraction of the year in decimals and add the sum to the present cash value for the preceding full year. When a person is entitled to the use of a sum of money for life, or for a given time, the interest thereon for one year, computed at four and one half percent (4 1/2%), may be considered as an annuity and the present cash value be ascertained as herein provided: Provided, the interest rate in computing the present cash value of a life interest in land shall be six percent (6%).

Whenever the mortality tables set out in G.S. 8-46 are admissible in evidence in any action or proceeding to establish the expectancy of continued life of any person from any period of the person's life, whether the person is living at the time or not, the annuity tables herein set forth shall be evidence, but not conclusive, of the loss of income during the period of life expectancy of the person. (1905, c. 347; Rev., s. 1627; C.S., s. 1791; 1927, c. 215; 1943, c. 543; 1957, c. 497; 1959, c. 879, s. 3; 1965, c. 991; 1997-133, s. 2.)