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Business Dictionary :
Actual, Actuary and Actuarial
Actual, Actuary and Actuarial
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Actual : adjective : real or correct
• What is the actual cost of one unit?
• The actual figures for directors' expenses are not shown to the shareholders.
Actual : Plural noun : real figures
• These figures are the actuals for 1984.
Actuary : noun : person employed by an insurance company to calculate premiums
Actuarial : adjective : calculated by an actuary
• The premiums are worked out according to actuarial calculations.
Actuarial Tables = lists showing how long people of certain ages are likely to live used to calculate life assurance premiums