David Tucek recently gave a careful explanation of how to construct a life table. This paper briefly reviews part of that paper, extends the discussion to joint life expectancy, and finally moves on to the construction of life annuities, joint life annuities, deferred and temporary life annuities, comparing each to annuities for fixed periods, called annuities certain. The paper is based on Microsoft Excel tables from the US Life Tables, 2005. The real product, though, is the extension of those Excel tables that allows calculation of the relevant annuities for all combinations of interest rate, age pairs for the joint tables, and periods of annuity deferral or temporary annuities. Life expectancy is the probability of survival for one year, plus the probability of survival for 2 years, ...
... are addressed by linear interpolation. For a male 43.5 years old and a female 39.25, loo...