The mathematical essence in life insurance spins around the search of the numerical characteristics of the random variables \(T_x\) , \(\nu ^{T_x}\) , \(T_x\nu ^{T_x}\) , etc., where \(\nu \) (deterministic) denotes the discount multiplier and \(T_x\) (random) is the future lifetime of an individual being of \(x\in \{0,\,1,\,\ldots \}\) years old. This work provides some historical facts about T. Wittstein and G. Balducci and their mortality assumption. We also develop some formulas that make it easier to compute the moments of the mentioned random variables, assuming that the survival function is interpolated according to Balducci’s assumption. Derived formulas are verified using hypothetical mortality data, and the outputs are compared to the ones obtained under the assumption of the uniform distribution of deaths.
