Author(s)

Wahab Adewuyi Adejumo¹, Adetunji Raimi Tijani¹, Sheriff Adesanyaonatola²

¹Department of Insurance, the Oke-Ogun Polytechnic Saki, Oyo State, Nigeria.
²Department of Insurance, the Polytechnic Ibadan, Oyo State, Nigeria.

Improvement in medical science is regarded as one of major factors that led to the constant improvement of living conditions in most of the countries with the result that mortality rate has been declining, thereby resulting in a steady increase of life expectancy which further led to creating higher financial responsibilities for pension and annuity providers. In essence, mortality forecasts are essential for predicting the future extent of population ageing, and for determining the sustainability of pension schemes and social security systems. The objective of this paper is to fit multiple regression models to measure how the various predictive variables relate to mortality. We intend to select a statistical model from the model class that best fits the data by choosing the model that has the smallest AIC value. From the analysis of our research, we found that income deprivation is the strongest independent predictor of mortality rates in a neighbourhood, though each of the variables is statistically significant at less than 5%.

Multiple Regression, Predictive Variables, Model Selection, Income Deprivation, Relative Risk

Adejumo, W. , Tijani, A. and Adesanyaonatola, S. (2019) What Are the Socio-Economic Predictors of Mortality in a Society?. Journal of Financial Risk Management, 8, 248-259. doi: 10.4236/jfrm.2019.84017.