What are the two ways to qualify the risk of death?

The correct choice highlights two essential concepts in evaluating the risk of death: Life Expectancy and Probability of Death in a Given Year. Life expectancy is a statistical measure that estimates the average number of years a person can expect to live, providing insight into overall mortality risk within a population. On the other hand, the probability of death in a given year quantifies the likelihood that an individual will die at a specific age within that year, often used in actuarial science to assess risks associated with insurance policies.

These two metrics are fundamental in underwriting life insurance, as they allow insurers to evaluate the potential risk presented by an applicant based on statistical data. By integrating these measurements, insurers can better estimate the likelihood of a claim being made, which helps in determining appropriate premiums and coverage options.

Other choices, while they may touch upon risk factors, do not capture the quantitative aspects of measuring risk as effectively as the concepts of life expectancy and probability of death. For example, Age and Health are relevant factors but don't directly reflect the statistical methodologies used to calculate risks. Gender and Occupation are also important but serve more as classification tools rather than direct measures of risk, and Health History and Family Income primarily indicate socioeconomic factors affecting health rather than quantifying death risk effectively.