Actuaries frequently employ probability models to analyse situations involving uncertainty. They are also not simply interested in modelling the future states of a subject but also model cash flows associated with future states. This study compared single life status and multiple life statuses using life functions. The expected time until death, annuity payments, insurance payable and premiums were estimated using age as a risk factor. The analysis also employed the De Moirve's law on mortality

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... in estimating the rate of mortality. The analysis revealed that, the expected time until death for single life status and multiple life statuses are all increasing functions of age. It was realized also that, the premium for single life status was increasing with age and the same with multiple life statuses. But the premium for single life was higher than multiple life statuses. In the case of the multiple life statuses, it was revealed that, premium for joint life was higher than the last survivor and that a change in the interest rate or force of interest and the benefit did not changed the trend in premium payments.