lifelib

Life actuarial models in Python

What is lifelib?

lifelib is a collection of open-source life actuarial models written in Python. lifelib includes a variety of models, with sample scripts and Jupyter notebooks that demonstrate how to use the models.

Visit https://lifelib.io for more information!

What for?

lifelib models are highly versatile and transparent. You can customize lifelib models and utilize them in various practical areas, such as:

• Model validation / testing
• Pricing / profit testing
• Research / educational projects
• Valuation / cashflow projections
• Asset-liability modeling
• Risk and capital modeling
• Actuarial modernization to replace spreadsheet models

Why lifelib?

By effectively utilizing the models in lifelib, you can expect the following benefits from both model development and governance perspectives:

• A more efficient, transparent, and faster model development experience
• Model integration with the Python ecosystem (Pandas, Numpy, SciPy, etc.)
• Elimination of spreadsheet errors
• Improved version control and model governance
• Automated model testing

Some of the models in lifelib are built using modelx, an open-source Python package for building object-oriented models in Python. By using lifelib, you can enjoy the following advantages:

• Models run fast!
• Formulas are easy to read
• Easy to trace formula dependency and errors
• Formulas are instantly evaluated
• Pandas and Numpy can be utilized
• Object-oriented
• Input from Excel and CSV files
• Documents can be integrated
• Formulas are saved in text files

License

Copyright (c) 2018-2025 lifelib Developers

lifelib is free software; you can redistribute it and/or modify it under the terms of MIT License.

Contributions, productive comments, requests and feedback from the community are always welcome. Information on lifelib development is found at Github https://github.com/lifelib-dev/lifelib

Requirements

The lifelib package requires Python 3.6 or newer, and the following third-party packages.

• modelx
• networkx 2.0+
• Numpy
• Pandas
• OpenPyXL

lifelib consists of multiple libraries. Each library may have additional requirements in addition to the above.

Development

For developers contributing to lifelib, a Makefile is provided to simplify environment setup and common development tasks.

Quick start:

make init                      # Set up development environment (use Git Bash or WSL if you use a Windows machine)
source venv_lifelib/bin/activate  # Activate virtual environment
make test                      # Run tests

Common commands:

make help              # Show all available commands
make install-dev       # Install with dev dependencies
make test              # Run tests
make test-cov          # Run tests with coverage report
make format            # Auto-format code (black, isort)
make lint              # Check code quality (flake8)
make clean             # Clean generated files

For detailed information, see devnotes/MAKEFILE.md and devnotes/TESTING.md.

Contributors

• 2023
  • @alexeybaran
  • @fumitoh
  • @MatthewCaseres
• 2018-2022
  • @alexeybaran
  • @fumitoh
  • @GregorFabjan
  • @lewisfogden
  • @qnity

History

lifelib was first released on January 2nd, 2018.