The theory of probability is applied to life insurance through the use of:

Morbidity tables focus on the incidence of illness and disability rather than death, measuring the likelihood of individuals becoming sick or disabled over time. While these tables are useful in health insurance contexts, they do not directly pertain to life insurance, which is primarily concerned with mortality rates rather than morbidity.

The needs approach assesses the financial requirements of beneficiaries after the policyholder's death, focusing on calculating the necessary coverage amount based on future needs. While this method is relevant for determining insurance amounts, it does not utilize probability theory in the same way mortality tables do, as it does not analyze statistical death rates.

The human life value approach estimates an individual's economic value based on their potential earnings over a lifetime, guiding insurance coverage decisions. Although it provides a framework for valuing life, it does not employ probability calculations to assess mortality risk, which is the primary function of mortality tables in life insurance.