Compare the main types of actuaries -- life, P&C, health, pension, consulting, and non-traditional paths -- with links to specialty job hubs.
Types of actuaries
Short answer: actuaries specialize by practice area -- life, P&C, health, retirement/pension, consulting, and some non-traditional paths. The math toolkit overlaps; the products, regulations, and day-to-day problems do not.
On this page
For the shared definition of the work, see what does an actuary do. For level progression, see the career path guide.
Life / annuity actuaries
Focus on life insurance and annuity products: pricing, valuation, assumptions (mortality, lapse), ALM support, and product design. Exam path is usually SOA. Browse life actuarial roles.
Property & casualty (P&C) actuaries
Focus on personal and commercial insurance lines: rating plans, loss development, reserving, profitability, and catastrophe considerations. Exam path is usually CAS. Browse P&C roles and what a casualty actuary does.
Health actuaries
Focus on medical cost, utilization, pricing, forecasting, risk adjustment, and value-based care economics across commercial, Medicare, Medicaid, and provider settings. Browse health actuary jobs.
Retirement / pension actuaries
Focus on defined benefit and retirement plan valuation, funding, contribution strategy, and sometimes pension risk transfer. Some senior roles prefer enrolled actuary credentials. Browse pension actuary jobs.
Consulting actuaries
Deliver client projects across one or more practice areas. Expect faster context-switching, stronger communication, and project management alongside technical work.
Non-traditional paths
Some actuaries move into broader analytics, risk, fintech, or corporate strategy roles. See non-traditional actuarial jobs.
How to choose a type
- Match products and problems you find interesting (auto claims vs medical trend vs pensions)
- Check SOA vs CAS implications -- CAS vs SOA
- Browse live openings in two tracks before locking in
Entering the field? Use how to become an actuary.
FAQ
What are the main types of actuaries?
Life, P&C, health, retirement/pension, and consulting are the most common groupings.
Can I switch types later?
Yes, especially early. Switching later is possible but may require new domain learning and sometimes exam-path adjustments.
Which type pays the most?
Pay varies more by level, exams, location, and scarcity than by track alone. Compare on salary insights.