Insurance companies make their bread doing this. They have some actuarial tables that (I think) are detailed to the month. I roughly checked the life expectancy for an 81 year old man in the US. On average, a man that age can expect to live ~7 more years. Of course, that is average. There are lots of X factors that you can never factor. That's where the art of the science comes in. Biden appears to be less than average, especially in presidential capability.