Definitions for "Average Life"
Also referred to as weighted average life (WAL). The average number of years that a principal dollar is expected to remain outstanding. For bonds with no principal payments during the life of the bond, the average life equals the stated maturity. For bonds with principal paydowns, such as asset-backed securities and mortgage-backed bonds, the average life is significantly shorter than the stated maturity.
The time-weighed for a stream of principal cash flows. See weighted average life.
A value for life expectancy of a lamp
Keywords:  con, rust, shut, perception, idea
a con, and the very idea will rust the limiting valve of perception shut
Keywords:  retired, half, length, debt, underlying
The length of time that will pass before one-half of a debt obligation has been retired.
This figure refers to the length of time before half of a debt has been retired. It usually refers specifically to mortgage-backed securities as an indicator of how long, on average, before the underlying mortgages will be paid off.