Electron precipitation, a crucial link between Earth's magnetosphere and atmosphere, profoundly influences the coupled magnetosphere‐ionosphere‐atmosphere system. Existing models of the ring current often rely on electron lifetimes for characterizing the effects of pitch‐angle scattering, thus limiting accurate predictions of loss cone dynamics. This study introduces a method called steady‐state approximation (steady state approximation) utilizing the steady‐state solution of the pitch‐angle diffusion operator to calculate pitch angle resolved flux within the loss cone. The method enables precise comparisons with low‐earth orbit satellite measurements to validate parameterized electron lifetimes. Applying this approach to reevaluate a prior study, we uncover underestimated electron precipitation during geomagnetic storms, particularly in the pre‐midnight sector. This discrepancy reveals a previously overlooked loss process. Our method enhances the fidelity of global magnetospheric simulations, contributing to improved predictions of ionospheric conductance and atmospheric chemistry dynamics.