Attained Age

Attained Age

1. The age of a person holding an insurance policy. This may affect the premium that is paid.

2. The age at which a beneficiary, policyholder, or pensioner begins to receive payments from a plan.
References in periodicals archive ?
Some pensioners of the University of Ibadan have attained age 90 and they need care.
1 lakh to those girls who have attained age of 21 years, provided they are not married before the age of 18 years and have appeared in Class XII examination.
Later when Maria produced before the bench, she informed the bench that she embraced Islam without any influence and got freewill marriage with Bilawal according to the law of this land as it was fundamental right of a person who attained age of maturity.
A parent who works can claim a dependent care credit for a child who has not attained age 13 [Internal Revenue Code (IRC) section 21(b)(1)(A)].
3) Only individuals who've attained age 701/2 may make QCDs.
Recommendation on which actuarial cost method should be used; entry age; frozen entry age, attained age, unit credit or aggregate;
A whole life policy at the attained age with ongoing premiums;
This means that only those people who had already attained age 65 before April 6, 2013, can continue to benefit from the higher age-related allowance.
This could be a whole life policy at attained age with ongoing premiums or a single-premium, paid-up whole life policy at the attained age.
The shape of this curve poses the question of whether mortality improvement is shaped entirely by the attained age or if there has been a benefit of being at the "right age at the right time:' In other words, is there a cohort effect as well as an attained-age effect?
Actuaries use a variety of methods (entry age, frozen entry age, attained age, frozen attained age, projected unit credit, or aggregate) to calculate employer contributions for funding purposes.