Attained Age

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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 ?
Certain insurers asserted that due to the requirement in the rule that only currently marketed policies can be used, a number of persons whose existing long term care insurance policies conformed in every other way with the partnership requirements, or could be made to conform by a minimal rider, could not afford or could not be underwritten under the newer partnership policies' increased benefits at their attained ages, and that this was not fair," officials say.
Universal life lapse exposure at attained ages was highest for middle-aged policyholders in the 50-59 group with a 23% exposure followed by the 40-49 group with a 22% lapse exposure, the LIMRA-SOA study found.
Attained age whole life exposure was greatest in the 70+ age group which represents 24% of the total policies exposed.
In that case, the distribution period is the longer of a) the participant's life expectancy under the uniform method described above or b) the joint life expectancies of the participant and his or her spouse, based on their attained ages in the year distributions take place.
The factor will vary depending on the participant's attained age on his or her birthday in the distribution year.
Most IRA holders choose the annual recalculation method for determining minimum distributions; this allows the IRA owner and spouse to use their attained ages as of their birthdays each year when looking up their joint life expectancy in the IRS tables (in Publication 590).
The increase was accounted for almost entirely by personal retirement saving - $4,027 for the cohort that attained ages 60 to 64 in 1984 compared to $10,995 for the cohort that attained this age in 1991.
But families who attained age 65 in 1991 had had nine years to contribute.
The original TOAMS, released in 2005, covered mortality experience for insureds attained ages of 50 and higher during 2000, 2001 and 2002.
TOAMS 3 spans the five-year experience period from 2006 to 2010 for insureds attained ages of 50 and above.
But now, some companies are starting to recognize that some of the discount for being preferred starts to wear off in the later durations or at the older attained ages.