What's the difference among "current age", "present age", and "attained age"?
Regarding life insurance, what do they consider to be your "current age", your "present age", and your "attained age"?
Answers:
Present age is the age when you full up out the the life app.
Current or Issue age is the insured's age on the birthday nearest the Policy Date. If the policy is issued in close proximity your birthday, even though you filled out the application 2 months ago, your rate will be remains on that age. So if you were 45 years infirm 2 months ago when you filled out the insurance app, and today you are 45 1/2 or almost 46, and you received your policy, your rate will be foot at your age at 46.
Attained age is the Issue/Current Age plus the number of policy years since the Policy Date. So, back to my example, if you are practical age 46, this is your first policy year. Attained Age 47 will be your second policy year.
Current/Present Age:
For the purpose of calculating the insurance premium means the present age of the go to be covered as of that date of the year of coverage.
Original Age:
The age of an insured on the inception date of a term vivacity insurance policy
Attained Age:
The age of the insured today. The insured's age at a specified point in time, normally based on the previous or subsequent birthday, whichever is closer.
Attained Age Conversion:
Many term go insurance policies can be converted to other types of insurance (e.g., whole life) in the past the insured reaches a dependable age. In such conversions, the premiums charged for the new policy are according to the insured's current (attained) age and not his inspired age (age of the person when the residence policy took effect).