Froogle | Glossary | 'Attained Age'

ATTAINED AGE

1. the person’s current age;

2. the person’s most recently-reached age (typically a whole number)

EXAMPLE:

Ten years ago, John Doe bought a life insurance policy (when he was 30). As such, 30 was – and always will be – his issue age. 40, on the other hand, represents Mr. Doe’s attained age (which is his current age). His insurer (ie, XYZ Co.) uses these two ages when setting actuarial assumptions (eg, lapse rates; mortality rates; etc.).

note: actuarial nomenclature typically uses X_t to represent someone’s attained age.

Congratulations! You're now Froogled Up™ on what "Attained Age" means!

Feel free to use it throughout your financial/insurance life.

Sincerely,

www.FroogleMe.com

user comments

thank you, come again!
Froogle 1.1.1.7

ATTAINED AGE

EXAMPLE:

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