- The age of the policyholder when an insurance policy is first issued, rounded to the nearest birthday.
issued age, age at issuing
Related Terms and Acronyms
- Actuarial Table — Definition,
- A table used in actuarial science that outlines the statistical probability that an individual of a specific age and sex will die within a year.
- Actuary — Definition,
- An individual who assesses the mechanisms, mathematics and complexities of risk and uncertainty.
- Annuity — Definition,
- A regular periodic payment made by an insurance company to a policyholder for a specified period of time.
- A financial instrument that disperses a number of payments over a set period of time.
- Attained Age — Definition,
- The current age of an insured individual.
- Health Insurance (HI) — Acronym,
- Insurance that covers the costs of medical expenses for insured persons.
- Issuer — Definition,
- A legal entity that develops, registers, and sells securities including stocks, bonds and derivatives.
- Life Insurance — Definition, Very Important,
➥ CanEquity offers life insurance.
- An arrangement where an insurer agrees to pay a benefit to one or more beneficiaries in the event of the policyholder's death.
- Yearly Price Protection Method — Definition,
- A calculation used to determine the annual cost of protection for insurance policies with savings components.
- Yearly Probability of Dying — Definition,
- The likelihood that an individual of a certain age and gender will die within a year.