Issue Age

Definition

  • The age of the policyholder when an insurance policy is first issued, rounded to the nearest birthday.

Synonyms
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,
    • An arrangement where an insurer agrees to pay a benefit to one or more beneficiaries in the event of the policyholder's death.
    CanEquity offers life insurance.
  • 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.
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