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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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38% - Moderately

Issue Age


Synonyms:age at issuing, issued age
Filed Under: insurance
Tags: insurance
 

Definition of issue age

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

Related Terms and Acronyms:

  • actuarial table   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   An individual who assesses the mechanisms, mathematics and complexities of risk and uncertainty.
  • annuity   A financial instrument that disperses a number of payments over a set period of time.
  • attained age   The current age of an insured individual.
  • health insurance (HI)   Insurance that covers the costs of medical expenses for insured persons.
  • issuer   A legal entity that develops, registers, and sells securities including stocks, bonds and derivatives.
  • 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.
      ➥  CanEquity offers life insurance.
  • yearly price protection method   A calculation used to determine the annual cost of protection for insurance policies with savings components.
  • yearly probability of dying   The likelihood that an individual of a certain age and gender will die within a year.

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