Attained Age definition

Attained Age means issue age plus the elapsed number of policy years, where the issue age is defined as age nearest birthday of the insured.

Attained Age. The Insured's Issue Age plus the number of completed Policy Years.

Attained Age of the annuitant on any date after the Date of Issue means the age of the Annuitant at issue as shown on page 3 plus the number of years elapsed from the Date of Issue to such date; and

Examples of Attained Age in a sentence

• Attained Age means the age of the Insured Person as of the Policy Anniversary that coincides with or follows the Insured Person’s birthday.

• Attained Age rates are based on 5-year age bands and will increase when a Covered Person reaches a new age band.

• For these employers, we will adopt a funding method known as the Attained Age Method, which effectively looks at the cost of benefits that members will earn over the entirety of their remaining working lifetime (rather than just the year following the valuation).Combining this future service rate with any past service adjustment required to repay a deficit (or reduce a surplus) gives us the total contribution rate.

• The Attained Age Method has been used for some employers who do not permit new employees to join the Fund.

• To give more long term stability to such employers’ contributions, the Attained Age funding method is normally adopted.

More Definitions of Attained Age

Attained Age of any individual means his chronological age, not the age he was, or will be, on his nearest birthday.

Attained Age. Attained Age is the Issue Age plus the number of full years since the Policy Date.

Attained Age during the first policy year means age at nearest birthday on the Policy Date. During each succeeding policy year, "attained age" means age at nearest birthday on the policy anniversary on which that policy year commenced.

Attained Age means a Participant's chronological age (not his age on his nearest birthday).

Attained Age is the Issue Age plus the number of full years since the Contract Date.

Attained Age means, unless clearly indicated to the contrary, the age of an Employee or Member as of his or her last birthday.

Attained Age. For each Insured, Attained Age is the Issue Age plus the number of full years since the Policy Date.