Attained Age definition

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

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

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.

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

• For example, a $100 benefit, as listed in the Schedule, will be paid at $75 if the Covered Person’s Attained Age is 67.70 or olderAny benefit payable will be reduced by 50% of the amount listed for that benefit in the Schedule if the Covered Person’s Attained Age is 70 or older.

More Definitions of Attained Age

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

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

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

Attained Age. The Insured’s age as of the nearest birthday on the Policy Effective Date plus the number of complete Policy Years since the Policy Effective Date.

Attained Age means the Person Covered’s Age at Entry plus the number of Certificate Year from the Effective Date.

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