can anyone explain me the difference between issue age and attained age policies?
Total Comments: 3
Posted: Fri Dec 14, 2012 03:15 pm Post Subject:
Attained age is either a person's age LAST BIRTHDAY, NEXT BIRTHDAY, or NEAREST BIRTHDAY. Only one of those will be used at the time of policy issue to determine the ISSUE AGE. If an insurance policy is based on NEAREST BIRTHDAY, the policy may be backdated up to 6 months at the time of issue to "save age" and the issue age will be 1 year earlier, potentially saving the customer thousands of premium dollars over the life of the policy.
Posted: Fri Dec 21, 2012 02:09 pm Post Subject:
Never heard of them, and the answer got me all confused. :roll:
When I googled, something about Medicare and medicare supplements came up.
Can anyone please explain?
Posted: Fri Dec 21, 2012 05:43 pm Post Subject:
something about Medicare and medicare supplements came up
Start a new thread under the Health Insurance forum with the specific "something" you want to know. It has nothing to do with attained age, and the discussion does not belong here in the Auto Insurance forum.
Posted: Fri Dec 14, 2012 03:15 pm Post Subject:
Attained age is either a person's age LAST BIRTHDAY, NEXT BIRTHDAY, or NEAREST BIRTHDAY. Only one of those will be used at the time of policy issue to determine the ISSUE AGE. If an insurance policy is based on NEAREST BIRTHDAY, the policy may be backdated up to 6 months at the time of issue to "save age" and the issue age will be 1 year earlier, potentially saving the customer thousands of premium dollars over the life of the policy.
Posted: Fri Dec 21, 2012 02:09 pm Post Subject:
Never heard of them, and the answer got me all confused. :roll:
When I googled, something about Medicare and medicare supplements came up.
Can anyone please explain?
Posted: Fri Dec 21, 2012 05:43 pm Post Subject:
something about Medicare and medicare supplements came up
Start a new thread under the Health Insurance forum with the specific "something" you want to know. It has nothing to do with attained age, and the discussion does not belong here in the Auto Insurance forum.
Add your comment