DEFINITION of 'Attained Age'

1) The age at which the beneficiary of an insurance policy, retirement plan or other aged-dependent plan, is able to receive benefits or withdraw funds. Attained age can be any age at which benefits are received. In some cases, the person may have to take action when he reaches the attained age, such as retiring from a company.


2) An individual policy holder's age at a specific point in time. Attained age can be used to calculate pricing in policies that set payments according to the policy holder's age. Typically, the pricing increases as the policy holder ages.

BREAKING DOWN 'Attained Age'

1) Various ages are used as the attained age, as in the age of majority or retirement.


2) Attained age pricing adjusts pricing according to age. The older the policy holder, the more that policy holder pays to remain covered. This type of policy may have lower initial expenses, but may become more expensive than issue-age pricing or community-rated pricing as the policy holder ages.

RELATED TERMS
  1. Issue Age Policy

    An insurance policy whose rate is dependent on the age of the ...
  2. Normal Retirement Age - NRA

    The age at which people can receive full benefits upon leaving ...
  3. Dependency Ratio

    A measure showing the number of dependents (aged 0-14 and over ...
  4. File and Suspend

    File and suspend was a Social Security claiming strategy that ...
  5. Outside Earnings

    Income that temporarily reduces a retired individual's Social ...
  6. Term Certain Method

    A method of calculating minimum distributions from a retirement ...
Related Articles
  1. Retirement

    Raising The Retirement Age: 5 Countries Testing The Waters

    Many countries are raising the retirement ages for their citizens. Find out what this means to you.
  2. Retirement

    What Will The Maximum Retirement Age Be?

    Many Americans are deciding to retire later due to harsh economic conditions. Theoretically, how high will the average retirement age rise?
  3. Financial Advisor

    Is Delaying Social Security Until 70 a Good Idea?

    Soon to be retirees are often told it's best to wait until age 70 to collect Social Security. Here's why this is not always the best advice.
  4. Retirement

    Retirement Plans From Around The World

    How does the rest of the world stack up against the U.S. when it comes to planning and saving for retirement?
  5. Financial Advisor

    Social Security: To Delay or Not to Delay?

    Should you delay taking your Social Security benefits? As with most things in the financial planning world the answer is: 'it depends.'
  6. Financial Advisor

    How to Avoid Costly Social Security Mistakes

    Social Security is an important part of most retirement plans. Here are some costly mistakes to avoid.
  7. Retirement

    4 Unusual Ways to Boost Social Security Benefits

    Working the system to get the highest legal Social Security benefits just got harder. Two long-time benefits strategies expired with the 2015 budget bill.
  8. Retirement

    Why Procrastination Will Steal Your Future Wealth

    Putting off saving for retirement might feel like your only option right now, but this kind of procrastination can wreak havoc down the road.
RELATED FAQS
  1. What does "full retirement age" mean in regard to Social Security?

    Learn what full retirement age is and how Social Security benefits are calculated based on your age, how long you have worked ... Read Answer >>
Hot Definitions
  1. Straddle

    An options strategy in which the investor holds a position in both a call and put with the same strike price and expiration ...
  2. Trickle-Down Theory

    An economic idea which states that decreasing marginal and capital gains tax rates - especially for corporations, investors ...
  3. North American Free Trade Agreement - NAFTA

    A regulation implemented on Jan. 1, 1994, that eventually eliminated tariffs to encourage economic activity between the United ...
  4. Agency Theory

    A supposition that explains the relationship between principals and agents in business. Agency theory is concerned with resolving ...
  5. Treasury Bill - T-Bill

    A short-term debt obligation backed by the U.S. government with a maturity of less than one year. T-bills are sold in denominations ...
  6. Index

    A statistical measure of change in an economy or a securities market. In the case of financial markets, an index is a hypothetical ...
Trading Center