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. Dependency Ratio

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

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

    Income that temporarily reduces a retired individual's Social ...
  4. Aging

    A method used by accountants and investors to evaluate and identify ...
  5. Retirement Planning

    Retirement planning is the process of determining retirement ...
  6. Provident Fund

    Similar to U.S. Social Security, provident funds in some countries ...
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

    Stretching Retirement Plans for Clients Who Live to 115

    What are the financial implications of living until age 115—and how do they impact your retirement planning?
  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

    Should the Retirement Age Be Increased to 70?

    The general consensus is that Social Security faces a crisis of solvency. How to address it is far less clear-cut.
  5. Financial Advisor

    Will Raising the Retirement Age Save Social Security?

    Social Security is the federal government’s biggest expenditure. Here's why raising the age of retirement may not be a bad idea to keep it afloat.
  6. Retirement

    How Having a Job Affects Social Security Benefits

    Social Security benefits are important for retirees' finances, but a part-time job can complicate matters if certain benchmarks aren't reached.
  7. Retirement

    Top 6 Myths About Social Security Benefits

    Misinformation on retirement benefits is common. We'll set the record straight.
  8. 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.'
  9. 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.
  10. Retirement

    Are We Looking At A Retirement Age Of 70 Soon?

    Other countries have been hiking their retirement age. What would make the U.S. government go in that direction?
Hot Definitions
  1. Risk Tolerance

    The degree of variability in investment returns that an individual is willing to withstand. Risk tolerance is an important ...
  2. Donchian Channels

    A moving average indicator developed by Richard Donchian. It plots the highest high and lowest low over the last period time ...
  3. Consumer Price Index - CPI

    A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, ...
  4. Moving Average - MA

    A moving average (MA) is a widely used indicator in technical analysis that helps smooth out price action by filtering out ...
  5. Stop Order

    A stop order is an order to buy or sell a security when its price increases past a particular point in order to limit losses ...
  6. Inflation

    The rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of ...
Trading Center