Attained Age


It is the current age of the insured. One of the parameters used by life insurance firms to set your insurance premiums is your attained age. The bigger the risk, the higher the premium.


Insurance companies consider your current age as an easy way to calculate the premium. That means your policy's premium is determined according to attained age or your present age—the age at which you are now. Premiums will often be less expensive if you buy a policy at a younger age. But the premium rises as your age increases because of the possibility that you will need more healthcare support at your older age.


If you are at the age of 60 or 65 and purchase a plan from an insurance provider, the attained age is equal to the age at which you intend to purchase insurance. Therefore, purchasing an insurance policy in your 60s represents a considerably larger risk to the insurance provider than purchasing insurance in your 20s. This increased risk usually leads to higher premium rates and fewer benefits.