Your attained age is based on the current year, and the years you’ve lived. So if you were born on December 2, 1952, your attained age in the summer of 2022 would be 69 years. But on your actual birthday during the same year, your attained age would be 70. Some insurance companies use a person’s age to price their policies. For instance, it’s one of three rating methods used to determine rates for Medicare supplemental insurance or Medigap. If you are given a quote for an insurance policy, and your age is used as one of the factors, rates will likely increase depending on how old you are. When you buy an insurance policy, the company will base the rates on how old you are. For example, when you buy a 20-year term life insurance policy, companies will base your rates on how old you are. Let expert Kevin Leinum help you understand the many parts of Medicare and determine the right fit for you. Give me a call at 619.886.5665 to discuss the options available to you.
