What does 'attained age' refer to in policy conversion?

The term 'attained age' in the context of policy conversion refers to the age of the insured at the time of conversion of their policy. This means that when a policyholder transitions from one type of insurance policy to another, their premium rates and benefits are often determined based on how old they currently are—this is referred to as their attained age.

Understanding attained age is essential in health insurance because it impacts the cost and coverage of the new policy. For example, as individuals age, the risks associated with insuring them typically increase, which can lead to higher premiums.

In contrast, other terms such as the age at policy initiation or the current age of the policyholder may seem related, but they do not accurately reflect the specific effect that the age at the time of conversion has on the insurance rates and terms. Similarly, while the age at which the policy converts might seem relevant, it does not encompass the direct implications of the insured's current age affecting policy terms during the conversion process.