Question:

What is difference between actual age & next birthday age in life insurance?

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I'm planning to have a term protect insurance of Skandia orBupa. which definite dose those company use to calculate my age? and is it difined in a membership book or something?

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  1. if you are about to apply for insurance and are going to turn 40  in six months and one day, you will be 41. if you apply before then, you are 40.  little confusing, but just make sure you apply six months before your next birthday for a cheaper rate.  it's not the approval date, it's the date you sign the forms and pay your first premium to them.


  2. The actual age is your age today.  The birthday age, is your age at whichever birthday is closest.  IF your birthday is tomorrow, add a year to your actual age.  If it was yesterday, subtract a year.

  3. Actual age is just that, your actual age.  Nearest birthday, is the age that you are closest to.  For example, if your birthday is July 1, 1970 then your actual age would be 38.  But, your nearest age would be 39, because you are actually closer to age 39 than you are age 38.

  4. One is different then the other! DUH

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