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For exposed to risk, for the age definition: age last birthday on the 1 April in the policy year of death, what is the rate interval?

0 votes
asked Jun 12, 2017 in BUS 3018F - Models by Luba (130 points)

I think it is a policy year rate interval but where does the 1 April come in? Does it start for lives classified x on the individual's policy year anniversary or the 1st of April? 

1 Answer

0 votes
answered Jun 14, 2017 by joshua_wort (1,490 points)

Hi Luba

I need some context in order to properly answer this question and the age definition you have given is not well phrased in my opinion.

That being said, I think the age label changes on each policy anniversary of the life with the classification of age being based on last birthday on 1 April in the policy year, so it is a policy year rate interval.