Life insurance companies use a method called “age nearest” to determine the age the policy premiums are based upon. The age nearest method calculates the issue age based on the nearest age to your policy date. For example, if your date of birth is February 20th, 1984 and today’s date is January 20th, 2019, the issue age would be 35, even though your actual age is 34 and you won’t be 35 for another month.
