The age you are closest to. Some insurance companies use “age nearest” to determine the cost of insurance for your policy. If you are more than 6 months from your next birthday, the insurance company will use your current age which reflects your actual age. If you are less than 6 months from your next birthday, the insurance company will use an age that is 1 year older than your actual age.
For example, assume it’s January and your birthday is in December. You are 30 years old now. The insurance company will use age 30 as your age for policy pricing. If your birthday is in May, the insurance company will use 31 as your age for policy pricing since your next birthday is less than 6 months away.
See also: Save Age; Backdating
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