age setback Definition | Business Dictionaries from AllBusiness.com

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Business Definition for: age setback

age setback

subtraction of a number of years from a standard table of life insurance rates under the assumption that a particular group- women-outlive men and presumably will be paying premiums for a longer time. For example, a 38-year-old woman may pay the same premiums as a 35-year-old man. Age setback is a women's rights issue, with at least one state having legislated that men and women the same age must be charged the same rates for the life insurance they buy.

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