Maximum Age (Höchstalter)
Maximum age is the contractually or tariff-defined upper age limit up to which a person may enter into or remain covered under a life, health, or pension insurance policy.
Concept
Maximum age refers to the upper limit on entry age defined in an insurance tariff, or alternatively, the age at which cover ends or changes materially (e.g., conversion from term life cover into a basic benefit). It serves the insurer as a means of limiting the risk that increases with advancing age.
Application in Life and Health Insurance
In term life insurance, a maximum entry age is frequently defined beyond which no new policy can be issued, as the mortality risk beyond a certain age is no longer considered calculable for the selected tariff. In private health insurance, a maximum age can be relevant for switching between certain tariffs (e.g., standard or basic tariff), while in occupational pension provision, the maximum age often corresponds to the statutory retirement age.
Distinction from Maturity Age
While maximum age primarily describes the entry or continuation limit of a contract, maturity age refers to the age defined in the respective contract at which the insurance benefit becomes due or the contract term ends; the two concepts are closely related but not identical.