Equivalent Single Age (ESA)

In the context of life insurance, "Equivalent Single Age (ESA)" is a calculated age used to determine the premium rate for a joint policy. This age is derived by applying specific rating criteria to the ages of the individuals covered under the joint policy, providing a single age that reflects the combined risk profile of the insured individuals.

Key aspects of Equivalent Single Age (ESA) include:

1. Calculated Age: Represents the combined risk of individuals in a joint policy.
2. Rating Criteria: Based on the ages and risk factors of the insured persons.
3. Premium Determination: Used to assess the appropriate rate for the policy.