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Altersrueckstellung

English translation: Old age provision

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Altersrueckstellung
English translation:Old age provision
Entered by: Hilary Davies Shelby
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23:26 Jan 30, 2004
German to English translations [PRO]
Medical - Insurance / health insurance
German term or phrase: Altersrueckstellung
Hi all,
I am looking for the correct term for this - maybe something like age provisions? Its a special provision that means that your health insurance premiums will not increase as you get older... and a US term if possible, please!

Thanks very much in advance!

Kostensteigerungen im Gesundheitswesen werden auch in Zukunft zu steigenden Beiträgen in der
gesetzlichen und privaten Krankenversicherung führen. Ihre Versicherungsbeiträge bleiben in jedem
Fall bezahlbar - auch im Alter.
Dafür sorgen:
o die bereits im Beitrag einkalkulierten Altersrückstellungen
o die zusätzlichen Altersrückstellungen aus Überschüssen
Hilary Davies Shelby
United States
Local time: 20:59
old age provision
Explanation:
This is how it's translated in the relevant law (alternatively Alterungsrückstellung - ageing provision).

It's a reserve built by the insurance company, which sets aside (in Germany at least) 10% of people's premiums until they are 60. The surplus generated is used to cover the higher risk of claims beyond that age.

Cannot tell you if this is the term used in the US.
Selected response from:

Deborah Shannon
Germany
Local time: 03:59
Grading comment
Thanks to all who replied, especially so late at night! This was exactly what I was looking for - and the explanation actually helped me with a later bit of the text which referred to the 10%. Much appreciated!

And Antoinette, I spent 3 years in SA and am planning a trip there in March, maybe we can meet up!

4 KudoZ points were awarded for this answer



Summary of answers provided
5 +1guaranteed premiums toward e.g. health insurance
Antoinette-M. Sixt Ruth
4 +2old age provision
Deborah Shannon
4reserve for old age
swisstell


  

Answers


4 mins   confidence: Answerer confidence 5/5 peer agreement (net): +1
guaranteed premiums toward e.g. health insurance


Explanation:
And yes, I do live in the US.

--------------------------------------------------
Note added at 6 mins (2004-01-30 23:33:23 GMT)
--------------------------------------------------

As a matter of fact, right here in San Antonio, TX.

Antoinette-M. Sixt Ruth
Local time: 20:59
Works in field
Native speaker of: Native in GermanGerman, Native in EnglishEnglish
PRO pts in category: 4

Peer comments on this answer (and responses from the answerer)
agree  ezbounty@aol.co
1 hr
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10 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
reserve for old age


Explanation:
reserve for retirement years

swisstell
Italy
Local time: 03:59
Native speaker of: German
PRO pts in category: 63
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56 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
old age provision


Explanation:
This is how it's translated in the relevant law (alternatively Alterungsrückstellung - ageing provision).

It's a reserve built by the insurance company, which sets aside (in Germany at least) 10% of people's premiums until they are 60. The surplus generated is used to cover the higher risk of claims beyond that age.

Cannot tell you if this is the term used in the US.


    Reference: http://www.iuscomp.org/gla/statutes/VAG.htm
Deborah Shannon
Germany
Local time: 03:59
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 22
Grading comment
Thanks to all who replied, especially so late at night! This was exactly what I was looking for - and the explanation actually helped me with a later bit of the text which referred to the 10%. Much appreciated!

And Antoinette, I spent 3 years in SA and am planning a trip there in March, maybe we can meet up!

Peer comments on this answer (and responses from the answerer)
agree  xxxBrandis
1 hr

agree  Mandy Williams
8 hrs
Login to enter a peer comment (or grade)




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