päättymisikä

Päättymisikä, meaning "termination age" or "expiry age" in Finnish, refers to the age at which a specific right, contract, or legal status ceases to be valid or applicable. This concept is commonly encountered in various legal and financial contexts.

In insurance policies, päättymisikä can denote the age at which coverage ends, particularly for life insurance or certain types of health insurance. Once an individual reaches this age, the policy is no longer in effect, and no further benefits are payable.

Similarly, in the context of retirement funds or pensions, päättymisikä might indicate the age at which payouts can commence or are mandated to begin. This is often linked to the age at which one is eligible for state pensions.

Legal agreements, such as leases or service contracts, can also incorporate a päättymisikä, signifying the date or age when the agreement naturally concludes. This avoids the need for explicit termination notices if both parties intend for the contract to expire automatically.

The specific definition and implications of päättymisikä are always dependent on the particular law, contract, or regulation governing the situation. It is a crucial term for understanding the duration and limitations of various rights and obligations.