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What does ''Catastrophic limit per person'' mean on an insurance plan?
Wiki User
∙ 13y ago
On a health plan that is the limit the insurance company will pay over any period of time.
Wiki User
∙ 13y ago
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What does Coordination of Benefits mean?
We have coordination of benefits with Sunlife Assurance. What happens if I exceed my yearly limit of physiotherapy - does my spouse's insurance will pay for the amount above the limit and what is his limit then and if it will effect his yearly allowance or not. Also if he exceeds his limit, what happens then?
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They are talking about liability limits. A lot of companies write a "split" limit policy meaning there is a difference between the per person and total payout. i.e., in California the Minimum limits are $15,000 per person/$30,000 per accident. When they say 100/300, they mean $100,000 per person bodily injury/ $300,000 per accident bodily injury.
Should they charge extra tax insurance on anyone who is in the obese category?
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The term actuaries refers to a person who calculates the insurance risks and and premiums. They have to judge the risks regarding life insurance to work out the premiums they should give to that person or company.
What does principal driver on automobile insurance policy mean?
The principal driver is the person who drives the vehicle over 50% of the time. This is the main driver of the vehicle and the person who will be rated as the driver for computing the cost of the insurance.
What does age not admitted mean on life assurance?
"Age not admitted" on a life assurance policy means that the insurance company does not accept applicants who are above a certain age, usually the maximum age limit specified in the policy. This means that individuals above this age limit would not be eligible to apply for that particular life insurance plan.
What does the insurance term 'adjustment' mean?
The word "adjustment" when used in the context of insurance means:The monetary amount an insurance "adjuster" has determined is the appropriate payment to be made to an insured person for a claim that is covered under the insurance policy.
