Corridor Deductible
Definition of "Corridor deductible"
Type of major medical deductible amount that acts as a corridor between benefits under a basic health insurance plan and benefits under a major medical insurance plan. After benefits are paid under the basic plan, a fixed dollar per-loss deductible amount often is required of the insured (benefits paid under the basic plan do not apply towards this deductible) before major medical benefits are paid.
Popular Insurance Terms
Trading of stock to enhance portfolio performance and reduce taxes. This practice is followed when the investor has accumulated losses on stocks and sells these stocks in order to use the ...
Property coverage for a builder of ships until possession passes to the owners. Protects against pre-launch and post-launch perils. Coverage can be purchased on an all risks basis subject ...
All sources of cash flow, usually stated on an annual basis. ...
services provided in an employee benefit plan such as a pension plan. An employer provides the clerical staff to operate the plan, in effect acting as custodian. The trustee provides ...
Investment risk associated with the changes in government policies that may have a dramatic effect on financial instruments. For example, if federal legislation is passed removing the ...
Combination of property insurance on the hull of an airplane and liability insurance in the following manner: property coverage provided on an ALL RISKS basis or on a specified perils ...
Use of a life insurance policy dividend by the owner of a participating policy. Here the policy dividend is left with the insurance company to accumulate at a guaranteed minimum interest ...
Specific time at which the insurance policy coverage begins and ends. ...
Coverage for all kinds of personal property whether inside or outside an insured's (home) to include jewelry, musical instruments, cameras, fine arts, and precious stones. The insurance ...
Have a question or comment?
We're here to help.