Definition of "Corridor deductible"

Elena Kemper  real estate agent

Written by

Elena Kemper elite badge icon

Esslinger-Wooten-Maxwell, Inc.

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.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Section describing coverages under a policy. Elsewhere in the policy other sections may restrict or exclude coverages. ...

Company formed and operated without the profit motive as its normal business objective; normally sells and services health insurance policies. ...

Law that established rules and regulations to govern private pension plans, including vesting requirements, funding mechanisms, and general plan design and descriptions. For example, three ...

Same as term Conditional Sales Floater: coverage for the seller of property on an installment or conditional sales contract if it is damaged or destroyed. For example, a television set is ...

Same as term Comprehensive Insurance: complete coverage for hospital and physician charges subject to deductibles and coinsurance. This coverage combines basic medical expense policy and ...

Information generated by the medical information bureau (MIB) and made available to member companies concerning medical information of applicants for life and health insurance. Member ...

Licensed agent's signature on an insurance policy. ...

Trust in which the trustee distributes capital and income to the beneficiaries of the trust according to their economic needs. ...

Rate not subsequently adjusted. The rate stays in effect regardless of an insured's subsequent loss record. ...

Popular Insurance Questions