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

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 ...

French industrialist whose thesis is that all business activities revolve around six areas: technical (production), commercial (buying and selling), financing (capital employment), ...

Termination of a contractual obligation for immediate performance. For example, under the homeowners insurance policy, if the insurer refuses to pay a claim, the insured (if not satisfied ...

Corporate or government security that pays interest and obligates the corporation or government agency to pay that interest at the end of specific time intervals, and to pay the principal ...

Total of the insurance company's mortgages whose interest has not been paid for at least three months. These are mortgages upon which the insurance company is in the process of foreclosing, ...

Insurance sold by a stock insurance company that is usually in the form of nonparticipating insurance. ...

Insurance company that restricts its underwriting of risks to one state. ...

Corporations that have elected to be taxed according to the provisions of Sub chapter S of the Internal Revenue Code. In order to qualify under these provisions, the corporation can have ...

Homeowners policy to cover the owner of a townhouse. ...

Popular Insurance Questions