Disability Benefit, Commercial Health Insurance

Definition of "Disability benefit, commercial health insurance"

The Rapacioli Group real estate agent

Written by

The Rapacioli Groupelite badge icon

LAER Realty Partners

Same as term Disability Benefit: income paid under a disability policy that is not covered under workers compensation benefits. It is usually expressed as a percentage of the insured's income prior to the disability, but there may be a limit on the amount and duration of benefits. The most advantageous policy pays a monthly disability income benefit for as long as the insured is unable to perform suitable job functions determined by experience, education, and training.

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

Provision in an insurance policy allowing an initial premium to be charged, but subject to adjustment during the period of coverage or at the end of coverage depending on the actual loss ...

Contract sold by an insurance company under which the premium payment frequency (monthly, quarterly, semiannually, yearly) may vary and the amount of each premium payment (usually subject ...

Social insurance that provides benefits to temporarily disabled workers in a few states. Five states require employers to pay cash benefits if workers are disabled. They are Rhode Island, ...

Actuarial evaluation of the assets of a pension plan according to the fair market value of the assets. ...

Life insurance company whose agents sell ordinary life insurance and industrial life insurance. ...

Method of using reinsurance to counteract the unexpected impact of business on the policyholder surplus. ...

Means of financing by which some large organizations pay their property or liability insurance premiums to reflect losses actually paid during the first year of coverage, plus claims ...

Limited number of payments, the first of which is due immediately, and payments thereafter are contingent upon the designated beneficiary (the annuitant) continuing to live. After the limit ...

Special policy blank issued by an insured for individual shipments or other purposes under an open policy. The open policy allows an insured to buy protection for all marine business for an ...

Popular Insurance Questions