Disability Benefit, Commercial Health Insurance
Definition of "Disability benefit, commercial health insurance"
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.
Popular Insurance Terms
Price an investor is willing to pay for a financial asset. ...
Coverage in the event an insured's negligent acts and/or omissions involving the construction of a new one- or two-family residential structure result in bodily injury and/or property ...
Exposures usually excluded from life and health insurance, or subject to a maximum limit if covered. ...
Coverage on an all risks basis for goods in transit, bailment, and while on the premises of others. ...
Insurance with two types of policies available: depositors forgery insurance; forgery and alteration. ...
Provides coverage during the construction of a bridge in the event of fire, lightning, collision, flood, rising water, windstorm, ice, explosion, and earthquake. This coverage is essential, ...
Costs incurred by an insurance company other than agent commissions and taxes; that is, mainly the administrative expense of running a company. ...
Agents' records showing when clients' policies expire. ...
Arrangement between two or more insurance companies under which the parties to the agreement waive their subrogation rights against the other. Most such agreements are no longer in use. ...
Have a question or comment?
We're here to help.