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
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Same as term Cancellation Provision Clause: provision permitting an insured or an insurance company to cancel a property and casualty or a health insurance policy (circumstances vary; see ...
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