Dismemberment Insurance
Definition of "Dismemberment insurance"
Same as term Accidental Death and Dismemberment Insurance: form of accident insurance that indemnifies or pays a stated benefit to insured or his/her beneficiary in the event of bodily injury or death due to accidental means (other than natural causes). For example, an insured's arm is severed in an accident. A predetermined schedule of payments is used to compensate the insured for this particular loss. The schedule also lists the sums payable for other parts of the body that may be lost, or for death by accident.
Popular Insurance Terms
Paid loss experience for the period of time from January 1 to December 31 of a specified year (not necessarily the current year). ...
Insurance sold by privately formed insurance companies with the objective of making a profit. ...
Qualified retirement plan under the internal revenue code Section 457 for employees of the states and political subdivisions within the states. ...
Professional designation earned after the successful completion of three national examinations given by the insurance institute of America (IIA). Covers such areas of expertise as ...
Probability of one's living to a specific age according to a particular mortality table. Life expectancy is the beginning point in calculating the pure cost of life insurance and annuities ...
Interest rate credited on three-month United States Treasury bills. ...
Unexpected, unforeseen event not under the control of the insured that results in bodily injury. ...
Model state law of the NAIC that requires that applicant be furnished a Buyer's Guide to Annuities and a contract summary. The Buyer's Guide must contain information concerning: the various ...
Federal legislation passed in 1988 (repealed November 23, 1989) that significantly increased the benefit amounts provided under medicare, both Part A and Part B, in the following manner: ...
Have a question or comment?
We're here to help.