Limitations On Amount Of Monthly Benefits
Definition of "Limitations on amount of monthly benefits"
Clause in some disability income insurance policies under which there is a maximum an insured can receive from all sources of disability income benefits. For example, the clause may stipulate that all sources of disability income cannot exceed 50% of the insured's gross earnings prior to the disability.
Popular Insurance Terms
Insured's income prior to the disability minus the insured's income after the disability. ...
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Cancellation of a policy according to its effective date excluding any premium charge. ...
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Means of setting life insurance reserves based on expected mortality rates as reflected in a mortality table. ...
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Protection of the property of the business that is damaged or destroyed by perils such as fire, smoke, and vandalism; and/or if the actions (or nonactions) of the business' representatives ...
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