Long-term Disability Income Insurance
Definition of "Long-term disability income insurance"
Coverage that provides monthly income payments for as long as an insured remains disabled. The insurance policy defines the nature of the disability it covers. Most policies discontinue income payments beyond age 65.
Popular Insurance Terms
Fee that is most consistent with that of physicians, hospitals, or other health providers for a given procedure; usual fee for a procedure charged by the majority of physicians with similar ...
Mortality table, morbidity table that does not include current statistical experience. ...
Insurance coverage that protects a contractor or other type of business providing a service for expenses incurred in the event a contract is not ratified by a foreign government. For ...
Obligatory reinsurance contract in which a reinsurer agrees to pay for all or a large portion of losses up to a limit, when these losses exceed the retention level of the cedent. The ...
Combination of an interest rate cap and an interest rate floor, creating a band within which interest rates can range. For example, if an interest rate band is between 6% and 10%, the ...
Endorsement to an automobile insurance policy that protects an insured in either or both of two circumstances when driving a non owned car: business endorsement if the insured's negligent ...
Form of coverage in which an insurer automatically reinsures individual risks with its reinsurer. The insurer must transfer (cede) the risks to its reinsurer and its reinsurer must accept ...
Life insurance policy under which all premiums have already been paid, with no further premium payment due. ...
The open perils policy is the counterpart to the named perils policy. In it, any peril NOT mentioned is covered by the policy. Here's an example: let's say you got an open perils policy ...
Have a question or comment?
We're here to help.