Definition of "Medical"
Same as term Medical Examination: physical checkup required of applicants for life and/or health insurance to ascertain if they meet a company's underwriting standards or should be classified as substandard or uninsurable. Physicals are administered by medical personnel selected by the insurance company at its expense. Physicals may also be used to determine extent of disability for insurance purposes.
Popular Insurance Terms
Written agreement that puts insurance coverage into effect. ...
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Total earned premiums minus total expenses and losses paid of the insurance company. ...
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Method whereby an insurer pays the amount of each claim for each risk up to a limit determined in advance and the reinsurer pays the amount of the claim above that limit up to a specific ...
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