Percentage Participating Deductible
(stop loss) amount over which a health insurance plan pays 100% of the costs in a percentage participation plan. Here, an insured shares costs with the insurer according to some predetermined ratio. For example, an insured may pay 20% of covered costs and the insurer 80%. However, most group medical plans pick up all covered expenses over a certain deductible amount or specified dollar limit. For example, once the insured has paid a $2000 deductible amount, the plan may pay 100% of covered expenses for the remainder of the policy year.
Popular Insurance Terms
Benefits provided to and obtained by those insured, while still alive. They include the annuity, cash surrender value, disability income, policy loan, and waiver of premium (WP). ...
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Removal of money from an individual life insurance policy or an employee benefit plan. A cash withdrawal from a life insurance policy reduces the death benefit by the amount of the ...
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