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
Latin phrase meaning "without which not," signifying a legal rule in tort and negligence cases. Under this rule, a plaintiff trying to prove that an injury was a direct result of a ...
One of two bureaus that writes forms and files standard rates for inland marine insurance. The other is the inland marine insurance bureau. ...
Property to be insured, or that is insured, which is located within the specific geographical region falling under the auspices of the fire department. ...
Professional designation earned after the successful completion of four national examinations given by the insurance institute of America (IIA). Covers such areas of expertise as the ...
In automobile insurance, coverage providing protection in the event of physical damage to the insured's own automobile (other than that covered under comprehensive insurance) resulting from ...
Commission that is paid based on how profitable a particular type of business proves to be that is written by an agent. ...
Rules passed as part of the tax reform act of 1986 that limit the amount of income investors can shelter from current tax. Losses can be deducted from passive activities only in the amount ...
Option to an insurance company to replace, reconstruct (repair), or reproduce (rebuild) damaged or destroyed property covered by property insurance rather than indemnify an insured in cash. ...
Combination life insurance policy composed Of TERM LIFE INSURANCE and an INSTALLMENT REFUND ANNUITY. ...
Have a question or comment?
We're here to help.