Personal Catastrophe Insurance
Definition of "Personal catastrophe insurance"
Excess coverage over the first layer of medical insurance to provide for catastrophic medical payments. The first layer may be either group or individual medical insurance, or an individual may choose to pay for ordinary medical payments and buy insurance for those losses above a certain amount.
Popular Insurance Terms
Insurance company that has the authority to assess or charge its policyholders for losses that the company is incurring. This company is sometimes called stipulated premium company or ...
Same as term Tabular Plans: retrospective rating system with basic, minimum, and maximum premium rates listed in manual tables. Calculation of an individual premium involves adjusting the ...
Actual morbidity experience of an insured group as compared to the expected morbidity for that group. ...
Physical handing of an insurance policy to the insured. Sales training emphasizes the importance of delivery of a policy by the agent. This develops a caring attitude on the part of the ...
One of the major underwriting organizations for insurance company pools insuring commercial aircraft liability exposure. ...
Time limit on the deferred ownership of property such that, 21 years after the property owner dies, the deferred ownership of that property terminates. ...
Coverage to pay basic expenses for an insured and his or her family in states with no fault automobile insurance. No-fault laws generally require drivers to carry both liability insurance ...
Measurement of income received by households from employment, self-employment, or investment and transfer payments, as provided monthly by the United States Department of Commerce. ...
Dividend paid in addition to the regular dividend on a participating insurance policy. ...
Have a question or comment?
We're here to help.