Under major medical policies, the maximum dollar benefit that each insured and each insured dependent is entitled to receive for the aggregate of expenses incurred for all diseases or injuries suffered during his or her lifetime. Also known as aggregate amount.
The lifetime maximum amount is the amount the plan will pay in benefits for each covered person in a lifetime.
this is the maximum amount of benefits that your insurance coverage could pay. The maximum lifetime benefit can also be referred to as a "pool of money". Your maximum lifetime benefit is calculated by multiplying your daily maximum benefit amount times the number of days in the benefit period you selected.
cap on the benefits paid by the insurance company under a policy. Many policies have a lifetime limit of $1 million, which means that the insurer agrees to cover up to $1 million in covered services over the life of the policy.
This is the largest dollar amount that we will pay toward all health-care services during an individual's lifetime.
the maximum amount a health plan will pay in benefits to an insured individual.
The lifetime maximum benefit is the maximum amount that a long-term care insurance company will pay for all covered expenses throughout the life of a policy. The lifetime maximum benefit is often described as a pool of money that an insured can draw against. When the lifetime maximum benefit is exhausted, the pool is dry and the policy will not pay any more benefits.
For a medical expense insurance policy, the maximum amount that an insurer will pay for all eligible medical expenses that an individual incurs while insured under the policy.
