What is the Definition of Medical Payments Insurance?

What is the Definition of Medical Payments Insurance?

A coverage in which the insurer agrees to reimburse the insured and others up to a certain limit for medical or funeral expenses as a result of bodily injury or death by accident. Payments are without regard to fault.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Medical Payments Insurance?

What is the Definition of Medical Payments Insurance?

You can find random definition and meaning of insurance terms below:


Meaning of C-Share Variable Annuities in Insurance Terms

A form of variable annuity contract where the contract holder pays no sales fee up front or surrender charges. Owners can claim full liquidity at any time.


Meaning of Captive Agent in Insurance Terms

A person who represents only one insurance company and is restricted by agreement from submitting business to any other company, unless it is first rejected by the agent’s captive company. (See Exclusive agent)


Meaning of Captives in Insurance Terms

Insurers that are created and wholly owned by one or more non-insurers, to provide owners with coverage. A form of self-insurance.


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