Definition:

Indemnity Benefit

This is a fixed amount of money paid to a policyholder when care is received, regardless of the cost of care. A policy with a $100 a day Indemnity Benefit will pay $100 a day for each day you qualify for care regardless of the expense incurred. Indemnity Benefits require that care be received. See also Cash Benefit.

Follow Matt McCann On Social Media

Be informed of industry news and topics as they occur.