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A limitation in an insurance policy on the amount of coverage available to cover a specific type of loss. A sublimit is part of, rather than in addition to, the limit that would otherwise apply to the loss. In other words, it places a maximum on the amount available to pay that type of loss, rather than providing additional coverage for that type of loss. In professional liability insurance, sublimits are usually a stated percentage of an aggregate limit of coverage under a policy. For example, under a lawyers professional liability policy written with a $500,000 aggregate limit of coverage, there may be a 10 percent sublimit on coverage (i.e., $50,000) for punitive damages. In property insurance, however, sublimits may be stated as dollar amounts or as a percentage of the limit that would otherwise apply. For example, under a commercial property policy with a $2 million limit applicable to loss from all other causes, there may be a $100,000 sublimit on coverage for loss from flood, a $500,000 sublimit on loss from earthquake, and a debris removal sublimit of 25 percent of the direct damage loss amount. In both examples, the sublimit is the most the insured can collect for the type of loss to which the sublimit applies.
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What does G. T. L. mean on a paystub?
G.T.L. on a paystub typically stands for "Group Term Life" insurance. This indicates the cost of life insurance coverage provided by the employer for the employee, which can be a taxable benefit if it exceeds a certain amount. The deduction is usually reflected in the paystub to show the amount deducted for this insurance coverage.
What do you mean by insurance coverage?
You have insurance coverage if you paid the premium required for that policy. The coverage will pay appropriate types of claims during the period of time of that policy.
What does gtl mean on a paystub?
On a paystub, "GTL" typically stands for "Group Term Life" insurance. It represents the cost of employer-provided life insurance coverage that is offered as a benefit to employees. The amount shown may be subject to taxation, depending on the coverage amount and IRS regulations. It is important for employees to understand how this benefit impacts their overall compensation and tax liability.
Your divorce decree provides your exwife with insurance but not with COBRA coverage in the event that your insurance does not provide regular coverage What does this mean?
Poor grammar. It means nothing.
If you repossess your car do you have to continue insurance coverage on that vehicle?
I take it you mean, if your car IS repossessed. In that case, IF you dont plan to redeem it, NO. NO car, NO insurance. Once the lender repos the car, they are responsible for the insurance coverage.
What does ''Catastrophic limit per person'' mean on an insurance plan?
On a health plan that is the limit the insurance company will pay over any period of time.
How do you check your auto insurance coverages?
The best way to review your coverages is to contact your Insurance Agent. Your agent can go over the terms and scope of your Insurance Policy with you and answer any question you may have.Answer:You can find your insurance coverage after determining your damage. You must also be familiar with your entitled insurance coverage mean what are the things that are included in you insurance coverage. You can determince your insurance coverage by completing the docs required for the insurance claim. A detailed procedure link for determining and claiming of insurance is submitted in "Related Link".
What does stacked insurance mean in Florida?
Stacked coverage means that you may combine your coverage limits for each automobile insured under your policy. For example, if you insure three cars and obtain stacked coverage with limits of $10,000 per person and $20,000 per accident for each auto. Your stacked, or combined, coverage will total $30,000 per person and $60,000 per accident. If the coverage was unstacked, then the limit of coverage for each vehicle would be $10,000 per person and $20,000 per accident.Stacked Uninsured Motorist Insurance is the best type of UM insurance to protect you and your family. Here is how Uninsured Motorist insurance works. It will pay for your damages if you get in an accident with an at-fault driver who does not have ANY Bodily Injury Insurance, which is called an Uninsured Motorist
What does 'stacking' mean in regard to auto insurance?
Georgia automobile insurance law states that people who purchase insurance may "stack" - or add the coverage together for each insured vehicle - for uninsured and underinsured motorist coverage.
What is p and e insurance?
You probably mean P&C" insurance. This is Property and Casualty and is a coverage for businesses of all sorts.
What are Types of dog insurance?
Learn and find all the information you need to know about dog types What exactly do you mean by types of dog insurance? Like insurance for dogs? Because there is this company called Trupanion that does dog and cat insurance. So if you are looking to get insurance for your pet, I would recommend checking their website out.
Inner limit insurance term what does it mean?
The inner limit in an insurance policy refers to the minimum amount of coverage that an insurer will provide for a specific type of loss or claim. It acts as a threshold that must be met before the insurer will begin to pay out benefits. This limit ensures that the insured party retains some level of financial responsibility for smaller losses, while the insurer covers larger claims beyond this threshold.
