Indemnity insurance

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Indemnity Insurance

An insurance policy that pays the policyholder a certain amount per day after the insured event occurs. For example, if a policyholder is hospitalized, he/she may make a claim on his/her indemnity insurance policy and receive $150 per day. Thus, indemnity insurance does not cover specific expenses, but rather provides a flat fee. It is useful as a supplement to primary insurance because indemnity insurance may not provide enough to cover the policyholder by itself.

Indemnity insurance.

An indemnity insurance policy pays up to a fixed amount when you make a claim, often on a per-day basis.

The premiums on health insurance indemnity plans may be lower than on other heathcare plans, but the fixed payments may cover only a portion of your medical bills.

Some people use indemnity plans as supplements to, rather than substitutes for, more comprehensive health insurance. Others use low-cost indemnity plans for short-term coverage.

References in periodicals archive ?
Explain how hospital indemnity insurance complements existing coverage.
In September 2015, the judge granted an injunction prohibiting HHS from requiring fixed indemnity insurance buyers to have minimum essential coverage.
It provides historical values for the professional indemnity insurance market for the report's 2010-2014 review period and forecast figures for the 2015-2019 forecast period
But with indemnity insurance in place to protect the purchaser against the costs of any future legal challenge, the sale can proceed in the normal way.
A fear of claims stemming from regulators instigating reviews of past selling practices mean that professional indemnity insurance companies are now cherry-picking firms to whom they will offer insurance, on the basis that they are unlikely to make large claims.
IRELAND'S accountants yesterday set out demands for an examination of the professional indemnity insurance field by the Government's Competition Authority.
It takes the independence of traditional indemnity insurance and managed care and combines them under one policy, allowing its members to get care in or out-of-network and with or without a gatekeeper's permission.
Deposits and Guarantees required: Coverage of the professional indemnity insurance
NYSE:CI) has introduced Cigna Hospital Care, a voluntary group indemnity insurance policy that pays a lump sum to an insured who is admitted to a hospital for a covered injury or illness.