Insurance Claim


DEFINITION of 'Insurance Claim'

A formal request to an insurance company asking for a payment based on the terms of the insurance policy. Insurance claims are reviewed by the company for their validity and then paid out to the insured or requesting party (on behalf of the insured) once approved.

BREAKING DOWN 'Insurance Claim'

Insurance claims cover everything from death benefits on life insurance policies to routine health exams at your local doctor. In many cases, claims are filed by third parties on behalf of the insured person, but usually only the person(s) listed on the policy is entitled to claims payment.

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  1. How are open market operations and monetary policy related?

    An aggregate limit is the maximum amount an insurance company agrees to pay to cover claims during a defined period, generally ... Read Full Answer >>
  2. Can you sue an insurance company for not paying a claim over a waiver of subrogation ...

    Waiver of subrogation clauses generally protect a specific party from lawsuits. Signing a waiver of subrogation means a party ... Read Full Answer >>
  3. Is a waiver of subrogation clause better for a tenant or a landlord?

    A waiver of subrogation clause is good for both a tenant and a landlord. A waiver of subrogation is a two-way agreement in ... Read Full Answer >>
  4. Who are the best-rated home insurance companies in the US?

    Based on consumer surveys, the best company for homeowners insurance in 2014 is Amica Mutual. Present and past insurance ... Read Full Answer >>
  5. What's the difference between a grace period and a run out period?

    A health flexible savings account, or health FSA, is an account that you contribute money to where the funds are dedicated ... Read Full Answer >>
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    You can borrow from your annuity to put a down payment on a house, but be prepared to pay an assortment of fees and penalties. ... Read Full Answer >>

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