Health · Chapter 16 · Policy Structure
Benefit Period & Benefit Amounts
Definition
Benefit period = max time paid per claim (2/5/10 years or to 65; longer = pricier; insurers shorten it for substandard/hazardous risks instead of rating up). Amounts: capped near 60% of gross (or 80% of net) income. Flat amount approach (individual — fixed dollars, doesn't track income) vs percentage-of-earnings (group — benefit floats with wages).
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
Related terms