Out-of-Pocket Limit


  • A maximum value agreed upon in an insurance policy limiting the amount of money the insured must pay before receiving full coverage after an accident or occurrence.

obligation amount, responsible portion, expense

Related Terms and Acronyms

  • Deductible Definition,
    • A payment that a policyholder must make before an insurer is required to provide benefits.
  • Qualifying Event Definition,
    • An event that qualifies for insurance coverage.
  • Unallocated Benefit Definition,
    • A requirement for health insurance policyholders to pay reasonable hospital expenses out of pocket to a certain limit.
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