Qualifying Event

Definition

  • An occurrence, accident, or event that qualifies a policyholder to receive benefits as outlined by the insurance policy.

Synonyms
qualifying act, qualifying occurrence, incident, insurance trigger, proceeding, accident, enforceable claim

Related Terms and Acronyms

  • Elimination Period Definition,
    • The wait that spans from when a claim is initially filed to when benefits are eventually paid by an insurer.
  • Insurance Claim Definition,
    • An application for benefits made by an insurance policyholder after an insured event.
  • Occurrence Definition,
    • An event that triggers the need for insurance coverage.
  • Out-of-Pocket Limit Definition,
    • A cap on the amount of costs a policyholder will ever need to pay with their own money without receiving benefits.
  • Valuation Clause Definition,
    • A clause in an insurance contract that states how much an insurer is willing to pay for an asset after an insured event.
  • Waiting Period Definition,
    • The amount of time that must pass before something occurs.
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