Aggregate Benefit Amount definition
Aggregate Benefit Amount means, subject to satisfaction of all policy terms and conditions by the Insured, the aggregate amount of benefit for which the Owner or assignee can be paid (usually monthly) for Key Person Replacement under the policy. The policy may also specify a maximum monthly amount of benefit.
Aggregate Benefit Amount means, subject to satisfaction of all policy terms and conditions by the insured, the maximum amount of benefit for which the owner or assignee can be paid either in a lump sum and/or divided into monthly installments, as described in the policy specifications page.
Aggregate Benefit Amount means, subject to satisfaction of all policy terms and conditions by the insured, the aggregate maximum amount of benefit for which the owner or assignee can be paid either in a lump sum and/or divided into monthly installments, as described in the policy specifications page (usually monthly) for Business Overhead Expenses under the policy. The policy may also specify a maximum monthly amount of benefit.
More Definitions of Aggregate Benefit Amount
Aggregate Benefit Amount means, subject to satisfaction of all policy terms and conditions by the Insured, the maximum amount of benefit that the policy may pay, either in a lump sum and/or divided into monthly installments, as described in the policy specification page.
Aggregate Benefit Amount means, subject to satisfaction of all policy terms and conditions by the insured, the aggregate amount of benefit for which the owner or assignee can be paid (usually