Individual policy definition

Individual policy means an individual or family policy or subscriber contract issued by an insurer.

Individual policy means an insurance policy whereby an insured receives hospital or medical coverage on either an expense incurred or service basis, other than for specified diseases or for accidental injuries, and a long−term care insurance policy.

Individual policy means a policy named as an Individual Policy in the Policy Schedule or Certificate of Insurance under which one or more persons are covered as Insured Persons.

Examples of Individual policy in a sentence

• We will reimburse the amount equal to 1% of the sum insured max up to Rs. 5000/- for each member in Individual policy during the block of 3 years.

• We will reimburse the amount equal to 1% of the sum insured max up to Rs. 2000/- for each member in Individual policy during the block of 3 years.

• Commissions paid to insurance intermediaries (for Individual policy) – 15% of premiumii.

• In case of Individual policy, the benefit will be available for all insured persons who were already covered under the Policy.

• Types of transfers include, but are not limited to moving from one Employer's plan to another, from a Group policy to a Plan to an Individual policy, an Individual policy to a Group policy or Plan, or a policy with one insurance Company to a policy with another insurance Company.

More Definitions of Individual policy

Individual policy means a Policy described as such in the Policy Schedule where the individual named in the Policy Schedule is the Insured Person under this Policy.

Individual policy means, with respect to life insurance and sickness and accident insurance, a policy other than a group policy, except that "individual policy" also includes all of the following:

Individual policy means an individual policy of insurance providing coverage for the Executive and his dependants.

Individual policy means a policy under which a particular person is the life insured, or two or more particular persons having an insurable interest in each other are the lives insured jointly;

Individual policy or "converted policy" means an individual health insurance policy issued by an insurance company or an individual contract issued by a service corporation or health maintenance organization or similar corporation or organization.

Individual policy means a policy other than a group policy issued to a person, and includes a policy that is underwritten on a group basis;

Individual policy means a policy of insurance in respect of which the policy owner is an individual;