MEDICAL,USA: 1. Maximum amount of insurance benefits payable under an insurance or managed care contract. 2. Restriction or denial of insurance coverage to certain age groups.
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expressed either on a per occurrence basis (e.g., per accident or event) or on an aggregate basis (e.g., all losses under a single policy, or for all policies during an underwriting period).
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Maximum amount a policy will pay either overall or under a particular coverage.
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Maximum amount for which an Insurer may be liable for any loss, as set forth in the Policy.