A type of coverage, similar to workers compensation, which provides benefits in situations where workers compensation may not.
Insurance Encyclopedia
Voluntary contributions certificate
Issued by an FSAVC scheme to the member as evidence of his membership and contributions to the IR.
Voluntary controls
Measures that providers have agreed to establish to assist in keeping medical costs down.
Voluntary Deductible
The additional deductible opted by the insured in consideration of further discount in premium. The clause provides that the voluntary deductible opted shall be in addition to compulsory excess exclusion stipulated under “General Exclusions” attached to the basic policy or its endorsement.
Voluntary Deductible for Fire Insurance
Discount is allowed for insured opting for voluntary deductibles.
Voluntary disability insurance
Self-insured disability insurance plan used in lieu of a state plan, in which a majority of employees voluntarily consent to be covered.
Voluntary disclosure protocol
Procedure that providers follow to self-disclose claims presented to the government that are asserted to be mistaken or fraudulent. Also referred to as provider self-disclosure protocol .
Voluntary employee beneficiary association (VEBA) (Health Insurance)
A type of trust used to fund health care ahead of it being needed.
voluntary employees’ beneficiary association (VEBA)
See: 501(c)(9) trust .
Voluntary enrollee
Certain individuals aged 65 or older or disabled, who are not otherwise entitled to Medicare and who opt to obtain coverage under Part A by paying a monthly premium.