A method used by life underwriters when charging an extra premium to under average lives. The underwriter adds a number of years to the proposer’s age in order to determine the actual premium that will be charged.
Insurance Encyclopedia
Additional benefits
Health care services not covered by Medicare and reductions in premiums or cost sharing for Medicare-covered services. Additional benefits are specified by the Medicare Advantage (MA) Organization and are offered to Medicare beneficiaries at no additional premium. Those benefits must be at least equal in value to the adjusted excess amount calculated in the adjusted or average community rate (ACR). An excess amount is created when the average payment rate exceeds the adjusted community rate (as reduced by the actuarial value of coinsurance, copayments, and deductibles under Parts A and B of Medicare). The excess amount is then adjusted for any contributions to a stabilization fund. The remainder is the adjusted excess, which is used to pay for services not covered by Medicare and/or is used to reduce charges otherwise allowed for Medicare-covered services. Additional benefits can be subject to cost sharing by plan enrollees. Additional benefits can also be different for each MA plan offered to Medicare beneficiaries.
Additional commission
The commission at a fixed or variable rate that the reinsurer pays to the reinsured if the loss ratio is below a specified percentage.
Additional cost clauses
Fire policy clauses covering additional costs such as the cost of removing debris or complying with public authorities requirements. Cover is subject to the adequacy of the sum insured. See PUBLIC AUTHORITIES CLAUSE; DEBRIS REMOVAL CLAUSE.
Additional Cover
An Insurance Policy extended to cover additional risk perils such as Strikes, Riot and Civil Commotion etc. on payment of extra premium.
Additional death benefit
An extra benefit payable upon the insured’s death.
Additional diagnosis
See: secondary diagnosis and other diagnoses.
Additional documentation request (ADR)
Form issued by a Medicare administrative contractor (MAC) to a provider asking for more information in a patient’s medical record so that coverage, coding, and payment determination can be made concerning a claim.
Additional Expenses of Rent for an Alternative Accommodation Clause, Add On Peril under Standard Fire and Special Perils Policy
Additional Expenses of Rent for an Alternative Accommodation is covered in respect of non-manufacturing risks under material damage policy only and not under Consequential Loss (Fire) policy. The period of indemnity is limited during which the original premises remain untenable as a result of occurrence of perils insured against subject to a maximum indemnity period not to exceeding 3 years. The additional expenses recoverable means the additional rent actually paid i.e., the difference between the new and the original rent paid. Insurance for this extension is available only if it involves actual physical damage to the building. The cover does not intend to pay if for instance the insured’s entry is barred by strikers, demonstrators and similar occurrences. Cover is permitted to tenant as also to the Owner-occupant. For owner-occupant the alternative accommodation is limited to the area under his occupation. For the owner-occupant the notional rent rateable by Municipal/Revenue may be treated as the original rent for the purpose of this clause. Owner-occupant to cover both building and contents whereas the tenant to insure the contents of the premises for which seeking this extension.
Additional Extended Coverage
An endorsement for policies covering dwellings and similar property, extending the coverage to include Insurance against Direct loss caused by water damage from plumbing and heating system or bursting of system as hot water system, and malicious mischief, glass breakage as well as fall of trees and collapse.