What does Annual Aggregate Limit mean? Read on to discover the definition & meaning of the term Annual Aggregate Limit - to help you better understand the language used in insurance policies.
Annual Aggregate Limit
The annual aggregate limit is the maximum amount of coverage an insurance policy provides over a policy year. It is found in a wide variety of insurance types, such as auto, health, and property. Once covered expenses reach the annual aggregate, the policy stops paying out benefits, even if subsequent legitimate claims are filed. In many cases, it is the same as the aggregate limit as many policies only last for a year.
We hope the you have a better understanding of the meaning of Annual Aggregate Limit.