What does Extension of Benefits mean? Read on to discover the definition & meaning of the term Extension of Benefits - to help you better understand the language used in insurance policies.
Extension of Benefits
An extension of benefits is a situation in which a policyholder can continue receiving benefits from their healthcare policy after it expires if they are hospitalized or sick and are temporarily unable to work. Typically, this extension will end once the insured is healthy again and returns to work.
We hope the you have a better understanding of the meaning of Extension of Benefits.