What does Maximum Limit mean? Read on to discover the definition & meaning of the term Maximum Limit - to help you better understand the language used in insurance policies.
A maximum limit, in the context of insurance, is the total amount of money that an insurance company will pay over a period of time to satisfy a policyholder's claims. Thereafter, it is the responsibility of the policyholder to cover the cost of services or treatments. A maximum limit usually applies to one policy year; however, this is not always the case.
We hope the you have a better understanding of the meaning of Maximum Limit.