What does Scheduled Loss mean? Read on to discover the definition & meaning of the term Scheduled Loss - to help you better understand the language used in insurance policies.
A permanent partial disability that is rated and paid based on a schedule in the state statute. Unscheduled disabilities are rated based on subjective estimates of permanent disability.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of Scheduled Loss. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: