Indemnity Benefit
Quick Description
Indemnity benefits are a fixed amount of money a policyholder receives when they need care, regardless of the actual care cost.
Full Description
An indemnity benefit is a fixed amount of cash benefits paid to a policyholder regardless of the cost of care. The policyholder will receive this benefit when they receive care.
For example, a policy with $100/day of indemnity benefits will pay out $100/day for each day you qualify for care. You'll receive this amount regardless of the expenses incurred as long as you receive care.