Insurance terms
Welcome to our terminology page! Here, you'll find a comprehensive list of key terms and definitions relevant to the health insurance space.
All insurance terminologies
Limit of Liability
A limit of liability is the most an insurance company would pay a policyholder who loses a lawsuit. The policy terms explain exactly how much. In case the policyholder is sued and owes more than the limit of liability provided in the coverage, they would need to pay the rest for the damages out-of-pocket.