Indemnity Benefit
What Does 'Indemnity Benefit' Mean?
This is a fixed amount of money paid to a policyholder when care is received, regardless of the cost of care. A policy with a $100 a day Indemnity Benefit will pay $100 a day for each day you qualify for care regardless of the expense incurred.
More Information
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.