Coverage

The indemnity section of a policy.  A policy may have more than one coverage.

For example, a homeowners policy may have fire coverage, liability coverage, and earthquake coverage.  Each can have it's own benefit, effective date, and other elements.

Coverages are divided into Coverage Classes.  Each class has unique characteristics and different data entry screens.  A policy can have coverages of different classes.

The coverage classes are Annuity, Life, Disability, Health, Long Term Care, and Property & Causality / Other.

In the United States, many policies have only one class of coverage.  In other countries, different coverage classes are often bundled into one policy.  A single policy may have Disability or Trauma coverage, life coverage, and a retirement plan under the same policy number.

See Also

Policy And Coverage Model

Coverage Plan Name

Coverage Class