What are aggregate benefits?
Asked by: Garth Hauck | Last update: October 17, 2025Score: 4.8/5 (73 votes)
What is aggregate amount paid?
It's the maximum amount an insurer will pay out for each individual claim you make. So, if you buy a million-dollar policy, that million dollars is the aggregate limit — the total amount your insurer will pay over the policy's term.
What is the maximum aggregate benefit?
Maximum Aggregate Benefit means the amount set forth in the Schedule as the maximum total Aggregate Benefit payable under the terms, conditions and limitations of this Contract during the Contract Period.
What does it mean to aggregate a claim?
The “Aggregate” amount represents the maximum an insurance company will pay for all covered claims during a specific policy period. In the event the total value of all covered claims reaches this amount, an insured would be responsible for losses above the “Aggregate” limit during the applicable policy period.
What are the advantages of aggregate?
The basics of aggregates
They provide the volume, strength, durability and workability for designers and contractors to efficiently and cost-effectively meet their design and construction goals. As such, natural aggregate is known as the most valuable non-fuel mineral commodity in the world.
The One Question To Haunt Everyone: What is a DDD Aggregate? - Thomas Ploch - DDD Europe 2022
What is the aggregate benefit?
Aggregate Benefit means the combined total Benefits available to a Member and his or her beneficiaries.
What are the 3 examples of aggregate?
Aggregate is a landscaping term that's used to describe coarse to medium grain material. The most common types of aggregate that are used in landscaping include: crushed stone, gravel, sand, and fill.
What is the aggregate benefit limit?
An aggregate limit is a maximum amount an insurer will reimburse a policyholder for all covered losses during a set time period, usually one year. Insurance policies typically set caps on both individual claims and the aggregate of claims.
What does aggregate mean in payments?
Payment aggregation is a processing arrangement when a large business (called the aggregator) is processing transactions on behalf of many smaller businesses belonging to its portfolio.
What is the purpose of aggregation in insurance?
Aggregation allows more than one loss covered by the same policy to be treated as a single loss when applying policy deductibles or limits.
What is maximum aggregate payout?
Aggregate payout limit means a maximum table payoff amount that will be paid to two or more patrons as the result of winning wagers on any single call of the lottery scheme or hand of play.
What does aggregate mean in insurance terms?
For various types of insurance, an aggregate limit is the maximum amount of money an insurer will pay for all your covered losses during the policy period, typically one year.
What is the aggregate limitation on pay?
Description. A limit under title 5, United States Code, on the total amount of allowances, differentials, bonuses, awards, or other similar payments an employee may receive in a calendar year, when combined with the employee's basic pay.
What is an aggregate payment?
Aggregate Payments means, with respect to a Contributing Guarantor as of any date of determination, the aggregate amount of all payments and distributions made on or before such date by such Contributing Guarantor in respect of this Guaranty Agreement (including, without limitation, in respect of this paragraph 2) and ...
What is the meaning of aggregate amount?
: the whole sum or amount : sum total.
What does per aggregate mean in insurance?
Per-occurrence limits define how much a policy will pay for any one incident or claim. Aggregate limits define how much a policy will pay over the policy's duration. (Most general liability policies have durations of 6 months or 1 year.)
What is the aggregate money?
It is the total amount of currency in circulation and demand deposits held by commercial banks. It doesn't include time deposits or other forms of deposits with commercial banks.
What is the monthly aggregate amount?
Monthly aggregate is the sum or average of all the data points over a month's time period. By breaking down the data points by month it is much easier for business teams to deduce insights and identify trends. This is particularly used in organizations with sales, marketing, financial, and shipping data.
What does aggregate salary mean?
Aggregate Base Salaries means the sum of all annual base salaries paid to the Eligible Employees during the Performance Period.
What is the aggregate rule?
What Is the Aggregation Rule? The aggregation rule plays a crucial role in managing tax treatment related to retirement savings. The Internal Revenue Service stipulates that all of your IRA accounts (except Roth accounts) are treated as a single entity for calculating conversion taxes or minimum distributions.
What is the aggregate limit for 401k?
401(k) contribution limits for 2025
The 401(k) contribution limit for 2025 is $23,500 for employee salary deferrals, and $70,000 for the combined employee and employer contributions. If you're age 50 to 59 or 64 or older, you're eligible for an additional $7,500 in catch-up contributions.
What is aggregate income?
Aggregate income is the total income of all businesses, people, and governments in an economy. It includes things such as wages, salaries, profits, interest payments, rents, dividends, and welfare payments. Aggregate income is used in economics to measure the total income of a country or region.
Who uses aggregate?
Aggregates have many uses in the construction industry. Public and private buildings Bridges Roads and highways Airports Seaports Waste disposal and treatment plants Fertilizers and glassware etc. 65-85% by weight of PCC is aggregate (fine and coarse combined).
What is an aggregate bank account?
Account aggregation refers to the process of collecting data from multiple financial accounts and compiling – or aggregating – them into a single place. You may already be familiar with account aggregation if you have more than one business account with a single bank.