What does maximum aggregate payout mean?
Asked by: Prof. Micheal Deckow IV | Last update: January 30, 2025Score: 4.9/5 (18 votes)
What is 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 is maximum aggregate insurance?
Your aggregate insurance limit is the maximum amount of money your insurance company will pay to cover all of your claims in a given time period. Your per occurrence limit is the highest amount of money insurance will pay to cover a single claim.
What is maximum aggregate amount payable?
Key Takeaways. An aggregate limit caps the total amount that an insurer will pay a policyholder for a set time period. Insurance policies often place limits on both the size of individual claims and the aggregate claims reimbursed.
What does maximum payout mean insurance?
A limit is the highest amount your insurer will pay for a claim that your insurance policy covers. Think of it this way: It's like filling up a fishbowl. If you file a covered claim, your insurance policy will pay up to a certain amount. You're responsible for any expenses that exceed the limit.
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What does aggregate limit mean?
The aggregate limit of liability is the maximum total amount your insurer will pay out for all such claims over the course of your policy term. It is a cumulative total, combining the sum of all payouts for all individual claims. Think of it as the ceiling on coverage you can get over the duration of your policy term.
What is maximum payout?
Maximum Payout is the maximum amount of money the insurance company will give you.
What is maximum aggregate?
Distinct from a per-claim limit, which states the amount an insurer will pay for each individual claim made during the policy period, the aggregate limit is the maximum amount an insurer will pay for all such claims made against the insured during the policy period, no matter how many separate claims might be made.
What does aggregate amount mean in insurance?
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 does aggregate amount paid mean?
The aggregate amount is the total amount paid for the shares to the company – i.e. nominal amount + share premium.
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 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 max aggregate limit?
The general aggregate is the maximum amount of money a liability insurance policy will pay in a given policy term. Unlike a per-occurrence limit, which limits the amount per claim, a general aggregate limit can be exhausted through either two claims, fifty claims, or anywhere in between.
What does aggregate pay mean?
Definition: Aggregate income is the total amount of money earned by a person or group of people. It includes all sources of income, such as wages, salaries, tips, and investment earnings. Basically, it's the sum of all the money you make.
What is an aggregated payment?
Merchant aggregation also known as payment aggregation, is a business model where a third-party payment provider signs up merchants directly under its own merchant identification number (MID) to process transactions through a single master account.
What is the aggregate settlement rule?
(a) A lawyer who represents two or more clients shall not enter into an aggregate settlement of the claims of or against the clients, or in a criminal case an aggregate agreement as to guilty or nolo contendere pleas, unless each client gives informed written consent.
What is aggregate payouts?
As used within this regulation, “aggregate payout limit” means a maximum payoff amount that will be paid by a licensee to two or more patrons as the result of winning wagers resulting from any single call of the game or hand of play.
What is the aggregate in insurance?
The aggregate is the total amount payable for all events resulting in a claim for any period of insurance. For example if the annual aggregate is $20,000,000 and there are two claims made for $10,000,000 each - the annual aggregate will be exhausted and further claims will be required to be paid by the insured.
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 does aggregate maximum mean?
An aggregate limit is the maximum amount an insurer is willing to pay for covered losses during a defined period, typically one year.
What is maximum aggregation?
edit. A single-value metrics aggregation that keeps track and returns the maximum value among the numeric values extracted from the aggregated documents. The min and max aggregation operate on the double representation of the data.
What does "mean aggregate" mean?
aggregate noun [C or U] (TOTAL)
something formed by adding together several amounts or things: aggregate of They purchased an aggregate of 3,000 shares in the company.
What is max annual payout insurance?
Your maximum annual payout (also known as an annual coverage limit in insurance-speak) is the highest dollar amount you can be reimbursed for each year.
What is a good payout?
Determining a “good” dividend payout ratio depends on factors such as the industry, the company's growth stage and an investor's financial goals. For most companies, a ratio between 30% and 50% is considered optimal.
What does a 100% payout mean?
It means the company pays its shareholders all the profit it earned in that years, after tax etc. Whereas with a more typical 70% payout, it keeps 30% to fund future work, reduce borrowings, or whatever.