Definitions for "Lifetime maximum benefit"
Keywords:  maximum, benefit, dollar, pool, incurs
Under major medical policies, the maximum dollar benefit that each insured and each insured dependent is entitled to receive for the aggregate of expenses incurred for all diseases or injuries suffered during his or her lifetime. Also known as aggregate amount.
The lifetime maximum amount is the amount the plan will pay in benefits for each covered person in a lifetime.
this is the maximum amount of benefits that your insurance coverage could pay. The maximum lifetime benefit can also be referred to as a "pool of money". Your maximum lifetime benefit is calculated by multiplying your daily maximum benefit amount times the number of days in the benefit period you selected.