These refer to the maximum amount an insurer will pay for a single claim or incident. Generally a limit of $1,000,000/$3,000,000 means $1,000,000 per covered claim with $3,000,000 aggregate in a policy year, subject to the terms of the contract. The annual aggregate limit is the maximum amount of coverage an insurance policy provides over a policy year. What does per claim limit mean? This includes checking, savings, money market deposit accounts, trust accounts and certificate of deposits. In many cases . Aggregate Monthly Payment means, with respect . This cost is especially important for companies to know when planning projects or deciding to launch a new product or service. Aggregate Limit: An aggregate limit is a contract provision used in insurance to limit the amount that can be paid in the policy period. Aggregate Investment means the total amount of all equity securities of the Company held by the Investors, directly and indirectly (taking into account any adjustment as a result of any stock dividend, split, reverse split, combination, recapitalization, liquidation, reclassification, merger, consolidation or otherwise. AAR observed that as per the definition of "Aggregate Turnover", in terms of Section 2 (6) of the CGST Act, 2017, "aggregate turnover" means the aggregate value of taxable supplies, exempt supplies, exports of goods or services or both under inter-state supplies of persons having the same permanent account number, to . taking all units as a whole. Based on 6 documents. The policy limit consists of 2 numbers, a "per claim" limit and an "annual aggregate" limit. Gross simply means the entire amount of something, in this case weight. What does an aggregate amount mean? A general aggregate limit is the maximum limit of insurance payable during any given annual policy period for all losses other than those arising from specified exposures. Aggregate (1) A limit in an insurance policy stipulating the most it will pay for all covered losses sustained during a specified period of time, usually a year. The aggregate amount applies to undergraduate and graduate studies, continuing education programs and other educational opportunities along the way. As an adjective, the word aggregate describes a combination of disparate parts. 3. If a provider had a malpractice insurance policy with $1,000,000/$3,000,000 limits, he/she would have a $1,000,000 limit per claim and a $3,000,000 aggregate limit for the year. What does in the aggregate mean insurance? The rate of growth of GNP will depend upon the rate of growth of aggregate demand. That refers to the maximum amount of money the . Aggregate definition, formed by the conjunction or collection of particulars into a whole mass or sum; total; combined: the aggregate amount of indebtedness. composed of mineral crystals of one or more kinds or of mineral rock fragments. What is the difference between GVM and GTM? definition. The aggregate insurance definition is the highest amount of money the insurer will pay for all of your losses during a policy periodthis period typically lasts for one year. Aggregate stop loss provides employers with a ceiling on the dollar amount of any eligible expenses that the employer would ordinarily pay during a contract period, thus providing protection for the entire group's population. Find Insurance Markets; Find A Company; Search Blogs; Search Users . Times, Sunday Times In addition, the circular provides for a three-tier set of documentation and reporting standards, based on the aggregate amount of intercompany transactions. An aggregate amount or score is made up of several smaller amounts or scores added together. The aggregate loan limit is the cumulative lifetime amount a student is allowed to borrow in Department of Education loans. Student loan limits vary depending on the type of loan, the student's degree level, year in school and dependency status, the college's cost of attendance, other aid received by the student and the loan program. If someone falls down the stairs at your office and sues, the policy will pay for legal fees and damages up to the half-million limit. formed from several separate ovaries of a single flower. For instance, typically a dependent student can only borrow up to $31,000 of which of which no more than $23,000 of this amount may be in subsidized loans. The first limit you have to deal with is the limit on per-incident payouts. Aggregate limits determine the amount that can be paid out during the entirety of a . Aggregate limits are commonly included in liability policies. The retention can be stated as a flat dollar amount (often calculated as a percentage of expected losses), as a percentage of standard premium, or in terms of a specific loss ratio. This term is also used in botany to refer to a flower or fruit made of florets in a dense cluster. Aggregate limits are distinct from per-occurrence (or per-claim) limits. The aggregate limit is usually double the occurrence limit. More Synonyms of aggregate. Aggregate Monthly Payment means, for each month, the total amount of Annuity Payments payable in respect of all Covered Lives (and, if applicable, Contingent Lives and Beneficiaries) for such month, subject to adjustment as provided in this Contract. gross weight Aggregate weight means the gross weight of an exhibit of evidence, not including any packaging." What does gross weight stand for? As a noun, the word aggregate means a sum total amount, often a combination or assemblage of separate parts. Total aggregate value of shares issued 100 This is the total value of the shares issued in this currency (Number of shares multiplied by their nominal value) Total aggregate amount unpaid: ? What does aggregate mean in investing? So in the example above, if you have a $1,000,000 per . What does aggregate coverage mean? On certain types of insurance coverage, an aggregate limit is put in place. It works differently than the more common embedded deductibles used in non-HDHP health insurance. Aggregate Insurance Coverage. Aggregate Excess Insurance provides coverage once the total claims for an annual period exceed a predetermined retention amount. The total figure also includes the multiple account numbers. If the report includes items in the aggregate valued under fifty dollars ($50) each, the attorney general may not require the holder to provide . Dictionary entry overview: What does aggregate mean? Before the closing of the loan, the mortgage lender will calculate the maximum allowed property tax and homeowner's . As a verb, to aggregate means to collect or bring together . What does aggregate amount mean? Information and translations of aggregate amount in the most comprehensive dictionary definitions resource on the web. This means that, in this example, individual claims have a limit of $1,000,000 each, while the total policy coverage for all claims made . What does aggregate loan amount mean? Fellas, been wondering what "in aggregate" means when referring to fishing regs. 2. On a general liability policy, the general aggregate is the highest amount that will be paid out in a policy period no matter how many claims. Per aggregate limit. An aggregate is part of how a policy limit is reflected in the contract. What does aggregate weight mean? As a result of using the same calculation techniques, changes in aggregate demand and GDP are coordinated. What Does Aggregate Amount Mean will sometimes glitch and take you a long time to try different solutions. Common aggregate functions include : Average() (i.e., arithmetic mean) Count() 10 - possession, in aggregate Closed March 1 - June 15. 2. material such as sand or gravel used with cement and water to make concrete, mortar, or plaster. Synonyms: collective, added, mixed, combined More Synonyms of aggregate. The aggregate limit is the maximum amount an insurer will pay for covered losses during a policy period. Mar 23, 2005. An aggregate adjustment is what a lender uses to calculate to ensure that they are not collecting more than the amount limit mentioned in the Real Estate Settlement Procedures Act ( RESPA) in the borrower's escrow account. Deposit Aggregate. What does aggregate excess mean? Aggregate definition: An aggregate amount or score is made up of several smaller amounts or scores added. Aggregate cost is a term used to describe the total amount of money a particular project or proposal will cost a company. About Us; Membership; Consumers; Contact Us; Manage Your Subscriptions. Composed of a mixture of minerals separable by mechanical means. Login . . Constituting or amounting to a whole; total: aggregate sales in that market. Aggregate Amount means the aggregate amount by which the resolution authority has assessed that eligible liabilities must be written down or converted, in accordance with Article 41 (1); Aggregate Amount shall have the meaning assigned to it in the recitals. Sample 1 Sample 2 Sample 3. Aggregate Loan Limit is the cumulative amount of how much a person can borrow through a loan program. Aggregate demand is the desire or demand for those products, whereas GDP is the total amount of goods and services produced in an economy. Such as the reg taken from the DNR website as shown below: Bass, Largemouth and Smallmouth 12 inches or as provided for by special regulations 5 - daily. What is an aggregate amount in insurance? Under some commercial general liability (CGL) policies, the general aggregate limit applies to all covered bodily injury (BI) and property damage (PD) (except for injury or . Let's look at how they work, as well as some rule changes that were implemented to protect consumers in plans . . As adjectives the difference between aggregate and total is that aggregate is formed by a collection of particulars into a whole mass or sum . Once covered expenses reach the annual aggregate, the policy stops paying out benefits, even if subsequent legitimate claims are filed. 1. Aggregate Payments means the payment in full, in cash, of the Merger Consideration and all other amounts to be paid in connection therewith by Parent or Merger Sub, or the Company, the Surviving Corporation or their Subsidiaries, including the repayment of Company Debt, the payment. AGGREGATE (noun) The noun AGGREGATE has 3 senses: 1. the whole amount. The formula is used to calculate the amount that allows a two-month cushion . The annual aggregate limit is the total amount an insurer will pay in a given single year. Botany Crowded or massed into a dense cluster. oftentimes hospitals and 3rd party credentialing organizations will . What does aggregate mean in insurance? | Meaning, pronunciation, translations and examples clustered in a dense mass or head. For personal and business accounts the banking deposit aggregate is the total combined deposits, otherwise known as the current balance, for all deposit accounts. Too many in one year, and you'll run up against the aggregate limit of liability. What is General Aggregate limit? Find A Market. Health insurance plans often carry aggregate limits. In database management an aggregate function is a function where the values of multiple rows are grouped together to form a single value of more significant meaning or measurement such as a set, a bag or a list. 3. a sum total of many heterogenous things taken together Familiarity information: AGGREGATE used as a noun is uncommon. Observation/Ruling. gate ( g r -g t) adj. For example, you may . Your general liability policy may have a flat $500,000 limit on individual claims. Direct Loans have established aggregate loan limits. General aggregate in insurance is the total amount that you can claim from your insurance company within the period of the policy, which is usually one year. An aggregate deductible refers to the system most high-deductible health plans (HDHPs) have traditionally used for family deductibles. The aggregate limit of liability is spelled . Aggregate Amount means the total dollar amount during a fiscal year of . The aggregate loan limit includes any unpaid balances on Department of . It is found in a wide variety of insurance types, such as auto, health, and property. 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. There are several other types of aggregates used both in business and the economy, including . As nouns the difference between aggregate and total is that aggregate is a mass, assemblage, or sum of particulars; something consisting of elements but considered as a whole while total is an amount obtained by the addition of smaller amounts. For example if the company does 10 projects per year, the policy limit per project would be $2,000,000 and the aggregate coverage would be $20,000,000 across all of the projects put together. Annual and aggregate loan limits specify the maximum amount that may be borrowed from a student loan program per year and in total. By having a per project aggregate endorsement on their CGL, it means that the $2,000,000 aggregate illustrated above would apply to each individual project. Aggregate Amount: 50* According to Indiana Statute IC 32-34-1.5-19 (b): "A report required under section 18 of this chapter may include in the aggregate items valued under fifty dollars ($50) each. Technically, aggregate demand only matches GDP over the long run if the price level is considered. An aggregate limit is the maximum dollar amount your . LoginAsk is here to help you access What Does Aggregate Amount Mean quickly and handle each specific case you encounter. Furthermore, you can find the "Troubleshooting Login Issues" section which can answer your unresolved problems and . If unfortunately, you have multiple large claims in one given year, the aggregate limit will be there to help protect you. The aggregate limit is the total amount the insurer will pay in any one policy term. The mortgage aggregate adjustment determines the initial deposit that must be placed in the escrow account at closing. Any help on the Total aggregate amount unpaid much appreciated Many . See more. This is the total value left to be paid to the company for the shares in this currency. Home. The maximum amount of money your insurer will pay for all the claims you file during the policy period, typically one year, is known as your aggregate limit. However, other general liability coverage policies will have something along the lines of a $1,000,000 per occurrence limit and a $2,000,000 general aggregate limit (excluding products-completed operations). The aggregate helps the insurance company create an incentive for its policyholders to avoid lawsuits. Meaning of aggregate amount. aggregate: [adjective] formed by the collection of units or particles into a body, mass, or amount : collective: such as. The employer is typically reimbursed by the carrier at the end of the contract period for any aggregate claims. The aggregate amount paid out by the leading blue chips has also risen a good deal faster than the index - with or without the dividend income. Aggregate Limit Of Liability: The aggregate limit of liability is the most an insurer is obligated to pay to an insured party during a specified period.