What is ANNUALAGGREGATE LIMIT?

The maximum amount that an INSURANCE contract will pay in settlements to an INSURED over a 12month period, regardless of the number of CLAIMS submitted.

More On This Topic
  1. Marijuana: Recreational, Grow, & Medical Laws By State 2020
  2. Structured Settlements Under the U.S. Tax Code
  3. What Does Auto Liability Insurance Cover?
  4. What Are the Different Types of Insurance?
  5. When Should a Personal Injury Plaintiff Decline a Structured Settlement?
  6. Breach Of Contract: What It Is, Types, Examples, & Resolving Them
  7. What Is Common Law?
  8. Can You Borrow Against a Term Life Insurance Policy?
  9. What Can You Do About Lost Wages?
  10. Best Way To Write A Lease-To-Own Contract

Related Legal Terms
LINE LIMIT, OCCURRENCE LIMIT, BLOCK LIMIT, OVERDRAFT LIMIT, RECOMMENDED EXPOSURE LIMIT (REL), LIMIT MOVE, VARIABLE LIMIT, TIME LIMIT ON CERTAIN DEFENSES, BASIC COVERAGE LIMIT, OUT OF POCKET LIMIT


Link to This Definition
Did you find this definition of ANNUALAGGREGATE LIMIT helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary