insurance

What is an extension of benefits?

 

What is an extension of benefits?

The Bankrate.com financial term of the day is: "extension of benefits."

Let's say you have an injury or a disability that requires more treatment, but you have a health insurance policy that's expiring. If your plan allows for an "extension of benefits," there's no need to worry. This provision in some policies allows your coverage to continue beyond the cutoff for an ongoing medical situation.

When your health insurance is ending but a specific need for coverage is not, an extension of benefits can help.

To shop for insurance to fit your family's needs, visit the Insurance section at Bankrate.com.

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