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Maximum Disability Income Policy Mdp

Maximum Disability Income Policy (MDP)

Definition

Maximum Disability Income Policy (MDP) — a form of long-term disability insurance policy that is non-cancelable by the insurance company but limits the insurer's liability for any one claim but not the aggregate amount of all claims. Under an MDP, there is a maximum amount payable for any one claim, but there is no limit on the number of separate claims for different disabilities.

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