Individual Annual Aggregate Vs. Shared Annual Aggregate

Don't Get Left Out.

Avoid insurance programs with shared limits.

Much like the game of musical chairs, an insured member with a shared policy, you may find yourself with no seat when the music drops-with no insurance coverage when the money available to pay for claims run out.

Don't Get Left Out.

Avoid insurance programs with shared limits.

Trying to figure out the right policy for you may seem intimidating, but we’re here to help! It is important to understand your policy and know exactly when your insurance policy is going to cover you in the event of a lawsuit.

Every insurance policy will offer individual limits, however, some policies also have a group shared policy aggregate limit, which some companies will fail to mention.

Individual Limits: Your policy will protect you up to the amount listed on your policy. Every insured person will have their own coverage, and the claims that others make will not affect their individual coverage amount available.

Shared Limits: Each individual policy holder may not have the coverage that they need at a specific time. When the group shared limit is reached for the policy year, anyone who files a claim afterwards will not be covered under their individual limits.

Every insurance policy will offer individual limits, however, some policies also have a group shared policy aggregate limit, which some companies will fail to mention.

Individual annual aggregate comparison chart

Get Individual Annual Aggregate with MMIP!

Get Covered

Get Individual Annual Aggregate with MMIP!

Get Covered

My appointment was going well when I heard my client slip and fall in the bathroom during my service. She twisted her ankle. I did not realize that I was being held responsible for this. I had to pay for her medical bills and pain and suffering. I was happy to find out that my policy with Insurance Plus covered it.

Elizabeth C.
Tempe, AZ

Individual Annual Aggregate Vs. Shared Annual Aggregate

Don't Get Left Out.

Avoid insurance programs with shared limits.

Much like the game of musical chairs, an insured member with a shared policy, you may find yourself with no seat when the music stops-with no insurance coverage when the money available to pay for claims runs out.

Every insurance policy will offer individual limits, however, some policies also have a group shared policy aggregate limit, which some companies will fail to mention.

Get Individual
Annual Aggregate
with MMIP!

GET COVERAGE

Additional Information

Individual Annual Aggregate Limits

When you secure coverage through a company that provides individual limits, your policy will protect you up to the amount listed on your distinct policy. Every insured person will have his or her own coverage, and the claims that others make will not affect the individual coverage amount available.

As a wellness professional, you deserve the peace of mind that comes with having coverage you know is there for you—and you alone—in the event of an unpredictable lawsuit.

Example: Your policy has an individual limit of $2 million per claim and $3 million annual. This means you’ll be covered up to $2 million per occurrence and $3 million in total claims for the policy year. Any other insured member’s claims will have no effect on your individual amount of coverage.

Get Individual Annual Aggregate with MMIP!

Get Covered

Shared Annual Aggregate Limits

Unfortunately, if a policy has a shared limit, it means the individual policyholder may NOT have the coverage they need when they need it. When the shared limit is reached for the policy year, anyone who files a subsequent claim will not be covered under their individual limits because of their shared-limit policy.

If you end up with an insurance program that has a master policy, also known as a nullshared-limit policy, everyone insured by the company is subject to the master/shared limit of the policy—all insured individuals share one master limit of coverage available in a policy year.

As insurance claims are paid out during the policy year, those claims count against the total shared limit for each member. When the master policy limit is reached, no matter how early or late it may be during the policy year, there is no remaining coverage available for the rest of the policy year.

Example: If the shared limit on a policy is $10 million, then the company can only pay out $10 million in claims during the policy year. If a few insured members file claims early in the policy year that cost the company $10 million, all later claims will not be covered. Even if this same policy includes a $2 million limit for the individual, the individual limit will not apply once the shared limit is reached.

*For customers in the state of Indiana professional liability limits are increased to $2 million per occurrence and $6 million individual annual aggregate for massage therapy services only; General liability limits are increased to $2 million per occurrence and $8 million individual annual aggregate for massage therapy services only.