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Glossary > E > "Escalation" Definition

Escalation

Refers to the increase in benefit (usually annual) payable during the payment term of an insurance claim that is not settled via a lump sum payment. For example, claims under an Income Protection Policy might escalate annually in line with the Retail Price Index.

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Escalation - Refers to the increase in benefit (usually annual) payable during the payment term of an insurance claim that is not settled via a lump sum payment. For example, claims under an Income Protection Policy might escalate annually in line with the Retail Price Index.

Escalation : refers to the increase in benefit (usually annual) payable during the payment term of an insurance claim that is not settled via a lump sum payment. for example, claims under an income protection policy might escalate annually in line with the retail price index.