What is health insurance?
Health insurance can cover eligible healthcare expenses or provide defined benefits, depending on the policy. The exact coverage, limits, exclusions and claim rules are set out in the policy wording.
Key terms to understand
Sum insured
The maximum coverage amount or defined benefit available under the policy, subject to its terms and limits.
Waiting period
Some treatments or conditions may have waiting periods before coverage applies. Always check the specific policy.
Exclusions
Exclusions identify situations, treatments or expenses that are not covered. Read these carefully before purchase.
Cashless and reimbursement
Depending on the insurer and facility, claims may follow a cashless process or a reimbursement process. The insurer's current network and claim rules apply.
How to compare a health policy
- Coverage and sum insured
- Waiting periods and exclusions
- Room-rent or other applicable limits
- Network hospitals and claim process
- Renewal terms and premium structure
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