5 terms you must know before buying health insurance

Co-payment

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Co-payment is a clause in some health insurance plans where you have to pay a part of the bill yourself when you make a claim.

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Deductibles

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Deductibles refer to the initial amount that you must pay out of your own pocket before your insurance provider begins to cover medical expenses.

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Waiting period

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The waiting period is the duration in which specific ailments are not covered under health insurance policies.

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Free-look period

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A free-look period is a window to review your health insurance policy and return it if it doesn't meet your needs.

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No-claim bonus (NCB)

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Insurers give a cumulative bonus, also known as NCB, if you don't make any claims during the policy period.

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