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Deductibles and Copayments in Health Insurance Policies

WEB1. Lower Premiums: Policies with higher deductibles or co-payment percentages often have lower premium rates since policyholders bear a significant …

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Sub-limits & Various Types of Sub-limits in Health Insurance

WEBSub-limits in health insurance refer to predefined monetary caps or limits placed on specific medical services, treatments, or expenses within a health insurance …

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Difference- Health Insurance Rider & Health Insurance Add-on

WEBIn health insurance, an add-on cover, also known as an optional or supplementary cover, refers to an additional coverage option that can be purchased …

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Fixed Benefit vs. Indemnity Based Health Insurance

WEBOn the other hand, indemnity based insurance plans work differently from fixed-benefit policies. Instead of receiving a lump sum amount upon diagnosis, these …

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OPD Full Form in Medical: Definition and Explanation

WEBOPD stands for "Outpatient Department" and refers to the area of a hospital or clinic where patients receive medical care without being admitted as inpatients. In this …

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7 Principles of Insurance: Understanding the Basics

WEBThis means that the insured should be compensated for the actual value of the loss, rather than the full value of the insured item. Principle of Warranty. Doctrine of …

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What are the Benefits of OPD Coverage for Indian Employees

WEBHere are some of the key advantages of OPD coverage for employees in India: · Access to Preventive Care: OPD coverage often includes wellness check-ups …

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What all Diseases are Covered Under Health Insurance Plans

WEBAccidents and Injuries: Health insurance plans generally cover medical expenses related to accidental injuries, fractures, burns, and trauma.Emergency room …

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Group Health Insurance Benefits: All You Wanted to Know

WEBGroup health insurance has become increasingly important in India in recent years. With the rising medical costs and the need for quality healthcare, many …

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Choosing the Perfect Group Health Insurance Plan: 7 Key Factors …

WEBHere are seven key factors to consider: 1. Coverage and Benefits. The primary purpose of any health insurance plan is to provide financial coverage for …

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Claim Settlement Ratio of Insurance Companies

WEBThe CSR is calculated by dividing the total number of claims settled by the insurance company in each period by the total number of claims received during the …

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OPD Full Form: What Does OPD Stand for in Medical Terms

WEBCurrent Usage. OPDs are used by patients who require medical attention but do not need to be admitted to the hospital. Patients can visit an OPD for a wide range of …

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What is Nature & Characteristics of an Insurance Contract

WEBThese contracts guarantee compensation in the event of certain losses. You must understand the nature and characteristics of an insurance contract to manage the …

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What is the General Insurance Public Sector Association

WEBGIPSA, or General Insurance Public Sector Association, is a group of four general insurance provider organizations. New India Assurance Company Ltd, United …

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IPD Full Form in Medical: Definition and Explanation

WEBDefinition of IPD. IPD stands for In-Patient Department in the medical field. It is a department in a hospital where patients are admitted for further treatment and care. …

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What is D&O Insurance

WEBA Director and Officers (D&O) Insurance policy protects directors, board members, and other individuals in management and supervisory capacity from possible …

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Marine Insurance vs. Life Insurance: the Key Differences

WEBKey Differences. 1. Nature of Coverage. Marine insurance provides coverage for loss or damage to ships, cargo, and other marine-related properties. On …

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Floater vs. Non-Floater Policy: The Key Differences

WEBThis means that in a floater policy, the entire family can share the sum insured, while in a non-floater policy, each member has their own sum insured. …

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Workmen Compensation Act 1923: Understanding Key Provisions

WEBThe Workmen's Compensation Act of 1923 is a crucial piece of legislation that aims to provide financial assistance to employees who suffer from injuries or …

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