Important Points for IC 27 - Health Insurance Exam
Page 13 Of 27
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Hospitalisation indemnity plans typically reimburse the hospital costs and specialist fees.
Cost sharing provisions such as sub-limits, co-payments and deductibles are introduced by insurance companies to reduce moral hazard and to lower overall costs for the insurer.
A critical illness policy eases the financial pressure of an individual by providing a lump sum payment and is available both as stand-alone products and as a rider to life insurance policy.
Disability benefit plans, also known as income protection plans protects and covers the loss of income when the insured is unable to pursue his occupation due to injury or illness.
Group insurance reduces adverse selection and offers the customer the advantage of collective bargaining power with respect to the features of the product, premium discounts etc.
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