Important Points for IC 27 - Health Insurance Exam
Page 14 Of 27
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The common clauses which are found generally in all health insurance contracts are 24 hours hospitalisation, limits of usage, indemnity, cashless facility, deductible, co-payment, waiting period, pre-existing illness, exclusions, cancellation and renewability.
Cancellation clause: This clause only be invoked by the insurer for reasons of fraud, moral hazard, misrepresentation or non-cooperation of the insured.
The waiting period does not usually apply to accidental injuries, or to renewals of policies.
IRDAI has also stipulated that a grace period of 30 days from the date of renewal should be provided with continuity in benefits.
A data warehouse is a repository of an organisations electronically stored data, designed to facilitate reporting and analysis.
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