Important Points for IC 27 - Health Insurance Exam
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Indemnity health insurance: The insurance cover pays for the actual cost of the health episode. In India, this product line is generically given the name of "Medi-claim"- usually these covers have an average sum insured of Rs.100,000 and they cover the cost of hospitalisation episodes only.
Critical Illness insurance: It covers not only the cost of the ailment or disease but also the loss of earnings associated with the same. The number of ailments/surgeries and disease covered are smaller in number.
Fixed benefit covers: These are similar to indemnity health insurance in that, they cover inpatient hospitalisations. However, they pay a fixed amount-usually per day of hospitalisation as well as a fixed amount for each category of surgery that the patient undergoes.
Social reinsurance is a varient of white-labelling in the context of rural insurance. Here NGOs play the role of the distributor and "outsource" the design and administration of the entire insurance product to an insurance company who effectively acts a reinsurer.
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