What does no claim bonus mean? Insurance policies, be it health or motor insurance offer a no-claim bonus at the time of renewal of insurance policy for the subsequent year if no claim had been made in the current year. Most of us are aware of the concept of no-claim bonus in motor insurance, in […]
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What is Restore Benefit in Health Insurance? Definition of Restore Benefit Restore benefit can be defined as the benefit under which the Sum Insured for the health insurance policy gets restored or reinstated after a claim. In simple words, even if Sum Insured under the health insurance policy gets exhausted in a claim, the insured
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What does reasonable and customary charge in health insurance mean? Reasonable and customary charges in health insurance mean that the cost of treatment take by the insured should be within the reasonable limit. The reasonable limit is determined by the geographical area the hospital is in and the standard charges other hospitals with similar facilities
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Cashless Hospital – What does it mean? Cashless hospital means hospitals which are part of network hospitals of health insurance companies wherein the cost of the treatment is paid directly to the hospital. The insured does not need to pay cash to hospital for getting treatment in these hospitals. Why is Cashless hospital network important?
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What does room rent in health insurance policy mean? In health insurance policies, room rent means amount charged by hospital towards room and boarding expenses including nursing and other associated medical expenses. In simple terms, room rent is the amount charged by the hospital for per day stay at the hospital. Why is room rent
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