Protect What Matters Most

Life insurance primarily provides financial protection against specified life-related events, while health insurance generally provides coverage for eligible medical and hospitalisation expenses, subject to the policy terms.

The required cover depends on factors such as income, existing liabilities, family responsibilities, financial goals, assets and future expenses. There is no single cover amount suitable for everyone.

Health insurance provides coverage for eligible healthcare expenses according to the policy terms. Depending on the policy, claims may be settled through cashless treatment at network hospitals or reimbursement, subject to applicable conditions.

A premium is the amount paid by the policyholder to maintain insurance coverage. Premiums can depend on factors such as age, coverage amount, policy type, risk profile, location and applicable underwriting factors.

Sum insured generally refers to the maximum coverage available under certain insurance policies, particularly health insurance. Sum assured is commonly used in life insurance to refer to the specified benefit payable under the policy, subject to its terms.

A deductible is an amount the policyholder may have to bear before the insurer pays eligible expenses. Co-pay means the policyholder bears a specified percentage or portion of eligible expenses. A waiting period is a specified period during which certain claims or conditions may not be covered.

Under a cashless facility, eligible treatment expenses can be settled directly between the insurer/TPA and a network hospital, subject to policy terms, approvals and coverage limits.

Not making a claim does not generally mean that the premium is refunded. However, certain policies may provide benefits such as no-claim bonuses or other policy-specific benefits, depending on their terms.

Policies can generally be renewed subject to their terms and conditions. Depending on the type of insurance, policyholders may also have options such as portability, migration or policy modifications, subject to applicable rules.

Consider the coverage, exclusions, waiting periods, claim process, premium, deductibles/co-pay, network hospitals or service providers, policy limits and renewal terms before purchasing an insurance policy.

AssetVeda can help you understand your insurance requirements, compare suitable policy options and evaluate coverage, premiums, exclusions and other important policy terms before making an informed decision.