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A benefit provided to an insured for each claim-free year. The overall amount of these benefits will not exceed a certain percentage as specified in the policy.

An exclusive benefit policy that covers serious, possibly terminal disease that is strictly defined by the insurer. Conditions such as cancer, multiple sclerosis, major organ transplants are deemed as “Critical Illness”.

The maximum amount payable in the event of a claim.

A claim is a request for payment for services and benefits an insured received.

A claim made by an insured without paying any cash upfront. The insurer or its Third Party Administrator has tie-ups with network of hospitals and nursing homes called a “network hospital” across the country. The insured can get himself admitted in these specified network hospitals and receive treatment for the disease contracted without any cash [...]

An insurance professional who represents a client, unlike an insurance agent who represents the insurance company. Broker markets and explains insurance products to the prospective clients.

The person(s) or entity(ies) (e.g. corporation, trust, etc.) named in the policy as the recipient of insurance proceeds upon the death of the insured.

A licensed salesperson who represents one or more health insurance companies, solicits, negotiates or effects contracts of insurance and provides service to the policyholder for the insurer.

Stipulated minimum and maximum ages below and above which an insurance company will not accept applications or may not renew policies.