Frequently asked questions
Plain-language answers to the questions people ask before buying health insurance in India.
What is a waiting period in health insurance?
A waiting period is the time you must stay covered before certain claims become payable. There is usually an initial waiting period for most illnesses, a longer one for pre-existing conditions, and specific waiting periods for named treatments. Claims made during an applicable waiting period are generally not paid, so it helps to buy cover well before you expect to need it.
What is the difference between an individual policy and a family floater?
An individual policy gives each person their own sum insured, while a family floater shares a single sum insured across everyone covered. A floater is usually cheaper for a young family, but one large claim can use up much of the cover for the rest. Families with older members sometimes prefer separate cover so a single illness does not drain the pool.
What does co-payment mean in a mediclaim policy?
Co-payment is the share of each approved claim that you agree to pay yourself, with the insurer paying the rest. A policy with co-pay often has a lower premium, but you carry part of every hospital bill. It is worth checking whether co-pay is fixed or applies only in certain cases, such as particular ages or cities.
How does a cashless hospital claim work?
In a cashless claim you are treated at a hospital in the insurer's network, and the insurer settles the approved amount directly with the hospital. You still pay for items the policy does not cover, and approval depends on the policy terms. For a hospital outside the network you usually pay first and then file for reimbursement.
Can I claim a tax benefit on my health insurance premium?
Premiums paid for health insurance can qualify for a deduction under Section 80D of the Income Tax Act, subject to the conditions in force. This benefit is available under the old tax regime rather than the default new regime. The amount depends on who is covered and other rules, so confirm the current limits before relying on it.