FAQ

Q.
What is the Co-Payment feature in a health insurance plan?
Ans

Co-Payment simply means the policyholder agrees to pay a proportion of the total insurance claim that s/he makes. Co-pay can vary between 10% and 25%, depending on the plan and the insured's age. Naturally, the rest of the claim is paid by the insurer.

Example: Say Mr Kumar has a health insurance cover of Rs 5 lakhs with a 10% co-pay feature. During a medical emergency, Mr Kumar files a claim of Rs 4 lakhs. In this case, Mr Kumar will pay Rs 40,000 as co-payment, while the remaining Rs 3,60,000 will be paid by the insurer.

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