Health insurance

MEDICAL,USA: 1. Contract between the policyholder and/or member and insurance carrier or government program to reimburse the policyholder and/or member for all or a portion of the cost of medically necessary medical care rendered by health care professionals. 2. General category generic term that includes many types of insurance coverage such as insurance that applies to lost income arising from illness or injury—disability income insurance, accident and health insurance, hospital confinement insurance, hospital expense insurance, surgical expense insurance, major medical insurance, dental expense insurance, accidental death and dismemberment insurance, and medical expense insurance. Insurance may be obtained on either an individual or a group basis. Also referred to as medical insurance .
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A policy that will pay specifies sums for medical expenses or treatments. Health policies can offer many options and vary in their approaches to coverage.
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Health Insurance is a way to distribute the financial risk associated with the variation of individual’s health care expenditures by pooling costs over time (Pre-payment) and over people (pooling). (OECD 2004). The Health Insurance Insurer undertake to indemnify an individual against expenses incurred due to any variation in their health. It collects an upfront contribution from an individual (commonly known as premium) and pools it over many people.
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Protection against the costs of lost income and hospital and medical care arising from illness or injury, also accidental loss of life, limb, or sight. Also called accident and sickness, accident and health, sickness and accident, or disability insurance.
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Section 2(f) of the IRDA Registration of Indian Insurance Companies Regulations 2000 defines health insurance business or health cover as “the effecting of contracts which provide sickness benefits to medical, surgical or hospital expenses benefits whether in-patient or out-patient, on an indemnity, reimbursement, service, prepaid, hospital or other plans basis, including assured benefits and long term care.

Health Insurance Cancer Medical Expenses Policy (Indian Cancer Society)

Cover through New India Assurance Co to the members of the Indian Cancer Society for anybody who may be stricken by this malignant disease. Cover is available only to members provided at the time of seeking the membership the person concerned should not be a cancer patient or a potential cancer case. The policy coverage is Rs. 50,000/- + 5% cumulative bonus for each claim free year. Additional sum insured up to Rs. 75,000 for every claim free renewal an amount normally incurred by an individual or his family to fight cancer. Policy covers both the member and spouse; however, if one is caught with the cancer the other will not be available for any benefits. Corporate membership is also available. Policy on payment of additional premium can be extended to cover two dependent children with indemnity limit of Rs. 50,000 each child and claim by one insured child does not affect liability under the policy in respect of another child.