A policy that provides coverage for inpatient hospital stays and expenses incurred during the stay; for example, X-rays and blood work. Coverage may also be provided for emergency care and surgical costs.

These products protect the individual from the expenditure they may need to incur in the event of hospitalization. In most of the cases, it also covers a specific number of days before and after hospitalization, but excludes any expenses not involving hospitalization. Cover is on an indemnity basis i.e., by making good part or all of the losses incurred or amount spent during hospitalization. It covers the hospitalization expenses for an individual up to the sum insured.

Many products differ according to the various cost sharing mechanisms used by the like sub-limits on room and ICU charges, sub-limits on payments made for specific surgeries like cataract or hysterectomy, co-payment for using non-network hospitals or even for network hospitals etc. These techniques are also being provided in insurance policies as mechanisms to contain costs for the insurer and to provide for higher spending being shared by the insured.

The persons who are either covered by their employers or are already holding a hospitalization policy but with low sum insured have a new option – to opt for a high deductible cover for individuals and families. These are top-up covers which provide coverage beyond the deductible amount chosen at the proposal stage. Deductible ranges from Rs.1 lac to Rs.5 lacs and the coverage of this product starts only after the out-of-pocket expenses or any existing insurance cover has reached this selected deductible amount. Higher the deductible lower the premium.

Insurance that covers specific expenses incurred during a hospital stay caused by injury or illness. Only expenses falling under a certain limit, specified in the contract, are covered.

A fire that occurs outside of its normal confines. Contrast to Friendly Fire.