← Health Insurance Basics · Lesson 2 of 3
Words you must understand
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- Sum insured: the maximum the policy pays in a year.
- Waiting period: time before some illnesses are covered, for example 30 days initially and 2–3 years for pre-existing diseases (varies by policy).
- Room rent limit: some policies limit the room category; a costlier room can reduce the whole claim proportionately.
- Co-pay: a share of the bill you pay yourself, common in senior citizen plans.
- Network hospital: a hospital where cashless treatment is available.
Always read the policy wording for exclusions.
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