Two policies with the same sum insured can pay very different amounts for the same hospital stay. The difference is in the terms below.
Terms to check#
- Sum insured: the most the policy pays in a policy year.
- Room rent limit: a cap on the room category; choosing a costlier room can reduce what is paid for other charges too.
- Waiting periods: time before pre-existing conditions and some specific treatments are covered.
- Co-payment: the share of every claim you pay yourself.
- Network hospitals: where you can get cashless treatment.
- Restoration and no-claim bonus: how the cover is refilled or increased.
Waiting periods and other limits are set by each insurer within IRDAI rules, and the rules change from time to time. Compare the policy wording, not just the brochure.