Grace period means the specified period of time immediately following the premium due date during which a payment can be made to renew or continue a policy in force without loss of continuity benefits such as waiting periods and coverage of pre-existing diseases. A deductible does not reduce the sum insured. Treatment normally taken on an outpatient basis is not included in the scope of this definition.ĭeductible is a cost sharing requirement under a Health Insurance Policy that provides that the Insurer will not be liable for a specified rupee amount in case of Indemnity policies and for a specified number of days/hours in case of hospital cash policies which will apply before any benefits are payable by the insurer. Which would have otherwise required a hospitalisation of more than 24 hours. Undertaken under General or Local Anaesthesia in a hospital/day care centre in less than 24 hours because of technological advancement and In case of change in Sum Insured during such uninterrupted coverage, the lowest Sum Insured would be reckoned for determining Continuous Coverage.ĭay care treatment - Day Care treatment means the medical treatment and/or surgical procedure which is – Cashless facility means a facility extended by the insurer to the insured where the payment, of the costs of treatment undergone by the insured in accordance with the policy terms and conditions, are directly made to the network provider by the insurer to the extent pre-authorisation approved.Ĭontinuous coverage means uninterrupted coverage of the insured person under our Individual Health Insurance Policies or Family Floater Policy from the time the coverage incepted under the policy provided a break in the insurance period not exceeding thirty days being grace period shall not be reckoned as an interruption in coverage for the purposes of this Clause.
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