Co-payment
Market basicsA fixed share of every claim the policyholder must bear.
In plain terms
Common on cheap and senior-citizen plans. A 20% co-pay on a ₹8 lakh bill is ₹1.6 lakh out of your pocket after the premium was paid.
1492 terms
Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
Showing 1 term
Read the full lesson →