Health Insurance

“When a group of people pay a small amount to contribute the health expense incurred for any person is called as health insurance”

    Knowledge Wheel


    Third party administrator is the organisation monitored by IRDAI they process claims from the policyholder.


    Exclusion are medial conditions which are not covered for the policyholder under the insurance medical claim policy.


    Claim is the amount payable by the health insurance company for the medical expenses incurred by the policy taker.

    Waiting Period

    Waiting period is the months the insurance agency requests the policyholder to wait to insure certain benefits.

    Network Hospitals

    Network hospitals are the list of hospitals where the policyholder can admit and incur less charges compared to others.


    Premium is the fee the policyholder has to pay regularly for the health insurance plan monthly, annually or semi-annually.
    CAFS Health

    Health Insurance

    Health Insurance offers coverage to the policyholder for medical expenses. It saves the policyholder in case of any health emergency.

    The policy chosen by the insured provides coverage for many medical expenses. This includes – Surgical expenses, Day-care expenses, and Critical illness, etc.

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    How Health insurance works?

    Let’s assume in a city there are 100 people. Ravi is one among them. Ravi takes health insurance of 1Cr up to the age of 54 years after which his son/daughter starts earning. Out of 100 the average people who become ill is around 15%. Which means only 15 people claim from the paid amount. The Balance amount goes to the banks management operations.

    Thus, the claim can be settled from the premium collected by other policyholders. This just like sharing the risk of one individual with a huge group. This is how the life insurance industry runs. Unless a huge disease affects people, the insurance companies can settle claims.

    CAFS Health Cover

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      CAFS Family Health

      Type of Health Insurance?

      Insurance companies has catered to every need of their customers in the last decade. Hence, they have started introducing plans to suits the different needs of their customers.

      Individual Health Insurance

      Individual health insurance plans offer insurance protection with the below benefits.

      • Cashless hospitalization
      • Reimbursement of medical expenses
      • Compensation for expenses for pre- and post-hospitalization expenses
      • Coverage for home treatment and many more

      Add Ones can also be taken with Individual health plans. This enhances basic health insurance coverage. The policyholder has to pay an extra amount besides the premium.

      Group Health Insurance

      Group health insurance is generally taken by the employers. This policy helps the employees to leave the concern about the health of their employees. The employees through their Medi-Claim policy can claim the expenses inured from the hospital itself.

      This helps the employee to be more attached towards the organisation. As the employee doesn’t have to pay any premium directly.

      Family Health Insurance

      As the name suggests family health insurance is taken by an individual for his whole family. With this plan the policyholders pays a single premium and the sum assured becomes claimable for one person among the family.

      If one person from the family faces illness, with the health insurance the particular person can claim the expenses with the health Insurance plan.