Category
Insurance Products & Plans
10 terms explained in plain English, with Indian context.
- Critical Illness CoverA Critical Illness (CI) cover is an insurance product that pays a lumpsum, defined-benefit amount on the diagnosis of one of a listed set...
- Endowment PlanAn endowment plan is a traditional life insurance product that combines a death benefit with a maturity benefit — the insurer pays the su...
- Group Health InsuranceGroup Health Insurance is a single health policy issued to a defined group — typically an employer covering its employees, but also exten...
- Hospital Daily Cash BenefitHospital Daily Cash (HDC) benefit is a health insurance product that pays a fixed daily amount for each day the insured is hospitalised, ...
- Maternity CoverMaternity cover is a health insurance benefit that pays for medical expenses related to pregnancy, childbirth (normal delivery and caesar...
- Money-Back PolicyA money-back policy is a variant of traditional endowment insurance where, instead of paying the entire savings benefit at maturity, the ...
- OPD CoverOPD (Out-Patient Department) cover is a health insurance benefit that pays for medical expenses incurred without hospital admission — doc...
- Personal Accident CoverPersonal Accident (PA) cover is a general-insurance product that pays a defined benefit on accidental death, permanent total disability, ...
- ULIP (Unit Linked Insurance Plan)A Unit Linked Insurance Plan (ULIP) is a life insurance product that combines a life cover with a market-linked investment component, whe...
- Whole Life InsuranceWhole life insurance is a life insurance product that provides coverage for the entire lifetime of the insured — typically up to age 99 o...