Annuity
Meaning An Annuity is a financial product that gives you regular payments for a fixed period or for…
Claim
Meaning A Claim is a request made to an insurance company to receive money or benefits after a…
Claim Ratio
Meaning Claim Ratio shows how many claims an insurance company has received compared to the total number of…
Claim Settlement Ratio
Meaning Claim Settlement Ratio shows the percentage of claims an insurance company has approved and paid. Definition It…
Co-pay
Meaning Co-pay is the fixed percentage of the hospital bill that the policyholder must pay during a health…
Comprehensive Insurance
Meaning Comprehensive Insurance is an insurance policy that offers wide protection against multiple risks. Definition It covers damages…
Critical Illness Cover
Meaning Critical Illness Cover is an insurance benefit that pays a lump-sum amount if you are diagnosed with…
Cyber Insurance
Meaning Cyber Insurance protects individuals or businesses from financial losses due to cyberattacks. Definition It covers risks like…
Day Care Procedures
Meaning Day Care Procedures are medical treatments that require less than 24 hours of hospitalisation. Definition These procedures…
Amortization
Meaning Amortization means gradually reducing a loan or asset value over a fixed period. Definition It refers to…