What is Health Insurance? Health insurance is a type of insurance coverage that pays for medical and surgical expenses incurred by the insured person. It provides financial protection against expensive medical procedures, hospitalisation costs, and other healthcare expenses. An insurance policy is a contract between an insurance company and a policyholder where the former agrees to pay the healthcare expenses of the latter for a certain premium paid by the policyholder. Health insurance plans typically offer coverage for a wide range of treatments, including hospitalisation, doctor's consultations, diagnostic tests, medications, and surgeries. By paying regular premiums, policyholders can enjoy the benefits of insurance coverage and receive necessary medical care without worrying about the financial burden. An insurance company offers compensation to policyholders through these two channels: -As part of the cashless treatment, the policyholder does not have to pay any...
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