Health insurance

Q1. Which statement best describes “Sum insured”?

1. Co-payment is a fixed share of every claim that you pay yourself, such as 20%, with the insurer paying the rest.
2. A no-claim bonus raises your sum insured, or lowers the premium, for each claim-free year.
3. The sum insured is the maximum amount the insurer will pay for claims in a policy year.
4. An exclusion is something the policy does not cover, such as cosmetic surgery or injuries from certain activities.

Q2. Which statement best describes “Co-payment”?

1. Co-payment is a fixed share of every claim that you pay yourself, such as 20%, with the insurer paying the rest.
2. Portability lets you move your policy to another insurer while keeping credit for waiting periods already served.
3. A restoration benefit refills the sum insured after it is used up in a year, usually for a different illness.
4. A deductible is an amount of the claim you must bear before the insurer starts paying.