Algates Insurance
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Health insurance relies on risk pooling, where individuals contribute premiums to a shared fund that covers medical costs when someone needs care. This spreads financial risk, making healthcare more affordable. Plans are typically indemnity (reimbursing medical expenses) or managed care (network-based with copays/deductibles). Key costs include premiums, deductibles, co-pays, and out-of-pocket maximums.
Room rent limits in health insurance determine the maximum daily amount an insurer will pay for a hospital room. Typically set as a percentage of the sum insured (e.g., 1% of ₹5 lakh = ₹5,000/day), exceeding this limit means paying the difference out of pocket. If you choose a room within the limit, the insurer covers all costs. Exceeding it can increase room charges and related expenses like doctor fees.
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Algates Insurance, Bangalore, Karnataka, India. 24 likes. Life Insurance and Health Insurance
