Grace Period in Health Insurance: 15 vs 30 Days, Coverage and Lapse Rules
Grace Period in Health Insurance: Meaning, Duration & Benefits AI OVERVIEW A grace period is the extra time after your health insurance premium due date during which you can still renew without the policy lapsing and without losing continuity benefits like waiting-period credit, cumulative bonus, and moratorium progress. Under IRDAI norms, it is commonly 15 […]
Free Look Period in Health Insurance: 30-Day Rule, Refund Calculation and Process
What is A Free Look Period in Health Insurance? AI OVERVIEW The free look period is a window after you receive a new health insurance policy during which you can review it and cancel it for any reason. IRDAI rules now give 30 days from the date you receive the policy document (physical or electronic). […]
Claim Settlement Ratio in Health Insurance: What is a Good CSR? (2026)
Claim Settlement Ratio (CSR) in Health Insurance: Importance AI OVERVIEW Claim Settlement Ratio (CSR) shows the share of health insurance claims an insurer settled out of the claims it had to handle in a year. A higher CSR generally signals a greater likelihood that claims are paid. Many advisors look for a CSR consistently above […]
How to Read Your Health Insurance Policy Document: A Section-by-Section Guide
AI OVERVIEW A health insurance policy has four key parts: the Policy Schedule (who is covered, sum insured, dates, premium, add-ons, declared conditions and the product’s IRDAI Unique Identification Number), the Customer Information Sheet (IRDAI-mandated one-page summary of key features, exclusions and waiting periods), the Policy Wording (definitions, coverage, exclusions, conditions, claim procedure and grievance […]
What Is a Deductible in Health Insurance?
Quick Gist A super top-up plan is a second layer of coverage that switches on only after your medical bills cross a set threshold in a policy year. That threshold is the deductible in health insurance, the entry barrier your expenses need to clear before the top-up steps in to pay. For example, if your […]
