Glossary beginning with I

Glossary

In-patient/Inpatient

A person who is admitted in a hospital for at least 24 hours. for treatment. Some insurance products only provide coverage for inpatient situations.

Indemnity Plan

A plan which provides coverage to pay a set portion, specified by the policy, of your total charges incurred during your visit to a doctor/ hospital of your choice.This is different that fixed benefit plans, wherein a fixed amount of cash is provided when a legitimate claim is made.

Individual

Self. Individual health insurance is insurance for an individual (as opposed to a family or a group of employees)

Insured

It is when something or someone has insurance coverage to protect them in the event of an accident or illness.

IRDA

Insurance Regulatory and Development Authority (IRDA) regulates and develops rules for the insurance industry in India. Cigna TTK Health Insurance products are also regulated by IRDA