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The Insurance Times
ours, for the sole purpose of receiving treatment.
Insured/You/Your/Insured Person :
Any body shown on the Schedule as Insured in this Policy.
Insurance :
Insurance is a contract in which an individual or entity, pays the insurance company in
return for the insurance company bearing the risk of loss against specified conditions.
IRDA :
IRDA stands for "Insurance Regulatory and Development Authority".
Lapse:
Termination of a policy upon the policyholder's failure to pay the premium within the
time required.
Managed care:
Healthcare systems that integrate the financing and delivery of appropriate healthcare
services to covered individuals by arrangements with selected providers to furnish a
comprehensive set of healthcare services, explicit standards for selection of healthcare
providers, formal programmes for ongoing quality assurance and utilisation review and
significant financial incentives for members to use providers and procedures associated
with the plan.
Medical Practitioner :
Medical Practitioner means a person who holds a degree/diploma of a recognized
institution and is registered by Medical Council of the respective State of India. The
term Medical Practitioner would include Physician Specialist and Surgeon.
390 Guide for Health Insurance
