Page 387 - Ebook health insurance IC27
P. 387
Sashi Publications
Moral hazard :
Hazard arising from personal characteristics, such as the habits, methods of management,
financial standing, mentalcondition, orlack ofintegrity ofan insuredwho may intentionally
cause, or hope for, a loss.
Morale Hazard :
A condition that causes persons to be less careful than they would otherwise be.
No claims bonus:
A reduction in the premium of an insurance policy effected through an increase in risk
cover offered, because no claims have been made on it in the past years.
Network Hospital :
Network Hospitals are hospitals and nursing homes which are associated with the "Third
Party Administrator"(see below). Cashless mediclaim is facilitated through this network
of hospitals as the TPA directly pays these hospitals.
No Claim Discount :
No Claim Discount is a discount on the Basic Premium if there is a claim free year of the
policy. If the insured does not make any claim on his policy, then he gets a discount from
5% to 25% on basic Premium for every claim free year.
Outpatient services:
The care provided to you in the outpatient department of a hospital, in a clinic or other
medical facility, or in a doctor's office.
Period of Insurance :
Period of insurance means the period shown in the Schedule for which you have paid
Website : www.bimabazaar.com, PH: 033 22184184/40078428 391
