Medical and Health Insurance

Medical and Health insurance covers the cost of private medical treatment such as the cost of hospitalisation and healthcare services, if the insured person is diagnosed with any illness covered under the policy or has had an accident.

This policy will help to pay for the various hospitalisation and medical expenses that one incurs, if he/she becomes ill or injured. These expenses will include

• hospital room and board,
• professional and surgical fees,
• anaesthetist's fees,
• medical supplies and services,
• hospital income benefit (allowance),
• ambulance fees.

Some of the definitions under health insurance are :

• Pre-existing conditions : certain existing illness that the insured already has prior to taking cover.
• Waiting period : the period whereby the insured cannot claim for sickness but is allowed to claim for accidents.
• Specific illness : illness that will only be considered covered after a specific period.
• Inner limits : the maximum amount payable for specific item that is described in the schedule.
• Annual limits : the maximum amount payable on an annual basis.
• Lifelong limit : the maximum amount an insured can claim through his lifetime.
• Cooling-off period : the period given to the insured to decide on the policy and full refund of premium is allowed if the policy is cancelled within the cooling-off period. Normally 15 days.