Insurance Awareness - Health Insurance
In health insurance, which of the following statements about 'Sub-limits' on coverage is CORRECT as per IRDAI guidelines?
In health insurance, which of the following statements about 'Sub-limits' on coverage is CORRECT as per IRDAI guidelines?
hard Q10 of Q15
Step-by-Step Solution
Step 1: Understand sub-limits
Sub-limits cap the claim amount for specific treatments or expenses within the total sum insured.Step 2: Analyze other options
Sub-limits do not increase sum insured; they are not related to life insurance only; nor are they penalties.Final Answer:
Sub-limits restrict the maximum claim amount for specific treatments within the overall sum insured → Option CQuick Check:
Sub-limits help insurers manage risk on high-cost treatments.
Quick Trick: Sub-limits = caps on specific treatment claims.
Common Mistakes:
MISTAKES- Confusing sub-limits with sum insured or penalties.
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