1.It is the contract between the insurer and the insured where in the insurer agrees to pay hospitalization expenses to the extent of an agreed sum insured in the event of any medical treatment arising out of an illness or an injury.
2.A Health insurance policy generally covers the basic costs in case of hospitalization due to any accidents/diseases/illnesses which do not form a part of the permanent exclusions of the policy.
3.Health insurance policies gives a tax benefit under Sec 80 D of income tax Act.
4.Grace period beyond the expiry date of the policy for renewal is 30 days.
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