Medi Assist Healthcare IPO
Explore
One important concept in the field of finance, specifically in property and health insurance, is the coinsurance clause. This clause requires the policyholder to carry a certain amount of insurance based on the value of their property or health claim. This ensures that in the event of a loss, the policyholder will receive full payment. For health insurance, this means paying a percentage of each claim above the deductible. For example, a 20 percent coinsurance clause would require the policyholder to pay for the deductible plus 20 percent of their covered losses. Once the policyholder has paid 80 percent of their losses, the insurer will then cover 100 percent of the remaining losses up to a specified ceiling. Understanding the coinsurance clause is crucial in navigating the world of insurance and protecting one's assets and health.
