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Health Insurance Terms Quiz: 10 Questions with Answers

Written by the Quizzeela team · Reviewed by Utsav Raj
Last checked · 10 questions · Easy

Health insurance policies are full of special words. Learn the 10 most important ones before you buy or claim.

New to this topic? Read the guide firstHealth Insurance in India: What Mediclaim Covers and Key Terms Play as a timed quiz and earn coins

1What is the "premium" in insurance?

  1. A bonus at the end
  2. The amount you pay to keep the policy active
  3. A hospital bill
  4. The amount the insurer pays you
Show answer
Answer: B. The amount you pay to keep the policy active. The premium is what you pay, monthly or yearly, so that your cover stays active.

2The "sum insured" is:

  1. The hospital room rent
  2. The highest amount the insurer will pay in a policy year
  3. Your salary
  4. Your yearly premium
Show answer
Answer: B. The highest amount the insurer will pay in a policy year. It is the maximum the insurer pays for covered claims in a policy year.

3A "waiting period" means:

  1. Time you wait at the hospital
  2. Time to get a refund
  3. Time to renew
  4. Time before some illnesses or benefits are covered
Show answer
Answer: D. Time before some illnesses or benefits are covered. Some conditions are covered only after a set time from the start of the policy.

4In a "cashless claim":

  1. The insurer settles the bill directly with a network hospital
  2. You pay and claim later
  3. Only cash is accepted
  4. Nothing is covered
Show answer
Answer: A. The insurer settles the bill directly with a network hospital. At a network hospital the insurer pays the hospital directly for covered costs, so you pay less upfront.

5"Co-payment" means:

  1. A share of each claim you pay yourself
  2. Paying twice
  3. A second policy
  4. A discount on premium
Show answer
Answer: A. A share of each claim you pay yourself. With co-pay, you pay a fixed percentage of the claim and the insurer pays the rest.

6A "pre-existing disease" is:

  1. A condition you already had before buying the policy
  2. A disease with no cure
  3. An illness you get after buying the policy
  4. Any accident
Show answer
Answer: A. A condition you already had before buying the policy. It is a condition you had before the policy started. These often have their own waiting period.

7A "network hospital" is:

  1. A government clinic only
  2. A hospital tied up with your insurer for cashless treatment
  3. A hospital with Wi-Fi
  4. Any hospital in India
Show answer
Answer: B. A hospital tied up with your insurer for cashless treatment. Network hospitals have an agreement with the insurer, which makes cashless claims possible there.

8A "deductible" is:

  1. A free check-up
  2. The policy number
  3. A tax benefit
  4. An amount you pay before the insurer starts paying
Show answer
Answer: D. An amount you pay before the insurer starts paying. Up to the deductible amount you pay yourself. Above it, the insurer pays as per the policy.

9The "grace period" for renewal is:

  1. Time to file a claim
  2. Extra time after the due date to pay the premium
  3. Time to change insurer
  4. A free month of cover
Show answer
Answer: B. Extra time after the due date to pay the premium. It is a short extra time after the renewal date to pay the premium without losing your continuity benefits.

10Under India's old tax regime, health insurance premiums can give a deduction under section:

  1. 80C
  2. 24(b)
  3. 10(14)
  4. 80D
Show answer
Answer: D. 80D. Section 80D covers health insurance premiums under the old regime. Check the current year's limits before filing.
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Sources: IRDAI consumer education material and standard insurer glossaries. For learning only, not financial, tax or insurance advice. Found a mistake? Use "Report a mistake" in the timed quiz.