What is Policy Period in Health Insurance? - Ditto

Health Insurance Glossary

The policy period is the duration for which the insurance policy is valid and provides coverage for the insured. The policy period is the insurance policy documents, and it can range from a few months to several years, depending on the type of insurance policy.

It's important that the policy period is different from the effective date and the expiration date of the policy. The effective date is the date on which the coverage under the policy starts, while the expiration date is the date on which the coverage ends.

In case the policyholder wishes to extend the coverage beyond the policy period then they need to renew the policy by paying the premium for the new policy period. It's essential to keep track of the policy period and the expiration date.

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A

Accident Accumulation Period Acute Care Add-on Covers Age Limit Agent Ambulance Cover Annual Renewal Date Any One Illness Automatic Restoration AYUSH Treatment

B

Beneficiary Benefit Blacklisted Hospitals Broker

C

Cancer Insurance Cashless Claims/Treatment Cashless Facility/Hospitalization Certificate of Insurance Claim Claim Settlement Claim Settlement Ratio Co-insurance Co-Pay or Copayment Comorbidities/Pre-Existing Diseases Complimentary Health Check-ups Convalescence Benefit Critical Illness Cumulative/No-Claim Bonus

D

Daily Hospital Cash Day Care Treatment Deductible Dependents Domiciliary Hospitalization

E

Eligibility Emergency Care Exclusions

F

Family Floater Policy First Diagnosis Free Look Period

G

Grace Period Group Health Insurance

H

Health Insurance Tax Benefits Hospitalization

I

Illness Individual Health Insurance Inpatient Care Insurer IRDAI

L

Lapse Long-Term Care Policy

M

Maternity Expenses

N

Network Provider/Hospital No Claim Bonus (NCB)Nominee Non-Network Provider/Hospital

O

Out-Patient Department (OPD)/Treatment

P

Personal Accident Cover Policy Coverage Policy Document

Policy Period

Portability Post Hospitalization Expenses Pre Existing Disease (PED)Pre Hospitalization Expenses Premium Primary Insured Private Room Psychiatric Cover

R

Refill Sum Insured Reimbursement Renewal Restoration Benefit Rider Room Rent Limit

S

Senior Citizen Health Insurance Specific Illness Waiting Period Sub-Limit Sum Insured

T

Terminal Illness Third-Party Administrator (TPA)Top-up Plans

W

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