Bharti AXA HEALTH Insurance What is Deductible in Insurance? 12 Sep 2017 Time for insurance 101, because there’s nothing more important than the basics! An insurance plan, be it health insurance, car insurance or any other general insurance, has a few defining characteristics and traits. One of the seminal traits of an insurance plan is that it allows you to enjoy the benefits of having an entire organization pay for your bills or expenses. It is quite similar to having a guardian angel on your shoulder. Another seminal trait of an insurance plan, the one that we will be focusing on today, is what is known as the deductible. Essentially, the “deductible” part of your insurance plan is the amount that helps you create a connection between you and the company that insures you. It represents that the amount of capital which has to be invested by you in case of a loss or a purchase (a car accident, or the purchase of a house, etc.) before the company starts paying for the same. In simpler words, it is the amount of money that you have to pay from your own pocket before the insurance company starts paying. The Diversity of Deductibles As per this arrangement, the deductible acts as the bridge or the middle ground which enables the sharing of risk between the insurance company and you during a loss or purchase. Different insurance plans as well as different insurance companies have diverse ranges and forms of deductibles. Sometimes, deductibles might be in the form of a specific amount, while in other cases, it is in the form of a percentage amount of the total amount of insurance available on a policy. The higher the deductible amount is on a policy, the lesser will be the premium to be paid. To help make your decisions smoother and more informed, we have listed down the characteristics of deductibles for two main types of general insurance policies on our website: Deductibles on Health Insurance: Some of the main areas where deductibles are incurred as per the intricacies of the various health insurance policies offered on our website include routine medical check-ups, dental treatment, eye and ear examinations, birth control procedures, AIDS and HIV related treatments, and so on. Moreover, for the first two years, deductibles will be incurred on treatments such as dialysis, cataract surgery, myomectomy, hernia, all types of skin diseases, internal tumors, gastric ulcers and so on. Lastly, any treatment charges incurred during the first 30 days from the purchase of the policy would be deemed as deductibles. Deductibles of Car Insurance: The main areas where deductibles would be incurred in case of car insurance policies offered by us include drink and drive accident cases, staged accidents, commercial activity, regular wear and tear maintenance charges, consequential damages from driving outside geographical limits, illegal driving conditions, etc. How can we help? There are a few ways in which you can increase the benefits that you obtain through your selected insurance policy with the help of deductibles. One sure shot way is to opt for voluntary deductibles and avail a discount on your premium amount according to the type of insurance policy as well as the amount invested. Armed with this information, you should be ready to choose an insurance policy that best fits your preferences. Why choose Bharati AXA Health Insurance With health insurance plane, financially secure yourself and your family at affordable premiums FLEXIBLE PLANESComprehensive Range of medical cover up to Rs 1 Cr TAX SAVINGSUp to Rs 55,000 Tax-saving under 80D CASHLESS CLAIMSClashless Hospitalization Across 4500+networks hospitals DEDICATED CLAIMS HANDLER Explore Our Products Car Two Wheeler Travel Health Critical Illness Personal Accident Request Call Back Category * - Select -CarTwo WheelerHealthTravelPersonal Accident Buy Renew Claim submit Disclaimer : The information published on this website is for the public's reference only. Content of this information is to provide an overview of your Travel needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice. Bharti AXA General Insurance Company Limited makes no representations about the suitability, reliability, timeliness, and accuracy of the information, travel, services, or any other items mentioned on this subject for any purpose whatsoever.