Glossary
Cashless Claim
The insurer pays a network hospital directly.
In a cashless claim the network hospital seeks pre-authorisation and the insurer settles the approved amount directly. Under IRDAI's May 2024 Master Circular, insurers must decide cashless requests within one hour and discharge approvals within three hours.
Related guides
More glossary terms
DeductibleCo-payment (Co-pay)IDV (Insured Declared Value)No Claim Bonus (NCB)Claim Settlement Ratio (CSR)Incurred Claim Ratio (ICR)
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