Glossary
Co-payment (Co-pay)
A fixed share of every health claim that you pay yourself.
Co-payment means you and the insurer split each claim by a set percentage. It is common on senior-citizen health plans and makes your out-of-pocket cost less predictable. A lower co-pay is usually better, even if the premium is slightly higher.
Related guides
More glossary terms
DeductibleIDV (Insured Declared Value)No Claim Bonus (NCB)Claim Settlement Ratio (CSR)Incurred Claim Ratio (ICR)Sum Insured
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