Co-payment
A fixed percentage of every claim that you pay yourself, with the insurer covering the rest.
A fixed percentage of every claim that you pay yourself, with the insurer covering the rest.
Co-payment (or “co-pay”) is common in senior citizen health policies and some standard plans, typically ranging from 10% to 30% of the claim amount. It's different from a deductible, which is a fixed amount rather than a percentage.
A co-payment clause reduces your premium but increases your out-of-pocket cost at claim time — it's worth calculating what that percentage means in rupee terms for a realistic large claim, not just accepting it because the premium looks attractive.
Example
A policy with 20% co-payment on a ₹5 lakh claim means the insurer pays ₹4 lakh and you pay ₹1 lakh, regardless of your sum insured being higher.
Found this term in your policy and still unsure?
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