What is the deductible?
Is deductible is the amount of economic participation of the insured in the loss at the time of an accident. This is stipulated in the particular conditions of the insurance, and can be a fixed amount, a percentage on the insured value, or a percentage on the loss.
What is co-insurance?
Co-insurance is the percentage of participation of the insured in the expenses presented to the insurance. These percentages are stipulated in the particular conditions of each insurance contract.
What is the underinsurance?
The underinsurance is when the insured value is lower than the market value of the asset. At the time of a claim, the insurer will indemnify proportionally less to the insured lower amount. It is for this reason that the insured assets must be insured at their market value, and never below this value.
What is a pre-authorization?
It is the request that is sent to the insurance company to perform a certain procedure such as a TAC, MRI, hospitalization or expenses in an amount exceeding $ 300. The objective is for the insurer to authorize the cost of the procedure and be can coordinate direct payment with the service provider. It is very important to pre-authorize, otherwise there could be differences between the amounts charged for the procedures and the payments by the insurance companies.
What are pre-existing diseases?
They are diseases, injuries, suffered before the date of insurance contracting. These conditions would not usually be covered by medical expenses insurance, unless you have the express authorization of the insurance company. This authorization must be in writing in the particular conditions of the medical expenses insurance.