The term indemnity insurance refers to an insurance policy that compensates an insured party for certain unexpected damages or losses up to a certain limit—usually the amount of the loss itself. Insurance companies provide coverage in exchange for premiums paid by the insured parties.
Fixed indemnity health insurance is a type of medical insurance that pays a pre-determined amount on a per-period or per-incident basis, regardless of the total charges incurred. Plans might pay $200 upon hospital admission, for example, or $100 per day while a person is hospitalized.
The term indemnity insurance has been designed to help you manage risks of cancer disease to your health. A cancer policy helps mitigate the expenses related to getting good quality cancer treatment, thus providing the insured with the required financial support.
