What do you understand by the term Co-insurance?

Co-insurance specifies a policy usually offered by health insurance companies. In this policy, the policyholder has to share the coverage with the insurance policy in a percentage of the policy value after paying the deductible or co-payment. Usually, it is an 80% and 20% split where the policyholder has to pay 20% while the insurance company pays 80% of the covered amount.

For example, suppose you have a health insurance policy for 120000 rupees, and the deductible amount is 20000. So after paying the deductible, the remaining amount is 100000, and the co-insurance is 80/20. You will have to pay 20000 out of your pocket, and the insurance company will pay the remaining 80000.