For beginners who want to understand all about health insurance policies, here are certain terms which could be hard to comprehend.

Deductible
This refers to the expenses that the insured has to bear before enjoying the benefits of the health insurance plan. This is generally charged on a yearly basis. The amount differs depending on individual or family insurance policies.

Co-insurance or Co-payments
This refers to the amount the insured needs to pay in addition to the deductible amount before the insurance provider starts paying for the expenses.

Lifetime Maximum
This is the maximum expense that the health insurance plan will pay the insured during his lifetime. The amount can differ between individual and family health insurance plans

Waiting Period
This refers to the duration that the insured has to wait after paying the premium to be entitled for certain medical insurance coverage.

Pre-existing Conditions
These are the illnesses or symptoms of health disorders that already exist at the time of applying for the health insurance plan. These have to be declared beforehand as some insurance companies completely exclude providing coverage for these conditions while some offer coverage after a certain waiting period.

Exclusions
These are the conditions under which the insured would not be reimbursed for the claims.