New Delhi, July 31 -- Health insurance policies often include technical terms that can be difficult to understand. However, not knowing what these terms mean could increase your out-of-pocket expenses during a medical emergency.

Two commonly misunderstood features are co-payment and deductible. While both can help lower your insurance premium, they work very differently when it comes to settling claims.

Understanding how these features work can help policyholders make informed decisions and choose a plan that suits their healthcare needs and financial situation.

A co-payment is a fixed percentage of the claim amount that the policyholder must pay, with the insurer covering the remainder.

For example, if your health insurance policy ha...