Reimbursement vs Lump Sum

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Claims differ between insurance products but it is usually defined by reimbursement or lump sum. By reimbursement, it means medical expenses would be reimbursed fully or partially according to the insured’s paid amount. By lump sum, it means the insured would get an one-off payment once the claim is approved.


In Bowtie, 3 products including VHIS, Touchwood and Cancer Fighter are settled by reimbursement; while the other 2 products, including Critical Illness and Term Life are settled by lump sum.