Indemnity health insurance plan is a health insurance policy in which the insured person can choose any hospital, doctor or health care service of his or her choice, without the need to get approval from insurance company. In this insurance plan, you will be required to pay the deductible amount, the co-insurance or co-payment and any extra charges that your chosen health care professional charges apart from what your insurance company has considered customary and usual.
One of the benefits of a professional indemnity insurance policy is that if your medical expenses reach the annual out of pocket maximum amount during a year, you will not be required to pay any coinsurance. The best thing is that these insurance plans come with more flexibility and more coverage, which are extremely beneficial for the insured person.