I recently bought a health insurance plan from a prominent insurance company, what is the meaning of Co-insurance?

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Pariculary in your case mentioned in the question, Co-insurance mean deductible or policy excess which is a determined amount bear by the insured from  each and every loss arises during the period of insurance before the insurace company payment of the claim. i.e certain agreed amount deducted from any claim paid to the policy holder .

Best wishes.