Co-pay is short for compulsory payment. It means that in the case of a claim, the specified part of the claim would be paid by the policyholder and the remaining claim would be settled by the insurance company.
Under Aditya Birla’s Activ Assure Diamond plan, a co-payment of 20% is applicable if you or any other insured member is aged 61 years and above at the time of buying the policy. This means, that in a claim, 20% of the claim would be borne by you and the insurance company would bear 80%.