Definition: Insurance health - In insurance, "health" refers to the ability or capacity for individuals or households to enjoy a certain set of benefits or services when they are sick or injured. Cheap insurance - Cheap insurance means that it offers an affordable rate of premiums or payment options compared to other types of insurance plans. This can be important in situations where someone needs healthcare coverage but may not have enough money to cover all the costs themselves, such as high deductibles, copays, and out-of-pocket expenses. It is often offered by companies offering basic health insurance plans or more comprehensive policies that offer additional benefits like prescription drug coverage or hospitalization benefits.