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Coinsurance and co-payments are very similar in that the insured is taking on a burden of the payment for the insurance company. Learn how coinsurance is often used as a broad term for all insurance types, while co-pay generally refers to medical insurance, with information from alicensed life and health insurance representative in this free video on insurance. Expert: John Pinelli Bio: John Pinelli is a financial service broker for Northwestern Mutual Insurance. Filmmaker: Bing Hu