No Claim Bonus in Health Insurance Explained: How It Works & Benefits

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No Claim Bonus (NCB) is an important feature in health insurance that rewards policyholders for staying healthy and not making any claims during the policy year. In this video, we explain what No Claim Bonus is, how it works, and how you can benefit from it. Learn how NCB can help increase your sum insured without paying extra, and find out what happens if you make a claim. Get all your questions answered about No Claim Bonus and discover how Policybazaar can help you find the best health insurance plans with NCB benefits.

FAQs:

What is No Claim Bonus (NCB) in health insurance?
NCB is a reward given to policyholders for not making any claims during the policy year. It typically comes in the form of an increase in the sum insured without a rise in premium.

How does No Claim Bonus work in health insurance?
For every claim-free year, your insurer increases your sum insured by a certain percentage (usually 10-50%), which can accumulate over multiple years.

Does making a claim affect my No Claim Bonus?
Yes, if you make a claim, your accumulated No Claim Bonus may reset or reduce, depending on your insurer’s policy terms.

Is No Claim Bonus transferable?
Yes, in most cases, NCB is transferable if you switch to another health insurance policy or insurer, provided the policy is renewed without a break.

Does No Claim Bonus apply to all types of health insurance policies?
NCB is typically available in individual health insurance and family floater policies but may not apply to certain types of specialized health covers.

What is the maximum No Claim Bonus I can accumulate?
The maximum NCB varies by insurer, but it usually ranges between 50% and 100% of the original sum insured.

Does NCB increase my premium?
No, NCB increases your coverage (sum insured) without increasing your premium, making it a cost-effective benefit.

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