What is No-Claim Bonus (NCB) in Health Insurance?

The No Claim Bonus in health insurance points to a reward that an insurance policyholder gets for maintaining better health and not claiming during a policy year. No claim bonus health insurance  "No claim bonus in health insurance meaning" denotes that it is usually a bonus amount that gets added to your sum insured for each claim-free year in the first year. This discount accumulates over consecutive claim-free years, reaching a maximum of 50%. This increases the sum insured or reduces the premium. No claim bonuses are applicable in health insurance when you do not make any claim in a policy year. NCB in insurance is generally applicable when renewing a policy and can lead to massive savings on premiums. No claim bonus health insurance serves as an incentive for maintaining good overall health and abstaining from making claims. With each consecutive claim-free year, this bonus piles or adds up, thus raising the overall health insurance coverage without incurring additional costs. You must choose a health insurance policy with the maximum No Claim Bonus/Cumulative Bonus for each claim-free year so that your sum insured gets increased. The NCB amount in health insurance differs from one insurance company to another. Usually, insurers provide a discount of around 5-10% for each claim-free year. The maximum discount could go up to 50% following five years of the claim-free policy period. 

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The information provided on this page is for general informational purposes only. Availability and terms of health insurance plans may vary based on geographic location and other factors. Consult a licensed insurance agent or professional for specific advice. T&C Apply.