Monthly No Claim Bonus OPD Sum Insured in Health Insurance

If you are wondering about the No Claim Bonus (NCB) in health insurance, this blog will give you an in-depth idea. It is a remunerative benefit that you get in your health insurance plan. NCB is one of the modest ways through which you can get a claim-free year from your insurer. 

Remember, you get to enjoy this benefit, only if you did not raise any claim in the previous policy term. That is why No Claim Bonus is one of the most crucial factors to consider while buying a health insurance plan. Read below to explore more about this in the below sections.

No Claim Bonus comes with the following benefits, which make it preferable to get into a health insurance plan. Consider the following pointers to understand the needs of NBC in your health insurance plan.

No Claim Bonus (NCB) is one of the simplest ways of getting a reward from your insurance provider for each claim-free year. You should consider it while buying a health insurance plan.  In the below section, you will get to know the important factors related to No Claim Bonus sum insured. 

1. Any NCB Sum Insured that has accrued will be available for any claims made in the subsequent policy year.

2. If you choose not to renew this Basic Benefit Option, the NCB Sum Insured under the Policy shall be forfeited at the time of renewal of your policy. 

3. The NCB Sum Insured cannot be more than the Base Sum Insured during any policy year. 

4. If the base sum insured is reduced at the time of renewal, the applicable NCB sum insured will be calculated on the revised base sum insured on a pro-rata basis.

5. If you claim under Basic Benefit (In-patient Hospitalisation) or Basic Benefit (Day Care Treatment) during your policy term, the NCB sum insured in the subsequent policy year will be zero. 

6. In case, the base sum insured under your policy increases at the time of renewal, the NCB sum insured will be calculated on the initial sum insured of the last completed policy year.

Due to the high inflation rate in India, medical expenses are rising gradually. Under such situations, the No Claim Bonus is an ideal way to enhance your health care coverage. Now that you are aware of everything about the No Claim Bonus in health insurance, avail it and ensure optimal safety for you and your family members. 

_{Disclaimer: The plans, services, features, processes, and other details mentioned on this page are subject to availability and changes. Please check the applicable policy wordings before making any insurance-related decisions. Feel free to reach out to us at [email protected] for any queries.}