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All About No-Claim Bonus in a Health Insurance Policy

No Claim Bonus refers to the additional coverage offered by the insurer for not making any claims during a policy year. Most insurers provide an additional 5% increase in sum assured amount for No Claim Bonus.
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Health Insurance policies in India offer No Claim Bonus as benefit for not registering and availing the claim amount during the policy period. This bonus can be availed while renewing your health insurance policy. Most insurance providers in India offer No Claim Bonus to the insured during the policy tenure. Some insurance companies offer an increase in sum assured, in the form of a cumulative bonus, to replace this No Claim Bonus. Companies that do not offer a NCB often provide a rebate on the renewal premium in order to stand at par with its competitors.

Things to Know About No Claim Bonus:

Cumulative Bonus in Health Insurance Plans

Cumulative Bonus:

The No Claim Bonus offered on a health insurance policy is usually in the form of a cumulative bonus. This is offered by insurers on indemnity based health insurance policies. This is offered to the policy holder under the following situations:

  • There is a progressive increase in the Sum Assured, by a value of at least 5%. This is the cumulative bonus accrued during one policy year in which no claim has been made by the insured. The cumulative bonus can be accumulated for a maximum period of 10 years.
  • The cumulative bonus that a policy holder is eligible to receive on his/her health insurance policy will be stated in the policy document.
  • The cumulative bonus can be applied to the sum assured for a 3-year period. This can help to renew the policy by the due date as well.
  • The cumulative bonus will expire if the person does not renew the health insurance policy by the due date.
  • The rate at which the sum insured is increased each year varies from 10% - 50%.
  • Claims made during overlapping periods of two health insurance policies will receive the benefit of the available sum insured and the cumulative bonus will not be reduced to zero.

Low Value Claim:

When the policy holder files a low value claim, he/she does not lose the entire No Claim Bonus. Only a small percentage will be deducted from the same.

Renewal of Health Insurance Policy:

The No Claim Bonus will also act as a discount on premium payable for the health insurance policy at the time of renewal. Generally, in order to avail this benefit, the policy should be renewed within 30 days of the due date for renewal.

Transferability of the No Claim Bonus:

The No Claim Bonus that has been accrued by the policy holder on a particular health insurance policy can be transferred to a new health insurance policy from another insurance provider. This can be availed at the time of renewing the policy.

Disbursement of No Claim Bonus:

The No Claim Bonus can be withdrawn at the rate at which it was provided on the policy document or it can be provided to the policy holder as a part of the sum insured after deducting the premium payable for the policy.

Claim Settlement Ratio:

Under Health Insurance, the claims which have not been settled are subdivided into – Claims Closed and Claims Repudiated. Claims closed are those which have not been paid out due to lack of follow-up or documentation offered by the policyholder. Closed Claims are generally not clubbed with the claims rejected by the insurance provider, thus this would not reflect in the claim settlement ratio projected by the company. As per existing regulations laid down by the IRDA, claims registered by a policyholder has to be settled within 30 days. This feature is added to the policy documents

Claims during Overlapping Policy Tenures:

If a claim has been raised at a time when two health insurance policy periods are overlapping, the sum insured that is available during both the policy periods can be availed. However, the sum insured that has been claimed during this period, will be reduced in the second overlapping year and will reflect on the premium at the time of renewal.

Limitations of TPA:

Third Party Administrators can only process a claim and cannot settle a claim. Settling a claim is the duty of the insurance provider only, at their discretion.

Good Claim Record Incentives:

By maintaining a low claim record, you can avail a rebate on premium as well as enhanced protection through the health insurance policy.

Claims on Two Policies:

When a claim is made on 2 policies, the sum insured is split among the two insurers equally. However, with the advent of the new IRDA guidelines, a policyholder can choose which insurer should settle his/her claim.

Deduction in No Claim Bonus after Raising a Claim:

Earlier, the IRDA guidelines on NCB for Health Insurance policies stipulated that once an individual files for a claim, he/she loses the entire No Claim Bonus accrued over the years. However, this norm was later changed to offer cumulative bonus to the insured who files for a low value claim.

Example:

Mr. Hritesh has availed a health insurance policy for Rs. 5 Lakh for a policy period of 10 years. The No Claim Bonus on this policy is 5% each year and the policy has to be renewed on the 11th year. The insured contracts an illness and is hospitalized in the 11th year. He files for a claim worth Rs. 50,000 out of the total sum insured of Rs. 5, 00,000 in order to meet his medical expenses. In the event of such as low value claim, the NCB of that year is deducted from the total No Claim Bonus accrued over 10 years. Therefore, the insured is eligible for 50% NCB and after deducting the claim registered in a single year (5%), he can avail a NCB of 45% in the 11th year.

GST rate of 18% applicable for all financial services effective July 1, 2017.

Disclaimer: Premiums may vary depending upon factors like age, location and prevailing taxes/GST.

No Claim Bonus Reviews

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  • ICICI Lombard Health Insurance
    "Good Health insurance provider"
    0.5 3.5/5 "Pretty good"
    This policy was part of my employment, I took the medical coverage of Rs. 5 lakhs for the tenure of one year, this medical benefits for my entire. They have good networks of hospital with major disease cover. But I think it doesn't have no claim bonus.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 11, 2019
  • Cigna TTK Health Insurance
    "On time service"
    0.5 5.0/5 "Blown Away!"
    On time Cigna TTK have activated the policy which provided by the company, the policy which I hold it has the coverage of Rs. 4 lakhs its covers for me. They are providing coverage for the pre existing with the tax benefits but there is no claim.
    Was this review helpful? 0
    , dandeli
    Reviewed on Jan 10, 2019
  • Cigna TTK Health Insurance
    "Its Good"
    0.5 5.0/5 "Blown Away!"
    In Cigna TTK, they are providing pre existing disease cover, but they don't have no claim bonus features. The response is good they have good customer care working 24/7 , the medical coverage is good for me and entire family. They have many hospital which they got tie up in Mumbai.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 10, 2019
  • National Insurance Health Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    My company has provided me a health policy from National insurance with the coverage of 2L. It is for the family members and no claim. I never contacted the customer service. Every year it was renewed by the company. They have limited networks of hospitals for cashless. It does not cover only eye problems, if we got admitted in hospital for 24hrs then applicable for claim.
    Was this review helpful? 0
    , pondicherry
    Reviewed on Jan 09, 2019
  • Star Health Health Insurance
    "Its Good"
    0.5 3.5/5 "Pretty good"
    I have taken the policy personally from my end for my parents. Star Health is providing pre existing disease cover, and major disease cover like heart disease and they do have no claim bonus. Senior citizen plan is good for the elders it has the medical coverage value around Rs.3 lakhs.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 09, 2019
  • Star Health Health Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I have a health insurance policy with Star health from last 2 years, a premium of Rs 13000 has to be paid for this insurance policy. I have no claim experience so far with this insurance. They gave a coverage value of Rs 6 lacs and it is for family.
    Was this review helpful? 1
    , bangalore
    Reviewed on Jan 08, 2019
  • SBI General Health Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    Along with my credit card, they have provided me this health insurance policy with SBI. I am not sure about the premium amount and coverage value. The premium has made through credit card. I have to check the hospital details. I had no claim experience with this policy.
    Was this review helpful? 0
    , thane
    Reviewed on Jan 04, 2019
  • United India Health Insurance
    "Better"
    0.5 4.5/5 "Excellent!"
    I also have a health insurance from United India which was offered by company. It covers 5 members of my family. The medical coverage is 5L for the family. The premium was paid by the company which I don't know the figure. I have no claim experience. They have good network of hospitals for cashless.
    Was this review helpful? 0
    , pune
    Reviewed on Jan 04, 2019
  • Chola Ms Health Insurance
    "Good"
    0.5 4.0/5 "Great!"
    When I have taken a SBI credit card and they have issued me a health policy from Cholamandalam. They have deducted around 4000 rupees for one year as a premium. I got the insurance paper and have no claim. The medical coverage is 1.25L. Once I go for claim can give better feedback.
    Was this review helpful? 1
    , pune
    Reviewed on Jan 04, 2019
  • Oriental Insurance Health Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I have a health insurance policy with Oriental insurance from last 3 years, i pay a premium of more than Rs 10000 for this insurance policy. There was no claim experience so far with this insurance. This policy has a coverage value of Rs 5 lacs.
    Was this review helpful? 0
    , ghaziabad
    Reviewed on Dec 29, 2018
  • New India Health Insurance
    "Good Policy"
    0.5 3.0/5 "Satisfactory"
    I have been holding the health insurance policy for last 6 months. I have purchased this policy for myself, parents and my wife. The coverage value of the policy is Rs. 5 lakhs. I had no claim experience with this policy. Nearby hospitals are covered in my locality. I pay the premium amount which is nominal.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 28, 2018
  • SBI General Health Insurance
    "Yet to claim the policy"
    0.5 3.0/5 "Satisfactory"
    Total coverage of my medical policy is 2 lakhs. I have purchased a health insurance with SBI General. I make the premium amount of Rs. 9000. Most of the hospitals are covered in all the prime location. I had no claim experience with this policy. Me & my wife are covered in this policy.
    Was this review helpful? 1
    , guwahati
    Reviewed on Dec 12, 2018
  • Apollo Munich Health Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I am having a health insurance policy with Apollo Munich from last 3 years, i am not aware of the premium amount as my company pays it. There was no claim experience so far with this insurance policy. This policy has a coverage value of Rs 5 lacs.
    Was this review helpful? 0
    , kolkata
    Reviewed on Dec 11, 2018
  • HDFC Ergo Health Insurance
    "Good health insurance policy"
    0.5 3.0/5 "Satisfactory"
    I have purchased a policy for my family and i bought the policy from HDFC Ergo. I have paid the premium amount of Rs. 13650 yearly once. I have received a coverage amount upto Rs. 3 lakhs. This policy covers for me and my wife. The hospital list was fine. I had no claim experience with HDFC Ergo.
    Was this review helpful? 1
    , bangalore
    Reviewed on Dec 11, 2018
  • Royal Sundaram Health Insurance
    "No claim experience with Royal Sundaram"
    0.5 5.0/5 "Blown Away!"
    1 year back i have purchased the health insurance policy with Royal Sundaram and last month i have renewed the policy. They have given me a coverage value of 5 lakhs and they are providing the cashless treatment facility. I have received the no claim bonus.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 11, 2018
  • Reliance General Health Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I have a health insurance with Reliance general from last 8-9 months, i am not aware of the premium amount as my company pays it. I have no claim experience so far with this insurance policy. I have a coverage value of Rs 1.5 lacs and this policy is for individual.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Dec 10, 2018
  • review Health Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    The reason for taking the health insurance with the IFFCO TOKIO GENERAL INSURANCE is for tax benefits. The premium i pay 25k for this policy which gives the medical coverage is nominal. I have no claim with this policy and i am using it from last 10 years.
    Was this review helpful? 0
    , kolkata
    Reviewed on Dec 07, 2018
  • Reliance General Health Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I am having a health insurance policy with Reliance from last 2 years, i have no claim experience so far with this insurance policy. A premium of Rs 1800 has to be paid for this policy every month. It is a family policy with the coverage value of Rs 5 lacs.
    Was this review helpful? 0
    , new delhi
    Reviewed on Dec 06, 2018
  • United India Health Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I am having a health insurance policy with United India insurance from last 7 months, i am not aware of the premium amount as my company pays it. There was no claim experience so far with this insurance policy. Coverage value is Rs 5lacs for this insurance.
    Was this review helpful? 1
    , bangalore
    Reviewed on Dec 06, 2018
  • SBI General Health Insurance
    "Can do Better"
    0.5 4.0/5 "Great!"
    I took mediclaim insurance from SBI general, there was no claim they got tie up with many hospital and I have received my medical card on time. The policy activation process was easy they generated the policy on time without any discrepancy.
    Was this review helpful? 1
    , bangalore
    Reviewed on Dec 05, 2018
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