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Tuesday 14 April 2020

What is a No Claim Bonus ?

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What is a Religare Health Insurance No Claim Bonus ?
No claim Bonus is the bonus which is provided by Insurance Company if the customer not apply for Claim in Last Years. That customer use the No Claim Bonus ?

What is a No Claim Bonus ?

No Claim Bonus scheme and term and condition vary from Insurance to Insurance Company.

This concept works on the same lines as the no-claim bonus on your car insurance also. A Customer who have Policyholder, who has not made any claim in a year, can use the bonus to their benefit the following year as par scheme

CARE offers a 10 percent increase in the policy sum insured for every claim-free year. with no change in premium. So, a policy with a sum insured of Rs 5 lakh, Customer will get an extended cover of Rs 50,000 the following year at the same premium.
And also A claim-free third year will see him earning another ten per cent extra cover on his base sum insured, taking the total to Rs 600000. A maximum bonus of up to 50% is permissible.

In case of claim, the accumulated bonus is reduced by 10%.

What is Religare Health Insurance No Claim Bonus Scheme

By choosing an optional cover NCB Super you can further increase your sum insured amount by 50% for every claim free year up to a maximum of 100%.

Hence in total with both No Claim Bonus & NCB Super one can increase their sum insured up to 150% in 5 years.

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