It is very important to have health insurance as it helps in catering to all the health needs. In this world where everyone is rushing, we often forget to take care of our health. We need to understand that health is our ultimate asset to lead a good and healthy life. Though it is uncertain we can combat it by having health insurance. Health insurance is insurance taken out to cover the cost of medical care. You will also enjoy the benefit of a no cash bonus. The benefits of Ncb means in insurance is that the policyholder receives a reward for maintaining good health all year without claiming during the year. Health insurance will cover all your pre and post-hospitalization expenses and also help to get you many benefits. You have to pay a premium annually and can redeem the whole amount in case of a medical emergency. In case of any medical emergency, you can rush cashless to the hospital but make sure to have all the health insurance documents.
NCB features reward more coverage and additional protection from healthcare expenses with each claim-free year. The bonus will automatically add in the sum insured which will help you in future to bear the medical expenses. To know the no claim bonus, you can calculate by taking out 10%-20% of the total premium. Also, note that the no claim bonus differs according to different insurance providers. Thus you will get an added support to cover all your medical expenses. Every year you enjoy uninterrupted good health, the bonus will keep adding up in the total amount.
Characteristics of no claim bonus in health insurance:
- A reward- Above the sum insured, this is a bonus that will automatically be added to the total amount.
- Eligibility- All family members are eligible to benefit from this no claim bonus if you have chosen a family floater plan.
- Percentage amount- If you get successful in managing no claim all through the year, you will be eligible to get 10% on the sum insured.
- Types- There are two types of no claim bonus, cumulative benefit, and discount on premium
Benefits of no claim insurance:
- Increases the sum insured- Some prefer to go for a small amount of health insurance which is not enough to meet the medical expenses when required. The no-claim bonus will help in increasing the sum insured. The policyholder will be eligible to use the increased sum any time of the year. The sum keeps on adding in the total sum assured. This way the policyholder can increase their savings.
- Transferrable- The amount of the no claim bonus can be transferred if the policyholder opts to switch for the policy.
- Financial shield- The no claim bonus will act as a financial shield for your medical emergencies. Even your family can use this no bonus claim, which will be their financial shield. Thus it will protect you and your family from medical emergencies.
- Encourage staying healthy- This will induce the policyholder to focus on their health so that they can get the benefit of a claim bonus.
So above are some of the benefits of no claim insurance. In case you are planning to switch from an individual to a family roaster plan, you will still get easy access to no claim bonus in your new plan. The benefits can be easily accumulated, which was in the previous health policy, to the other family members too. Also, note that the no claim bonus percentage varies depending upon the plan you are choosing while switching. You can claim the no bonus claim as cumulative benefits in the form of the high sum insured.
Take a note that not all health insurance providers provide the benefit of a claim bonus. Thus, it is very crucial to go through all the documents while choosing health insurance. If yes, ask the service provider how much percentage of sum assured you will get as no bonus claim. Know that NCB is an important aspect to consider while purchasing health insurance. Go through the terms and conditions and select one which offers you no claim bonus.
So if you are looking for health insurance, you can contact care insurance as they provide all the necessary features with no claim benefit too. Care Insurance is a well-known online platform known for providing the best health, travel, super mediclaim and corporate insurances with top features. Their professionals will guide you with all the necessary details so that you make the right choice. You can fill in all the details online with the less possible documentation process. The process is pretty simple and is completed within few steps. They are available 24×7 for claim support. Make sure to compare the features, ratings and recommendations of the online insurance providers before choosing.