The insurance policy offers no claim bonus to the policyholder as a benefit. It is one of the proper procedures to reward insurance holders for having a claim-free year. In the present time, as health insurance is playing a significant role in India, the no-claim bonus is considered one of the essential factors of purchasing health insurance. And, today, through the help of this blog, we are here to discuss the no-claim bonus in health insurance. Many people are unaware of this no-claim bonus. Today, with the help of this informative blog, we decided to present some essential information about this remunerative benefit in health insurance.
So, if you are a health insurance policyholder or plan to get the best health insurance in India, we suggest you go through this blog and select all the excellent information about the no-claim bonus. We are sure that you understand the different ways of no-claim bonus work and all the principles related to the health insurance policy. So, for more details, let’s dig into the information that is listed below.
Types of No-Claim Bonus
1) Cumulative Benefit
If a health insurance holder has a claim-free year, then the entire coverage amount of the policy gets an increment. But, in this case, the actual amount of the policy remains the same. And, according to various policies on a purchase of 5, 00,000 rupees insurance, you can get 5% of no claim bonus every year.
Similarly, if you do not claim the policy’s coverage amount for two consecutive years, then the bonus will increase up with the same premium rate. Therefore, you need to choose the best Star health insurance top-up plan for yourself and your family accordingly to get stress-free about the healthcare expenses.
2) Discounts on Premium
The premium rate of the health insurance policy gets decreased by a percentage for every claim-free year. There won’t be any changes in the coverage amount either you’ll benefit from the discount. Consequently, the insurance company can offer you a 5% discount on the claim-free year as a bonus when renewing the health insurance. Yes, you can surely take benefit of this discount and save your money.
So, you can’t get better protection for your family for your parents and yourself effortlessly with the help of the best health insurance policy. In India, no claim bonus is offered to the best Star health insurance plan for families and the best Star health insurance plan for the individual. Also, in some specific insurance companies, the terms and policies may vary from other health insurance providers.
How No Claim Bonus Works?
Majorly, most of the policyholders claim on their health insurance every year. Sometimes hospital expenses can indeed be affordable, and people can easily pay from their pocket, making it easier for you to be eligible for Star Health Insurance no claim bonus.
And, you can enjoy up to 5% of cumulative no-claim benefit without any hassle. Although, no claim benefit can be an excellent bonus policy of the Star Health Insurance Delhi that can help you enjoy the services from the particular insurance company.
It’s time to wrap up, and we hope that this informative blog has delivered you all the clear idea about the no claim bonus in a proper manner which helps to enhance the importance of health insurance in the present time. Hence, now it’s your turn to enjoy health insurance effortlessly to pay all the medical bills without any hassle. For further queries give a call +91-7347595768