Cumulative Bonus / No-Claim Bonus (NCB)
A cumulative bonus or no-claim bonus is a reward granted by the insurance company at the time of renewal if you do not file a claim in the previous year. Typically, this reward is in the form of an increase in coverage without any associated increase in premium. The increase in coverage happens for every claim-free year till your coverage reaches a maximum limit.
For instance, if you buy a health insurance policy with a base cover of Rs. 10 Lakh and do not make any claim in the first policy year, your insurer might increase your coverage by 50% at renewal. If you renew the policy with the same insurer, your coverage in the second policy year jumps to Rs. 15 Lakh without paying any added premium.
Some health policies provide a cumulative bonus by default, whether you make a claim in the previous year or not. Some policies provide rewards in the form of discounts on the renewal premiums for not making any claim in the previous year.
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A
- Accident
- Acute Care
- Acute Condition
- Age Limit
- Agent
- Ambulance Cover
- Annual Health Checkup
- Annual Renewal Date / Renewal Date
- Any One Illness
- AYUSH Treatment
B
C
- Cancer Insurance
- Cashless Facility
- Chronic Condition
- Claim
- Claim Assessment
- Claim Rejection / Claim Repudiation
- Claim Settlement
- Claim Settlement Ratio
- Comorbidity
- Congenital Anomaly
- Consumables
- Continuity Benefit / No-Lapse Benefit
- Contract
- Convalescence Benefit
- Copayment
- Critical Illness
- Cumulative Bonus / No-Claim Bonus (NCB)
D
- Daily Hospital Cash / Daily Cash
- Day Care Treatment
- Deductible
- Discharge Summary
- Domiciliary Hospitalisation
- Durable Medical Equipment
E
F
G
H
I
- Illness
- Indemnity
- Injury
- Inpatient Care / Inpatient Hospitalisation
- Insurance Ombudsman
- Insured Person
- Insurer
- Intensive Care Unit (ICU)
- IRDAI
L
M
N
O
P
- Personal Accident Cover
- Planned Hospitalisation
- Policy Document
- Policy Schedule
- Policyholder
- Portability
- Post-Hospitalisation Expenses
- Pre-Authorisation (of Cashless Claims)
- Pre-Existing Disease (PED) / Pre-Existing Condition
- Pre-Hospitalisation Expenses
- Pre-Policy Medical Check-Up
- Premium
- Proportionate Deduction
R
- Reasonable and Customary Charges
- Reimbursement
- Renewal
- Renewal Premium
- Restoration Benefit / Automatic Restoration
- Rider / Add-on Cover
- Room Rent Limit
S
- Shared Accommodation
- Sub-Limit
- Sum Insured
- Super Top-Up Health Insurance Plan
- Surgery or Surgical Procedure
- Survival Period
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