What is no claim bonus in health insurance?

A no claim bonus (NCB) is a discount on the premium of a health insurance policy that is offered to policyholders who do not make any claims during a specific period of time, typically one year. The amount of the discount varies from insurer to insurer, but is typically around 5-10%.

A no claim bonus can help policyholders to save money on their health insurance premiums, and can also be used as an incentive to avoid making unnecessary claims. If you are considering making a claim on your health insurance policy, it is important to weigh up the potential benefits and drawbacks before doing so.

Benefits of a no claim bonus:

* Can save you money on your health insurance premiums.

* Can be used as an incentive to avoid making unnecessary claims.

* Can help to build up your savings in the event of a major medical expense.

Drawbacks of a no claim bonus:

* May not be available from all insurers.

* May not apply to all types of claims.

* May be lost if you make a claim, even if it is not your fault.

Overall, a no claim bonus can be a valuable benefit for health insurance policyholders. However, it is important to be aware of the potential benefits and drawbacks before making a decision about whether or not to file a claim.