back arrow Back

Should you consider No Claim Bonus when upgrading your Health Insurance?

reply Share
05 Dec, 2020 by  Shubham Aggarwal

I've a health insurance of 10L for myself. NCB of 2L and NCB super 20L. Haven't made any claims since bought the policy 3 years ago. Does this mean my sum insured is 22L? Does it make sense to increase my sum insured to 15L at this moment?

like like
0
Health Insurance

1 Answer

Post
08 Dec, 2020
  1. If you have a base health insurance cover of Rs. 10L + 2L NCB + 20L Super NCB, that does make your cover Rs. 22 Lakhs. There shouldn't be any confusion here.
  2. Your adequate cover should be the cover you buy today for your old age. It depends on your current age, family construct, city etc. Given the high medical inflation, if you are 30 today, you should target a Rs. 20-25L cover per adult in the family as soon as possible, but not later than 40.
  3. As the name suggest, let No Claim Bonus be bonus . We recommend you build an adequate base cover irrespective of the No Claim Bonus, standard restoration benefits etc.


like like
0
icon-comment 0 Comments
icon-reply Reply
Discover the best tips for insurance every week!
beshak logo

Beshak is your source for clear, research-backed information & analysis of insurance plans. Our sole focus is to help you make well-informed decisions on insurance. We don't sell or advertise insurance plans or companies.

facebook icontwitter iconlinkedin icon

Beshak is not regulated by the Insurance Regulatory and Development Authority of India (IRDAI) and does not have any alliance or association with any Insurance business. © Copyright 2021 Beshak Solutions Pvt. Ltd. All Rights Reserved.

Disclaimer: The content on the website is purely for information purposes for the public at large, and does not constitute personal financial advice for a specific individual reader.
If you are reading this, it means you love reading the fine print. Why not get paid for what you love doing - Join us by writing to info@beshak.org now 🙂