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

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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?

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Health Insurance

1 Answer

08 Dec, 2020
We breathe insurance :)
  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.

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