Cumulative Bonus
Cumulative Bonus Under Mediclaim policy
Procedure for Cumulative Bonus (CB) of Expiring policy on renewal as Mediclaim Policy (2007).
The Cumulative Bonus already earned will be shown separately under the Policy. A one-time increase of 5% Cumulative Bonus will be allowed to those insured persons who have already earned cumulative bonus ranging from 30% to 45%. No further increase in Cumulative Bonus will be considered in the subsequent intervals.
In the event of claim, entire Cumulative Bonus will be withdrawn at the time of renewal, irrespective of the claim amount.
Preferably single Mediclaim policy should be issued to one proposer. In case the insured is having more than one policy, the Cumulative Bonus will be withdrawn in all the policies, as contribution clause will be applicable.
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Hannah Punitha. (2020, July 30). Cumulative Bonus. Medindia. Retrieved on Dec 16, 2024 from https://www.medindia.net/health/insurance/new-india-assurance-bonus.htm.
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