Health insurance: No claim bonus in insurance is not an unknown concept for policy holders. However, its benefit varies from company to company In general insurance, annual premium goes down while in health insurance, one's premium remains the same but the sum assured increases from around 5 per cent to 20 per cent.
However, it doesn't mean the sum assured in health insurance plan will continue to grow till there is no claim. According to experts, cumulative no claim benefit leads to rise in sum assured to maximum 100 per cent.