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Contributor
Shinoy Chenatra
Posts: 24
Registered: ‎28-08-2017

What is cumulative bonus?

What is cumulative bonus?

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Regular Contributor
Arti
Posts: 199
Registered: ‎30-08-2021
Solution

Re: What is cumulative bonus?

Cumulative Bonus is the bonus or rather a reward that a policyholder gets for remaining fit and not filing a claim. The benefit of cumulative bonus is granted in the year of renewal by making an increase in the sum insured amount, only up to a certain year for every claim-free year.

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Contributor
Nikhil Shetty
Posts: 23
Registered: ‎28-08-2017

Re: What is cumulative bonus?

If no claim has been made in Hospitalization cover and the Policy is renewed with the same insurance company without any break, they will apply a cumulative bonus to the next Policy Year by automatically increasing the Sum Insured for the next Policy Year by 5% of the Basic Sum Insured for this Policy Year.

Regular Contributor
Arti
Posts: 199
Registered: ‎30-08-2021
Solution

Re: What is cumulative bonus?

Cumulative Bonus is the bonus or rather a reward that a policyholder gets for remaining fit and not filing a claim. The benefit of cumulative bonus is granted in the year of renewal by making an increase in the sum insured amount, only up to a certain year for every claim-free year.