Glossary
Cumulative Bonus
Extra sum insured you earn for claim-free years, at no extra premium.
IRDAI's standard definition: an increase in sum insured granted without an increase in premium. Rates and claim rules vary: 20% a year in Star Young Star, 50% in Care Supreme (not reduced by a claim), and a 20% Loyalty Bonus regardless of claims in ICICI Lombard Elevate.
Related guides
More glossary terms
DeductibleCo-payment (Co-pay)IDV (Insured Declared Value)No Claim Bonus (NCB)Claim Settlement Ratio (CSR)Incurred Claim Ratio (ICR)
Browse the full glossary →