What is a discount offered in health insurance?

Some of the very common discount offered in health insurance.

1. Family Discount - The discount that you get for covering more than one or two members on individual basis in a single policy is termed as family discount. A discount in the range of 5-10% on the premium is provided for every member.

2. Voluntary deductible - Voluntary deductible is a portion of claim which is not covered by the insurance company . It is a standard amount specified in insurance document which the insured as to pay from is pocket.

3. No claim Bonus - In a health insurance policy when a renewal is made without any claim in preceding period of the policy than the insurance company offers a bonus to policyholder. This bonus is usually in the form of discount on premium. The discount in the range of 5% and can go up to 50% if no claim is made for 10 consecutive year.