Mr. Sharma,
Lets understand this by way of an example:
Say from 2007 to 2010 one has taken S.I. of Rs. 2lakhs vide mediclaim policy as under:-
2007 S.I. Rs. 2,00,000.00
2008 S.I. Rs. 2,00,000.00
2009 S.I. Rs. 2,00,000.00
2010 S.I. Rs. 2,00,000.00
and has not made any claim during such period; i.e in 2011, after completion of 4 claim free years the insured would be eligible to claim for reimbursement of medical check-up maximum upto 1% of Avg. S. I. or the actual amount which ever is lower.
The calculation for the same in the instance case would
be = Rs. 2,000/- {(2,00,000 X 4 / 4) X 1/100 }.
