PNB Health Insurance Floater Policy Details


Health Insurance is more of a necessity in terms of security as any hospitalization due to a major illness or an accident can expose any person to loose his hard earned savings.

With the objective of protecting customers interest and to achieve our vision of providing entire range of financial products and services to our customers under one roof, the Bank has launched a Customised Group Health Product “PNB-ORIENTAL ROYAL MEDICLAIM POLICY” under our “Referral Arrangement” Bancassurance Tie-up with Oriental Insurance Co. Ltd.(OICL). The Product has been got designed exclusively for PNB Customers and only the A/c Holders of PNB will be eligible to take cover under the Scheme.

The product will be available in all PNB Branches across the country. The Salient Features of the Product are as under:

  • All customers (depositors as well as borrowers) of the Bank shall be eligible to take cover under the Scheme.
  • It is a family floater Scheme, which covers the Entire Family i.e. Proposer, Spouse & 2 dependent children (Female dependent child until she is married & Male dependent child upto the age of 26 years, provided he is bonafide regular student). Floater Sum Insured shall mean a single sum insured, under the policy for all the family members named therein. It is the maximum sum payable under the policy for any hospitalization claim covered in respect of any one insured person or all the insured persons in the family jointly.
  • Age Group covered: 3 months to 80 years. No Medical Examination is required for entry at any stage.
  • Cashless facility is available at a large Net Work of Hospitals. The policy will be serviced by TPAs (Third Party Administrators).
  • The Premium is much lower and quite comparable with all available health insurance products in the market.
  • Uniform Premium for persons of all age-groups upto 80 years’ age.
  • The validity of the cover will be for one year and renewable as per Terms & Conditions given in the Prospectus. The Scheme is effective w.e.f. 23-04-2010.
  • Cover available for Minimum Sum Insured of Rs.1 Lac, upto Rs. 5 Lac, in multiple of Rs.1.00 Lac. The Premium Structure (Inclusive of Service Tax) is as under:
  • IT EXEMPTION: The premium paid under the policy through Cheuqe is eligible for Income Tax exemption under Section 80-D of the Income Tax Act.

Other benefits such as Ambulance Charges, Cost of Health Check-up, Hospital Cash etc. also available under the Scheme.

No Service charges are being recovered by the Bank, from customers, for providing above intermediary services. However, a nominal amount in the shape of Referral Fee is being received by the Bank from the concerned Insurance Cos. as per guidelines issued by the Insurance Regulatory & Development Authority (IRDA).

For more details please visit any nearest PNB branch.

  • Insurance is a subject matter of solicitation and the Policy is issued, based
    on contract between the Insured & Insurer
  • Participation by customers is on voluntary basis.
  • The contract will be between Insured & Insurer and not between Insured
    & the Bank.

Download PNB -Oriental Royal MEDICLAIM Prospectus and Proposal

Interested In Other Health Insurance Options, Click Here