PNB Health Insurance Review

Hello sir I am Nilesh and I am here as I want to know about the Salient Features of the Punjab National Bank Health Insurance Floater Policy so will you please tell me about this??

[Shaleen]

Punjab National Bank is an Indian multinational banking and financial services company. It is a state-owned corporation based in New Delhi, India. Founded in 1894, the bank has over 6,300 branches and over 7,900 ATMs across 764 cities.

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.

Salient Features of the Health Insurance Floater Policy 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

-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.