Canara Bank Health Insurance Policy – Features, Premium Chart & Benefits Review

Canara Bank is offering a health insurance policy in association with Bajaj Allianz – Amalgamated entity Canara Bank along with erst while Syndicate Bank has discontinued the Synd Arogya healthcare policy and offering another similar policy with Bajaj Allianz insurance company. Though the features of the new healthcare policy is similar to earlier Synd Arogya Policy which was offered in association with M/S United India Insurance Company Limited (UIICO) but comparatively at higher premium. Synd arogya policy was discontinued since 1st April 2020. Syndicate Bank had issued a public notice in this regard on their website here .

Read- Steps to Renew the Synd Arogya Policy Online

Canara Bank Health Insurance Policy – Features offered by Bajaj Allianz

Sum Insured options50K/1/1.5/2/2.5/3/3.5/4/4.5/5 Lakhs
Plan TypeFloater
Family definitionSelf/Spouse/Dependent Children/Dependent Parents or Parents-in-law
Entry Age eligibility Adult18 to 65 yrs
Entry Age eligibility Child91 days to 25 yrs
Renewal Age eligibilityLifetime
Room Rent sub limitActual
ICU Sub limitActual
Day Care procedures182 Daycare procedures covered
Pre policy medical testNA
Pre hospitalization60 Days
Post hospitalization90 Days
Ambulance expensesUp to Rs. 1000 per policy period
Health Checkup1% of Sum Insured after 3 claim free years
Daily cash allowanceOnly for single parent/Guardian accompanying an insured child below the age of 12 years
Maternity expensesUp to 5% of Base Sum Insured
New born baby coverCovered as part of Maternity Expense
Funeral ExpenseUp to Rs. 1000 per policy period
Policy period1 year
PED waiting period36 months
Specific diseases waiting period24 months
9 Specified disease waiting period48 months
Maternity waiting period9 months
30 days waitingYes
Personal Accident Rider (Accidental Death Only)Covered

Canara Bank Health Insurance Policy – Premium Payment Rate Chart for Bajaj Allianz Health Insurance Policy

PLAN – A ( 1+3) [Self+spouse+2 dependent children] , GST Included

Sum InsuredPremium
Rs 50,000 Rs 3859
Rs 1,00,000Rs 7458
Rs 150000Rs 10932
Rs 200000Rs 14075
Rs 250000Rs 16827
Rs 300000Rs 19675
Rs 350000Rs 22130
Rs 400000Rs 24594
Rs 450000Rs 27061
Rs 500000Rs 29522

Canara Bank Health Insurance Policy 

PLAN – B ( 1+5) [Self+spouse+2 dependent children and parents / Parents in law] , GST Included

Sum InsuredPremium
Rs 50,000 Rs 6442
Rs 1,00,000Rs 12451
Rs 150000Rs 18237
Rs 200000Rs 23465
Rs 250000Rs 28115
Rs 300000Rs 32767
Rs 350000Rs 36849
Rs 400000Rs 40933
Rs 450000Rs 45019
Rs 500000Rs 49103

The policy offered by Canara Bank is good but the premium is very high as compare to other companies in the market. 

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