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

Canara Bank Health Insurance Policy

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

Features Particulars
Sum Insured options 50K/1/1.5/2/2.5/3/3.5/4/4.5/5 Lakhs
Plan Type Floater
Family definition Self/Spouse/Dependent Children/Dependent Parents or Parents-in-law
Entry Age eligibility Adult 18 to 65 yrs
Entry Age eligibility Child 91 days to 25 yrs
Renewal Age eligibility Lifetime
Room Rent sub limit Actual
ICU Sub limit Actual
Day Care procedures 182 Daycare procedures covered
Pre policy medical test NA
Pre hospitalization 60 Days
Post hospitalization 90 Days
Ambulance expenses Up to Rs. 1000 per policy period
Health Checkup 1% of Sum Insured after 3 claim free years
Daily cash allowance Only for single parent/Guardian accompanying an insured child below the age of 12 years
Maternity expenses Up to 5% of Base Sum Insured
New born baby cover Covered as part of Maternity Expense
Funeral Expense Up to Rs. 1000 per policy period
Policy period 1 year
PED waiting period 36 months
Specific diseases waiting period 24 months
9 Specified disease waiting period 48 months
Maternity waiting period 9 months
30 days waiting Yes
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 Insured Premium
Rs 50,000  Rs 3859
Rs 1,00,000 Rs 7458
Rs 150000 Rs 10932
Rs 200000 Rs 14075
Rs 250000 Rs 16827
Rs 300000 Rs 19675
Rs 350000 Rs 22130
Rs 400000 Rs 24594
Rs 450000 Rs 27061
Rs 500000 Rs 29522

Canara Bank Health Insurance Policy 

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

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