Bank of Baroda Health Insurance: Partners, Benefits and Risks Explained

Many people prefer buying health insurance through their bank because it feels simple and familiar.

But the way bancassurance  works is slightly different from what most buyers assume, especially when it comes to underwriting and claims.

If you’re considering a health insurance plan offered through Bank of Baroda, this article will help you understand how the model works, which insurers the bank partners with, and what to keep in mind before choosing a policy.

Bank of Baroda Health Insurance: Key Details

Bank of Baroda (BoB), one of India’s leading public-sector banks, also acts as a Corporate Agent under IRDAI’s bancassurance framework.

It is registered with IRDAI as Corporate Agent (Licence No. CA0004), which authorises it to distribute health insurance plans designed and issued by insurance companies.

So, the bank does not design health insurance policies or underwrites risk. Its role is limited to helping you buy a policy and forward your application to insurers.

All underwriting, policy terms, and claim decisions are handled entirely by the insurer issuing the policy. So any support provided by the bank during purchase or documentation is administrative in nature.

Which Health Insurers Partner With Bank of Baroda?

Here are the insurers whose health plans you can buy through Bank of Baroda:

1. Standalone Health Insurers

These companies specialise solely in health insurance:

• Star Health & Allied Insurance
• Niva Bupa Health Insurance Company Limited

2. General Insurers That Also Offer Health Plans

These insurers offer health insurance along with motor, travel, and other general insurance products:

• National Insurance Company Limited
• Tata AIG General Insurance
• Cholamandalam MS General Insurance

If you buy a policy through Bank of Baroda, the insurance contract is issued by the respective insurer, not by the bank.

Popular Health Insurance Plans Available Through Bank of Baroda

01

Star Health & Allied Insurance:

Frequently offered plans include Family Health Optima, Comprehensive Health Insurance, Senior Citizens Red Carpet Health Insurance, Diabetes Safe Insurance, and Super Surplus (Top-up) Insurance.

02

Niva Bupa Health Insurance:

Common plans include ReAssure 2.0 , Health Companion, and Super Protect Plus, known for strong restorations, family coverage, and modern treatment benefits.

03

General Insurer Plans through BoB:

Bank of Baroda also distributes health insurance plans from general insurers such as National Insurance (Arogya Sanjeevani, Senior Citizen Mediclaim), Tata AIG, and Chola MS. These plans combine broad coverage with the wider product offerings of general insurers.

Pros of Buying Health Insurance via Bank of Baroda

01

Access to Established Insurers

Bank of Baroda Health Insurance partners with established insurers that have strong operational and financial track records.

02

Convenience

Many customers appreciate the ease of buying a policy directly at their bank.

03

Single Point of Contact

The bank acts as the main contact during purchase, which can feel reassuring, especially for first-time buyers who prefer guided support rather than researching multiple insurers on their own.

Things to Keep in Mind While Buying Health Insurance Through Any Bank

1. Availability of Options: Since a Corporate Agent (CA) has limited tie-ups (up to 9), you only see products from those partnerships.

This means you may not get exposure to the entire insurance options or newer products available elsewhere. This is not a drawback of any specific bank, rather it’s simply how the CA model is structured under IRDAI rules.

2. Bank ≠ Insurer: Many customers mistakenly assume the bank is responsible for their policy and claim payouts. The insurance company handles all underwriting, policy terms, approvals, and claim decisions.

The bank is only the distributor and has no legal authority to influence a claim approval or rejection.

3. Claim Support: Bank staff are trained to assist with the policy purchase process but are not specialized claim handling professionals. During an emergency, their support could be limited to helping you connect with the insurer.

They might not provide dedicated, end-to-end guidance, claim escalation, or coordination with the hospital, which is vital during a critical situation.

4. Documentation: Forms could sometimes be filled quickly amid fast-paced branch sales, and customers may sign without reviewing every medical detail. However, even an unintentional omission can lead to complications during claims.

To avoid this, it is advisable to fill your medical declarations yourself or go through them carefully before the purchase.

5. Suitability Checks: Health insurance suitability depends on multiple factors: age, existing conditions, lifestyle, preferred hospitals, employer coverage, maternity needs, and more.

Because bank discussions are often brief and geared towards product explanation rather than detailed assessment, these nuances may not always be explored.

As a result, the plan recommended might look good on paper but may not fully align with your long-term requirements.

6. Group Health Plans: Some banks may offer group health policies specifically for account holders. These plans are tied to the bank’s agreement with the insurer.

These plans can be affordable and convenient, but their continuity depends entirely on the bank’s partnership with the insurer. If the agreement changes or is discontinued, the policy terms, pricing, or availability may shift at renewal.

While such plans can be useful for short-term protection or supplementary cover, they may not provide the long-term certainty that retail individual policies offer.

How Bank of Baroda Earns Revenue on Health Insurance?

Bank of Baroda earns commissions or fee income from insurers for distributing their health insurance plans. This revenue is governed entirely by IRDAI’s Expenses of Management (EoM) and commission regulations, not by any extra fee you pay.

A few things you should know:

• Your premium remains the same regardless of the commission; the bank doesn’t add any extra fee. 
• Pricing is standardized by IRDAI, though minor channel-specific discounts may exist.

For transparency, Bank of Baroda also publishes its annual commission earnings in an official commission disclosure document.

Why Choose Ditto for Health Insurance?

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Bank of Baroda Health Insurance (Ditto’s Take)

If you’re considering a health plan through Bank of Baroda, make sure you understand how these offerings work.

The bank sources policies from a limited set of partner insurers, and some of these products, especially group plans, exist because of specific partnerships.

These agreements can evolve over time, which means the availability or terms of certain group policies may change. This isn’t inherently a disadvantage, but simply a feature of how bank-linked and group health insurance products function.

Ditto, too, is an IRDAI-licensed Corporate Agent (Licence No. CA0738). Insurance is our primary business, and our work centres on suitability checks, long-term servicing, documentation support, renewals, and claims assistance.

This ensures you get help not just while buying a policy, but throughout its entire lifetime.

If you want clarity before choosing a plan, whether from a bank or directly from an insurer, you can always speak to a Ditto expert for free, personalised guidance.