Quick Overview
Trust is one of the most important factors while deciding where to purchase their health insurance from. For many people, that place is their bank. While this route may appear straightforward, bank-distributed insurance operates under a bancassurance setup that has a few nuances most buyers are often not aware of.
If you are looking at a PNB health insurance policy, this article walks you through how the model functions, which insurers it partners with, and what you should keep in mind before finalising a policy.
PNB Health Insurance: Overview
PNB, being a major public sector bank, works as a corporate agent recognised by the IRDAI, which authorises it to distribute health insurance plans designed and issued by insurance companies.
In this setup, PNB does not create health insurance policies or take on any risk. Its role is mainly to help you apply for a policy and pass your details to the insurer. Everything that truly matters, like underwriting, policy terms, and claim decisions, is handled entirely by the insurance company that issues the policy. Any help you receive from the bank during purchase or paperwork is purely administrative in nature.
Top Health Insurers Partnered With PNB
Here are the insurers whose health plans you can buy through PNB:
Standalone Health Insurers
These companies specialise solely in health insurance:
General Insurers That Also Offer Health Plans
These insurers offer health insurance along with motor, travel, and other general insurance products:
If you buy a policy through PNB, the insurance contract is issued by the respective insurer, not by the bank.
Popular Health Insurance Plans Available Through PNB
While availability can vary by branch and insurer tie-ups, customers usually come across the following health insurance options through PNB:
Star Health & Allied Insurance
Commonly offered plans include Family Health Optima, Comprehensive Health Insurance, Senior Citizens Red Carpet Health Insurance, Diabetes Safe Insurance, and Super Surplus Gold Super Top-up Insurance.
Care Health Insurance
Popular options include Care Supreme, Care Ultimate, and Care Supreme Enhance super top-up. These plans are known for features like high bonuses, restoration benefits, coverage for modern treatments, and high level of customisability.
General Insurer Plans
PNB also distributes health insurance products from general insurers such as Oriental Insurance (Happy Family Floater Policy and Oriental Mediclaim Insurance Policy), Bajaj general, and Chola MS.
Note: The plans available through PNB depend on insurer partnerships, branch availability, and active campaigns. Always check with your local PNB branch for the most up-to-date options before making a decision.
Pros of Buying Health Insurance via PNB
- Single Point of Contact
At the time of purchase, the bank serves as the primary touchpoint. This can be comforting for first-time buyers who prefer hand-holding over comparing multiple insurers on their own. - Convenience
Buying health insurance through your bank feels straightforward and familiar for many customers. - Access to Established Insurers
PNB works with reputed insurers that have proven operational strength and financial stability. - Trust
As a government-backed bank, PNB enjoys a high level of trust among millions of customers who already rely on it for their banking needs.
Things to Keep in Mind While Buying Health Insurance Through Any Bank
Claim Support
Bank staff are trained to help with policy purchase, not complex claim handling. In an emergency, their role may be limited to connecting you with the insurer, without end-to-end claim guidance, escalation, or hospital coordination.
Group Health Plans
Banks sometimes offer group health policies for account holders. While these can be affordable and convenient, the terms and pricing depend entirely on the bank-insurer agreement. While okay for the short-term, it may lack the stability of individual retail policies.
Bank ≠ Insurer
Many buyers assume the bank is responsible for the policy and claim payout. In reality, the insurer alone handles underwriting, policy terms, and claim decisions. The bank is only a distributor and has no authority over claim approvals or rejections.
Documentation
In a fast-paced branch environment, forms may be completed quickly and signed without a detailed review. Even minor omissions can create claim issues later. It is safer to fill in medical details yourself or review them carefully before signing.
Suitability Checks
Health insurance suitability depends on factors like age, health history, lifestyle, hospital preferences, and future needs. Since bank interactions are often brief and product-focused, these details may not be fully assessed.
How PNB Earns Revenue as a Corporate Agent for Health Insurance
PNB earns commission or fee income from insurers for distributing their health insurance plans. This income is regulated by IRDAI’s Expenses of management and commission guidelines, not through any additional charges to you.
Note:
- Your premium stays the same, as the bank does not add any extra fee for distribution. The distribution fee is largely standardized by IRDAI, although small channel-specific discounts may sometimes apply.
- For transparency, PNB discloses its annual commission earnings in an official commission disclosure report.
Comparison: Buying Health Insurance From PNB vs Directly From Insurers
The difference between buying a health insurance plan through an intermediary versus directly from the insurer is subtle but important. While the premium is usually the same, the real difference often shows up when you actually need support.
A reliable intermediary can provide hand-holding not just during purchase, but also during claims or when you need to make changes to the policy. Buying directly from the insurer does not offer any special advantage beyond the insurer’s own support systems.
That’s why it’s important to evaluate the quality of support, whether from an intermediary or the insurer, before deciding where to buy your policy.
Why Choose Ditto for Health Insurance?
At Ditto, we’ve assisted over 8,00,000 customers with choosing the right insurance policy. Why customers like Abhinav below love us:
- No-Spam & No Salesmen
- Rated 4.9/5 on Google Reviews by 15,000+ happy customers
- Backed by Zerodha
- 100% Free Consultation
You can book a FREE consultation. Slots are running out, so make sure you book a free call or chat over WhatsApp with a Ditto advisor.
Ditto’s Take on PNB Health Insurance
If you’re considering a health plan through PNB, it’s important to understand how these offerings work. The bank distributes policies from a limited set of partners by specific tie-ups. Since these agreements can change over time, the availability or terms of certain plans, especially group policies, may also change. This is not a drawback, just how bank-linked and group health insurance plans are structured.
Always compare all options available in the market, and read the policy and intermediary’s terms in detail to make sure there are no surprises in the future.
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