Canara Bank Mediclaim (Apollo Munich Easy Group health Insurance) – Review

Canara bank mediclaim
3 (60%) 2 votes

In the series of reviewing health insurance policies offered by nationalized banks, the next one is Canara bank Mediclaim. I have already reviewed PNB oriental Royal Mediclaim,  and AB Arogyadan which you can read from here.

The Canara policy is a private policy in a public package. Yes, the insurer in case of Canara bank Mediclaim is the private health insurer, Apollo Munich health insurance. Apollo is offering an almost similar policy to its retail customers, but the one offered through group insurance to Canara bank account holders is at very competitive rates.

Today, I will review Canara Apollo Munich health insurance policy in detail, and also do a comparative analysis to what is available otherwise to its retail clients.

Canara bank Mediclaim – In Brief

Canara bank in collaboration with private health insurer Apollo Munich health insurance is offering the Easy health group insurance plan to its customers (Account holders). The only precondition before buying this product is that you should be having a bank account at Canara bank.

The USP of this policy is that the premium is quite competitive as compared to its similar product as available in the market for Apollo’s customers, with almost same or better features.

Besides this, the premium is flat for all age groups, unlike the retail policy where the premium rate varies for different age group.

You may also buy this policy for your parents or Parents-in-laws too, and their account is not a prerequisite in this case if you are an account holder. (Also Read: Mediclaim policy for parents – other options)

I am always wary of the service quality of nationalized health insurers, and this was one of my big concerns when I reviewed PNB Oriental Royal Mediclaim, but since here in Canara bank Mediclaim the insurer is Apollo Munich which is a private health insurer, so this becomes another attraction in this policy.

Canara bank Mediclaim – Basic features

(in comparison to Apollo Munich Easy health Insurance)

Canara bank mediclaim
*Dependent child can be covered from 91 days to 5 years of age, if either of the parents is covered in this policy; No specific parents policy, however, one may add parents or parents in laws in a floater policy, or an individual below 65 years of age can him/herself buy this policy.

Canara bank Mediclaim – Key Policy benefits

(in comparison to Apollo Munich Easy health Insurance)

canara bank mediclaim
*Standard/Exclusive/Premium; **In Exclusive and Premium variants

Canara bank Mediclaim – Premium rates

canara bank mediclaim premium rates

canara bank mediclaim premium rates

All the above-mentioned rates are flat rates and not linked to any age slabs. Whereas if you buy directly from Insurer than rates are quite high. For e.g. for a 50-year-old healthy individual, wanting to buy sum assured of Rs 10 lakh, have to shell Rs 8692/- to Canara Apollo Munich health insurance, and Rs 19039/- for standard variant to directly Apollo Munich health Insurance. (Click here to check out Apollo Munich Easy health’s rate card)

Canara bank Mediclaim – Should you buy?

Well, I have not found anything negative in Canara Apollo Munich Mediclaim policy. Though it doesn’t have high-end features of Air ambulance or additional feature of maternity benefit which the retail version offers, but as far as basic Mediclaim policy is concerned, which covers In house treatment, day care surgeries, Pre and Post hospitalization etc. and that too with no cappings, sub-limits or copayments, all are available here.

The Maximum Sum assured available is also quite decent, and one can buy Super top up policy separately to enhance the cover if required. (Read: Apollo Munich super top up review)

But as I wrote earlier in my last review, in group policies offered by nationalized banks, do not expect any services from bank people as they are just acting as an intermediary. If you buy this policy, then you have to equip yourself with knowledge of the necessary processes for smooth issuance of policy and claim settlement. Also, do not take flat rates as really flat ones, since it all depends on the claim experience of the insurer and also the relation between bank and Insurer. Even group policy rates can change in future.

How do you find Canara Apollo Munich health insurance policy? Do share your views


  1. Really have a very good one insurance policy from apollo munich general insurance company ltd. The policy covers maximum expenditure and the claims are easy to get due to fast service provided by the executives. Renewals are easy and updates are mailed regularly to my email address.

  2. Can i convert my existing personal policy from apollo munich to this group policy with continuation benefit?? I m 60 years are premiums are rising exponentially with age. Also if i take this policy can i convert to individual policy of apollo??

    • You cannot Port in your existing policy into this canara apollo plan. You have to buy it afresh, which means that all the waiting periods will start from scratch. So better to avoid this.

  3. Hello Mr Singal
    Thanks for such a good review on Canara Apollo Munich group Policy…. Can I port this group policy from Canara Bank to an individual family floater one in the future.
    Also can you please share your viewpoints regarding Bank of India National Swasthya Bima policy.

  4. Canara bank also offers a similar policy in tie up with united india, if am not mistaken ? I was thinking of taking that. Could any one please tell me which is better?

  5. which is better among canara+apollo mediclaim or canara +united india mediclaim for entire family including patents ( uper age is 68 years) .what shoud be policy rules for patient with chronic higher
    tension (blood pressure ) ?

    • I have not gone through Canara United yet. But, i believe one should have a decent cover first. We tend to waste the crucial time while searching for better. There should not be much of difference in the policy basic features. So whichever policy you are comfortable with…get yourself a cover first.

  6. Can I port my pnb oriental group policy to Canara Apollo policy and get all benefits of carry forward of waiting periods for all diseases. I now have diabetes.


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