PNB Oriental Royal Mediclaim Policy – Review

pnb oriental royal mediclaim
Health Insurance

Health Insurance policies Offered by Nationalized banks are gaining attraction these days. The first thing which attracts most is the Low premium. Of course the cost is one of the main factors which make people thinks that they are still healthy and if they really require health Insurance coverage or not 🙂

I happened to look at few of the health insurance policies by nationalized banks, when one of my clients asked me the suitable one for his uncle and parents, and I actually find them worth considering.

Though I never advised any of my clients to buy such policies, due to presumed services issues but still for those who are finding difficulty in getting mediclaim coverage from anywhere, and are finding the market premium to be unaffordable, they can consider these policies, but only after understanding the pros and cons. Low premium should not be the only factor leads to your decision. (Read: How to select best health Insurance policy in India?)

I am going to write a series of article with detailed reviews of some of the health insurance plans being sold by nationalized banks.  This article is covering PNB Oriental royal mediclaim policy

PNB Oriental Royal mediclaim policy – In brief

Nationalized banks in tie up with general insurance companies (Nationalized/Private) have come up with special products for their customers and bank employees. These are exclusive offerings to their account holders, under group insurance scheme.

PNB Oriental Royal mediclaim is one of such product, which is offered by Punjab national bank to its customers and employees in association with Oriental Insurance Company Limited. Through this policy, account holder or employee can cover Self+Spouse+2 dependent children under family floater coverage.

PNB Oriental Royal Mediclaim policy- Key Features

pnb oriental royal mediclaim policy

PNB Oriental Royal mediclaim policy– Premium Chart

pnb oriental royal mediclaim

(Click to Download the policy document/wordings)

PNB Oriental royal mediclaim policy – Should you buy?

Well this is a decision which i have to leave with you. But let me share my observations which may help you in your decision making.

The premium rates are no doubt mouthwatering, especially when the premium rates are same for all age groups till 80 years, and market rates of individual policies are way ahead of this.

The main point to consider before deciding to buy this or not is that this is a group health policy and the result of special tie up between banks and insurer, once the tie up is over which can happen anytime and due to any reason then what would happen to existing policy holders? (Read: Mediclaim for parents – Other options)

As per IRDA guidelines existing policy holders in group policy can move to individual policy of the same insurer (Oriental in this case) and chose the policy best suitable for his needs. Of course at that time policy holder may have to manage with higher premium and different terms and conditions. However they will be offered with continued coverage i.e. they will get the credit of Preexisting and waiting periods already spent in the earlier policy.

The entry age in this policy is as far as I know is maximum in the Health insurance policies offered by nationalized banks. In fact even in individual policies, it is difficult to find policies after 65 years of age. So if you are not finding any suitable policy for your parents you may get them insured from here, by opening their bank accounts with PNB.

As banks are acting as intermediary in this case, so you will not get any Policy servicing or claim related support from them, you have to take the entire headache yourself and communicate directly with TPA and Insurance company.

Oriental being a nationalized insurer has a defined list of network hospitals, and thus there are conditions on claim repayment in case policyholder gets treatment in non-network hospitals

So as you see that there are both pros and cons while going in for PNB oriental royal mediclaim policy. If you find high pros as per your requirement and you can handle the service issue well, then you may consider going in for this policy. Else you may wait for my reviews on other such health policies being offered by banks.


  1. In PNB policy,Treatments for health complication such as aesthetic dental treatment, circumcision, eye surgery, AIDS, HTLD-III, pregnancy, obesity, non-treatment hospital visits, accident from adventure sports, massages etc. are not covered.
    My question is which bank includes above?

    • Good Point.
      ORIENTAL BANK OF COMMERCE also provides this facility to their account holder.

      Secondly, while buying policy, if you opt for TPA services then a patient can get cashless service from the hospital.

      Thirdly, if treatment is taken from government hospital or non-network hospital then patient should be ready to make rounds of TPA or Health Insurance company. In this case even the patients of highest paid premium health policy need to go number of times to TPA or office of health insurance for getting claim.

  2. I am looking for health insurance for my father in law. His age is 61 and he has undergone by-pass surgery. Could you advice any policy as I understand that many insurance companies will decline the application for pre-existing medical history. I need on a urgent basis.


    • Yeah, it would be difficult for a person to get health cover who has already got his bypass surgery done. Still, there is one policy with Star India which is specifically meant for heart patients. You may like to go through that

  3. Dear sir,
    I am krishnan, (Age 44) and I am much impressed with your article and advice.
    I need your suggestion regarding below
    For my family I have taken PNB group policy(5Lks) before 6 months. (Myself, wife, and son)
    I am personally having HDFC ERGO (Individual – Health suraksha silver – 4Lks) which completed 4 years period and which need to be renewed shortly.
    Now I need to pay premium of 12K (2 years policy)

    Moreover my company also providing me a group coverage with ICICI ( myself only)
    Can I continue this HDFC policy in future or Group policy is enough to fulfill the needs.
    Please advice.


  4. Recently premium hiked but not edited on NET

    Common man can not accept it.
    Not affordable premium.
    This is very important in our life but premium is not affordable to all income category people.VERY SORRY TO SAY BUT IT IS VERY BAD THAT PREMIUM PRICES HIKED BY 2.5 TIMES..REALLY BAD….

    • Yes, true. Premium for above 60 increased from approx 7k to 20k. with effect from April 1. Bank is looting all in the name of PSU. Better go for andhra bank or even Apollo Munich from canara even if premium is higher. At least service of apollo is good

      • You are right, but the premium to claim ratio and profitability have to be taken into consideration as well. Even I was surprised when suddenly they increased the premium from 7K to almost 20,000.
        My parents are covered in this policy for last 7 years and I have had the benefit of getting claims twice from the same policy amounting to greater than 2 lakh in last 2 years. So retrospectively it was an awesome decision to get this cover. sadly I lost my mother to illness, but for dad, I will continue with the policy for continuity benefit till they are giving this service.
        P.S. Best for people above 45 years, but not at all bad for young ones too

  5. I have one Pnb oriental health insurance policy with shibpur branch ,Howrah, WB. I wish to know the details of enhanced rate as well as any modification of policy.

    • Rate is revised from April1 renewals. For above 60 rate is 20k for 5 lacks policy. Most un-affordable policy among PSU banks. Other PSU offer larger choices at around 7.5k. Oriental have really disappointed everyone.


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