Apollo Munich offers comprehensive health cover to Canara Bank Cutomers

Health Insurance provider, Apollo Munich Health Insurance said that it has revamped and upgraded its health insurance offerings for Canara Bank customers. The plan has been designed to include benefits to address the growing concerns of healthcare incidents, rising healthcare costs and to encourage people to stay healthy.

The comprehensive cover will offer double sum insured for cancer treatment to cover the related treatment expenses. Other benefits offered include 100% restoration of sum insured if used within the policy term, no-claim bonus for leading a healthy life, daily hospital cash up to Rs. 1000 upon hospitalization to cover expenses not offered under the regular health insurance plan and annual health check-ups to uncomplicate wellness offerings for health insurance customers. The number of daycare procedures has also been increased from 140 to 182.

Antony Jacob, CEO, Apollo Munich Health Insurance said, "In order to offer a comprehensive health cover to Canara Bank’s customers, we have enhanced the existing plan to support them in both illness and wellness. India is likely to have over 17 lakh new cases of cancer by 2020. Due to improved technology and newer drugs, the cost of cancer treatment is increasing exponentially and hence becoming unaffordable for many. Offering a double sum insured upon the diagnosis of cancer is a way to reduce the agony of the family in an unfortunate event. We have also observed that most customers are worried about utilizing the entire sum insured in the middle of their policy period. As a result, we have added the benefit of sum insured restoration - which has become a norm in most retail health insurance policies today. The daily hospital cash limit that has been added helps to offset any unforeseen emergencies that may not be covered under one’s regular health insurance policy. Regular health check-ups help policyholders to not take any chances with their health. For those customers who remain healthy and do not claim at all during the policy period, we are immensely pleased to offer a no claim benefit that can double their sum insured and help them enjoy higher coverage in the future."

He added, "We began our bancassurance journey with Canara Bank four years ago and it is very encouraging to see them migrate from a mass offering to a more refined comprehensive product that has been developed for their customers’ changing needs. We eagerly look forward to a continued partnership where we uncomplicate health insurance for all their customers and offer access to quality healthcare facilities without having to worry about the medical costs."

Apollo Munich has also increased the number of critical illnesses covered under its Critical Illness Rider from 8 to 12 ailments.