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PNB Sells 2220 Mediclaim Policies

The Tiruchi circle of Punjab National Bank has sold over 2,200 mediclaim policies and occupied the second place amongst the different circles of the bank. According to the bank's Trichy Circle Head and DGM, Mr S.M. Veerappan, the policy found wide acceptance from educational institutions and industries. PNB has tied up with Oriental Insurance Company for sale of OICL Mediclaim policies. The scheme was launched early this fiscal. “It is a special mediclaim policy providing cover for persons between three months and 80 years. The premium is a little over Rs 1,700 for cover of Rs 1 lakh to Rs 6,705 for cover of Rs 5 lakh. The scheme has been specially designed for customers of PNB only,” he added. At a function organised in Tiruchi , the bank felicitated the best performers of PNB under the scheme.

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Get Ready for Medical Insurance Portability

Health insurance policy holders, dissatisfied with the service of their insurer, can switch to another company and carry with them their track record and noclaim bonuses.

The IRDA on Tuesday issued final guidelines which gives insurance companies directions on portability. In terms of the guidelines, a policyholder will have to approach an insurer 45 days before his policy with the old insurer expires, to enable the new company consider his application.

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