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Punjab National Bank and Oriental Insurance launch Mediclaim policy
merisarkar news service
New Delhi, April 23, 2010
KR Kamath and Dr. RK Kaul launched the scheme
India's leading public sector bank PNB and public sector insurance companies have jointly launched a mediclaim policy on Friday. KR Kamath, CMD, Punjab National Bank and Dr. RK Kaul, CMD, Oriental Insurance Company limited were present on the occasion of distributing first policies of PNB-Oriental Royal Mediclaim Policy to customers.

PNB said in a statement, "The Bancassurance Tie-up between PNB, the Number One Nationalised Bank of the Country and OICL, a leading PSU General Insurance Co. was entered last year to achieve the twin objectives of serving the clientele and improving Bank's profitability in a competitive marketing scenario. The Tie-up began with a happy note and during first year of operations, the Co. was able to mobilize good amount of premium."

In his key note address, KR Kamath, CMD, PNB emphasized that providing of qualitative services with wide range of financial products under one umbrella is primary objective of his organization and today's launching of customized Health Insurance Product is a step forward in heading towards the ultimate goals. He expressed that the product launched today will prove a win-win situation both for customers and the Bank.

While addressing the participants, Dr. Kaul, CMD, OICL expressed satisfaction over the first year's performance of the alliance and emphasized that today's launching will extend their reach to the ?personal line insurance' needs of PNB Customers. He told the audience that the product has number of unique features e.g. Family Floater Policy covering Proposer, Spouse & 2 dependent children; Uniform Premium for all age-group persons; Entry age upto 80 years.

PNB said that the new product offering is at very attractive and at the lowest premium and the customers of PNB taking this policy will also get benefit of extra exemption under Section 80-D of the Income Tax Act.
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