Money & Banking

IOB, Apollo Munich join hands to offer health, accident insurance

Our Bureau Mumbai | Updated on January 24, 2018 Published on February 19, 2015

Indian Overseas Bank (IOB) and Apollo Munich Health Insurance today announced that they are joining hands to provide specialised health and personal accident products to Indian Overseas Bank customers. Through this arrangement, IOB will sell Apollo Munich’s products in over 3,350 branches across the country, the companies said in a release issued today.

Apollo Munich will offer customised products with a sum insured ranging from Rs 3 lakh to Rs 10 lakhs. IOB customers would be able to enjoy policies without any sub limits or co pay clauses, inbuilt accidental covers, etc. The health policy offers double sum insured with the same premium for claims related to listed critical illnesses up to Rs 5 lakh and an annual health check-up benefit worth Rs 3,500 for sum insured of Rs 7.5 lakh to Rs 10 lakh. The health policy will be handed over to the customer on the spot in the respective branches of IOB.


Indira Padmini, General Manager – Retail Banking and Marketing, Indian Overseas Bank said, "This partnership with Apollo Munich will provide our customers with innovative and specialised health insurance plans.”

 Antony Jacob, CEO, Apollo Munich Health Insurance said, “By partnering with Indian Overseas Bank under Stand Alone Insurance model, we aim to deepen our reach across the country. We have designed customised products for Indian Overseas Bank customers according to their needs. I am confident that Apollo Munich’s association with the Indian Overseas Bank will enable the bank to offer well researched, unique and customer-friendly products to its customers.”

Published on February 19, 2015
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