diff --git a/stable/prometheus-cloudwatch-exporter/Chart.yaml b/stable/prometheus-cloudwatch-exporter/Chart.yaml
index 5e8f5cf8a1..c9307a2983 100644
--- a/stable/prometheus-cloudwatch-exporter/Chart.yaml
+++ b/stable/prometheus-cloudwatch-exporter/Chart.yaml
@@ -1,8 +1,8 @@
 apiVersion: v1
-appVersion: "0.1.0"
+appVersion: "0.5.0"
 description: A Helm chart for prometheus cloudwatch-exporter
 name: prometheus-cloudwatch-exporter
-version: 0.1.4
+version: 0.2.0
 home: https://github.com/prometheus/cloudwatch_exporter
 sources:
 - https://github.com/prometheus/cloudwatch_exporter
diff --git a/stable/prometheus-cloudwatch-exporter/README.md b/stable/prometheus-cloudwatch-exporter/README.md
index e67ebc1694..f9f9d49618 100644
--- a/stable/prometheus-cloudwatch-exporter/README.md
+++ b/stable/prometheus-cloudwatch-exporter/README.md
@@ -46,7 +46,7 @@ The following table lists the configurable parameters of the Cloudwatch Exporter
 |          Parameter          |                      Description                       |          Default           |
 | --------------------------- | ------------------------------------------------------ | -------------------------- |
 | `image.repository`          | Image                                                  | `prom/cloudwatch-exporter` |
-| `image.tag`                 | Image tag                                              | `latest`                   |
+| `image.tag`                 | Image tag                                              | `cloudwatch_exporter-0.5.0`                   |
 | `image.pullPolicy`          | Image pull policy                                      | `IfNotPresent`             |
 | `service.type`              | Service type                                           | `ClusterIP`                |
 | `service.port`              | The service port                                       | `80`                       |
@@ -64,7 +64,8 @@ The following table lists the configurable parameters of the Cloudwatch Exporter
 | `tolerations`               | Add tolerations                                        | `[]`                       |
 | `nodeSelector`              | node labels for pod assignment                         | `{}`                       |
 | `affinity`                  | node/pod affinities                                    | `{}`                       |
-
+| `livenessProbe`             | Liveness probe settings                                |                            |
+| `readinessProbe`            | Readiness probe settings                               |                            |
 
 Specify each parameter using the `--set key=value[,key=value]` argument to `helm install`. For example,
 
diff --git a/stable/prometheus-cloudwatch-exporter/templates/deployment.yaml b/stable/prometheus-cloudwatch-exporter/templates/deployment.yaml
index f1f18ece5c..144a0d02ac 100644
--- a/stable/prometheus-cloudwatch-exporter/templates/deployment.yaml
+++ b/stable/prometheus-cloudwatch-exporter/templates/deployment.yaml
@@ -53,12 +53,22 @@ spec:
               protocol: TCP
           livenessProbe:
             httpGet:
-              path: /
+              path: /healthy/
               port: http
+            initialDelaySeconds: {{ .Values.livenessProbe.initialDelaySeconds}}
+            periodSeconds: {{ .Values.livenessProbe.periodSeconds }}
+            timeoutSeconds: {{ .Values.livenessProbe.timeoutSeconds }}
+            successThreshold: {{ .Values.livenessProbe.successThreshold }}
+            failureThreshold: {{ .Values.livenessProbe.failureThreshold }}
           readinessProbe:
             httpGet:
-              path: /
+              path: /ready/
               port: http
+            initialDelaySeconds: {{ .Values.readinessProbe.initialDelaySeconds}}
+            periodSeconds: {{ .Values.readinessProbe.periodSeconds }}
+            timeoutSeconds: {{ .Values.readinessProbe.timeoutSeconds }}
+            successThreshold: {{ .Values.readinessProbe.successThreshold }}
+            failureThreshold: {{ .Values.readinessProbe.failureThreshold }}
           resources:
 {{ toYaml .Values.resources | indent 12 }}
           volumeMounts:
diff --git a/stable/prometheus-cloudwatch-exporter/values.yaml b/stable/prometheus-cloudwatch-exporter/values.yaml
index 68dda8c242..bb986cfdf6 100644
--- a/stable/prometheus-cloudwatch-exporter/values.yaml
+++ b/stable/prometheus-cloudwatch-exporter/values.yaml
@@ -6,7 +6,7 @@ replicaCount: 1
 
 image:
   repository: prom/cloudwatch-exporter
-  tag: latest
+  tag: cloudwatch_exporter-0.5.0
   pullPolicy: IfNotPresent
 
 service:
@@ -81,3 +81,18 @@ nodeSelector: {}
 tolerations: []
 
 affinity: {}
+
+# Configurable health checks against the /healthy and /ready endpoints
+livenessProbe:
+  initialDelaySeconds: 30
+  periodSeconds: 5
+  timeoutSeconds: 5
+  successThreshold: 1
+  failureThreshold: 3
+
+readinessProbe:
+  initialDelaySeconds: 30
+  periodSeconds: 5
+  timeoutSeconds: 5
+  successThreshold: 1
+  failureThreshold: 3