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Overview

PNB MetLife Insurance: Overview

PNB MetLife Insurance commenced its operations in 2001. The company follows a philosophy called 'Circle of Life' for its products and solutions, catering to customers' financial requirements across four key life stages: children's education, family protection, long-term savings, and retirement.

PNB MetLife is a joint venture between MetLife International Holdings LLC (MIHL), Punjab National Bank Limited (PNB), Jammu and Kashmir Bank Limited (JKB), M. Pallonji and Company Private Limited, and other private financial backers, with MIHL and PNB being the majority shareholders.

The company boasts a robust operating network through multi-channel distribution, including bancassurance, agency, and direct channels. PNB MetLife is present in 117 locations across the country, providing access to over 206 million customers in 15,000 locations through strong bank partnerships with PNB, JKB, KBL, and other bank partners.

PNB MetLife Insurance caters to your insurance needs by offering:

  • Variety of plans
  • Multiple options to purchase
  • Affordable premiums
  • Good customer support
  • Tax benefits
COMPANY DETAILS ✎ Edit

Pnb Metlife

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Icici Ulip Plans
Rating
Number of life insurance plans and add-ons
Annual Premiums Collected (2024-25)

Annual Premiums Collected (2024-25)

₹ 7552.39 crores

Annual Premiums Collected (2024-25)

₹ Rs 1 lakh to No limit
Payout Options

Payout Options

Lump sum, regular frequencies or a combination of both

Payout Options

-
Claim ratio

Payout Options

99.57%%

Payout Options

Minimum Age- 14 year%
Solvency Ratio

Solvency Ratio

1.72

Solvency Ratio

70 years
Pan India Presence

Pan India Presence

15000+

Pan India Presence

Annual, half-yearly,
Riders Available

Riders Available

Accidental Death Benefit Rider Plus, Serious Illness Rider, Accidental Disability Benefit Rider, Critical Illness Rider, Group Accidental Permanent and Total Disability Plus, Group Accidental Permanent and Partial Disability Plus, Group Illness Serious

Riders Available

10 to 30 years
Policy Term

Policy Term

5 to 40 years

Policy Term

10 to 30 years
Inception year

Inception year

-

Inception year

-
Complaint ratio per ₹1 crore of premium collected

Complaint ratio per ₹1 crore of premium collected

-

Complaint ratio per ₹1 crore of premium collected

-
Average claim settlement time

Average claim settlement time

-

Average claim settlement time

-
IRDAI registration number

IRDAI registration number

-

IRDAI registration number

-
Awards and recognitions

Awards and recognitions

-

Awards and recognitions

-

Riders

Riders You Can Avail With PNB MetLife Life Insurance Plans

Name of the Rider Benefits
PNB MetLife Accidental Death Benefit Rider This rider provides an additional amount in case of the policyholder's unfortunate death due to an accident.
PNB MetLife Terminal Illness Rider This rider offers additional benefits if the policyholder is diagnosed with any terminal illnesses mentioned in the brochure.
PNB MetLife Waiver of Premium Rider This rider ensures that future premiums are waived in case of total and permanent disability of the life assured. This benefit can be purchased by paying a nominal extra premium over the base premium.
PNB MetLife Critical Illness Rider This rider provides an additional payout upon diagnosis of any of the 10 critical conditions mentioned in the policy document. It acts as an additional health cover under the base policy, with flexible rider term and sum assured options to suit your needs.
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Expert Reviewed

Reviewed By: Naval Goel

Naval Goel has over a decade of expertise in the insurance sector, having worked with companies like AIG, New York. He is an Associate Member of the Indian Institute of Insurance, Pune, and is authorized by IRDAI to act as Principal Officer of PolicyX.com Insurance Web Aggregator.

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