PNB Metlife Insurance
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  • Multiple pay out options
  • Waiver of premium option
PNB Metlife Life Insurance
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PNB MetLife Insurance

PNB Metlife, has become India's first insurer to launch a dental health insurance plan. PNB Metlife Insurance commenced its operations in 2001. PNB Metlife's product offerings are diverse and provide multiple insurance plans for their customers like securing your child's future, family protection plans, long-term saving plans, and retirement plans.

PNB Metlife came into existence in 2001 and continues to be profitable. A joint venture between MetLife International Holdings LLC (MIHL), Jammu and Kashmir Bank Limited (JKB), Punjab National Bank Limited (PNB), M. Pallonji and Company Private Limited, and other private financial backers, MIHL and PNB being the majority shareholders. PNB Metlife has a robust operating network through multi-channel distribution with bancassurance, agency, and direct channels; with a presence in 700 districts through a bancassurance network and 117 offices in PAN India.

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Awards and Achievements

The company has achieved several awards and accolades in recent years. Some of these recent awards are:

awards
  • Top 3 Best Term Insurance Plan award won by PNB Metlife Mera Term Plan Plus and PNB Metlife Jeevan Suraksha Plan
  • PNB Metlife Century Plan won India's Greatest Insurance Plan Award
  • PNB Metlife was awarded the Best Compliance Team 2021 Award at Compliance 10/10 symposium and awards 2021.
  • Best Performance-Driven Digital Campaign at the 3rd DigiMarcom Leadership Awards 2021
  • Silver Award at the 6th Exchange4media Maddies Awards 2020.
  • 2 Golds and 1 Silver at DIGIES, Digital Awards 2020 in recognition for Best Email Marketing Campaign, Best Performance Marketing, and Best Use of Data Analytics.
  • Honored as the Best Brand 2020 in the life insurance category by The Economic Times for the 2nd time in a row.
  • Gold Award in recognition for its data-driven marketing at the 9th Global Customer Engagement Awards 2020.
  • khushi app won at the 8th Global Customer Engagement Forum under Best Use of Technology and Best Usage of AI in the life insurance category in 2019.
  • Won the Risk Team of the Year award at the ERM World Summit and Awards 2019.

Why Opt for PNB Metlife Insurance?

  1. Brand value

    PNB MetLife protection has constantly shown consistent development and potential. With an aim to make the insurance buying process simpler for the customers, PNB MetLife does not have any hidden clauses, terms, and conditions in policy guidelines.

  2. Variety of products

    PNB MetLife Insurance offers a wide scope of insurance products taking into account the prerequisites of an everyday person to an organization.

  3. End-to-end customer care

    The organization has a cordial client support team that gives consistent pre-and post-sales services.

  4. Tax benefits

    The plans under PNB MetLife are eligible for tax exemption under Section 80C and 10(10D) of the Income Tax Act 1961.

PNB MetLife Insurance Key Features

There are several important factors that one must consider before investing and these are - companies' annual premium, their claim settlement ratio, solvency ratio, and market share.

At PolicyX.Com, we've listed down the key features of PNB MetLife Insurance that will assist you in determining whether this company is right for you.

In the table below, we have highlighted important factors that will show us the performance of the company in FY 2020-21.

Annual premium (2020-21)Rs. 6,032.82 Crores
Claim settlement ratio (2020-21)98.17%
Solvency ratio1.96
No. of Branches15,000

In the following section, we provide you with a detailed explanation of these features.

1 PNB MetLife Insurance Annual Premium Income

In FY 2020-21, the company recorded a gross premium underwritten of Rs. 6,032.82 Crores. In the graph below, we have presented the trend of PNB MetLife Insurance over the past fiscal years.

Annual Premium of PNB MetLife Insurance

Annual Premium of PNB MetLife Insurance

*Data has been sourced from IRDAI Annual Reports

2 PNB MetLife Insurance Claim Settlement Ratio

The Claim Settlement Ratio helps you analyze the number of claims paid against the number of claims filed by an insurer. The latest IRDAI report indicates the claim settlement ratio of PNB MetLife Insurance to be 98.17% in FY 2020-21.

For more information on the company's CSR, we have presented its yearly CSR trend in the graph below.

Claim Settlement Ratio of PNB MetLife Insurance

Claim Settlement Ratio of PNB MetLife Insurance

*Data has been sourced from IRDAI Annual Reports

3 PNB MetLife Insurance Solvency Ratio

The solvency ratio helps you understand the company's ability to meet long-term debt obligations and other capital commitments. IRDAI has mandated that every life insurer in India must maintain a solvency ratio of at least 1.5.

In FY 2020-21, the company announced a solvency ratio of 1.96.

In the table below, we have presented the yearly trend of Solvency Ratio

Yearly Trend of Solvency Ratios of PNB MetLife Insurance

Yearly Trend of Solvency Ratios of PNB MetLife Insurance

*Data has been sourced from IRDAI Annual Reports

4 PNB MetLife Insurance Operating Network

Its bancassurance partnerships with Punjab National Bank (PNB), Jammu and Kashmir Bank Limited (JKBL), and Karnataka Bank Limited (KBL) have facilitated its reach to over 200 million customers. The company has a robust network of direct sales and agency sales channels and broker tie-ups across 15,000 locations in India.

Products Offered By PNB MetLife

The life insurance plans offered by PNB MetLife come with a number of riders that can be availed by policyholders to enhance their coverage or get extra protection against critical illnesses.

The table below lists all the insurance plans offered by the company.

ProductNames of Plans
Family Protection SolutionsPNB MetLife Mera Term Plan Plus Buy Online
PNB Metlife Dental Care Plan
PNB MetLife Saral Jeevan Bima
Mera Mediclaim Plan
PNB MetLife Aajeevan Suraksha Plan
PNB MetLife Mera Jeevan Suraksha Plan
PNB MetLife Family Income Protector Plus
PNB MetLife Income Protection Plan
PNB MetLife POS - Suraksha
Long-Term SavingsPNB MetLife Guaranteed Future Plan
PNB Metlife Guaranteed Goal Plan
PNB Metlife Wealth & Income solution
PNB MetLife Century Plan
PNB MetLife Smart Platinum Plus
PNB MetLife Mera Wealth Plan
PNB MetLife Super Saver Plan
PNB MetLife Bachat Yojna
Child Education PlansPNB Metlife Guaranteed Future Plan
PNB Metlife Guaranteed Goal Plan
PNB Metlife Wealth & Income Solution
PNB Metlife Century Plan
PNB Metlife Smart Platinum Plus
PNB Metlife Super Saver Plan
PNB Metlife Bachat Yojna
PNB Metlife Mera Wealth Plan
Retirement SolutionsPNB MetLife Guaranteed future plan
PNB MetLife Guaranteed Goal Plan
PNB Metlife Wealth and Income Solution
PNB Metlife Century Plan
PNB MetLife Retirement Savings Plan
PNB MetLife Immediate Annuity
PNB Metlife Saral Pension Plan
PNB Metlife Super Saver Plan
PNB Metlife Smart Platinum Plus
PNB Metlife Mera Wealth Plan
Group SolutionsPNB Metlife Group Flexi Term Plan
PNB Metlife Group Term Life Plus
PNB Metlife Group Secured Gain
PNB Metlife Complete Loan Protection Plan
PNB Metlife Loan & Life Suraksha
PNB Metlife Bima Yojna- (Group Micro Insurance)
PNB Metlife Complete Care Plus
PNB Metlife Superannuation
PNB Metlife Traditional Employee Benefits Plan
PNB Metlife Unit Linked Employee Benefit Plan
PNB Metlife Pradhan Mantri Jeevan Jyoti Bima Yojna

How To Buy PNB Metlife Insurance Plans?

You can buy the PNB MetLife Insurance plan from the official website of the company. Let's discuss the process in detail:

  • Visit the official website of the company and click on 'Buy Online'.
  • Fill in all the details and click on the 'Buy Now' button.
  • Enter some more details such as Amount to invest, Payment term, cover term, frequency, and choose the plan option and click on the 'Proceed' button.
  • Add the Add-on riders in your plan and click on the 'Proceed' button.
  • Make the payment using the available payment option and the company will share the policy documents on your registered email ID.

PNB Metlife Insurance Claim Process

The claim process at PNB MetLife consists of 3 steps.

Claim Process PNB MetLife

Apply For the Claim:

File a claim on their website or on their Khushi App. Alternatively, you could intimate via email at claimshelpdesk@pnbmetlife.com, or send a claim request via post.

Submit Documents:

In case of death claims, nominees are required to submit important documents (as highlighted in the next section) in the correct format as stated by the company to ensure a smooth process.

Claim Payout:

Once the documents are received, the claims will be processed within 30 days if further investigation is not required. In cases that require further investigation, claims will be processed within 90 days from the date of receipt of documents.

Note: Depending upon the riders that were bought with the plan, you might be required to submit some additional documents. Please visit their official website for more details or check out the FAQ section at the end of this page.

Documents Required to File a PNB Metlife Insurance Claim

  • Submit Original/attested copy of death certificate
  • Claimant's statement
  • Doctor's certificate
  • Nominee's photo ID and address proof
  • Cancelled cheque/passbook of bank account
  • Authorization letter from the claimant (if claim intimation involves a third party).

PNB Metlife Insurance Contact Details

Phone: 1800-425-6969 (Our Toll-Free Number Within India), +91-80-26502244 (Monday to Saturday; 10 A.M to 7 P.M.)

Mail: For Queries: indiaservice[at]pnbmetlife[dot].co[dot]in, For Grievance Redressal: gro[at]pnbmetlife[dot]co[dot]in

Address: Unit No. 101, 1st Floor, Techniplex-1, Techniplex Complex, Veer Savarkar Flyover, Off S V Road Goregaon (West), Maharashtra- 400062.

PNB Metlife Insurance: FAQs

1. Is it possible to add more than one nominee in my PNB Metlife insurance policy?

Yes, it is possible to add more than one nominee in my PNB Metlife insurance policy. However, the amount will be distributed equally among the nominees.

2. May I know whether PNB Metlife insurance policies are available for NRIs also?

Yes, PNB Metlife insurance policies are available for NRIs as well.

3. How to check the policy status of PNB Metlife Insurance policy?

You need to visit the official website of PNB Metlife and login with your user ID and password. After logging in, you can see the 'policy details tab'. Click on it and you will be able to check your policy status for PNB Metlife Insurance policy.

4. Is there any discount available for fund switches in PNB MetLife Unit Linked Employee Benefit Plan?

Yes, the company offers free switches for the first 4 funds in a policy year in PNB MetLife Unit Linked Employee Benefit Plan.

5. Does PNB MetLife Loan and Life Suraksha plan offer loyalty additions?

Yes, PNB MetLife Loan and Life Suraksha plans offer loyalty additions.

6. What is 'Individual Coverage' for PNB MetLife Complete Care Plus plan?

The PNB MetLife Complete Care Plus plan allows an employee to convert this policy into an Individual Coverage plan after leaving the organisation.

7. Is there any medical test required to opt for PNB MetLife Pradhan Mantri Jeevan Jyoti Bima Yojana?

No, there is no medical test required to opt for PNB MetLife Pradhan Mantri Jeevan Jyoti Bima Yojana.

8. What is the minimum age at entry for a standalone annuity in Joint Life option for PNB MetLife Immediate Annuity Plan?

The minimum age at entry for a standalone annuity in Joint Life option for PNB MetLife Immediate Annuity Plan is 40 years.

9. What if I wish to manage my funds on my own for my PNB MetLife Mera Wealth Plan?

Yes, it is possible. PNB MetLife Mera Wealth Plan offers flexibility to choose between two options, i.e., systematic transfer option and self-managed option.

10. May I know if my PNB MetLife Smart Platinum Plan offers liquidity facilities?

PNB MetLife Smart Platinum Plan offers liquidity facility for withdrawal of partial funds but only after completion of 5 policy years.

11. When will I get the coverage if I opt for PNB MetLife Accidental Disability Benefit Rider Plan?

PNB MetLife Accidental Disability Benefit Rider Plan will provide the coverage only if the disability arises within 180 days from the date of the accident.

12. What are the different types of plans offered by PNB MetLife Life Insurance?

PNB MetLife Life Insurance offers a wide range of insurance plans such as Term Insurance plans, Savings plans, Child Protection Plans, and Retirement Plans.

13. Is it safe to buy a PNB MetLife policy online?

Yes, buying a PNB MetLife policy online is completely safe and the process of buying the PNB MetLife plans is less time-consuming, simple.

14. What is the cancellation process for PNB MetLife plans?

To cancel your policy, You need to fill out a policy surrender form and submit it with your original policy documents to the nearest branch of PNB MetLife insurance company. The insurance company will start the policy cancellation process once they receive all of the required documentation as well as the cancellation fees.

15. How I can pay the premium of PNB MetLife Insurance plans? What are the payment modes offered by the PNB MetLife Insurance company?

PNB MetLife Insurance company offers the following payment mode for paying the policy premium:

Online Mode

  • Netbanking
  • Debit Card
  • Credit Card
  • Electronic Clearing System (ECS)

Offline Mode

  • Cash/Cheque at the nearest branch of the company

Find Out What Customers Are Saying

(Showing latest 5 reviews only)

- 4.6/5 (35 Total Rating)

May 26, 2022

Sudhir Koul

Delhi

Very reliable company. I have bought PNB Metlife insurance, and I believe that this company will help me in my hard times.

February 24, 2022

neha singh

Cuttack

I am a single mother with 2 kids. I always think about the future of my kids. Thats why i invested in term insurance plan with PNB as their claim settlement ratio is good so i am sure that my money is saved

February 18, 2022

Nimrit

Chandigarh

Very satisfied with their team who is always available for help. Never worried about my money with them.

February 10, 2022

Ritu Verma

Delhi

I heard about this company from my friends and family who are already their customers and it is one of the best decisions as the company offers suitable plans for every need.

November 17, 2021

Sakhu Wati

Kanpur

Very reliable company. I have bought PNB Metlife insurance, and I believe that this company will help me in my hard times.

Last updated on June, 2022

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