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PNB MetLife allow buyers to invest in sectors such as consumption, technology, digital, and healthcare among other emerging industries.
Most plans offer the option of selecting the premium payment term among Single, Regular, and Limited Pay.
Investors can now withdraw certain amounts from their funds to fulfil monetary obligations, mostly from the 5th year of the policy term.
Policyholders are covered for the entire duration of the policy term. Besides, they will receive the maturity benefit in a lump sum on survival.
Majority of the savings and investment plans offered by PNB MetLife come with several options that can be used by policyholders to customize their plans according to their monetary objectives.
Along with life cover, investors can choose to accumulate funds under these plans and grow a significant corpus with additional returns.
In FY 2019-20, its claim settlement ratio was reported to be 97.18. For your convenience, in the figure below, we have compared the claim settlement ratios of the top-ranking life insurance companies with that of PNB Metlife.
Comparison between PNB Metlife and other top insurance companies (based on Claim Settlement Ratio)
The table below lists the savings and investment product offerings of the company along with details on the ideal customer base against each plan.
S. No. | Names of Plans | Who should buy it? |
1 | PNB MetLife Mera Wealth Plan | The plan is for individuals who wish to secure their life and plan future finances. Those with an appetite for risk should consider this plan for high returns. |
2 | PNB MetLife Century Plan | People looking for long-term life cover should consider this plan. It is suitable for anybody looking to ensure a second source of income post-retirement. |
3 | PNB MetLife Endowment Savings Plan Plus | The plan is ideal for people looking for protection against critical illnesses. People looking to pay off their financial obligations such as debts should have this plan on their shortlist. |
4 | PNB MetLife Smart Platinum | Individuals looking to diversify their investment portfolio are ideal for this plan. In addition to high returns, those looking for long-term life cover should check out this plan. |
5 | PNB MetLife Guaranteed Future Plan | Individuals who want a systematic savings option while remaining protected under life cover should be ideal for it. |
6 | PNB MetLife Smart Platinum Plus | This ULIP is ideal for those looking for whole life cover and flexibility in their investment portfolio. |
7 | PNB MetLife Guaranteed Savings Plan | Those who are looking to save for their families or future obligations should consider this plan. |
8 | PNB MetLife Guaranteed Income Plan | Those who wish to ensure an earning for their families in case of adversities should go study this plan. Riders can be availed for those who wish for enhanced coverage. |
9 | PNB MetLife Super Saver Plan | This is for people who wish to strengthen their finances with accrued bonuses. People who want to leave their families financially protected are ideal for this plan. |
10 | PNB MetLife Bachat Yojana | People looking for affordable life cover and increased savings are ideal customers. |
We have attempted to briefly describe each of these plans in the next sections.
It is a unit-linked wealth and savings plan that enables policyholders to achieve their financial goals in addition to ensuring a life cover. Please note that unit-linked funds are subject to market volatilities and the risks are borne by the policyholders.
Key Features
Eligibility Criteria
Entry age | Minimum: 30 days, Maximum: 60 years |
Age at Maturity | Minimum: 18 years, Maximum: 80 years |
Maximum Policy Term | 30 years |
Premium Payment Options | Single premium, Regular premium, 5 Year/10 Year Limited premium |
A recent addition to the company's product range, the PNB MetLife Century Plan offers life cover till the age of 100.It also serves as a second source of income post-retirement.
Key Features
Eligibility Criteria
Income Option | Super Income | Super Income | Future Income |
Minimum Entry Age | 30 days / 18 years | ||
Maximum Entry Age | 50-60 years | 50-65 years | 50-60 years |
Maturity Age | 80-100 years | ||
Policy Term | 80 minus Entry Age, 100 minus Entry Age | ||
Premium Payment Term | 5 Pay/10 Pay/12 Pay/15 Pay | 5 Pay/10 Pay/12 Pay/15 Pay | 8 Pay/10 Pay/12 Pay/15 Pay |
Minimum Sum Assured | Rs. 2,40,000 / Rs. 6,00,000* | ||
Minimum Annualized Premium | Rs. 24,000 / Rs. 60,000* |
* Subject to Premium Payment Term
It is an endowment-based investment plus life insurance plan that helps in serving financial needs at every stage of life.
Key Features
Eligibility Criteria
Plan Option | Savings | Savings Plus |
Entry age | Minimum: 8 years, Maximum: 60 years | Minimum: 18 years, Maximum: 55 years |
Age at Maturity | 80 years | Regular Pay: 65 years, Limited Pay: 80 years |
Policy Term | 10-25 years | |
Premium Payment Options | Regular premium, Limited premium (5 Pay/7 Pay/10 Pay) | |
Minimum Sum Assured | Rs. 2,20,000 |
Another ULIP plan by PNB MetLife, allowing investors to build their investment portfolio through 6 different market-linked funds, depending on their risk appetite.
Key Features
Eligibility Criteria
Entry age | Minimum: 7 years, Maximum: 70 years | |||
Premium Payment Term | 5 Pay, 10 Pay, Whole Term | |||
Premium Payment Modes | Annual | Semi-Annual | Monthly | Quarterly |
Minimum Annualized Premium | Rs. 30,000 | Rs. 60,000 | Rs. 60,000 | Rs. 60,000 |
The plan helps policyholders to systematically save while ensuring a life cover. It further guarantees returns against the savings corpus of policyholders.
Key Features
Eligibility Criteria
Minimum Entry Age | 30 days* |
Maximum Entry Age | 60 years |
Maximum Maturity Age | Single Pay: 80 years, Limited Pay: 75 years |
Premium Payment Option | Single Pay, Limited Pay |
Policy Term | 12-32 years** |
Minimum Sum Assured | Single Pay: 1.25 x Single premium, Limited Pay: 10 x Annualised premium |
Minimum Annualized Premium | Single Pay: Rs. 2,00,000, Limited Pay: Rs. 12,000 |
* Subject to change per the chosen policy term
** Subject to payout option chosen
With PNB MetLife Smart Platinum Plus, investors can avail themselves of whole life protection coupled with opportunities to grow financially.The plan covers policyholders against critical illnesses.
Key Features
Eligibility Criteria
Plan option | Wealth | Wealth + Care |
Age at Entry | Minimum: 30 days, Maximum: 70 years | Minimum: 18 years, Maximum: 65 years |
Age at Maturity | 80 years/99 years | |
Premium Payment Options | Single, Regular, Limited Pay | Limited Pay |
Minimum Sum Assured | Single Pay: Rs. 1.87,500, Regular/Limited Pay: Rs. 3,36,000 | |
Premium Payment Mode | Annual, Half-Yearly, Monthly |
It is a savings-based insurance plan that guarantees additional returns on the premiums paid. Maturity benefit is payable as a lump sum, which can then be used by the policyholder to achieve her/his short-term and long-term goals.
Key Features
Eligibility Criteria
Premium Payment Term | 5 Pay | 7 Pay | 10 Pay |
Age at Entry | Minimum: 8 years, Maximum: 60 years | Minimum: 3 years, Maximum: 60 years | Minimum: 3 years, Maximum: 60 years |
Maximum Age at Maturity | 70 years | 72 years/75 years | 80 years |
Policy Term | 10 years | 12 years/15 years | 20 years |
Minimum Sum Assured | Rs. 4,00,000 | Rs. 2,00,000 | Rs. 1,50,000 |
It is an individual, non-participating, non-linked, savings and life insurance plan. The scheme has been designed to secure your family against unexpected circumstances while also offering an additional income.
Key Features
Eligibility Criteria
Premium Payment Term | 5 Pay | 7 Pay | 10 Pay | 12 Pay |
Policy Term | 10 years/15 years | 15 years | 20 years | 20 years |
Minimum Entry Age | 8 years/3 years | 3 years | 3 years | 3 years |
Maximum Entry Age | 60 years | |||
Maximum Maturity Age | 70 years/75 years | 75 years | 80 years | 80 years |
Minimum Annual Premium | Rs. 52,900* | Rs. 23,864 | Rs. 16,666 | Rs. 12,357 |
Minimum Sum Assured | Rs. 4,00,000 | Rs. 2,00,000 | Rs. 1,50,000 | Rs. 1,50,000 |
*For a policy term of 10 years.
It is a non-linked life insurance plan designed to financially protect policyholders and their families in the future.
Key Features
Eligibility Criteria
Plan Option | Savings | Savings + Family Care | Savings + Health Care |
Age at Entry | Minimum: 0 days, Maximum: 60 years | Minimum: 18 years, Maximum: 50 years | Minimum: 18 years, Maximum: 55 years |
Age at Maturity | Minimum: 18 years, Maximum: 80 years | Minimum: 28 years, Maximum: 70 years | Minimum: 28 years, Maximum: 75 years |
Policy Term | 10-20 years | ||
Minimum Sum Assured | Rs. 2,20,000 | ||
Premium Payment Mode | Yearly/Half Yearly/Monthly |
PNB MetLife Bachat Yojana is an individual, non-linked, long-term savings plan with the benefit of life cover.
Key Features
Eligibility Criteria
Age at Entry | Minimum: 20 years, Maximum: 60 years |
Maximum Maturity Age | 75 years |
Premium Payment Term | 10 years limited pay |
Policy Term | 15 years |
Sum Assured | Minimum: Rs. 64,800, Maximum: Rs. 5,00,000 |
The claim process at PNB MetLife involves the following steps:
File a Claim:
Submit Required Documents:
In case of a death claim, documents required are:
Claim Payout:
Upon receipt of essential documents, the claims are processed within 30 days, if further investigations are not required.
In cases requiring follow-up investigation, claims will be processed within 90 days from the date of receipt of documents.
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*Terms and Conditions May Apply
1. What is the minimum / maximum amount required to open a fixed deposit account at PNB?
Term deposits like Balika Shiksha can be opened without any minimum balance. The maximum limit is usually set at Rs. 10 Crores for fixed deposits.
2. What is the minimum / maximum deposit period for FD accounts at PNB?
Term deposits can be made for a period of as low as 7 days to as long as 10 years. Plans can be auto-renewed at the end of the term.
3. How does the Return of Fund Management Charge benefit work?
The total of Fund Management Charges (excluding any applicable goods and service taxes) deducted during the first 5 years of the policy net of taxes will be added back to the Fund Value at the end of the 6th policy year.
For a premium payment term of 5 years, the total of Fund Management Charges (excluding any applicable goods and service taxes) deducted during the first 3 years of the policy net of taxes will be added back to the Fund Value at the end of the 6th policy year.
Return of Fund Management Charge will be payable provided the policy is in force and all due instalment premiums till the end of the 6th policy year have been paid in full. This benefit will not be available in the case of the Single Pay premium payment option.
4. When will I receive a Fund Booster?
Fund Boosters will be allocated to your policy at the end of the 10th policy year provided the policy is in force and all due instalment premiums till the date have been received in full. If the policyholder has chosen multiple funds, a Fund Booster will be allocated to each fund based on the fund value of that particular fund and Fund Booster percentage.
5. What Critical Illnesses are covered under 'Care Benefit' of PNB MetLife Smart Platinum Plus?
6. What Bonus Options can be availed under PNB MetLife Super Saver Plan?
The Policy Holder shall have the option to choose the following bonus options at inception of the policy:
Accumulation
Simple Reversionary Bonus, if any will accrue throughout the Policy Term and is paid as a lump sum on the Maturity Date or Death (except in Plan Option 2: Savings + Family Care), whichever is earlier. For Savings + Family Care Option, after Death of the Life Assured Simple Reversionary Bonus, if any shall be accrued and paid along with Maturity Benefit.
Liquidity
Simple Reversionary Bonus, if any accrues during Premium Payment Term and is paid at the Maturity Date or death (except in Plan Option 2: Savings + Family Care) whichever is earlier. For Savings + Family Care Option, after Death of the Life Assured Simple Reversionary Bonus, if any shall be accrued during premium payment term and paid along with Maturity benefit.
Cash Bonus, if any will be paid at the end of each Policy Year after the expiry of the Premium Payment Term till the Maturity Date or death (except in Plan Option 2: Savings + Family Care), whichever is earlier. For Savings + Family Care Option, after the death of the Life Assured Cash bonus, if any shall continue to be paid till Maturity.
(Showing latest 5 reviews only)
May 26, 2022
Sudhir Koul
DelhiFebruary 24, 2022
neha singh
CuttackI 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
ChandigarhVery satisfied with their team who is always available for help. Never worried about my money with them.
February 10, 2022
Ritu Verma
DelhiI 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
KanpurVery reliable company. I have bought PNB Metlife insurance, and I believe that this company will help me in my hard times.
Last updated on August, 2021
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Very reliable company. I have bought PNB Metlife insurance, and I believe that this company will help me in my hard times.