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Pnb Metlife Loan And Life Suraksha Plan vs Promise2protect

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Know More About Plans

PNB Metlife has launched the PNB MetLife Loan and Life Suraksha Plan, offering life insurance along with protection for your mortgage, educational, personal, and auto loans. The policy comes in 3 types of coverage options, namely the Reducing cover option, the Level cover option, and the Increase of sum assured due to an increase in loan.

The policy allows including 2 people for education, mortgage & other housing loans in the same plan. Whereas, for group insurance maximum 50 people are allowed. The policy also comes with a joint life option where the death benefit is given to the surviving policyholder in case of death of the first life and the policy terminates.

PNB Metlife Loan & Life Suraksha Plan offers you a range of benefits including:

why-choose
  • Affordable premiums
  • flexible premium payment
  • Dual coverage option
  • Tax benefits
  • Loan Benefit
PLAN DETAILS

Pnb Metlife Loan And Life Suraksha Plan


Promise2protect

Premium Including GST
Key Features
(Key features of the plan)
  • Dual Coverage option
  • Joint Life option
  • Moratorium Period
  • Increasing Coverage Option
  • 2 Plan Options
  • Spouse Coverage
Plan Maturity age Maximum Maturity Age - NA Maximum maturity age- 80 years
Plan Sum Assured Base sum assured: 5 Thousand to no limit Base sum assured- Rs 15 lakhs to No limit
Plan Entry Age Minimum Age - 15 years Maximum Age - 65 years Minimum age- 18 years, Maximum age- 60 years
Plan Payment modes Half-yearly, Quarterly, Yearly, Monthly Yearly, half-yearly, quarterly, and monthly
Plan Policy loan The policy loan is available under PNB MetLife Loan and Life Suraksha Plan Policy loan is not available with this plan
Plan Sample Premium Rs 532-/ per month Rs 543-/ per month
Plan Brochure Brochure URL Brochure URL
Policy Term Minimum term - 2 years, Maximum term - 25 years Minimum policy term- 5 years, Maximum policy term- (80- Entry age)
Claim Settlement Ratio (2024-25) 99.57% 99.43%

* The above sample premiums are for a 30-year-old male, nonsmoker with a sum assured of Rs 50 lakhs and a policy tenure of 25 years. You can calculate the premiums for the above term insurance plans using the PolicyX Term Insurance Calculator.

Riders

How does Canara HSBC Promise2Protect operate?

Canara HSBC Promise2Protect operates as follows:

  • First, choose between return of premium and pure protection options.
  • Select sum assured based on family needs, loans, or education goals.
  • Pick a term that matches your earning years.
  • Pay premiums monthly, quarterly, or annually.
  • Opt for payout as monthly income, lumpsum or both.
  • Add spouse cover under the same plan.
  • Increase coverage at life milestones like childbirth and marriage.
  • Receive a complete premium back if you survive the policy term under the ROP option.
  • Nominee gets the sum assured if death occurs during the term.

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