PNB Term Insurance
  • Low premium rates
  • Survival Benefit
  • 50 ci covered
PNB Metlife Term Insurance
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PNB Metlife Term Insurance

PNB Metlife offers comprehensive term insurance plans that allow you to secure your family members financially after your demise. These plans come with a range of benefits and ensure to offer financial protection to your family and also offer peace of mind.

To understand how this plan will help secure your family's future and benefit you we have provided all the information that you need. Read further to know more about PNB Metlife Term Insurance Plan.

PNB Term Insurance comes with several unique features that allow the policyholder to be sure that their family's future is safe. Take a look at the below-mentioned features of the PNB Term Plans.

Key Features of PNB Metlife Term Insurance

Before jumping on to the plans offered by PNB Term Insurance, take a look at some of the features that give an insight into the company's performance:

  • Annual Premium:The annual premium of the company helps in analyzing the company’s growth and performance over the years. As per the IRDAI Annual Report 2020-21, the annual premium of PNB Term Insurance is Rs. 6,032.82 Crores.
  • Claim Settlement Ratio:The Claim Settlement Ratio or CSR of the company helps the policyholder to analyze the company’s ability to settle the claims. The higher the claim settlement ratio higher the chances of your claims getting settled on time. As per the IRDAI Annual Report, the CSR of PNB Term Insurance is 98.71%.
  • Solvency Ratio:The solvency ratio of the company helps the policyholder in assessing the company’s ability to settle its long-term liabilities. It is now mandated by the IRDAI to maintain a Solvency Ratio of 1.5. As per the IRDAI Annual Report, the solvency ratio of PNB Metlife Term Insurance is 1.96.
  • Operating Network:The company has access to more than 200 million people through their operating network that is spread across 15,000+ locations through bancassurance partners.
PNB Metlife Term Insurance Key Features
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Benefits of PNB Metlife Term Insurance

  • Choice of Plan Options: These term plans allow policyholders to personalize their plans as per their needs and financial situation. PNB MetLife Mera Term Plan Plus offers four benefit options to ensure that your family is secured financially and also has an option to customize your plan with additional options. The benefit options you can choose from are stated below:
    • Life cover against death.
    • Life Plus- cover against death and terminal illness.
    • Life Plus Health- cover against death and terminal illness plus all future premiums waived off on accidental permanent disability or diagnosis of critical illness plus accelerated lump sum on diagnosis of listed critical illnesses.
    • You can choose an additional cover for your spouse in the same plan and also get back premiums at the end of the coverage tenure.
    • Return of Premium-option to get your premiums back on survival till maturity.
    • Spouse Coverage- to protect your spouse within the same plan.
  • Increase your Sum Assured: Term plans allow you to increase your sum assured in a systematic manner every year by 10% for the next 10 years.
  • Different Premium Payment Terms: Every plan discussed in the subsequent sections offers flexibility to choose from Single, Regular, or Limited premium payments.
  • 99 years of life cover: PNB MetLife Mera Term Plan Plus offers a life cover of 99 years. This online term plan can be customized keeping in mind the needs of your family. You can secure your life until 99 years of age.
  • 50 Critical Illnesses covered: If the life assured is diagnosed with any of the covered critical illnesses and the policy is in force on the date of diagnosis, 25% of the basic sum assured will be paid as a lump-sum amount.
  • Cover your spouse: This is an optional benefit provided in PNB Metlife Mera Term Plan Plus where your spouse can get insured too.
  • Increase your cover on important life events: As you progress through life, responsibilities increase with your life cover requirements. PNB Mera Term Plan Plus gives you the flexibility to increase your cover on important milestones of life.

PNB Metlife Term Insurance Plans

PNB Metlife Mera Term Plan Plus

PNB Metlife Mera Term Plan Plus is an online term plan that can be customized by policyholders according to their financial liabilities. The plan offers lifetime security for the family in the event of adversity leading to the death of the policyholder.

Unique Features

  • Flexibility in death benefit payout
  • In-built Joint Life feature
  • Protection till the age of 99 years

Add-on Riders Available under PNB Metlife Term Insurance

PNB Metlife Term plan allows the policyholder to enhance their coverage by adding several riders to their base plan. Below mentioned are the riders available under PNB Term Plan.

  • PNB MetLife Critical Illness Rider Plan

    PNB MetLife Critical Illness Rider Plan protects the life assured and his/her family from serious illnesses that take a longer time to cure. The rider plan provides payment of an additional amount on the diagnosis of 10 critical conditions. This plan acts as an additional health cover under the base policy, where rider term and sum assured options are available to provide coverage as per your needs.

  • PNB MetLife Accidental Death Benefit Rider Plan

    PNB MetLife Accidental Death Benefit Rider Plan offers additional coverage to cover the financial needs of the family in case of the unfortunate death of the policyholder (due to an accident). This rider offers payment of an additional amount should death occur as a result of an accident by outward violent and visible means (before age 60 years).

  • PNB MetLife Term Rider Plan

    PNB Term Rider is an additional benefit that can be attached to the life insurance coverage to enhance the death cover of your policy.

  • PNB Metlife Waiver of Premium Rider Plan

    PNB Metlife Waiver of Premium (WOP) Rider offers an additional benefit, which ensures that future due premiums are waived off in case of total and permanent disability of the life assured. The benefit can be purchased by paying a nominal extra premium over and above the base premium.

How To Buy PNB Metlife Term Insurance Plans?

Buying PNB Metlife Term Plan is an easy and hassle-free process. For your convenience, we have explained the process of buying insurance plans online.

Steps to Buy through PolicyX.com

  • Go to the top of this page and fill out the form 'Free Quotes from Top Companies' and click on 'Continue'.
  • Select your income and city. Click on the 'Proceed' option.
  • Select 'PNB MetLife' from the list of insurance providers.
  • Click on 'Invest'.
  • Make the payment.
  • A confirmation email with the soft copy of the policy will be sent to your registered email id on successful completion of the process.

Steps to Buy from the official Website of PNB Metlife

  • Visit the official website of the PNB Metlife Insurance Company.
  • Click on the term plan you want to buy, and fill in the required details to get quotes'.
  • Submit some more details such as your name, email address, and mobile number.
  • Confirm the details and click on the tab 'Get Quote'.
  • Choose the sum assured and the policy term & click on the chosen premium amount.
  • Choose your plan variant and add riders if you want to.
  • Make the payment using available payment modes.
  • The company will share the policy documents on your registered email ID. It will also send a hard copy to your address.

Claim Process at PNB MetLife

The claim process at PNB MetLife involves the following steps:

Claim Process PNB MetLife

1. File a Claim

  • Apply for the claim on their official website, or
  • Inform via email at claimshelpdesk@pnbmetlife.com, or
  • Send them a letter via post, or
  • Use their self-service mobile app, named Khushi.

2. Submit Required Documents

In case of a death claim, the documents required are:

  • Death certificate - original/attested copy.
  • Official statement of the Claimant.
  • Physician's/Doctor's certificate.
  • Claimant's photo ID and address proof.
  • Cancelled cheque/passbook for bank account details.
  • Claimant's authorized letter, in cases involving a third party.

3. 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.

Still have questions?

No worries. The experts @PolicyX.com are always available to assist you.

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

write to - helpdesk@policyx.com

Get in touch @1800-4200-269

PNB Metlife Term Insurance: FAQs

1. What is the difference between term and life insurance?

Term Plans are pure insurance plans where your life is covered at a very low cost and in case of a mishap, your nominees get the payout.

2. Can we get money back/ return in Term insurance?

Term life insurance has no cash value, so if you outlive or cancel your policy, there's no refund or surrender value.

3. Does PNB provide claims in death cases?

Yes, The claimant must submit the written intimation as soon as possible to enable the insurance company to initiate the claim processing. The claim intimation should consist of basic information such as policy number, name of the insured, date of death, cause of death, place of death, and name of the claimant.

4. Will there be a difference between buying a policy online and buying from an agent?

Buying Term Insurance online will allow you to save time, compare and view plans at the click of a button and offer various payment options like net banking, credit/debit card, UPI, etc.

5. How much time will it take for PNB Metlife to provide a claim?

As per the time limits set by the Insurance Regulatory and Development Authority (IRDA) of India, insurers should settle death claims within 30 days. This condition applies to all claims where the insurer does not see the need to investigate the cause of death.

6. Will all the deaths be covered under term insurance?

Yes, death due to natural calamities is covered under this plan. The nominee should ensure that death-related documentation is in place while raising a claim.

7. What is the total coverage period if I opt for Joint Life Cover?

The total period can range from 10-40 years.

8. How does the Critical Illness Rider work?

If the policyholder is diagnosed with any of the pre-specified critical illnesses during the policy term, (s)he is liable to receive 25% of the sum assured immediately as a lump sum amount.

9. Can NRIs invest in PNB MetLife term insurance?

Yes, NRIs are eligible to purchase the company's term plans. The policies are Rupee-denominated and the premiums and claim amounts are payable in Indian Rupees.

10. What happens if I pay an extra premium against my plan?

The extra amount will be adjusted against future premiums. The policyholder does not earn any interest on the excess premium paid.

11. What happens if I do not pay the term insurance renewal premium by the due date?

PNB MetLife term plans come with a grace period of 30 days. If the premium is not paid within this period, the policy will lapse. In order to reactivate the plan again, the insured has to complete certain reinstatement requirements, which may include a few medical tests and additional charges.

12. What are the documents that I may need at the time of purchasing the PNB Metlife Term Plan?

To buy a PNB MetLife term insurance plan, you are required to submit:

  • Identity proof & Address proof such as your Passport, Aadhar card, Driving License, Voter ID can be used as ID proof and address proof.
  • Income Proof such as an income tax return, last 3 months salary slip, bank statement of 6 months, and Form 16.

13. Are NRI's eligible to invest in PNB Metlife Term Plans?

Yes, as per the IRDAI, NRIs can invest in PNB Life Insurance policies.

14. I want to check the status of my PNB Life Term Policy. How can I do that?

To check the status of your policy, you need to login in with your User ID and password on the e-portal available on the company's website. Once done, the next screen will show you your policy details.

15. Is it possible for me to have more than one nominee?

Yes, you have the option of appointing several nominees. At the time of the death benefit payout, the amount will be distributed equally among the chosen candidates.

PNB Metlife Term Insurance Reviews

Read what our customers have to say about PNB Metlife term insurance company

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Sudhir Koul

Delhi

May 26, 2022

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

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neha singh

Cuttack

February 24, 2022

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 m...

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Nimrit

Chandigarh

February 18, 2022

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

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Ritu Verma

Delhi

February 10, 2022

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.

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Sakhu Wati

Kanpur

November 17, 2021

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

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Vahisht Aggarwal

Delhi

October 18, 2021

Settled my claims within a month of my policy maturity. Super happy with the services and satisfied also.

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Shweta Mittal

Jaipur

October 8, 2021

Got my claims settled in a week s time. So happy that PNB Metlife understands the needs of its customers

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Namrata Singh

Kolkata

October 6, 2021

I will be forever grateful to PNB Metlife for settling my claim. Thank you for understanding the needs of your customers.