PNB MetLife India Insurance Company Limited (PNB MetLife) is one of the leading life insurance companies in India. The company was founded in 2001. It is a joint venture between PNB MetLife and MetLife International Holdings LLC (MIHL), Punjab National Bank Limited (PNB), Jammu & Kashmir Bank Limited (JKB), M. Pallonji & Company Private Limited and MIHL. The company has its presence in more than 107 locations across the country. It offers a vast range of term insurance plans. Let's explore the same in detail.
PNB Metlife Mera Term Plan is a pure protection plan that offers financial protection to your loved ones. It deals with all protection needs at affordable prices.
Key Features
Full Lump Sum Payout
Payout as Lump Sum + Regular Monthly Income
Payout as Lump Sum + Increasing Monthly Income
Payout as Lump Sum + Regular Monthly Income till child turns 21
Eligibility Criteria
Entry age | 18 years to 65 years |
Minimum sum assured | 10 lakhs |
Premium Payment frequency | Yearly and monthly |
**Last Updated on 21-12-2020
Two famous organizations - PNB MetLife Insurance (PMLI) and Religare Health Insurance (RHI) have joined hands to protect you and your family's health with the Mera Mediclaim Plan. It is a solution that offers the benefits of both health and life insurance in a single plan. The health insurance benefit under the plan is offered by RHI and the life cover is offered by PMLI.
Health Benefits
Life Benefits
Eligibility Criteria
Entry age | 18 years to 65 years |
Maturity age | 28 years to 80 years |
Policy term | 10 years to 40 years |
Premium payment mode | Yearly / Half-yearly/ Quarterly / Monthly |
**Last Updated on 21-12-2020
(*Values may vary as per different plan options)
PNB MetLife Aajeevan Suraksha is a comprehensive protection plan. The plan offers the convenience to pay premiums for a shorter tenure and keep you protected for life (up to age 99), or till the term of your choice. You are allowed to cover your spouse in the same plan and select the return of premiums on survival till the end of the policy tenure.
Key Features
Eligibility Criteria
Entry age | 18 years to 65 years |
Maturity age | Fixed Term Cover - 80 Whole Life Cover- 99 |
Sum Assured (Rs.) | Minimum : 25,00,000 Maximum: No limit, subject to Board approved underwriting policy |
Premium payment option | Yearly/Half-yearly/Monthly |
**Last Updated on 21-12-2020
PNB MetLife Mera Jeevan Suraksha Plan is a pure protection plan that offers regular income or a lump sum payout to secure your family's dreams in case of your unfortunate demise. You can opt to cover your spouse in the same plan and have the option to choose the return of premiums on survival till the end of the policy tenure.
Key Features
Eligibility criteria
Entry age | 18 years to 65 years |
Maturity age | 28 years to 80 years |
Premium payment term | Regular Pay |
Basic Sum Assured (Rs.) | Rs. 25,00,000 - No limit subject to underwriting |
**Last Updated on 21-12-2020
PNB MetLife Family Income Protector Plus is a pure term insurance plan that offers the flexibility to select your premium and monthly income. It offers coverage against death during the policy tenure. This plan allows you to get your premiums back at the end of the policy tenure.
Key Features
Eligibility Criteria
Entry age | 25 years – 60 years (55 for Policy term 20 years) |
Max. age at maturity | 75 years |
Plan options | Term Cover & Term with Return of Premium Option(TROP) |
Premium paying options | Yearly, Half-yearly, Monthly & PSP modes |
Monthly Income Options | Rs.10,000/-, Rs.25,000/-, Rs.50,000/- Rs.75,000/- & Rs.1,00,000/- |
**Last Updated on 21-12-2020
It is a non-linked and non-participating life insurance plan. The plan is designed in a way that is capable of meeting your savings as well as protection requirements. This plan not only provides financial protection to your family by way of regular monthly income or lump sum but also ensures returns ranging from 100% to 150% of the total premiums paid on survival till maturity.
Key Features
Eligibility Criteria
Entry age | 18 years to 55 years |
Maturity age | 75 years |
Premium Paying Term (PPT) (Years) | 5, 7 & 10 years |
Premium Payment modes | Yearly / Half-yearly / Monthly |
**Last Updated on 21-12-2020
(Values may change as per different plan options)
It is an individual, non-linked and non-participating savings life insurance plan with return of premiums.
Key Features
Eligibility Criteria
Entry age | 18 years to 55 years |
Maturity age | 65 years |
Premium Paying Term (PPT) (Years) | 5/10 years |
Sum assured | Rs.50,000 to Rs.25,00,000 |
Maximum Premium (Rs.) | As per maximum basic sum assured of Rs.15,00,000 |
**Last Updated on 21-12-2020
(Values may change as per different plan options)
It is a group term life insurance policy that offers death benefits to the nominee. A person can invest in this policy in lieu of mandatory EDLI (Employee Deposit Linked Insurance Scheme) that provides a lump sum payment to the employees' beneficiary in case of death of employees who are covered under the Employees Provident Fund and Miscellaneous Provision's Act, 1976.
Key Features
Eligibility Criteria
Entry age | 18 years to 80 years |
Maturity age | 81 years |
Coverage term | Year renewable term - one year |
Premium Payment Modes | Annual, Semi-Annual, Quarterly, Monthly |
Premium Payment Term | Regular |
**Last Updated on 21-12-2020
(Values may change as per different plan options)
PNB MetLife Complete Loan Protection Plan is a tailor-made group insurance plan that offers comprehensive coverage against death, disability, critical illness and terminal illness to the insured member(s) and provides financial protection to their families.
Key Features
-Premium payment term: Single premium or 5 pay.
-Cover Term (subject to a maximum of actual loan tenure).
-Cover Amount (subject to a maximum of 120% of the loan amount).
Eligibility Criteria
Entry age | 14 years to 75 years |
Policy term | 2 years to 40 years |
Group size | 50 members to no-limit |
Premium Paying Modes | Yearly, Half-yearly & Monthly |
**Last Updated on 21-12-2020
(Values may change as per different plan options)
PNB MetLife Loan & Life Suraksha plan is a group life insurance plan, which provides a cover on the outstanding loan amount so that customers do not have to bear the burden of a loan in case of unexpected situations.
Key Features
Eligibility Criteria
Entry age | 15 years to 65 years |
Maturity age | 70 years |
Group size | 50 lives to no-limits |
Sum assured per member | Rs.5000- no limits |
Premium paying options | Single Pay, Limited Pay 5 Years & Limited Pay 10 Years |
Premium paying modes | Single, yearly, half-yearly, quarterly, monthly & payroll saving program |
**Last Updated on 21-12-2020
PNB MetLife Bima Yojana – (Group Micro-Insurance) is an effective product that provides life insurance cover to the members of the group to protect their loan amount. This insurance plan protects the family of insured members from financial liabilities in case of an unfortunate event.
Key Features
Eligibility Criteria
Entry age | 18 years to 69 years |
Maturity age | 70 years |
Policy term | 6 months to 84 months |
Group size | 5 lives to unlimited |
**Last Updated on 21-12-2020
(Values may change as per different plan options)
PNB MetLife Complete Care Plus is a group term life insurance policy. This plan offers the required cover against death and protects the family. It is an employee-specific insurance policy that can be customized as per the requirement and offer financial security to employees and their families.
Key Features
Eligibility Criteria
Entry age | 18 years to 80 years |
Maximum Expiry Age | 81 Years age last birthday |
Minimum Premium | Rs. 2915 per life |
Minimum Face Amount (Per member) | Rs. 5,000 |
**Last Updated on 21-12-2020
It is a non-linked and non-participating one-year renewable term insurance product. This plan is designed to cater to different coverage requirements under the provisions of the “Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)” scheme launched by the Government of India.
Key Features
Eligibility Criteria
Entry age | Minimum: 18 years (age last birthday) Maximum: 50 years (age nearer birthday) |
Maturity age | 55 years (age nearer birthday) |
Policy term | 1 year, on a yearly renewable basis |
Sum assured | Rs.200,000 |
Premium amount | Rs. 330 per Annum per member |
**Last Updated on 21-12-2020
To assist you with additional coverage, the company offers additional options in the form of riders that will allow you to enhance the basic cover at an affordable cost.
This rider offers 100% of the rider sum assured on the survival of 30 days after the confirmed diagnosis of the insured who is suffering from any one of the listed critical illnesses.
PNB MetLife Accidental Disability Benefit Rider is a rider that you can choose along with your basic insurance plan to cater to different needs at a nominal premium. This rider will assist when an accident happens during the chosen policy tenure and disability occurs beyond the policy tenure.
Under this rider, the sum assured shall be payable upon the first diagnosis of one of the covered critical illnesses. This rider offers additional protection against cancer and heart attack. Following a critical illness claim, the base policy will continue with base sum assured for the rest of the policy tenure.
Under this rider, 100% of the rider sum assured shall be payable in case of death of the life insured due to an accident within the policy term.
This rider offers an additional payment of 100% of the rider sum assured in case of Permanent and Total Disability of the insured as a result of an accident.
This rider pays a percentage of the rider sum assured in the case of permanent partial disability and/or permanent total loss of use of limbs, sight, hearing and/or speech due to accident.
This rider offers payment on diagnosis of 15 serious conditions. With it, you will be ready to deal with the expenses of required treatment easily. It helps you to protect yourself against any health or lifestyle risk.
It is a non-linked one-year renewable group rider. In case of death of the insured (due to accident during the tenure), this rider will pay an extra sum assured along with the base sum assured.
You can invest in PNB Metlife Term Insurance plans in two different ways- via the official website of the company or through PolicyX.com. Let's discuss both in detail.
Buy via PNB Metlife Term Insurance
The rest of the PNB Metlife term insurance plans are not available online. You have to visit the nearest PNB Metlife Insurance branch to invest in the same.
Buy Via PolicyX.com
To file a PNB Metlife Term Insurance claim, you have to first inform the company. There is no online process so you have to intimate the claim in written or through the post.
To know more about the process, please connect with the customer care team of PNB Metlife.
1. What is the process of PNB Metlife term insurance death claim (if death occurs abroad)?
Documents required will be the same but the death certificate needs to be attested by the Indian Embassy of that country.
2. What will happen if I do not pay the PNB Metlife term insurance renewal premium by the due date?
PNB Metlife Term Insurance plan comes out with a grace period of 30 days after the due date for premium payment. If the premium payment is not received within this time period, the policy will lapse and the plan will cease to exist. To reactivate your plan, the insured has to complete the reinstatement requirements. It may include a few medical tests and payment of additional charges.
3. What happens if I pay an extra premium under my PNB Metlife term insurance plan?
If you pay an extra premium, it will be adjusted against future premiums. The policyholder does not earn any interest in the excess premium paid.
4. Can NRIs invest in PNB Metlife term insurance policies?
NRIs can easily invest in term insurance policies issued by insurance companies registered in India. The policies are rupee-denominated and the premiums and claim amounts are payable in Indian rupees.
5. How can I get information on my PNB Metlife term insurance?
You can get the required information:-
By calling the NRI SPOC.
By sending an e-mail to nriservices[at]metlife[dot]com
Through the Policy Information Portal (PIP) on the PNB MetLife India Website.
By calling the India call centre: MTNL/BSNL:1-800-425-6969 and all others: +91-80-2650-2244 (8 am - 8 pm) or on the International Toll-Free No.
Note* Keep the basic details ready with you.
Last updated on 21-12-2020