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Overview
The PNB MetLife Mera Jeevan Suraksha Plan is designed to provide financial protection in unforeseen circumstances. The plan includes death coverage and offers discounts for non-smokers. The policy term is a maximum of 40 years and is available with individual and joint life options.
The minimum entry age for this plan is 18 years, whereas the maximum entry age is 65 years. The plan offers a 105% terminal illness benefit. The Jeevan Suraksha Plan is available in 4 variants and offers a family protection option, allowing you to choose nominees.
PNB MetLife Mera Jeevan Suraksha Plan offers a range of benefits, including:
- 100% Return of Premiums on Survival (if opted)
- Inbuilt Terminal Illness Cover
- Joint Life Cover for spouse
- Tax benefits as per prevailing tax laws
- Special premium rates for female lives
- Waiver of Premium on the death of the primary policyholder
Riders Associated with PNB MetLife Mera Jeevan Suraksha Plan
You can add the following riders to your PNB MetLife Mera Jeevan Suraksha Plan:
PNB MetLife Serious Illness Rider
Provides additional coverage upon diagnosis of listed critical illnesses.
PNB MetLife Accidental Death Benefit Rider
Provides an additional payout in case of accidental death.
Key Benefits of PNB MetLife Mera Jeevan Suraksha Plan
Death Benefit
The PNB MetLife Mera Jeevan Suraksha Plan provides a lump sum payment equal to the sum assured in case of the death of the policyholder.
Terminal Illness Benefit
Provides a 105% accelerated death benefit if the policyholder is diagnosed with a terminal illness. This benefit is available for all plan options.
Dual Protection
This plan provides coverage against death and terminal illness, making it a robust and all-inclusive plan.
Return of Premium (ROP) Benefit
Under the Return of Premium option, if you survive the entire policy term, all paid premiums (excluding taxes) are returned.
Flexible Payout Options
The policyholder can select from various payment options, including lump-sum payout, joint life coverage, fixed income, or increasing income. This allows the insured to align the policy payment with their financial situation.
Nominee Flexibility
The PNB MetLife Mera Jeevan Suraksha Plan offers the policyholder the option to choose single or multiple nominees and select percentage entitlement for each nominee.
Maturity Benefit
If the policyholder survives the policy term, they are eligible for the maturity benefit, which is a return of premium.
Policy Surrender
If the policyholder has chosen the 'With Return of Premiums' option at the time of policy commencement, they are eligible for a surrender value after completing a specified number of policy years.
Grace Period
The PNB MetLife Mera Jeevan Suraksha Plan offers a grace period of 30 days (15 days for monthly mode) for premium payments, ensuring policy continuity.
Exclusions
- Death due to a pandemic is not covered by the company.
- Death caused by any type of adventure sports.
- Death due to the consumption of any type of drugs and alcohol.
- Death due to any pre-existing disease not declared at policy inception.
- If a policyholder commits suicide within the first 12 months of purchasing the policy, no death benefits are paid to their nominee.
