PNB Metlife Mera Term Plan Plus
  • Comprehensive coverage
  • Plan enhancement options
  • Customizable plans
PNB Metlife Term Insurance
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PNB Metlife Mera Term Plan Plus

PNB MetLife Mera Term Plan Plus is a protection plan that provides you and your family with a comprehensive life coverage at a very nominal cost. The plan offers you the flexibility to choose protection against Death, Critical Illness, Disability, and Terminal Illness along with various additional options like spouse coverage and whole-life protection. Individuals who purchase PNB Metlife Mera Term Plan Plus can also customize their coverage with various cover enhancement options available under the plan.

Mera Term Plan Plus offers policyholders 3 benefit options namely, Life, Life Plus, and Life Plus Health making the plan customizable for each and every individual and their needs. Additionally, PNB Mera Term Plan Plus has multiple benefits such as step-up benefit, life stage benefit, child education support benefit, and additional riders.

PNB Metlife Mera Term Plan Plus Specifications

Entry Age

18 years to 60 Years

Sum Insured

Min: 25 lakh
Max: No Limit, subject to underwriting

Maturity Age

Min: 28 Max:99

Policy Term (Months)

10 to 40/99-Age at entry

Premium payment mode

Yearly / Half Yearly / Quarterly / Monthly

Read more specifications in the brochure.

Key Features of PNB Metlife Mera Term Plan Plus

PNB Metlife safeguards your family’s financial independence even in your absence. It is a great plan to secure your children’s higher education without any financial worries, stay protected for your whole life or choose a coverage term. With many more key features, mera term plan plus is a good option.

  • Plan Options : A policyholder gets the choice to choose a plan option suitable to their needs as PNB Metlife Mera Term Plan Plus offers 3 different options namely Life, Life Plus and Life Plus Health. The life plan option offers the policyholder a death benefit while Life plus comes with an added terminal Illness Benefit and Waiver of premiums on Accidental Total Permanent Disability or diagnosis of Critical Illness. Life Plus Health benefit offers all the advantages similar to life plus along with an accelerated critical illness benefit.
  • Flexible Payout Options: A policyholder can choose to receive their benefits as a lump sum, monthly income over a period of 10 years, or as a combination of both income and lumpsum.
  • Return of Premiums: Policyholders can choose to get back all the premiums paid on survival till maturity under Mera Term Plan Plus.
  • Spouse Coverage: On payment of an additional premium a policyholder has the option of covering their spouse under the same plan.

Benefits of PNB Metlife Mera Term Plan Plus

There are multiple benefits offered by PNB Metlife which are mentioned below.

  • 99 years of coverage : Mera Term Plan Plus is a specially designed protection plan that provides life cover till the age of 99 years even as you choose to pay premiums for a limited period. Policyholders can choose to stay protected for the whole of life (coverage up to age 99 years).
  • Step-up Benefit: Under this feature the policyholder can choose the Step-up sum assured to be added at every Policy Anniversary starting from the first Policy Anniversary for the next 10 years. Step-up Sum Assured is equal to Step-up Rate multiplied by Basic Sum Assured. Step-up Rate is fixed at 10%. The Step-up sum assured as well as the additional premium, will apply prospectively for the remaining Premium Paying Term.
  • Life Stage Benefit : Under this Benefit, the Policyholder may opt to increase the sum assured at various Life stages such as marriage, birth or adoption of 1st child, birth or adoption of 2nd child, or Home loan taken by the Life Assured after the Date of Commencement of Risk (only once during the policy term). However, the maximum additional sum assured put together under all these events will be Rs. 50 Lakhs.
  • Child Education Support Benefit : Under this Benefit, the Policyholder may opt to increase the sum assured with a specific focus to provide for the cost of education of one child of the Life Assured. This Benefit can only be opted for on or before the Date of Inception of the Policy. This option can be chosen only if the nominated child has 5 to 19 years of education left for the completion of a graduate degree. This additional sum assured is subject to a minimum of Rs 10 lakh and a maximum of Rs 1 cr.
  • Additional Riders : Under Mera Term Plan Plus a policyholder gets to opt from the following riders:
    • PNB Metlife Accidental Death Benefit Rider
    • PNB Metlife Serious Illness Rider
    • PNB Metlife Critical Illness Rider
    • PNB Metlife Accidental Disability Benet Rider

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PNB Metlife Mera Term Plan Plus Plan Options

There are a total of 3 plan options available under the Mera Term Plan Plus. All these options offer different types of features. Given below is a brief overview of all these plan options.

  • Life Option: PNB Metlife Mera Term Plan Plus Life option is a pure protection cover and only covers the insured individual against Death providing the legal heir/nominee with a sum assured as a lump sum.
  • Life Plus Option: Life Plus is a cover against death and terminal Illness plus all future premiums are waived off on accidental permanent disability or diagnosis of listed critical illnesses.
  • Life Plus Health Option: This cover option gives the policyholder protection 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.

PNB Metlife Mera Term Plan Plus Premium Table

1 Without Return of premiums

Age/Benefit Option Life Life Plus Life plus Health
30 9,600 10,200 16,500

2 With the Return of premiums

Age/Benefit Option Life Life Plus Life plus Health
30 23,200 26,600 42,400

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PNB Metlife Mera Term Plan Plus: FAQs

1. What is PNB Metlife Mera Term Plan Plus?

PNB Metlife Mera Term Plan Plus is a versatile protection plan that offers 3 benefit options such as Life, Life Plus, and Life plus Health along with various other additional benefits such as step-up benefit, child education support benefit, Accelerated Critical Illness benefit and more.

2. What are the additional benefit available with Mera Term Plan Plus?

The additional benefits offered under Mera Term Plan Plus are:

  • Spouse Coverage: to protect your spouse within the same plan
  • Return of Premiums: get back all premiums on survival till maturity

3. What is the Spouse Coverage in PNB Metlife Mera Term Plan Plus?

Under Mera Term Plan Plus, the spouse is referred to as the “Second Life” and the policyholder is referred to as the “First Life”. Only the Death Benefit is offered to the Second Life and the Sum Assured on the Death of the Second Life shall be payable in lumpsum only. To avail of this benefit, the Basic Sum Assured with respect to the First Life should be equal to or greater than Rs. 50 Lakhs. The coverage to the Second Life shall be up to 100% of the Basic Sum Assured of the First Life, subject to Our Board approved underwriting guidelines.

4. What is the entry age for Mera Term Plan Plus?

The minimum entry age for Mera Term Plan Plus is 18 years and the maximum entry age is 60 years.

5. What are the riders available under Mera Term Plan Plus?

Under Mera Term Plan Plus a policyholder gets to opt from the following riders:

  • PNB Metlife Accidental Death Benefit Rider
  • PNB Metlife Serious Illness Rider
  • PNB Metlife Critical Illness Rider
  • PNB MetLife Accidental Disability Benet Rider

PNB Metlife Term Insurance Reviews

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

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Piyush

Raipur

May 1, 2023

I seek help from PolicyX when it comes to purchasing any kind of insurance because they provide me with the best quotes and options for insurance

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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