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Overview
PNB MetLife Saral Jeevan Bima is an affordable term insurance plan that provides a guaranteed monthly income to financially protect your family in your absence. The plan offers death and maturity benefits, easy enrollment without medical tests, and premiums starting from just ₹177 per month.
It also offers flexible policy terms from 5 to 40 years, along with single pay, limited pay, and regular pay premium options. The minimum entry age is 18 years, and the maximum is 65 years.
Key Benefits of PNB MetLife Saral Jeevan Bima Plan
- Family Protection
- Multiple Premium Payment Options
- Choice of Policy Term
- Tax Benefits as per prevailing laws
- Available Online
- Death Benefit
Family Protection
Protect your family from any financial losses that may arise in your absence.
Choice of Policy Term
Choose to stay protected for a fixed term ranging from 5 years to 40 years.
Flexible Premium Payment Term
With flexible premium payment options, you can choose to pay for a limited period, a one-time payment, or throughout the policy term.
Easy Enrolment
PNB MetLife Saral Jeevan Bima offers quick issuance and is available online.
Riders Associated with PNB MetLife Saral Jeevan Bima Plan
You can add the following riders to your PNB MetLife Saral Jeevan Bima Plan:
PNB MetLife Critical Illness Rider
This rider provides payment of an additional amount upon the diagnosis of 10 critical conditions.
PNB MetLife Terminal Illness Rider
This rider offers additional benefits if the policyholder is diagnosed with any of the terminal illnesses mentioned in the brochure.
PNB MetLife Waiver of Premium Rider
This rider ensures that future due premiums are waived off in case of total and permanent disability of the life assured.
Exclusions
- Death due to a pandemic is not covered by the company.
- Death caused by any type of adventure sports.
- Death due to consumption of any type of drugs and alcohol.
- Death due to any pre-existing disease that was not mentioned at the start of the policy.
- If a policyholder commits suicide within the first 12 months of purchasing the policy, no death benefits are paid to their nominee.
Plan Features
Death Benefit
In case of accidental death for Regular Premium or Limited Premium, the death benefit offered by PNB MetLife Saral Jeevan Bima will be the higher of 10 times the Annualized Premium, 105% of all premiums paid as of the date of death, or the Absolute amount assured to be paid on death.
Maturity Benefit
PNB MetLife Saral Jeevan Bima is a pure term insurance plan and does not provide any maturity benefit to customers.
Tax Benefit
Insurance holders can avail of tax benefits for the premiums paid towards PNB MetLife Saral Jeevan Bima as per the Income Tax Laws under Sections 80C and 10(10D) of the Income Tax Act, 1961.
Revival
If PNB MetLife Saral Jeevan Bima has lapsed due to non-payment of premiums within the grace period, it can be revived during the lifetime of the life assured, but within the 5-year revival period and before the date of maturity.
