PNB MetLife Term Insurance: PNB MetLife Insurance, a leading life insurance provider in India, offers an array of term insurance plans to cater to the diverse financial needs of its customers. Backed by the reputed Punjab National Bank and MetLife International Holdings, PNB MetLife Insurance combines the trust of an established Indian bank with the global expertise of an insurance giant to provide comprehensive and affordable term insurance solutions to individuals and families.
In this in-depth guide, we will discuss the various term insurance plans offered by PNB MetLife, their features and benefits, eligibility criteria, and the application process. Additionally, we will explore the PNB MetLife maturity calculator and the popular PNB MetLife Mera Term Plan.
PNB MetLife Term Insurance Plans: Overview
PNB MetLife offers a wide range of term insurance plans, each designed to meet specific financial requirements and preferences of customers. Here are the nine term insurance plans currently available:
● PNB MetLife Mera Term Plan
● PNB MetLife Saral Jeevan Bima
● PNB MetLife Mera Term Plan Plus
● PNB MetLife POS Suraksha Plan
● PNB MetLife Mera Mediclaim Plan
● PNB MetLife Aajeevan Suraksha Plan
● PNB MetLife Income Protection Plan
● PNB MetLife Mera Jeevan Suraksha Plan
● PNB MetLife Family Income Protector Plus
PNB MetLife Mera Term Plan
PNB MetLife Term Insurance: The PNB MetLife Mera Term Plan is an online term insurance plan offering customizable coverage options at affordable premiums. The plan provides financial protection to the policyholder’s family in the event of their demise. Some of the key features and benefits of this plan include:
● Regular Pay option for premium payment throughout the policy term
● Online availability, ensuring a hassle-free purchase experience
● Four death benefit payout options, including lump sum and staggered payment options, to cater to different family needs
● Life Stage Benefit feature, allowing policyholders to purchase additional coverage at significant life milestones without undergoing medical examinations
● Joint Life Cover, enabling coverage for the policyholder and their spouse under the same plan
● Preferential premium rates for non-smokers
● Tax benefits on premium payments and claim payouts as per applicable laws

Eligibility: PNB MetLife Term Insurance

Criteria Minimum Maximum
Entry Age 18 years 65 years
Maturity Age – 75 years
Policy Term 10 years 40 years
Sum Assured Rs. 10 lakhs Rs. 500 crores
Annual Premium Depends on coverage, age, and tenure –
Premium Payment Term Equal to policy term –
Premium Payment Frequency Yearly or monthly –

PNB MetLife Family Income Protector Plus Plan
This term insurance plan aims to provide financial stability to the policyholder’s family through monthly payouts in case of their death. The plan offers a choice between Term Cover and Term with Return of Premium coverage options. Some notable features and benefits of the plan include:
● Regular Pay option for premium payment throughout the policy term
● Death benefit payout in the form of monthly instalments over a predetermined period, depending on the chosen plan tenure
● Maturity benefit in the form of 110% of total premiums paid for the Term with Return of Premium option
● Tax benefits on premium payments and claim payouts as per applicable laws

Eligibility Criteria: PNB MetLife Term Insurance

Criteria Minimum Maximum
Entry Age 25 years 60 years
Maturity Age – 75 years
Policy Term 10, 15, or 20 years –
Sum Assured Rs. 9.10 lakhs Rs. 1.42 crores
Monthly Income Rs. 10,000 Rs. 1 lakh
Annual Premium Rs. 2,920 Rs. 629,670
Premium Payment Term Equal to policy term –
Premium Payment Frequency Yearly, half-yearly, or monthly –

Applying for PNB MetLife Term Insurance Plans
There are two primary methods to apply for PNB MetLife term insurance plans:
Online Application: PNB MetLife Term Insurance
PNB MetLife offers specific term insurance plans that are available exclusively online. To apply, customers need to visit the company’s website, select the desired plan, provide the required details, and calculate the premium. Customers can then make the premium payment using credit card, debit card, or net banking facilities, following which the policy will be issued.
Application through Intermediaries
For plans not available online, customers can approach agents, brokers, or banks to assist with the application process.
PNB MetLife Maturity Calculator
The PNB MetLife maturity calculator is a useful online tool that allows customers to estimate their maturity benefits based on the policy term, premium payment frequency, and other factors. By using this calculator, customers can make informed decisions about the suitable term plan and coverage amount to meet their financial goals.
PNB MetLife Claim Settlement Ratio
One of the key factors to consider while choosing a term insurance provider is the claim settlement ratio. PNB MetLife boasts an impressive claim settlement ratio of 98.17% (FY 2019-20), reflecting the company’s commitment to providing timely financial assistance to policyholders and their families.

Final Thoughts: PNB MetLife Term Insurance
PNB MetLife Insurance offers a comprehensive suite of term insurance plans that cater to the diverse financial needs and preferences of individuals and families.
With a strong claim settlement ratio, extensive coverage options, and affordable premiums, PNB MetLife term insurance plans are a reliable choice for those seeking financial security for their loved ones.
Moreover, the PNB MetLife maturity calculator and the popular PNB MetLife Mera Term Plan make it even easier for customers to find the right coverage and plan to suit their needs.
Frequently Asked Questions
Why should I choose PNB MetLife term insurance plans?
PNB MetLife is a reliable and well-established life insurance provider with a strong claim settlement ratio of 98.17% (FY 2019-20). The company offers a wide range of term plans that cater to various financial needs and preferences, along with providing coverage up to 85 years of age.
Can I obtain coverage under PNB MetLife term insurance plans if I am a smoker or use tobacco?
Yes, however, premiums for smokers are generally higher than those for non-smokers.
What is the toll-free customer care number for PNB MetLife Insurance?
The 24×7 toll-free customer care number for PNB MetLife Insurance is 1800-425-6969.
What is the grace period for PNB MetLife Insurance policies?
A 30-day grace period from the premium due date is allowed as per the guidelines set by the Insurance Regulatory Authority of India

 

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