A term insurance policy is one of the most basic forms of life insurance. Term insurance policies offer a risk cover against death of the life assured for a specific tenure. If the life assured passes away during this period, a benefit or payout is provided to the nominee. Off late, term insurance policies have become extremely popular since they are more cost-effective than other types of life insurance products.
While most term insurance policies offer coverage for a policy tenure ranging between 5 years and 40 years, insurance providers nowadays are coming up with innovative term insurance offerings that offer coverage for a much longer tenure. One such term insurance offering is the PNB MetLife Mera Term Plan that offers coverage to the insured individual up to the age of 99 years.
The PNB MetLife Mera Term Plan is a non-participating, non-linked, term insurance policy that offers pure protection benefits to the life assured. This policy can be purchased on a Joint Life Cover basis, wherein the coverage will be extended to the policyholder’s spouse as well. The Mera Term Plan is a customisable policy that offers a number of death benefit payout options to meet the varied financial needs of different policy buyers. The key benefit of this policy is that policyholders can avail coverage up to 99 years of age. Under the Joint Life Cover option, coverage can be availed up to 75 years of age. This extended coverage ensures that you, the policyholder, are always able to provide financial security to your dependents. Further, prospective policy buyers can directly purchase this policy on the insurer’s official website.
Purchasing a life insurance policy is a must if you want to provide financial security to your dependents. Opting for a term insurance plan like the PNB MetLife Mera Term Plan that offers coverage for up to 99 years of age is a smart way to offer security to your dependents in a cost-efficient manner.
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