• PNB MetLife Insurance - Read Expert Reviews, Compare & Buy Plans Online

    Life Insurance
    • Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
    • Claim up to Rs. 1,50,000 deduction under section 80C**
    • Choose between annual and monthly premium payment options

    Having started its operation in 2001,PNB MetLifehas been one of the fastest growing insurance companies in the country with offices in over 150+ locations. The company has a strong product line up with life insurance plans suitable for people with different requirements. Customers can choose from protection plans, savings plans, wealth plans, retirement plans, child plans, etc. In addition to individual plans, PNB MetLife also offers group plans for corporate customers to provide coverage for their employees. Let’s take a look at various aspect of the company and the different plans it offers.

    Highlights of PNB MetLife Insurance Updated on 26 Jun 2019

    Percentage of Grievances Solved 98.32%
    Claim Settlement Ratio 82.40%
    Group Death Claims 97.35%
    Solvency Ratio 2.02 (for the quarter ended March 2018)

    Products and Services offered by PNB MetLife

    PNB MetLife has a massive portfolio of insurance products which are divided 9 different categories. Below is a list of all the products offered by the company:

    Online Protection Plans Offline Protection Plans Savings Plans Retirement Plans Group Plans
    PNB MetLife Mera Term Plan PNB MetLife POS Suraksha PNB MetLife Endowment Savings Plan Plus PNB MetLife Immediate Annuity Plan
    PNB MetLife Mera Heart and Cancer Care PNB MetLife Mera Jeevan Suraksha PNB MetLife Guaranteed Increasing Income Plan PNB MetLife Retirement Savings Plan PNB MetLife Bima Yojana – (Group Microinsurance)
    PNB MetLife Serious Illness Rider PNB MetLife Family Income Protector Plus PNB MetLife Mera Wealth Plan PNB MetLife Superannuation Plan PNB MetLife Complete Care Plus
    MetLife Accidental Death Benefit Rider Plus PNB MetLife Grameen Ashray PNB MetLife Guaranteed Income Plan PNB MetLife Traditional Employee Benefits Plan PNB MetLife Group Term Life Plus
    MetLife Accidental Disability Benefit Rider MetLife Accidental Death Benefit Rider Plus PNB MetLife Guaranteed Savings Plan PNB MetLife Unit Linked Employee Benefit Plan PNB MetLife Loan and Life Suraksha
    MetLife Critical Illness Rider PNB MetLife Serious Illness Rider PNB MetLife Whole Life Wealth Plan PNB MetLife Pradhan Mantri Jeevan Jyoti Bima Yojana
    PNB MetLife Smart Platinum PNB MetLife Complete Loan Protection Plus
    PNB MetLife Money Back Plan PNB MetLife Group Accidental Permanent & Total Disability Plus
    PNB MetLife Bachat Yojana PNB MetLife Group Accidental Death Benefit Plus
    PNB MetLife Bhavishya Plus PNB MetLife Group Accidental Permanent & Partial Disability Plus
    PNB Metlife College Plan PNB MetLife Group Serious Illness Rider
    PNB MetLife Dhan Samriddhi Plan
    PNB MetLife Income Protection Plan
    PNB MetLife Monthly Income Plan – 10 Pay
    PNB MetLife Smart Child
    PNB MetLife Smart One

     

    PNB MetLife Protection Plans:

    Protection plans are also known as term plans, which offer insurance coverage for a time period specified in the policy. Here’s a list of all the protection plans offered by MetLife:

    • PNB MetLife Mera Term Plan
    • PNB MetLife Family Income Protector Plus

    PNB MetLife Health Plans:

    Health plans are those insurance plans which help individuals to take care of their healthcare related expenses. Below are the health plans offered by MetLife:

    • MetLife Critical Illness Rider
    • MetLife Accidental Disability Benefit Rider
    • MetLife Accidental Death Benefit Rider Plus

    PNB MetLife Child Plans:

    Child plans are those insurance plans which help take care of any future needs related to a child including their education and marriage. Plans under this category are as follows:

    • PNB MetLife Money Back Plan
    • PNB MetLife Bhavishya Plus
    • MetLife Smart Platinum
    • PNB MetLife College Plan
    • PNB MetLife Smart Child

    PNB MetLife Savings Plans:

    Savings plans are those which help individuals save while also offering a base insurance coverage to a policyholder and their family. Here are the plans sold under this category:

    • PNB MetLife Money Back Plan
    • PNB MetLife Bachat Yojana
    • PNB MetLife Guaranteed Savings Plan
    • PNB MetLife Guaranteed Income Plan
    • PNB MetLife Bhavishya Plus
    • MetLife Endowment Savings Plan

    PNB MetLife Rural Plans:

    Rural plans are those plans which are available for the rural populace and are designed to cater to meet their needs and requirements. Here are all of the rural plans listed for you:

    • PNB MetLife Bachat Yojana
    • MetLife Grameen Ashray
    • PNB MetLife Bhavishya Plus

    PNB MetLife Wealth Plans:

    MetLife also offers plenty of wealth plans wherein, upon choosing, policyholders get to invest a in mutual funds on a timely basis. Plans under this category are as follows:

    • MetLife Mera Wealth Plan
    • MetLife Smart Platinum
    • MetLife Smart One

    PNB MetLife Retirement Plans:

    MetLife has a massive roster of retirement plans individuals can invest in. These include:

    • PNB MetLife Dhan Samriddhi Plan
    • MetLife Retirement Savings Plan
    • PNB MetLife Immediate Annuity Plan
    • PNB MetLife Monthly Income Plan - 10 Pay
    • PNB MetLife Money Back Plan
    • PNB MetLife Bachat Yojana
    • MetLife Mera Wealth Plan
    • MetLife Smart Platinum

    PNB MetLife Group Plans:

    MetLife also has a few group plans which cater to specific requirements of large and small corporations. These plans are as follows:

    • PNB MetLife Unit Linked Employee Benefit Plan
    • PNB MetLife Traditional Employee Benefits Plan
    • PNB MetLife Superannuation
    • PNB MetLife Loan and Life Suraksha
    • PNB MetLife Group Term Life Plus
    • PNB MetLife Complete Care Plus

    Note: Some of the plans listed above may appear under multiple categories. This is because these plans offer dual benefits and so are an effective part of all categories they are listed under.

    Company Location - Where you can find MetLife Offices?

    PNB MetLife has its offices in over 150 locations in the country. Below is a tabular column that lists out all the key branches in the country and their contact information.

    State Branch Customer Care Number
    Andhra Pradesh Elluru 1800-425-6969 08812-644035/36/37
    Guntur 1800-425-6969 0863-6450120
    Kakinada 1800-425-6969 0884-6450519
    Kurnool 1800-425-6969 08518-645923
    Rajamundry 1800-425-6969 0883-6572022
    Tirupati 1800-425-6969 0877-6453011
    Vijayawada 1800-425-6969 0866-6603000
    Vizag 1800-425-6969 0891-6603200
    Assam Guwahati 1800-425-6969 0361-2348837
    Jorhat 1800-425-6969 9181140103
    Silchar 1800-425-6969 03842-212444
    Bihar Chhapra 1800-425-6969 06152-242189
    Gaya 1800-425-6969 0631-2222360
    Patna 1800-425-6969 0612-2501849
    Chandigarh Chandigarh 1800-425-6969 0172-4900500
    Chhattisgarh Raipur 1800-425-6969 0172-4900500
    Goa Panjim 1800-425-6969
    Gujarat Ahmedabad 1800-425-6969 079-69000290/079-69000291
    Gandhinagar 1800-425-6969 079-65720168
    Karnataka Bangalore 1800-425-6969
    Mysuru 1800-425-6969 0821-6450222
    Kerala Kochi 1800-425-6969 0484-6500174
    Trivandrum 1800-425-6969 0484-6500174
    Madhya Pradesh Indore 1800-425-6969 0731-2545848
    Bhopal 1800-425-6969 0755-6500115
    Maharashtra Mumbai - Ghatkopar 1800-425-6969 022-69001477
    Mumbai - Goregaon West 1800-425-6969 022-41790000
    Mumbai - Lower Parel 1800-425-6969 022-66630900
    Pune 1800-425-6969 020-66812727
    Delhi New Delhi- Janakpuri 1800-425-6969 011-64730127
    New Delhi - KarolBagh 1800-425-6969 011-69400115
    New Delhi - Nehru Place 1800-425-6969 011-69400101
    New Delhi - Rohini 1800-425-6969 9213021215/6
    New Delhi- Vishwas Nagar 1800-425-6969 011-64501900
    Haryana Gurgaon - Sector 15 1800-425-6969 011-64501900
    Sector -47 1800-425-6969 0124-4179000
    Customers can also contact the number 91-80-26502244 (from 8:00 a.m. to 8:00 p.m.) to access the customer service department of PNB MetLife. Customers can access the IVR service 24*7 by providing their policy details.

    Awards Won by PNB MetLife:

    As a company PNB MetLife has won plenty of awards in both Indian and international levels. Below is a list of some of the awards the company has won so far.

    • ‘Technology Innovation Award’ at Fintelekt Insurance Awards 2017 in the Life Insurance category
    • ‘Technology Initiative of the year’ for excellence in insurance at the National Awards 2017
    • ‘Innovation of the Year’ at the 21st Asia Insurance Industry Awards 2017 held in Singapore
    • ‘BSFI Digital Innovation Award’ in the VR Category by the Indian Express Group 2017
    • Working Mother and AVTAR 100 Best Company For Women Award 2016
    • Best Education Training Campaigns and Programs Award at Asia Training and Development Excellence Awards 2016
    • Celent’s Model Insurer Asia Award 2016
    • Excellence in Growth Awards at indian Insurance Awards 2012

    PNB MetLife - Board of Directors and Shareholding Pattern:

    PNB MetLife has plenty of experienced professionals who form the crux of the company’s management. Here’s a list of all the key members from the upper echelons of the company.

    • Ashish Kumar Srivastava - Managing Director and Chief Executive Officer
    • Niraj Shah - Chief Financial Officer
    • Sanjay Kumar - Chief Investment Officer
    • Sarang Cheema - Chief Compliance Officer
    • Anjan Bhattacharya - Chief Risk Officer
    • Vijay Nene - Director & Head - Operations & Services
    • Nipun Kaushal - Chief Marketing Officer
    • Yagya Turker - Company Secretary and Compliance Officer
    • Samrat Das - Chief Information Officer

    Below is the Shareholding Pattern of the Company:

    Shareholders Percentage of share held
    Punjab National Bank 30%
    MetLife 26%
    Jammu and Kashmir Bank 5%
    M Pallonji and Co. 18%
    ElPro International 21%

    Claim Settlement Ratio

    As data suggests, PNB MetLife has a decent claim settlement ratio. Here is a table that lists out the number of claims the company has settled during the 2017-18 financial year:

    Claims received Claims settled % of claims settled
    4,089 3,726 82.40%

    Trend of PNB MetLife claim settlement for from 2009 to 2017

    Year 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18
    Claim settlement % 83% 85% 81% 84% 90% 93% 85% 87% 82%

    How to Settle a Life Insurance Claim with PNB MetLife?

    PNB MetLife follows three simple steps to settle claims made by its policyholders. These three steps are as follows:

    Step 1: Modes of communication

    The policyholder or the nominees need to establish communication with the company and start the claim process with any of these modes such as a letter, fax, and email.

    Step 2: Submission of required documents

    Before settling a claim, PNB MetLife requires the claimant to provide some supporting documents. The documents required varies depending on the type of claim being made. Here is a list of documents required:

    • For Death:

    If the person assured passes away, here are the documents that should be submitted:

      • Death certificate
      • Original policy document/ Indemnity bond in case the policy document is lost
      • Statement from the family physician
      • Statement from the last attending physician
      • Claimant’s statements
      • ID proof and address proof of the claimant
      • Cancelled passbook or cheque leaf of the claimant
    • For accidental death:

    If the person assured dies due to an accident within the period mentioned in the insurance policy, the following documents need to be submitted:

      • Death certificate
      • Original policy document/ Indemnity bond in case the policy document is lost
      • Statement from the family physician
      • Statement from the last attending physician
      • Claimant’s statements
      • ID proof and address proof of the claimant
      • Cancelled passbook or cheque leaf of the claimant
      • Copy of FIR/Panchnama/Inquest report
      • Copy of postmortem report
      • Copy of newspaper report, if there is any
    • Critical Illness:

    These are the documents that should be submitted if the person assured dies due to a critical illness:

      • Claimant’s statement
      • Summary of discharge by the hospital and copies of other hospital records
      • Statement from the last attending physician
      • Original policy document
      • Cancelled passbook or cheque leaf of the person assured
    • For Waiver of Premium:

    If the claimant is requesting for a waiver of premiums, the following documents should be submitted:

    • Claimant’s statement
    • Statement from the last attending physician
    • Original policy document
    • Copies of treatment and diagnosis reports
    • Disability report attested by a civil surgeon or any competent authority
    • Certificate mentioning the current health situation
    • FIR attested by the SHO of the nearest police station
    • Cancelled passbook or cheque leaf of the person assured
    • For Met Healthcare:

    MetLife offers Met Healthcare, a specialised treatment facility for policyholders who specifically opt for it. Documents required for claims under this include:

    • Certificate from the hospital
    • Cash benefit claim form from the hospital
    • Admission notes provided by the hospital
    • Discharge summary
    • Bills of all the cash paid
    • Cancelled passbook or cheque leaf of the person assured

    News about PNB Metlife Insurance

    • PNB MetLife may get listed in the second quarter of the year 2020

      The initial public offering (IPO) of PNB MetLife may happen in the second quarter of the financial year 2020 so that the insurer’s issue can get a positive response from the retail and other investors.

      The reason why the insurer has pushed for the year 2020 during which the IPO will take place is because of the general elections which are scheduled this year in April. This is the time when foreign investors are not willing to invest and thus the insurer has pushed for the FY20 during which they will get listed.

      The insurer who had filed its draft red herring prospectus (DRHP) for the IPO with the Securities and Exchange Board of India in July 2018 received the green signal to go ahead in November 2018.

      8 March 2019

    • PNB MetLife Insurance teams up with ESAF SFB to improve distribution of its products

      In order to expand the distribution of their life insurance products, Life Insurer PNB MetLife has teamed with ESAF SFB. The move was to ensure that the life insurance products rolled out by PNB MetLife are accessible to the rural population, areas where ESAF SFB has its presence. The move to collaborate with ESAF SFB was approved by the Insurance Regulatory Development Authority of India. According to the CEO of PNB MetLife Insurance, the company has always believed in inclusive growth and looked for ways to expand its reach. We are delighted to partner with ESAF SFB and offer our wide range of unique products to their customer base. We look forward to this journey together and hope to provide more customers with PNB Metlife’s insurance products. With presence in already 107 locations in the country, and selling their life insurance products in 11,000 bank branches with Punjab National Bank, Karnataka Bank, Jammu and Kashmir Bank and so on, ESAF SFB is the latest bank that the life insurer has teamed up with. An official of the life insurer said, We have got the go-ahead from regulator and we are in talks with our bankers when to launch the IPO. That said, it has not yet been decided whether we will come out in this financial year or next year.

      10 January 2019

    • PNB Metlife to be fourth life insurer to be listed

      The Securities and Exchange Board of India (SEBI) gave a go-ahead to PNB Metlife to make its Initial Public Offering (IPO). Once it floats the IPO, the life insurance company will be the fourth insurer in the country to be listed. ICICI Prudential, SBI Life Insurance, and HDFC Life are the three other companies that were listed previously. PNB Metlife had filed its draft with SEBI in July last year and was given the green light by SEBI on November 2 to float its IPO. SEBI provided its observations the same day. The observations given by SEBI are crucial for any company such as this that plans to float an IPO. As per the draft paper provided by PNB, the stake dilution will be at 24.46% with a sale of under 496 million shares. While PNB will offer a little more than 80 million shares in the initial public offering, Metlife is expected to offload over 129 million stocks. PNB Metlife is a joint venture between PNB, Metlife, J&K Bank, M Pallonji & Co, and Elpro International. According to PNB’s draft paper, the plan to float an IPO will increase liquidity among shareholders and help in the branding of the insurance company.

      9 November 2018

    • #MakeTime - New insurance awareness campaign by PNB MetLife

      A new ad campaign has been launched by PNB MetLife to promote greater awareness about the need of life insurance. This digital campaign drives home the point that a life insurance is a need for every consumer to safeguard the future of their family. The campaign has been titled as #MakeTime and the video is available on Youtube, while being simultaneously promoted via the various social media channels of PNB MetLife.

      The ad film, whose main theme is ‘protection’, has been created by Anaiah Films. The ad takes a humorous route to depict a family’s preparations for a bleak financial future in absence of life insurance after the death of the family patriarch.

      The ad has been conceptualised and carried out by the digital agency of PNB MetLife called ‘Social Kinnect’. It depicts a Mr. Sharma holding a prayer meeting in memory of his late musician father. Without giving away the punchline, the ad tries to urge people to “Make Time” to protect the future of their families by highlighting the importance of financial planning.

      The ad especially markets the PNB MetLife’s ‘MetLife Mera Term Plan’. With this ad campaign, PNB MetLife wishes to change the prevalent Indian mindset that insurance needs to be an investment, not just a safety tool in case of unfortunate circumstances.

      16 May 2017

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