Everyone loves policies that provide additional benefits without having to procure separate plans for the same. The Mera Heart and Cancer Care Plan by PNB Metlife is a policy that provides not just health care protection but also a life cover, making this plan one of the most sought after policies available in the market today. The Mera Heart and Cancer Plan comes with other unique advantages as well, such as a zero survival period, wherein individuals can file for insurance claims as soon as they are diagnosed and payouts at various stages of illness. Individuals will also receive a balance of all the premiums that have been paid upon plan maturity. This Non-participating, non-linked health insurance plan is made in such a way that individuals receive comprehensive cover against heart diseases and all stages of cancer.
Individuals can avail the distinctive advantage of being able to customise their coverage. They opt for coverage against cancer, heart diseases or both. Individuals can avail lump sum benefits at severe, moderate and mild stages of their illness and Terminal Illness along with Inbuilt Life cover right from the first day. Policyholders can choose to procure additional income every month if they opt for the Platinum plan. In addition to the above, policyholders can receive the balance of all their premiums upon maturity, minus claims. However, the best part of this plan is that female policyholder can avail special benefits such as coverage for female specific cancer at reduced rates.
In order to avail the above plan, individuals must meet the eligibility criteria mentioned below:
|Age of entry (in years)||18||65|
|Age of maturity (in years)||28||75|
All ages are as on last birthday of the policyholder.
The Sum Assured depends on the coverage, policy tenure chosen and the premiums that are paid.
|Sum Insured - Cancer Cover (in Rupees)||Rs.5,00,000||Rs.40,00,000|
|Sum Insured - Heart Cover (in Rupees)||Rs.5,00,000||Rs.40,00,000|
|Sum Insured - Heart and Cancer Cover (in Rupees)||Rs.10,00,000||Rs.80,00,000|
|Policy tenure||10 years/15 years/20 years|
|Premium Payment Tenure||Equal to the tenure of the policy|
|Premium Payment Modes||Annually/Semi-annually/Monthly|
Individuals must note that all premiums may vary based on policy term, age, location and other factors.
Given below are all the conditions covered under the PNB Metlife Mera Heart and Cancer Plan.
|Conditions Covered||Mild Stage||Moderate Stage||Severe Stage|
Individuals will have to note that all claims will be paid in increasing order to severity within the specific cover option. In case claims are being put forth by policyholder for various stages of the same cancer at a specific time, the highest claim that is admitted under the policy will be paid. In case more than one cancer has been diagnosed, benefit will be paid under any one condition.
|Parameter||Gold Plan||Platinum Plan|
|Cancer Cover/Heart Cover/Heart and Cancer Cover||
|Maturity Benefit||In case policyholders choose the Return of Balance Premium option, he/she will receive a sum of all premiums that have been paid, minus critical illness benefits that have already been paid, at the end of the selected policy tenure. In case policyholders have chosen a without return of balance premium option, no maturity benefit is payable.|
|Premium Waiver Benefit||In case policyholder has put forth a valid ‘Mild stage’ or ‘Moderate stage’ claim under an on-going policy, all future premiums for the successive five years will be waived. This benefit will be available only in case of first claim. If the outstanding policy tenure is less than five years, all premiums for outstanding tenure will be waived.|
|Terminal Illness/Death Benefit||Death benefit will be paid on earlier occurrence of either diagnosis of Terminal Illness or Death. This Death Benefit will be the Sum Insured on death without Critical Illness claims that have already been paid.|
|Monthly Income Benefit||Not Applicable||A monthly income benefit of 1.5% of the Sum Insured will be paid additionally. This will be paid only on Severe Stage claim for a period of 5 years, from the date of the claim. This benefit will be in addition to all other benefits that have been described under the plan.|
|Special Benefits for Women||Cancers of female-specific organs such as cervical cancer, breast cancer, etc, are covered under the Cancer cover. Female policyholders can also avail special rates for the same.|
|Surrender Benefit||This benefit will be paid only if the option With Return of Balance Premium’ is chosen. After premiums have been paid regularly for a minimum of 3 full years from the date of policy commencement, Surrender Value will be paid, minus critical illness claims paid, if any. Surrender Value is a higher of Guaranteed Surrender Value and Special Surrender Value. The policy will cease on the date when surrender benefits are settled.|
|High Sum Insured Discount||
|Premium Discount||Premium discount is not offered when only Cancer Cover or Heart Cover is availed. However, if both are procured then discount is applicable, as mentioned in the table below.
|Grace Period||In case premiums are not paid on due dates, a grace period of 30 days will be available from due date of premium. The grace period for monthly mode of payment if 15 days. During this period, policy will continue to be in force.|
|Lapse||In case installment is not paid completely within the given Grace Period, the policy will lapse and cover will cease.|
|Revival||A lapsed policy can be revived within the revival period of two years from date of first unpaid premium by providing proof of insurability based on Board approved underwriting policy. All due premiums will also have to be paid along with interest at the rate prevailing at that point of time. This request will attract -
|Survival Period and Waiting Period||
|Free Look Period||In case customers are not satisfied with the policy, they have the option to return the policy along with stated reasons, within a period of 15 days from the date on policy receipt. In case the plan has been sold via distance marketing channels, such as telephone conversation or online, 30 days is the Free Look Period available. In such a case, policyholder will receive:
|Terminal Illness||Terminal Illness is stated as rapidly progressing or advanced disease wherein, according to the opinion of two independent medical practitioners’ believe that life expectancy of such an individual no longer than twelve months from date of claim notification. Terminal Illness due to AIDS is not included and the policy will cease upon payment of terminal illness benefit.|
|Premium Guarantee||These rates are guaranteed for a period of five years from policy commencement. However, these premium rates will be reviewed at every five policy years.|
This plan comes with tax benefits based on the conditions and provisions of the Income Tax Act of 1961 and are subject to changes made in tax laws. Therefore, customers are advised to contact their tax advisors prior to procuring the plan for more information regarding tax benefits.
One of the premier Life Insurance providers in the country, PNB Metlife provides customers with a multitude of products to cater to every unique need and requirement. In addition to the sheer number of plans that they offer, PNB Metlife comes with other advantages as well. These benefits are:
One of the most well-known and trusted providers of insurance, PNB Metlife has branches in more than 7000 locations. This company has insured more than a 100 million individuals throughout the world and boasts of a high claim-settlement ratio as well. PNB Metlife works in order to ensure that the lives of their customers are easy. This insurance company has partnered with a number of banks such as PNB, Jammu and Kashmir Bank Limited and Karnataka Bank Limited.
All products are easy to procure and this company strives to be the best in the field. PNB Metlife has also won numerous awards for their products and services. This company won the Celent’s Model Insurer Asia 2016 and two awards at the Asia Training and Development Excellence Awards 2016. PNB Metlife also has the distinction of winning the ‘Website of the Year’ award in Mumbai at the E-Commerce Summit and Awards.