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  • Pnb Metlife Term Insurance Plans

    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

    Buying the perfect life insurance can be a difficult decision to make taking into consideration the wide range of products available in the market today. A term plan provides adequate coverage for very low costs. The premiums are affordable while the sum assured is much higher, and this is due to the fact that most term plans do not carry any maturity benefits. A term plan can help you secure financial independence for your family after you are no more. PNB MetLife also offers joint life benefit that allows you to add your spouse to the plan.

    Benefits of PNB MetLife Term Plans

    When you take out a term plan from PNB MetLife, you can benefit from the following:

    • Buy additional cover at different life stages. No medical examination is required.
    • Insure your better half as well under the same policy.
    • The premium payment term is equal to the policy term.
    • Policy terms are available between 10 and 40 years.
    • Be insured for a minimum of Rs.10 lakhs.
    • Extend your coverage up to the age of 75 years.
    • 30-day free-look period.
    • Lower rates for non-smokers.

    Term Plans on Offer from PNB MetLife

    MetLife Mera Term Plan:

    PNB MetLife offers one online term plan called MetLife Mera Term Plan that offers a host of benefits to policyholders. You need to be at least 18 years old to avail this policy. The maximum age at entry cannot exceed 65 years. Under this plan, the policyholder can opt for a minimum sum assured of Rs.10 lakhs. The following are the benefits payable under this plan:

    Death Benefit Policyholders can choose from four options on how they would like their nominees to receive the benefits:

    • Total Lump Sum Payout
      • Upon the death of the policyholder, the entire sum assured will be paid to the nominee.
    • Payout as Lump Sum plus Regular Monthly Income
      • 50% of the sum assured will be paid to the nominee upon the death of the life insured. The remainder will be given as monthly income for 120 months/10 years. The income will remain level at 0.58% of the base sum assured.
    • Payout as Lump Sum plus Increasing Monthly Income
      • 50% of the sum assured will be paid to the nominee upon the death of the life insured. The remainder will be given as monthly income for 120 months/10 years. The income will increase at 12% p.a. (simple interest). The first monthly income will be taken as 0.39% of the base sum assured.
    • Payout as Lump Sum plus Regular Monthly Income till child turns 21
      • This option is available to customers whose child’s age does not exceed 15 years. 50% of the sum assured will be paid to the nominee upon the death of the life insured. The remainder will be given as level monthly income till the child reaches the age of 21 years.

    Riders

    Enhance your level of protection by opting for riders available with this plan.

    • Accidental Death cover
    • Accidental Disability cover
    • Cancer & Heart Attack cover
    • 10 Serious Illnesses cover
    Plan Name Entry Age Maturity Age Premium
    MetLife Mera Term Plan 18 years to 65 years 75 years Lump sum - Rs.683 per month for Rs.1 crore cover Lump sum + income - Rs.607 per month for Rs.1 crore cover Lump sum + increasing income - Rs.596 per month for Rs.1 crore cover Lump sum + income till child turns 21 - Rs.567 per month for Rs.1 crore cover

    Why should you buy a Term Plan from PNB MetLife?

    Founded in 1868, MetLife has catered to over 100 million customers around the globe. In association with Punjab National Bank, MetLife offers its services and products in India. They take pride in their approach of “Our customer First Approach”, and was awarded the “World’s Most Admired Company” among life and health insurers in 2015 by Fortune magazine.

    If you have dependents and feel the need to ensure they are financially protected in case of your untimely demise, then a term plan is an ideal investment. Term plans give you the opportunity to pay low premiums for your life insurance and divert your money into other more fruitful investments.