PNB MetLife Term Insurance Plans
PNB MetLife is one of India’s leading private insurance companies that offer different types of term plans for customers. Founded in 2001, it provides high protection for a family from sudden death and other problems. It aims at providing excellent services for policyholders to minimize financial problems during unexpected events. The term insurance plans offered by MetLife are carefully tailored according to the needs of a policyholder backed by the latest features and benefits.
Term Insurance plans offered by PNB MetLife Insurance
PNB MetLife Insurance offers 3 different term insurance plans, carefully designed to offer comprehensive coverage at affordable premiums. The term insurance plans secure your loved ones against uncertain times.
- PNB MetLife Mera Term Plan: The plan is ideal for those who want to safeguard their family and children in their absence. It provides a maximum maturity age of 99 years for the policyholder. Apart from that, a policyholder can get a joint-life benefit after including a spouse in the policy. The policy enables children to pursue their dream careers and goals without any hassles. Moreover, the minimum sum assured amount offered by the plan is Rs 10 lakhs, and a policyholder can even opt for a rider to get more benefits. On the other hand, the joint-life cover option offers a maximum maturity age of 75 years. Another thing about the plan is that it provides customizable pay-out options, and customers can choose four pay-out options.
- PNB MetLife Family Income Protector Plus Plan: The policy offers flexible monthly income options starting from Rs. 10,000 monthly income for a guaranteed period of 20 years. The minimum age for entry is 25 years, and the maximum age is 60 years. A policyholder can receive up to 110% of the base premium paid back when the term of the plan ends. On the other hand, it is necessary to know about the parameters in detail before choosing the policy that will help gain more advantages. In the event of the policyholder’s death, a policyholder’s family will get the monthly income amount selected at the beginning of the policy.
- PNB MetLife Aajeevan Suraksha Plan: The policy comes with features like death benefit, terminal illness benefit, joint life cover, and maturity benefit. A policyholder can choose a premium based on their requirements. Also, the policy offers a return on premiums at the maturity of the plan. It is possible to customize the plan and choose from four benefit options that will help meet exact needs.
Why opt for PNB MetLife Term Insurance Plans?
- Brand Value: PNB MetLife has a high reputation in the market, showing consistent profits for the last 6 years. It is also counted among the few profitable insurance providers in India.
- Variety of Products: It offers a wide range of term insurance plans for customers at affordable rates that come with salient features.
- High Claim Settlement Ratio: The company has a high claim settlement of ratio of 97.18%, which boosts the assurance and trust among the customers.
- High-Quality Services: PNB Metlife has a history of focusing on specific customer needs. The highly motivated team is not only available and dependable but also well versed with each requirement of the customer. This makes it easy to advise on the best product for each customer.
- Financial Independence: The term insurance plans offered by the company provide high protection to a policyholder’s family.
- Technology-Driven: As the proud winners of Celent’s Model Insurer Asia, PNB Metlife is fully committed to convenience through its mobile responsive e-commerce sales platform. This makes it hassle-free for customers to complete their KYC and medicals without visiting the branches.
Benefits of PNB MetLife Term Insurance Plans
- High Sum Assured: PNB MetLife term insurance plans are cost-effective, offers high Sum assured at comparatively low premiums. Moreover, the plans provide comprehensive protection to your loved ones in your absence, ensuring a comfortable and stress-free life for them.
- Flexible Payout Options: PNB MetLife term plans come with the feature of flexible payout options such that various needs of the customers are taken care of.
- Different Add-On Covers: Along with death benefit, PNB MetLife Term Insurance Plans comes with customizable features, benefits, and various coverage such as accidental death cover, terminal illness cover, disability cover, etc.
- Flexible Policy Tenure: Term insurance plans do not have any savings component; therefore, it is not necessary to invest long-term. PNB MetLife term insurance plans can be chosen as per the requirements of life. The benefits of term insurance can be enjoyed even for a shorter tenure.
- Tax Benefits: The premiums paid towards the term insurance plan are eligible for tax benefits under section 80C of the Income Tax Act 1961.
PNB MetLife Term Insurance Plans Review
PNB Metlife features one of the best claim settlement ratios, which proves it a reliable insurance partner. In addition, its term plans are designed to suit everyone’s needs, making it a secured insurance company in the market.
What are the documents required to buy PNB MetLife Term Insurance plan online?
The documents required to buy a PNB MetLife term insurance plan online includes the last 3 months salary slip, income tax return, bank statement of 6 months, and form 16 for verification of income along with other documents like PAN card, voter ID, passport, aadhaar card, driving license, as ID proof and address proof.
Is it possible to change the premium amount payable during PNB MetLife Term plan tenure?
Generally, the premium amount payable cannot be changed during the policy tenure. However, the premium payable towards a plan gets changed during the policy renewal, which might be higher than the previous one.
How the claim amount for a term plan is paid?
After informing the insurance company and submitting all the necessary documents, the insurance company verifies the documents and settles the claim. Usually, the claim is paid via cheque within 7 days from the document submission date.
What is the grace period offered by the PNB Metlife Insurance company?
A grace period of 30 days from the premium due date is allowed by the PNB MetLife Insurance company according to the guidelines by the Insurance Regulatory Authority of India.