PNB MetLife Mera Term Plan
PNB MetLife Mera Term Plan is carefully designed to ensure that your family’s requirements are met in your absence so that they don’t have to compromise on their expenses and dreams. It is a non-linked, non-participating pure risk plan providing comprehensive protection, taking into account the needs at every life stage.
PNB MetLife Mera Term Plan Features
- PNB MetLife Mera Term Plan offers coverage till the age of 99.
- This term plan offers a maximum sum assured of Rs 50 crore at an affordable premium.
- The plan provides flexibility to choose from 4 payout modes so that the requirements of your loved ones are taken care of at every life stage.
- The minimum entry age is 18 years, and the maximum is 65 years.
- The maximum maturity age is 99 years, except the joint-life cover option with a maturity age of 75 years (applicable for both primary and secondary life).
- It gives additional protection benefits to cover against health and other uncertainties.
- It offers the option to cover your spouse through joint-life benefits.
- This term plan comes with the option to increase the life cover at different stages of life as your responsibilities increase.
- Tax benefits are available as per the prevailing norms of the Income Tax Act 1961.
Details of the 4 Payout options under PNB MetLife Mera Term Plan
|Option 1||This option offers lump sum Death Benefit or sum assured upon policyholder’s demise|
|Option 2||Under this option, 50% of the Death Benefit or sum assured is payable as lump sum and the balance is paid as a monthly instalment for 10 years. The monthly income shall be 0.58% of the base sum assured.|
|Option 3||In this option, 50% of the Death Benefit or sum assured is payable as lump sum and the balance is paid as an increasing monthly instalment @ 12% pa at simple interest for 10 years. The first-year monthly income shall be 0.39% of the base sum assured.|
|Option 4||This option is only available to the policyholders if their child is less than 15 years of age. In this option, 50% of the Death Benefit or sum assured is paid as lump sum and the balance is paid as level monthly instalment till the nominated child reaches the age of 21 years. The level monthly income shall be proportional to the base sum assured and vary on the basis of the child’s attained age at the time of the insured’s death.|
Why should you choose the PNB MetLife Mera Term Plan?
- To protect your family’s future at an affordable cost.
- To safeguard your family’s financial independence.
- To cover your partner under the same policy.
- To avail the option to pay premiums for a limited term and stay stress-free for the rest of your life.