PNB MetLife India Insurance
PNB MetLife Insurance Company Limited Profile
| Characteristics | Specification |
| Company Name | PNB MetLife India Insurance Company Limited |
| Headquarters | Mumbai |
| Year of Establishment | 2001 |
| Company Type | Subsidiary |
| Parent Company | Punjab National Bank, MetLife |
| Country Served | India |
| CEO | Ashish Kumar Srivastava |
| Claim settlement ratio (2020-21) | 98.17% |
| First Year Premium (Up to 31st March 2021) | 1996.20 |
| No. of Policies (Up to 31st March 2021) | 247824 |
| No. of lives covered (Up to 31st March 2021) | 2543723 |
| Sum assured ((Up to 31st March 2021) | 185905.43 crores |
Insurance Plans Offered By PNB MetLife India
Family Protection Solutions by PNB MetLife are comprehensive term plans designed to protect you at every stage of your life. The various types of family protection plans available with PNB MetLife are listed below.
i. PNB MetLife Mera Term Plan Plus
PNB MetLife Mera Term Plan Plus is a protection plan that provides you and your family with comprehensive life coverage at a very nominal cost.
Key Features:
- Spouse coverage – The option to protect your spouse under the same plan at a nominal extra cost
- Return of premiums – By paying an additional premium, it is possible to get the payments towards your premium till maturity.
- Cover Enhancement options – Secure your children’s higher education without any financial worries with Child Education Support Benet.
| Age at entry | Minimum: 18 years Maximum: 60 years (55 if Pay till 60 is chosen as PPT) |
| Age At maturity | Minimum: 28 Years Maximum: Life, Life Plus : 99 years Life plus Health: 75 years |
| Sum assured | Minimum: 25,00,000 Maximum: No limit |
| Premium Paying Term (PPT) | Single pay, • Limited pay (5, 10, 15, 20, Pay till Age 60), • Regular Pay |
| Policy Term | Minimum: 10 Years Maximum: Without RoP : Life, Life Plus: 99-Age at entry Life plus Health: 75 – Age at entry With RoP: 40 |
| Premium paying mode | Yearly / Half Yearly / Quarterly / Monthly |
ii. PNB MetLife Mera Term Plan
Ensures your family’s security, financial independence, and makes certain that their standard of living isn’t affected in your absence.
Key Features:
- Affordable premium – Pay premiums you are comfortable with so your loved ones can live comfortably even in your absence,
- Long life cover – Get coverage till the age of 99 years and remain stress-free.
- Max sum assured – Although you pay nominal premiums, you can get a sum assured of up to a maximum of Rs. 50 crore.
| Age at entry | Minimum: 18 Years Maximum: 65 Years |
| Age at maturity | 99 years for all options (except Joint Life cover option) Joint Life Cover option: 75 years (applicable for both primary and secondary life) |
| Sum assured | Varies depending on the pla option – Rs. 10,00,000 to Rs. 5,00,00,00,000 |
| Coverage Period | 10 years to 81 years for all options (except Joint Life Cover option) and 10 years to 40 years for Joint Life Cover option (applicable for both primary and secondary life), subject to maximum maturity age. |
iii. PNB MetLife Saral Jeevan Bima
The plan aims to simplify the approach to buying term life insurance with the same offerings and same policy terms and conditions that you would expect.
Key Features:
- Policy term – If you opt for this policy, you can ensure protection for a term that ranges from 5 years to 40 years.
- Sum assured – You and your family can stay protected knowing that by the end of the policy you can get a sum assured of Rs.5 Lakhs to Rs.25 Lakhs.
- Choice of premium payment – This plan gives you the flexibility to make payments in three different methods like throughout the policy term, one-time single payment, or for a limited period.
| Age at entry | Minimum: 18 Years Maximum: 65 Years |
| Age At maturity | Minimum: 23 Years Maximum: 70 Years |
| Sum assured | Minimum: Rs. 5,00,000 Maximum: Rs. 25,00,000 |
| Premium payment mode | Yearly, half-yearly, and monthly |
| Policy Term/Premium Paying Term | Minimum: Single pay: 5 years Limited 5 Pay: 6 years Limited 10 pay: 11 years Regular Pay: 5 years Maximum: 40 years |
iv. PNB MetLife Mera Mediclaim Plan
With your passing age, your goals in life change and so does your investment plan. With this plan, you get the benefits of growth and protection so you can plan for life in a disciplined and holistic manner.
Key Features:
- Fund booster – A certain perfect of your annual premium is added to the value of the fund at the time of maturity thereby boosting your overall amount of maturity.
- Two portfolio strategies – One strategy is to pick from eight different fund options and in the other strategy, you can keep changing your investment in different funds on the basis of years to maturity. You can also change between strategies so as to keep up with your changing needs, the risk appetite of life stages.
| Basic Sum Assured | Wealth Plus plan Minimum: 7 times Annualized Premium Maximum: 0 – 25 years – 40 26 – 35 years – 30 36 – 40 years – 20 41 – 44 years – 15 45 years and above – 10 Wealth Plus Care plan Minimum: 7 times Annualized Premium Maximum: 10 times Annualized premium |
| Age at Entry (min and max) | Wealth Plus plan 0 to 65 years Wealth Plus Care plan Minimum: 18 years Maximum: 53 for Policy Term / Premium Payment Term Combination of 10 / 5 years 55 years for all other combinations |
| Age at Maturity (min and max) | Wealth Plus plan 18 years to 75 years Wealth Plus Care plan 28 years to 70 years |
| Policy term | Wealth Plus plan and Wealth Plus Care plan: 10, 15, 25 years |
| Premium payment terms | Wealth Plus plan 10-year policy – 5, 7, and 10 15 to 25-year policy – 5, 7, 10, and 15 |
| Premium payment frequency | Yearly, Half-yearly, Quarterly, and Monthly |
| Premium | Minimum monthly – Rs. 5,000 Minimum quarterly – Rs. 15,000 Minimum half-yearly – Rs. 30,000 Annual – Rs. 5,0000 |
v. PNB MetLife Aajeevan Suraksha
A comprehensive plan, which can give you lifelong protection. With modifications, you can add your spouse and also receive a return of your premium. This ensures you can live the way you want.
Key Features:
- Return of Premium – When you choose this option you can get the premium you have paid until the time of maturity.
- Choice of protection – You can pick if you would like protection for a fixed term or for your whole life until 99 years of age.
- Customization – Enhance your coverage and make it better by picking different benefit options like increasing income, fixed income, life partner, and lump sum.
| Cover options | 1) Fixed Term Cover 2) Whole Life Cover |
| Entry Age4 (Years) | Minimum: 18 years Maximum: 65 years |
| Maximum Maturity Age (Years) | Fixed term cover – 80 years Whole life cover – 99 years |
| Sum Assured (Rs.) | Minimum: Rs. 25,00,000 Maximum: No limit |
| Premium payment term (PPT) (Years) | Single pay: Single premium payment at the inception of the policy Limited pay: 5 to 15 Regular pay (Regular Pay is only available with Fixed Term option) |
| Policy term (PT) (Years) | Single pay and regular pay: 10 years Limited pay: Premium payment term plus 5 |
vi. PNB MetLife Mera Jeevan Suraksha Plan
When you are not around, you can give your family all the protection they need in the form of regular income as well as adding spouse and family into the plan.
Key Features:
- Return of Premium – Get your money back on survival till maturity with the ‘return of premiums’ option
- Enhance protection – Choose your protection against death or terminal Illness and enhance your cover.
- Benefits on a higher sum assured – If you pick a higher sum assured, you will get special premium rates.
| Plan options | Lump sum Life partner Fixed income Increasing income |
| Age at entry (Years) & | Minimum: 18 years Maximum: 65 years |
| Maximum age at maturity (Years) | Minimum: 28 years Maximum: 80 years |
| Policy Term (Years) | Minimum: 10 years Maximum: 40 years (30, if you pick return of premiums’ option) |
| Premium Paying Term (PPT) (Years) | Regular pay |
| Premium Payment modes | Yearly, half-yearly, and monthly |
| Annualized Premium (Rs.) | Minimum: Rs. 3,885 Maximum: No limit |
| Basic Sum Assured (Rs.) | Minimum: 25,00,000 Maximum: No limit, subject to underwriting |
vii. PNB MetLife Family Income Protector Plus
A flexible term plan that’s made to make sure your family is financially stable, even in your absence by providing regular income.
Key Features:
- Return of premium – At the end of the policy term you can get 110% of your base premium back.
- Monthly income – Your family can get a guaranteed monthly income for up to 20 years.
- Tenure choice – The flexibility of this policy allows you to choose a suitable tenure.
| Age at entry | Minimum: 25 years Maximum: 60 years (55 for Policy term 20 years) |
| Max. age at maturity | 75 years |
| Policy term | 10 years 15 years 20 years |
| Monthly Income Options | Rs.10,000/- Rs.25,000/- Rs.50,000/- Rs.75,000/- Rs.100,000/- |
| Plan options | Term cover and term with return of premium option (TROP) |
| Premium paying options | Yearly, half-yearly, monthly, and PSP modes |
| Sum assured | Minimum: 10 years – Rs. 14.20 lakhs 15 years – Rs. 12.00 lakhs 20 years – Rs. 9.10 lakhs Maximum: 10 years – Rs. 1.42 crores 15 years – Rs. 1.24 crores 20 years – Rs. 0.95 crores |
viii. PNB MetLife Income Protection Plan
A flexible life insurance plan that meets your savings as well as protection needs.
Key Features:
- Guaranteed payout – At the end of the policy term, you can get 100% to 150% of the total premiums paid.
- Protection for your family – Get life cover for the entire policy term
- Flexibility – You have the flexibility to pick the duration of the policy that is 5, 7, or 10 years as well as choose monthly income or lump sum as your death benefit.
| Age at entry | Minimum: 18 years Maximum: 55 years (150% RoP is 50 years) |
| Maximum age at maturity | 70 to 75 years, depending on plan option chosen |
| Sum Assured | Minimum: Based on minimum Premium Maximum: Rs. 10,00,000 |
| Policy Term | 05 years, 07 years, 10 years, 15 years, and 20 years |
| Premium Payment Term | Limited pay: 5 years, 7 years, and 10 years |
| Premium Payment modes | Yearly, half-yearly, and monthly |
ix. PNB MetLife POS Suraksha Plan
With this plan, you can get regular income which ensures your family is financially stable. Plus, the enrollment process is very easy.
Key Features:
- Guaranteed Payout – At the end of the policy term you get a guaranteed payout which is equal to 100% of the total premiums you pay.
- Guaranteed benefits – All your guaranteed features are explained to you initially, which makes sure you’ve understood everything from the get-go.
- Flexibility – You have the convenience of picking the duration you want to make premium payments. It can be anywhere from 5 to 15 years.
| Age at entry (Years) | Minimum: 18 Maximum: For Policy term 10: 55 For Policy term 15: 50 | |
| Maximum age at maturity | 65 years | |
| Premium Paying Term (PPT) | 5 years, 10 years and 15 years | |
| Policy Term (Years) | For PPT 5: 10 For PPT 10: 10 or 15 For PPT 15: 15 | |
| Minimum Basic Sum Assured (Rs.) | Rs. 50,000 | |
| Maximum Basic Sum Assured (Rs.) | Rs. 25,00,000 (in multiples of 50,000) | |
| Premium Payment modes | Yearly, half-yearly, and monthly | |
2. PNB MetLife Long Term Savings Solutions
Long Term Savings Solutions by PNB MetLife is created to help you secure your wealth and plan your future in advance. These plans serve as great investment opportunities and provide for complete protection and security.
i. PNB MetLife Guaranteed Future Plan
This plan enables systematic saving, guaranteed returns, and protection against unpredictable events in life.
Key Features:
- Payout Flexibility – You can pick from different payout options like single pay, or 5, 7, or up to 15 years.
- Guaranteed Income – You have the opportunity to get 103% to 248% of the annualized premium as your guaranteed income.
- Secure your life – You can get a life cover as well to ensure protection against serious illness or accidental death.
| Minimum age at entry (Years) | Policy Term Minimum Entry 12 years 6 years last birthday 14 years 4 years last birthday 15 years 3 years last birthday 16 years 2 years last birthday 17 years 1 year last birthday 18 years 0 (30 days) and above | |
| Maximum age at entry (Years) | 60 years For policies purchased through POS channel, the maximum age at entry will be 55 | |
| Maximum age at Maturity (Years) | Single pay: 80 Limited pay: 75 Years For policies purchased through POS channel, the maximum age at maturity for Limited pay will be 65 years; | |
| Sum assured | Minimum: For Limited pay: 10 x Annualised premium For Single pay: 1.25 x Annualised premium Maximum: | |
| Premium Payment modes | Single, yearly, half-yearly, and monthly | |
ii. PNB MetLife Century Plan
Secure your future with an income along with life long cover till age 100 years. In your retired years, you can ensure that you have a second income.
Key Features:
- Protection of your family – Safeguard the future of your family plus secure life cover plus, if you opt for riders like serious illness or accidental death at a nominal cost you can further enhance protection.
- Survival benefits – even after the untimely death of the insured, the family gets survival benefits without having to pay any premiums.
- Flexibility – Not only can you get to choose from different plan options but also get income payout as per your choice and pick how long you would like to pay your premiums.
| Particulars | Premium Payment Term | Family Care Option | Option 1: Super Income | Option 2: Smart Income | Option 3: Future Income |
| Premium Payment Term | Without | 5 to 10, 12, 15 | 5 to 10, 12, 15 | 8, 10, 12, 15 | |
| With | 5 to 10, 12, 15 | 5 to 10, 12, 15 | 8, 10, 12, 15 | ||
| Policy term | All | With/without | Maturity Option 1: 80 minus Age at entry: Maturity Option 2: 100 minus Age at entry | ||
| Minimum Age at Entry (years) | All | Without | 0 (30 days) | ||
| Minimum Age at Entry (years) | All | With | 18 years | ||
Maximum Age at Entry | 5 to 9 | Without | 55 years | 55 years | 55 years |
| Maximum Age at entry | 10, 12, & 15 | 60 years | 65 years | 60 years | |
| Maximum Age at entry | 5 to 10, 12, 15 | With | 50 years | 50 years | 50 years |
| Maturity Age | All | With/without | Maturity Option 1:80 years: Maturity Option 2: 100 years | ||
| Sum Assured | 5 to 9 | With/ Without | Minimum: Rs. 6,00,000 Maximum: Based on approval | ||
Sum Assured | 10, 12, & 15 | Rs. 2,40,000 Maximum: Based on approval | |||
iii. PNB MetLife Smart Platinum Plus
This plan provides solutions to achieve your goals, wealth creation even during critical illness.
Key Features:
- Return of Fund Management Charges – When you reach the end of the 6th year of your policy, the total FMC charges that were reduced until the policy’s 5th year is added back.
- Portfolio strategies – Pick from 11 diverse fund options as well as other beneficial strategies like life-stage strategy and systematic transfer strategy.
- Enhance the value of your fund – At the end of the 10th year of the policy, you are rewarded with fund benefits.
| Product Specification | Minimum | Maximum | |
| Age at entry | Wealth Option | 0 (30 days) | 70 years |
| Wealth + Care Option | 18 years | 65 years | |
| Maturity age | Maturity Option 1: 80 years Maturity Option 2: 99 years | ||
| Policy Term (Years) | Maturity Option 1: 80 – age at entry Maturity Option 2: 99 years – age at entry | ||
| Premium Payment Mode | Single, annual, semi-annual, and monthly | ||
iv. PNB MetLife Mera Wealth Plan
A unit-linked wealth plan that includes savings too so you are able to ensure your financial goals are in place for different stages of your life. And the life cover option gives you ample security.
Key Features:
- Wealth plan – Pick from the systematic transfer or self- managed investment option to create a plan that meets your financial goals.
- Loyalty additions – From the end of the 6th policy year, you can get loyalty additions to add to your value.
- Maturity benefit – Once your policy term is done, survivors can avail of your fund value.
| Premium Payment Type | Single Pay | 5 Pay | 10 Pay | Regular Pay |
| Premium Payment Term | Single premium | 5 years | 10 years | 10 to 30 years |
Minimum Policy Term | 10 years | 10 years | 11 years | 10 years |
Maximum Policy Term | 20 years | 20 years | 30 years | 30 years |
Minimum Age at entry | 0 (30 days) | 0 (30 days) | 0 (30 days) | 0 (30 days) |
Maximum Age at entry (years)* | 60 years | 54 years | 60 (policy term<=25 years), 55 (policy term>25 years) | 60 years |
Minimum age at maturity | 18 years | 18 years | 18 years | 18 years |
Maximum age at maturity | 80 years | 74 years | 80 years | 80 years |
| Premium Payment Mode | Annual, half-yearly and monthly (for 5 Pay, 10 Pay and Regular Pay | |||
| Sum assured multiple | 1.25 | 10 or ( Policy term* 0.5), whichever is higher | ||
v. PNB MetLife Super Saver Plan
With this plan, you can give your family long-term financial protection as well as accumulate savings. During the diagnosis of a critical illness or an untimely passing, you can waive premiums to ensure no compromises.
Key Features:
- Plan options – To save for your family’s future, you can pick and choose from multiple plan options such as savings + healthcare, family care, savings + or savings.
- Bonus options – You can choose a liquidity or accumulation bonus option before starting the plan.
- Life cover – Give your loved ones some security in the form of live cover so even during your untimely demise they have something to fallback on.
| Product specification | |
| Plan options | Option 1: Savings Option 2: Savings + Family Care Option 3: Savings + Health Care |
| Bonus options | Option 1: Accumulation Option 2: Liquidity |
| Maximum age at entry | Option 1: Savings – 60 years (annual mode) 55 years (other modes) Option 2: Savings + Family Care – 50 years (annual mode) 45 years (other modes) Option 3: Savings + Health Care: For PPT: 5, 7, 10 and 12 Pay – 55 yrs. For PPT 15 and Regular Pay – 50 yrs (annual mode) For PPT: 5, 7, 10 and 12 Pay – 50 yrs. For PPT: 15 and Regular Pay – 45 yrs (other modes) |
| Age at maturity | Option 1: Savings – 18 years to 80 years Option 2: Savings + Family Care – 28 years to 70 years Option 3: Savings + Health Care – 28 years to PPT: 5, 7, 10 and 12 Pay – 75 For PPT: 15 Pay and Regular pay – 70 |
| Premium Payment Term | 5, 7, 10, 12, 15 and Regular pay |
| Policy term | PPT 5 and 7 – 10 to 20 years PPT 10 – 11 to 20 years PPT 12 – 13 to 20 years PPT 15 – 16 to 20 years Regular pay: 10, 12 and 15 years |
| Sum assured | Minimum: Rs 2,20,000 Maximum: Based on approval |
| Premium payment mode | Yearly, half-yearly, and monthly |
vi. PNB MetLife Guaranteed Income Plan
Get an additional income along with a life cover
Features:
- Guaranteed maturity benefit – When your policy matures you can get 30% to 55% of Basic Sum Assured (BSA)
- Guaranteed income benefit – Based on your premium payment term, you can get a 11% to 13% regular income of your Basic Sum Assured (BSA).
- Pay as per your convenience – Pick from 5, 7, 10 or 12 years to make premiums based on your convenience and preference.
| Premium Payment Type | 5 Pay | 5 Pay | 7 Pay | 10 Pay | 12 Pay |
| Premium Payment Term (years) | 5 | 5 | 7 | 10 | 12 |
| Policy Term | 10 years | 15 years | 15 years | 20 years | 20 years |
| Minimum age of entry | 8 years | 3 years | 3 years | 3 years | 3 years |
| Maximum Age at entry | 60 Years | ||||
| Minimum Sum Assured | 5 pay: Rs. 4,00,000 7 Pay: Rs. 2,00,000 10 Pay: Rs. 1,50,000 12 Pay: Rs. 1,50,000 | ||||
| Maximum Sum Assured | As per Board approved underwriting policy | ||||
| Premium Payment modes | Yearly, half-yearly, and monthly | ||||
vii. PNB MetLife Guaranteed Savings Plan
This plan makes it possible to achieve your dreams financially by offering a lump sum benefit on maturity. Some other features that enhance your policy include guaranteed additions on cumulative premiums.
Key Features:
- Life cover – Give your loved ones security in your absence with this plan that comes with a life cover that kicks in after you pass.
- Sum assured on maturity – Depending on your premium payment option you pick, you can get a certain percent of your sum assured on maturity.
- Guaranteed additions – At the time of the premium payment term, every year when the policy ends, a guaranteed addition is added to your policy.
| Premium Payment Type | 5 Pay | 7 Pay | 7 Pay | 10 Pay |
| Premium Payment Term (years) | 5 | 7 | 7 | 10 |
| Policy Term (years) | 10 | 12 | 15 | 20 |
| Minimum Ageat entry (years) | 8 | For Term 12 years: 6 For Term 15 years: 3 | 3 | |
| Maximum Age at entry (years) | 60 years | |||
| Maximum age at maturity (years) | 70 | For Term 12 years: 72 For Term 15 years: 75 | 80 | |
| Minimum Sum Assured (Rs) | 4,00,000 | 2,00,000 | 2,00,000 | 1,50,000 |
| Maximum Sum Assured (Rs) | As per Board approved underwriting policy | |||
| Premium payment modes | Yearly /half yearly/ monthly | |||
viii. PNB MetLife Endowment Savings Plan Plus
With this endowment life insurance plan, it is possible to amass a corpus that you can use at different stages in life. You also get life cover and protection against critical illnesses.
Key Features:
- Waiver of premium – If the policyholder is diagnosed from any of the listed 35 critical Illnesses, all future premiums are waived off for the leftover time.
- Bonus – From year 1, there’s a bonus that one can add to their plan which becomes payable during surrender or death, whichever comes first.
- Plan options – This plan comes with savings and savings plus options so you can pick one that suits your needs.
| Parameter | Savings | Savings plus |
| Minimum Age of entry | 8 years | 18 years |
| Maximum Age of entry | 45 to 60 years, varies based on PPT and payment mode. | |
| Age of maturity | 80 years | Regular pay: 65 years Limited pay: 80 years |
| Premium Payment Term | Regular pay: Same as policy term Limited pay: 5, 7 & 10 years | |
| Policy term | 10,15,25 years, varies based on PPT and the payment mode. | |
| Minimum Sum Assured (Rs.) | 2,20,000 | |
| Maximum Sum Assured | As per Board approved underwriting policy | |
| Premium Payment modes | Yearly, half-yearly, and monthly. | |
ix. PNB MetLife Bachat Yojana
This plan makes sure you are in a situation to meet present as well as long-term financial goals by helping you build a savings portfolio that’s significant.
Key Features:
- Bonus – From the third until the end of the term of the plan, which will be paid to you when the policy ends or upon death.
- Maturity benefit – If you survive the policy term, you get the base sum assured and bonuses, if any.
| Minimum ages at entry | 20 years |
| Maximum ages at entry | 60 years |
| Max. age at maturity | 75 years |
| Premium Payment Term Options | 10 years Limited Pay |
| Policy Term | 15 years |
| Min. Sum Assured | Rs. 64,800 |
| Max. Sum Assured | Rs. 5 Lakhs |
| Premium amount | Minimum: Annual – Rs. 6,000 Semi-Annual – Rs. 10,000 Monthly/PSP – Rs. 15,000 Maximum: 23,999 per Life |
Why To Buy Policy From PNB MetLife India Insurance?
The varied insurance plans by PNB MetLife offer a range of benefits that make them the perfect solution for every need.
- A Legacy of Trust: PNB MetLife had a claim settlement ratio of 96.21% (FY18-19).
- A Solution for Every Need: PNB MetLife has an insurance plan to cover you and your loved ones at every stage of your life.
- Unparalleled Expertise: Our expert insurance solutions are ingredients to a happy family and are backed by Punjab National Bank and MetLife Inc.
- Complete Transparency: PNB MetLife assures no hidden clauses, obscure terms, and industry jargon, thus promising a hassle-free experience.
- End-to-End Guidance: Get complete guidance at every step of the way, right from selecting the right plan to payment of premiums.
Exclusions That Come with PNB MetLife Insurance Plans
Suicide Exclusions:
If the Life Insured dies by suicide within 12 months from the Date of Commencement of Risk or from the Date of Revival of the policy, the nominee is entitled to receive 80% of the total premiums paid until the date of death or the Surrender Value (if applicable) on the date of death, whichever is higher. The Sum Assured shall not be payable in this case.
Exclusions for Accidental Death Benefit:
The Accidental Death Benefit shall not be applicable in the following scenarios.
- Attempted suicide or self-inflicted injury
- Terrorism, war, mutiny, civil war, the act of a foreign enemy, revolution, rebellion, riot or civil commotion, strikes, hostilities, invasion, martial law, armed or unarmed truce, usurped power
- Participation in military, naval, or air force operations during peacetime
- Participation in professional sports or any hazardous pursuits such as racing, diving, riding, martial arts, hunting, underwater activity, mountaineering, parachuting, bungee jumping
- Criminal offense, assault, illegal activity, or any breach of law with criminal intent
- Substance abuse
- Drunk driving or driving under the influence of narcotics
- Nuclear contamination
- Traveling to unsafe areas
- Participation in any unauthorized flying activity
Exclusions for Critical Illness Benefit:
The Critical Illness Benefit shall not be applicable in the following scenarios.
- Any pre-existing disease, condition, ailment, or injury
- Any of the listed Critical Illnesses caused or aggravated directly or indirectly by any of the acts mentioned in the Terms & Conditions of the policy unless they are beyond the Life Insured’s control
- Any disease occurring within 90 days from the start of coverage or the date of reinstatement, whichever is later
- Any external congenital condition
Waiting Period:
If a claim for the Waiver of Premium (WOP) benefit occurs during the waiting period, the WOP cover shall be terminated and all the future premiums shall be reduced to the premiums payable under the Savings option for a similar contract.
Riders Offered With PNB MetLife Insurance Plans
PNB MetLife offers a range of riders that can be added to your insurance plan for an enhanced cover against unforeseen circumstances. The riders available with us are listed below.
- PNB MetLife Accidental Death Benefit Rider Plus: If the Life Insured dies by accident, the nominee is entitled to an additional Death Benefit Sum Assured.
- PNB MetLife Accidental Disability Benefit Rider: If the Life Insured meets with an accident that results in a disability, he/she is entitled to a pre-decided Accidental Disability Benefit.
- PNB MetLife Serious Illness Rider: The Life Insured is entitled to the Serious Illness Benefit on the first diagnosis of any of the 10 covered serious illnesses.
- PNB MetLife Critical Illness Rider: The Life Insured is entitled to the Critical Illness Benefit on the first diagnosis of any of the 2 critical illnesses namely cancer and heart attack.
Steps to Buy A PNB MetLife Insurance Policy Online
To buy an insurance policy by PNB MetLife online, follow the below steps.
- Visit the PNB MetLife website and browse through our available plans. You can use our specialized features such as ‘Tools and Calculators’ and ‘Compare Life Insurance Plans’ to determine the right plan for you.
- Once you have finalized your plan, you can click on the buy now option. Select any riders you would like to add to your policy for enhanced protection and fill in all the required details.
- Subsequently, pay your premium online through a secure payment gateway. Upon successful payment, a confirmation mail is sent to your registered email ID.
- Fill the proposal form with the required details such as personal information, medical history, family history, nominee information, and existing cover details, if any.
- Submit the required documents such as identity proof, address proof, medical and health-related reports, etc online.
- Based on the plan selected, you may have to undergo a medical examination as directed by PNB MetLife.
- After a thorough examination of all the submitted documents and reports, PNB MetLife issues the policy and sends all the relevant documents through email and courier to the customer.
Renew PNB MetLife Insurance Policy
To renew your PNB MetLife insurance policy, follow the below steps.
- Visit the PNB MetLife website and log in.
- Select the plan you would like to renew. You can also enter your policy number in the search bar to locate the plan manually.
- Add/remove/modify any applicable riders as required.
- Pay your renewal premium online through a secure payment gateway.
- Submit any additional documents/reports as requested by PNB MetLife.
- After a thorough examination of all the submitted documents and reports, PNB MetLife dispatches the renewed policy document to your mailbox.
PNB MetLife India Insurance Claim Process
In case of an unfortunate incident, file a claim for your policy by following the below steps.
Apply for Your Claim:
You can apply for a claim with PNB MetLife through one of the following mediums.
- Visit the PNB MetLife website and file a claim online by clicking on ‘Our Services’ then ‘claim’. After this, just follow the steps.
- Write to us about your claim request at claimshelpdesk@pnbmetlife.com
- Intimate us about your claim request through a letter
- File a claim on our self-service mobile app – Khushi
- Visit our nearest branch to apply for a claim
Submit The Essential Documents:
To initiate your claim, submit all the relevant documents as specified by PNB MetLife. In some cases, the company may request additional documents for further investigation.
Claim Your Payout:
Upon receiving all the relevant documents, PNB MetLife initiates the claim decision process. A claim is usually processed within 30 days of the submission of the documents. In cases where an investigation is necessary, PNB MetLife completes the examination process within 90 days from the initiation of the claim and the final claim decision is made within 30 days of the completion of the investigation.
Documents Required to File A Claim
The following documents must be submitted to file a claim for your PNB MetLife insurance policy.
Death Claims:
- Copy of Death Certificate issued by the local authority
- Claimant’s Statement
- Doctor’s Certificate from the family physician or treating doctor
- Photo ID Proof and Address Proof of the nominee
- Canceled cheque or bank passbook of the nominee/beneficiary
- Authorization letter from the claimant in case the claim intimation is received through the third party
Accidental Death Claims:
- Copy of Death Certificate issued by the local authority
- Doctor’s Certificate from the family physician or treating doctor
- Photo ID Proof and Address Proof of the nominee
- Attested copy of FIR/Panchnama/Inquest report
- Attested copy of the Post Mortem Report/Viscera Report
- Canceled cheque or bank passbook of the nominee/beneficiary
- Copy of newspaper cutting (if any)
- Authorization letter from the claimant in case the claim intimation is received through the third party
Critical Illness Claims:
- Claimant’s Statement
- Doctor’s Certificate (in the specified format)
- Discharge summary from the hospital or attested copies of other hospital records
- Canceled cheque or bank passbook of the Life Insured
- Authorization letter from the claimant in case the claim intimation is received through the third party
Waiver of Premium Claims:
- Claimant’s Statement
- Copy of Death Certificate issued by the local authority
- Original/attested copy of all treatment and diagnosis reports
- Attested copies of other hospital records
- Disability Certificate issued by the Civil Surgeon/competent specialist
- Certificate of the current status of health
- First Information Report
- Canceled cheque or bank passbook of the nominee/beneficiary
- Authorization letter from the claimant in case the claim intimation is received through the third party.
Frequently Asked Questions
Before you buy a life insurance policy, you must assess your own needs. Once you are relatively sure about your needs and preferences, you can use the ‘Find The Right Plan’ feature on our website to determine the right plan for you. Alternatively, you can also use the ‘Get a Callback’ feature on the website to have an advisor call and guide you.
Both Long Term Savings Solutions and Retirement Solutions by PNB MetLife are crafted to offer you a better and worry-free future. Long Term Savings Solutions enable you to save for your future and fulfill your dreams without compromising with your existing financial responsibilities. Retirement Solutions, on the other hand, are designed to ensure you a guaranteed income in the second innings of your life so that you lead a happy post-retirement life.
The Mera Mediclaim plan offers cover for more than 540 day-care treatments in addition to comprehensive life cover, in-patient hospitalization, ambulance charges, organ donation, and much more.
Family Protection Solutions by PNB MetLife are life insurance policies that provide life and health cover to the policyholder and his/her family. Child Education Solutions, on the other hand, are crafted specifically for parenting individuals who wish to secure the future of their children and fulfill their dreams.
Some retirement plans by PNB MetLife offer Maturity Benefits to the policyholder, while some others provide Survival benefits. Maturity Benefit is the sum PNB MetLife pays to the policyholder at the end of the policy term if he/she survives till maturity. Survival Benefit, on the other hand, is the sum PNB MetLife pays to the policyholder at the end of the premium payment term if he/she survives the term.
The PNB MetLife Accidental Disability Benefit Rider covers the following impairments.
Total and irrevocable loss of sight of both eyes
Amputation or loss of use of both hands above the wrists
Amputation or loss of use of both feet above the ankles
Amputation or loss of use of one hand at or above the wrist and one foot at or above the ankle.
The PNB MetLife Group Serious Illness Rider covers 15 serious illnesses as listed below.
- Cancer
- First heart attack
- Open Chest CABG
- Open heart replacement or repair of heart valves
- Coma
- Kidney failure requiring regular dialysis
- Stroke resulting in permanent symptoms
- Major organ/bone marrow transplant
- Permanent paralysis of limbs
- Aorta surgery
- Multiple sclerosis with persisting symptoms
- Blindness
- Parkinson’s Disease
- Benign brain tumor
- Major burns
To file a claim for natural calamities like cyclones and floods, submit the following documents.
- Simplified Claimant Statement or written information from claimant mentioning the policy details and the date of death of the Life Insured
- Death Certificate issued by Municipal Corporation / local authorities (In case of absence of Death Certificate, Report issued by Police authorities or Report issued by Armed Forces needs to be submitted)
- ID and Address Proof of nominee
- Account Details / Bank Certificate of the nominee
To raise a claim for COVID-19 death under the Mera Mediclaim Plan, the following documents need to be furnished.
- Claim Intimation Letter mentioning the policy number, brief of the insured event, and other claim documents
- Copy of Death Certificate issued by the local municipal authority
- Policy document
- Bank account proof and KYC documents of the claimant
Yes. The PNB MetLife Guaranteed Future Plan provides the Limited Pay option for premium payment. Therefore, in this case, the policy term depends on the premium payment term selected by the policyholder.
If the nominee/beneficiary for a life insurance policy by PNB MetLife has also died, the family members of the Life Insured can file a claim after submitting relevant relationship proofs.
Some of the factors affecting premium calculation for a life insurance plan by PNB MetLife are age, gender, lifestyle, medical history, BMI index, and geographic location of the policyholder.
If your life insurance claim is rejected by PNB MetLife, you can write to us appealing to reconsider the decision. You can also raise another claim in this regard.
PNB Metlife Plans
Life Insurers
- Aditya Birla Sun Life Insurance
- Aegon Life Insurance
- Aviva Life Insurance
- Bajaj Allianz Life Insurance
- Bharti Axa Life Insurance
- Canara HSBC Life Insurance
- Edelweiss Tokio life Insurance
- Exide Life Insurance
- Future Generali Life Insurance
- HDFC Life Insurance
- ICICI Prudential Life Insurance
- Ageas Federal Life Insurance
- Indiafirst life Insurance
- Kotak Mahindra Life Insurance
- Life Insurance Corporation of India
- Max Life Insurance
- PNBMetlife India Insurance
- Pramerica Life Insurance
- Reliance Nippon Life Insurance
- SBI Life Insurance
- TATA AIA Life Insurance
