PNB MetTerm India Insurance

term insurance
Protect your loved ones against death, disability and Illness
/ /

PNB MetLife term insurance can do more than just provide your family with financial security. Its plans are created to help you as a source of support through the circle of life. Be it your life security, responsibility towards your family, saving for different stages of your life or achieving your goals, PNB MetLife provides a plan for each aspect of your life. 

Most popular PNB MetLife Term Insurance plans

  1. PNB MetLife Mera Term Plus Plan

PNB MetLife Mera Term Plan Plus provides comprehensive life coverage at a nominal premium. It offers flexibility to choose life cover against death, disability, critical illness and terminal illness along with additional options such as covering your spouse in a plan or opting for whole life protection. The plan provides three options to choose protection against disability, death and disease which include:

  • Life option- Life option provides life cover to the life assured against death. 
  • Life plus options- Life plus option provides cover against death and terminal illness along with the benefit of waiver of all future premiums in the event of accidental permanent disability or on the diagnosis of listed critical illness, whichever is earlier. 
  • Life plus health option- Under this option, the life assured gets cover against death as well as a terminal illness. In addition, in the event of permanent disability due to an accident or on the diagnosis of critical illness, all the future premiums of the plan are waived off and paid by the insurance company. This option also provides an accelerated lump sum amount on diagnosis of listed critical illnesses

Highlighting Features of PNB MetLife Mera Term Plus Plan

  • Flexibility to receive the benefits under the plan either in a lump sum or in the form of monthly income for a period of 10 years or a combination of both
  • The plan offers a return of premium benefit in which you can get back all the premiums paid for the plan if the life assured survives till the maturity of the plan.  The return of premium option can be availed by paying an additional premium. 
  • You can extend the coverage of the plan and include your spouse and can also opt for a child education benefit option to secure your child’s educational finances. 
  • There are various cover enhancements options available under the plan which includes Step Up benefit, Life stage benefit and Child education support benefit. You can enhance protection with one of these cover enhancement options to ensure that your life cover is adequate as you progress in your life. 
  • The plan offers different premium payment options in which you can opt for single pay, limited pay or regular pay. 

Eligibility Conditions of PNB MetLife Mera Term Plus Plan

Age at entry

Minimum- 18 years

Maximum- 60 years

Age of maturity

Minimum- 28 years

Maximum- 75 years / 99 years for Life and Life plus option

Policy year

Minimum- 10 years

Maximum- 40 years/ 75 years/ 90 years depending on plan option and age at entry

Sum assured

Minimum- 25 lacs

Maximum- No limit

Premium paying termSingle Pay, Limited pay and Regular pay
  1. PNB MetLife Mera Term plan

PNB MetLife Mera Term Plan is a comprehensive policy that is customised to provide security to you and your family at every stage of your life and make sure that all your family’s expenses and needs at any point in life are met. You can avail joint life cover securing your spouse’s life in the same plan.

Highlighting Features of PNB MetLife Mera Term plan

  • The plan offers whole life cover till 99 years of age
  • You can opt for increasing your life cover under the life stage protection option in which you can buy an additional cover as per the then prevailing age and premium
  • Max Life Mera Term plan offers three pay-outs which includes full lump sum payment, lump-sum pay-out + regular monthly income pay-out, lump-sum + increasing monthly income and payout as lump sum + regular monthly income till your child turns 21.
  • Option to pay the premiums for a limited period and enjoy life cover for an entire policy term

Eligibility Conditions of PNB MetLife Mera Term plan

Age at entry

Minimum- 18 years

Maximum- 65 years

Age at maturityMaximum- 99 years
Sum assured

Minimum- 10 lakh

Maximum- 5 crore

Policy term

Minimum- 10 years

Maximum- 81 years

Premium paying term10 years or the selected policy term
Premium paying frequencyMonthly and yearly
  1. PNB MetLife Aajeevan Suraksha plan

PNB MetLife Aajeevan Suraksha is an individual, non-participating term insurance policy which offers comprehensive life protection along with the convenience to pay premiums for the plan for a shorter period. You can opt for life cover for a fixed tenure of your choice or for your entire life that is up to 99 years of age. 

Highlighting Features of PNB MetLife Aajeevan Suraksha plan

  • It offers a choice of four benefit options which includes lump sum, life partner, fixed income and increasing income option. 
  • You can include your spouse in the joint cover plan on paying an additional premium
  • The plan offers two policy terms that can be selected at your convenience. You can either choose a fixed term cover of 10 to 40 years or whole life cover up to 99 years of age
  • Aajeevan Suraksha provide inbuilt cover against terminal illness
  • You can choose the return of premium option under the plan to receive the premiums paid for the plan on survival till maturity

Eligibility Conditions of PNB MetLife Aajeevan Suraksha Plan

Age at entry

Minimum- 18 years

Maximum- 65 years

Age at maturityMaximum- 80 years for fixed-term cover and 90 years for whole life cover
Sum assured

Minimum- 25 lakh

Maximum- No limit

Policy term

Minimum- 10 years

Maximum- 40 years

Premium paying frequencyMonthly, half-yearly and yearly
  1. PNB MetLife Mera Jeevan Suraksha Plan

PNB MetLife Mera Jeevan Suraksha comes with an option to choose the return of premium on survival as well as cover to your spouse enabling a secure and stable future for your family even in your absence. 

Highlighting Features of PNB MetLife Mera Jeevan Suraksha Plan

  • The plan offers four options to choose the protection against death or terminal illness
  • You can avail return of premiums option to receive back the premiums paid for the plan on maturity if the life assured survives the policy term
  • The plan also offers special premium rates if you opt for a higher sum assured under the plan
  • Special premium rates for female lives

Eligibility Conditions of PNB MetLife Mera Jeevan Suraksha Plan

Age at entry

Minimum- 18 years

Maximum- 65 years

Age at maturity

Minimum- 28 years

Maximum- 80 years

Policy term

Minimum- 10 years

Maximum- 40 years

Basic sum assured

Minimum- 25 lakh

Maximum- No limit

Premium payment modesYearly, half-yearly and monthly
  1. PNB MetLife Family Income Protector Plus Plan

Family Income Protector Plus is a pure risk plan which provides flexibility to choose the monthly income and premium amount. The plan provides life cover against death during the tenure of the policy and gives you the option to get your premium back on the expiry of the policy term. 

Highlighting Features of PNB MetLife Family Income Protector Plus Plan

  • You get guaranteed monthly income under the plan up to 20 years
  • It offers flexible monthly income options
  • At the end of the policy term, you will receive 110% of the premiums paid under the plan as a maturity benefit
  • Avail tax benefits on both premium paid for the plan as well as the monthly income pay-out 

Eligibility Conditions of PNB MetLife Family Income Protector Plus Plan

Age at entry

Minimum- 25 years

Maximum- 60 years

Age at maturityMaximum- 75 years
Premium paying modesMonthly, half-yearly, yearly and PSP Modes
Monthly income optionsINR 10000; INR 25000; INR 50000; INR 75000; INR 100000
  1. PNB MetLife Saral Jeevan Bima

Saral Jeevan Bima plan offered by PNB MetLife is a standard term policy as per the guidelines issued by IRDA. The plan simplifies the approach to buying a term plan under the same terms and conditions and offerings across all the insurers. 

Highlighting Features of PNB MetLife Saral Jeevan Bima

  • It offers life cover to you and your family
  • It offers flexible premium payment options such as one-time payment, limited period or throughout the policy tenure
  • The plan offers to choose from fixed policy term from 5 years to 40 years

Eligibility Conditions of PNB MetLife Saral Jeevan Bima

Age at entry

Minimum- 18 years

Maximum- 65 years

Age at maturity

Minimum- 23 years

Maximum- 70 years

Sum assured

Minimum- 5 lakh

Maximum- 25 lakh

Policy term

Minimum- 5 years

Maximum- 40 years

Premium paying termSingle pay, regular pay, limited pay of 5 years/ 10 years
Premium paying modesMonthly, quarterly, half-yearly and yearly 

Apart from the above PNB MetLife also offers the following term insurance plans: 

  1. PNB MetLife Group Flexi Term Plus
  2. PNB MetLife Group Term Life Plus
  3. PNB MetLife Complete Loan Protection Plan
  4. PNB MetLife Loan and Life Suraksha Plan
  5. PNB MetLife Bima Yojana Group Micro Insurance Plan
  6. PNB MetLife Complete Care Plus

Benefits of buying PNB MetLife Term Insurance plans

PNB Met Life Term Insurance provides many benefits that make it an excellent form of investment to secure your family's future financially. Let's go through the following to understand the benefits of buying PNB MetLife term insurance: 

  1. Peace of mind- 
    A term insurance plan protects your family financially in your absence and helps to ensure that they live their life without any financial burden. With term insurance plans, you can live a stress-free life knowing that your loved ones are being taken care of. 

     
  2. Affordable premium- 
    One of the major benefits of buying term insurance is its affordability. PNB MetLife offers higher coverage at a lower and affordable premium. It also provides a premium discount for non-smokers and female lives. All the factors make it possible for you to get a higher cover without creating a burden on your pocket. 

     
  3. Easy buy
    Another big advantage of buying term insurance is its availability online. PNB MetLife term insurance can be brought conveniently directly from the website of the insurance company or with the support of a web aggregator. It takes only a few minutes to buy a policy in a hassle-free manner with the benefit of comparison with different available plans. 

     
  4. Extended coverage- 
    You can extend the coverage of your term insurance plan and include your spouse on payment of an additional premium. PNB MetLife Term plan provides an option child education support benefit option for securing your child higher education. 

     
  5. Whole life cover- 
    PNB MetLife term insurance plan provides you with the benefit to avail coverage for your entire life. The plans offer whole life coverage i.e. till 99 years of age. 

     
  6. Flexible pay-outs- PNB MetLife term insurance provides flexible pay-out options in which you can receive the pay-out either in a lump sum or in the form of a monthly instalment or as a combination of both. This benefit helps you to meet with your immediate as well as day to day expenses. 

     
  7. Riders
    Riders help you to avail additional coverage and customise your plan as per your insurance requirements. These covers include accidental death, critical illness, terminal illness and disability. The riders help you to maximize your coverage and avail additional benefits. 

     
  8. Tag benefits
    You can avail of a tax deduction for the premiums paid under section 80C of the Income Tax Act, 1961. Also, benefits received under a term plan is exempt under section 10 (10D) of the Income Tax Act. Hence, the PNB MetLife term insurance plan helps you to save on tax along with enjoying the financial security of you and your family. 

What is covered in the PNB MetLife Term Insurance Plan?

When you invest in a term insurance policy, you basically arrange security for your family. Let's take a look at the coverage benefits in PNB MetLife term insurance plans: 

  1. Death benefit- 
    Death benefit refers to a sum assured under the term plan which is paid out in case of unfortunate death of the policyholder during the term of the plan. The death benefit can be claimed by the nominee of the plan. 

     
  2. Maturity benefit- 
    PNB MetLife term insurance plans pay back the premium paid for the plan if the life assured survive till maturity. The benefit received on maturity is referred to as maturity benefit. The benefit is subjected to the survival of the life assured till the completion of the policy tenure.

     
  3. Critical illness- 
    PNB MetLife Mera Term Plan Plus provides coverage against critical illness under the Health Plus Option in which a lump sum amount is paid on diagnosis of critical illness and all the future premiums of the plan are waived off. 

     
  4. Disability
    An additional amount is paid to the life assured in case of disability or dismemberment suffered by him/ her due to an accident. PNB MetLife Mera Term Plus and PNB MetLife Mera Term plan cover disability and disablement. 

     
  5. Terminal illness- 
    PNB MetLife term plans also cover terminal illness. Terminal illness benefit is paid on the first diagnosis of the covered terminal illness.

What is not covered in PNB MetLife Term Insurance? 

Every insurance plan has a set of exclusions. Exclusions are those situations that are not covered under the policy. Despite its wide coverage, term insurance policies offered by PNB MetLife do not pay the sum insured if the reason for death is any of the following: 

  1. Self-inflicted injury-  Claims made due to death or illness caused out of self-inflicted injury or suicide within one year of risk commencement of the policy
  2. Pre-existing conditions- Claims made as a result of death due to any pre-existing condition
  3. Terrorism or war- Death of life assured due to terrorism, war, the act of a foreign enemy, invasion, strike, etc are not covered. 
  4. Peacetime operations- Death due to participation in the Air force, Military or Naval. 
  5. Participation in illegal activities- Death due to participation in a criminal offence, assault or illegal activity. 
  6. Hazardous activities- Death due to participating in a hazardous activity such as any kind of race, underwater activities, mountaineering, bungee jumping, etc
  7. Substance abuse- Death due to consumption of alcohol or drugs
  8. Flying activities- Claims made as a result of participating in flying activities will be excluded
  9. Waiting period- Death due to any disease within a period of 90 days from risk commencement will not be covered
  10. Nuclear contamination- Death due to explosion or hazardous nature of nuclear fuel materials, radioactivity is not covered. 

If the life assured suffers death due to suicide within 12 months from risk commencement of the policy or from the date of its revival, the beneficiary under the plan shall be entitled to 80% of the premiums paid for it or the surrender value as on the date of death, whichever is higher. 

How to apply for PNB MetLife Term Insurance Plan

Buying a term plan online is extremely convenient, easy and hassle-free. Before buying a term plan, you need to do your homework and select a suitable plan keeping in mind the cover amount, the eligibility criteria and the premiums that you want to pay. After finalising the various aspects of the term plan, you can go ahead with your purchase. Here are a few simple steps that we need to follow to buy a PNB MetLife term insurance plan: 

  1. Get a quote- 
    Visit the official website of the insurance company and fill in the relevant details such as your date of birth, annual income, pin code and whether you are a smoker or a non-smoker to get a quote for your term plan. 

     
  2. Fill in the details- 
    Fill in the additional details such as your name, email address, mobile number, and the amount of coverage that you will like to opt for. You can also choose add-ons to upgrade the cover for your family by paying an extra premium.

     
  3. Payment information- 
    Based on the parameters filled by you, the insurance company will calculate the amount of premium and offer you a quote. If you are satisfied with the quote, you can go ahead with making the payment through any of the payment gateways offered by the insurance company.

     
  4. Fill the proposal form
    After making the payment, fill the proposal form which would take only a few minutes. Also, upload relevant documents along with the proposal form before submitting it. The insurance company generally requires three sets of documents in order to issue a term plan. The documents are: 
    1. Income proof such as salary slip of last 3 months, income tax returns, bank statement of 6 months and form 16 
    2. Address proof and ID proof such as an Aadhaar card, voter ID, passport, driving licence, etc. 

       
  5. Apply for Medicals- 
    Depending on your age, smoking habits and sum assured selected, the insurance company will require you to undergo medical screening before issuing the term insurance plan.

You can also visit the nearest branch of PNB MetLife insurance to buy a term plan or call at 1800 425 6969 for any assistance regarding applying for a PNB MetLife term insurance policy

Max Life Term Insurance Riders

Riders are additions cover over and above the base insurance plan. They provide you with additional benefits at a nominal premium. Max Life offers the following term plans: 

  1. PNB MetLife Accidental Death Rider Plus- Under the rider, if the life assured suffers death due in an accident, the chosen accidental death benefit in the rider would be paid to the nominee that would be in addition to the sum assured in the base plan. 
  2. PNB MetLife Accidental Disability Benefit Rider- under the slider the life assured is paid a fixed accidental disability benefit if he or she suffers disability due to an accident during the term of the rider.
  3. PNB MetLife Serious Illness Rider- Serious Illness Rider pays a fixed amount on the first diagnosis of 10 covered serious illnesses.
  4. PNB MetLife Critical Illness Rider- If the life assured is diagnosed of the two critical illnesses i.e cancer and heart attack, then critical illness benefit is paid to the life assured to help him/her to meet the expensive treatment cost of such disease. 

PNB MetLife Term Insurance Claim Process

PNB MetLife provides an easy claim process so that your loved ones can make a claim which is rightfully theirs and fuel their ambitions and dreams. PNB MetLife offers 3 easy steps to make a claim of PNB MetLife term insurance:

  1. Step 1: Apply for your claim- You can apply for your claim by intimating the insurance company in any of the following ways:
    1. File a claim online by visiting the website of the insurance company or by just clicking on https://www.pnbmetlife.com/wps/portal/metcustomer/intimateclaim
    2. You can write an email to the insurance company at claimshelpdesk@pnbmeglife.com 
    3. You can send a letter to the insurance company via post to its registered address

       
  2. Step 2: Fill the claim form- Download the claim form from the website of the company and fill it with relevant details such as your name, address, email ID, and contact details. Along with the claim form, you will have to submit relevant documents. The documents that are required to be submitted are:

In the case of Natural Death Claim

  • Copy of death certificate of the life assured issued by the local authority
  • Original policy document
  • Doctor’s certificate
  • Claimant’s statement in the claim form and proof of the relationship of the claimant with the life assured
  • Address and photo ID proof of the claimant along with claimants cancelled cheque leaf or bank passbook

Additional document in case of unnatural and accidental death claim

  • Attested copy of panchnama, FIR or inquest report
  • Attested copy of viscera report or the post-mortem report
  • Copy of the newspaper cutting, if any

Additional documents in case of critical illness claim

  • Discharge summary sheet from the concerned hospital
  • A certificate from two independent doctors specialised in the treatment of such critical illnesses certifying the insured terminal illness

     
  1. Step 3: Claim your pay-out- 
    After all the documents are received by the insurance company, it will intimate you of the decision within 30 days of the receipt of the documents. 

PNB MetLife Term Insurance Customer Care Details

Company Websitewww.pnbmetlife.com 
Company AddressUnit No.701, 702, & 703, 7th Floor, West Wing, Raheja Towers, 26/27  M. G Road, Bangalore- 560001, Karnataka
Corporate Number91 22 41790000
Customer Service9180 2650 2244
Toll-free number1800 425 6969
Fax9122 4179 0203
Email addressindiaservice@pnbmetlife.co.in 
SMSSMS HELP to 256 07071

PNB MetLife Term Insurance Review

PNB MetLife provides a wide distribution channel combined with global insurance expertise and a wide product range making it a trusted and strong name in the insurance sector of India.  It is a leading global innovator and recognised leader in protection planning and savings and retirement solutions across 40 countries. With a strong branch network of 15000 across 107 locations in India, the company continues to be consistently profitable and insure high-quality service to its customers. PNB MetLife offers a wide range of term policies with benefits to choosing the pay-out option, premium paying term, cover your spouse, whole life coverage, etc. PNB MetLife term insurance is an ideal choice for those people who are looking for a trusted and reliable term insurance.

Frequently Asked Questions
visa verified mastercard pcidss compliant rupay
  • Paytm Insurance Broking Private Limited. Address: 136, 1st Floor, Devika Tower, Nehru Place, NEW DELHI, South Delhi, Delhi, India, 110019
  • Registration No. 700. Valid till 16/02/2023
  • CIN - U66000DL2019PTC355671