PNB MetLife Life Insurance

PNB MetLife India Insurance Company Limited was founded in the year 2001. It is jointly owned by Punjab National Bank Limited, MetLife International Holdings LLC, Jammu & Kashmir Bank Limited, M. Pallonji and Company Private Limited as well as by other private investors. Though the company is owned by various investors, PNB and MetLife have the major shareholding and provide the company with their joint experiences. While PNB has rich experience of the banking and financial sector, MetLife is a leading international insurance company which brings in the necessary insurance expertise.

Benefits offered by PNB MetLife India

PNB MetLife is a leading life insurance company in India because of the following USPs of the company –

• The company has established its presence in 109 locations spread all over India and serves more than 206 million customers
• The company offers a range of life insurance plans which help customers meet all the important financial goals of their life
• For the second time in a row, PNB MetLife was recognized among the Best Brands in 2020
• In 2020, the company also launched “Claim Assure” where it promises a 3-hour claim decision initiative
• The company has received various awards with the latest one being the ‘Best in Diversity & Inclusion’ presented by the People Matters Awards 2019
• The company has also won the Risk Team of the Year Award at the ERM World Summit & Awards 2019
• The company offers the latest technical facilities so that you can get complete online support when buying a plan or at the time of making a claim

Life insurance plans offered by PNB MetLife Insurance Company

MetLife India offers different types of life insurance plans in different categories. These categories and the range of plans in each of them are described below –

Protection plans

Protection plans are term insurance plans which are designed to protect the loss of income in case of the breadwinner’s untimely death. Term plans offer coverage against premature death. If the insured dies during the policy tenure, term plans pay a death benefit to the family. This benefit ensures that the family is financially protected even when the bread-winner is not around to provide for them.

Protection plans offered by PNB MetLife India

PNB MetLife Mera Plan Plus

PNB helps you get a protection plan for yourself and your family at a very nominal and affordable rate so that there is financial support in times of critical illness, disability, terminal illness and also death.

Features of PNB MetLife Mera Plan Plus

1. You can get a lifetime coverage till the age of 99
2. By paying a small amount, you can also cover your spouse under the same plan
3. You can choose to receive lump sum benefit, monthly income till 10 years, or both of these options.
4. The plan offers you the choice of 3 benefit options:
   1. Life
   2. Life Plus
   3. Life Plus Health Benefit
5. The plan also helps financially secure your child’s higher education
6. The option of “Return of Premiums” is also available
7. Choose a premium paying option that best suits your requirements
8. The Step-Up benefit allows you to increase the cover by 10% per year for the upcoming 10 years
9. The premium that is to be paid depends on the basic sum assured, policy term, entry age, smoker status, premium payment term, cover option, benefit option, and return of premium option chosen.

Eligibility criteria for PNB MetLife Mera Plan Plus

Given below are the eligibility criteria that you need to fulfil in order to purchase this plan and enjoy the benefits:

Particulars	Details
Age at entry	18 to 60 years
Age at maturity with RoP	28 to 75 years
Age at maturity without RoP	Min- 28 yearsMax- Life and Life Plus- 99 yearsLife Plus Health- 75 years
Sum Assured	Minimum: INR 25 lakhsMaximum: No limit, subject to Underwriting
Premium Paying Term	Single PayLimited Pay (5, 10, 15, 20 and shall be paid till the age of 60)Regular Pay

PNB MetLife Guaranteed Savings Plan

Guaranteed Savings Plan, as the name suggests, is an insurance policy that not only helps you with basic benefits but also provides you guaranteed additions on cumulative premiums. So, to secure your and your family’s future, you can choose this plan.

Features of PNB MetLife Guaranteed Savings Plan

• You get a guaranteed sum on maturity
• An additional benefit is guaranteed with cumulative premiums
• You get life cover till the maturity of your plan

Eligibility for PNB MetLife Guaranteed Savings Plan

By fulfilling the following eligibility criteria, you can purchase this insurance policy:

Premium	Pay 5	Pay 10
Premium term	5 years	10 years
Policy term	10 years	20 years
Minimum age (entry)	8 years	3 years
Maximum age (entry)	60 years	60 years
Maximum age at maturity	70 years	80 years
Minimum annual premium	INR 46, 480	INR 14, 178
Maximum annual premium	As per underwriting	As per underwriting
Minimum sum assured	INR 4,00,000	INR 1,50,000
Maximum sum assured	As per underwriting	As per underwriting
Premium payment mode	Yearly/half-yearly/monthly	Yearly/half-yearly/monthly

PNB Saral Jeevan Bima plan

Term life insurance is one of the most sought-after life insurance. PNB also offers you the ease of buying this life insurance. The institution makes no difference in offering the same policy terms and conditions to all its insurers across the country. Enhanced customer service and better interactions make this term policy plan a promising one.

Features of PNB MetLife Saral Jeevan

The following are the features of the PNB Saral Jeevan Bima plan:

1. It covers your whole family and provides them financial support in case of your demise.
2. You can choose a term policy plan for a fixed number of years ranging between 5 years to 40 years.
3. Choosing the premium plan remains your choice. You can either pay the complete amount at once or throughout your policy term. You can also choose to pay a limited premium option.
4. The plan offers a death benefit to the nominee in case of death of the insured, which is the highest of the following:
   1. 10 times the annualized premium
   2. 105% of the premiums paid in all as on date of death
   3. Absolute amount that has been assured
5. The minimum and maximum entry age for the plan is 18 and 65 years respectively

Eligibility criteria for PNB MetLife Saral Jeevan

The following are the eligibility criteria for the PNB MetLife Saral Jeevan plan. If you fulfil these criteria, you are all set to purchase this insurance plan.

Details	Minimum	Maximum
Age at Entry	18	65
Age at Maturity	23	70
Sum Assured	INR 5,00,000	INR 25,00,000
Premium Paying Term	Single Limited (5 Pay, 10 Pay) Regular
Tenure of the Policy	Single/Regular Limited 5 Pay Limited 10 Pay	5 years6 years11 years
Payment mode	Yearly / Half Yearly / Quarterly / Monthly

PNB MetLife Family Income Protector

MetLife Family Income Protector is an insurance plan offered by PNB that helps you secure your family financially, even after your untimely and unfortunate death.

Features of PNB MetLife Family Protector

1. You can buy this plan online
2. In case of the insured individual’s death or disability, a lump sum amount is paid
3. It offers guaranteed monthly income for up to 20 years.
4. Your family gets financial support even in your absence
5. You get a guaranteed sum if diagnosed with any disease listed in the PNB MetLife Family Income Protector.
6. This policy helps you save taxes under section 80C and Section 10 (10D) under the Income Tax Act
7. You get the freedom of choice of tenure and monthly income
8. The term assurance plan premium is returned to you at the time of maturity of the plan. If you opt for TRoP, up to 110% premium amount is returned.

Eligibility criteria for PNB MetLife Family Protector

By fulfilling these eligibility criteria, you can start the benefits of this insurance policy:

Particulars	Conditions
Minimum/Maximum age at entry	25 years – 60 years (55 for a Policy term of 20 years)
Maximum age at maturity	75 years
Monthly income options	INR 10,000/-,INR.25,000/-, INR 50,000/- INR 75,000/- & INR.100,000/-
Plan options	Term Cover & Term with Return of Premium Option (TROP)
Premium paying options	Yearly, Half-Yearly, Monthly & PSP modes

PNB MetLife Mera Mediclaim Plan

This insurance is a comprehensive plan that covers health insurance, life insurance, and also consists of an inbuilt terminal illness cover.

Features of MetLife Mera Mediclaim Plan

PNB MetLife Mera Mediclaim Plan has some attractive and beneficial features that you can avail:

1. It offers you life cover along with inbuilt terminal illness
2. It also helps you keep yourself and your family secure through health benefits
3. You can avail of 7.5% discounts on premium
4. The policy offers the advantage of an automatic sum insured recharge
5. The plan helps your family with assured amount even in your absence
6. The plan offers hospitalisation cover for more than 540 day-care treatments.
7. The plan gets you covered in more than 7500 hospitals across the country
8.  offers special rates for women

Eligibility Criteria for MetLife Mera Mediclaim Plan

If you conform to these eligibility criteria then you can purchase this policy and avail the benefits:

Particulars	Conditions
Age at entry	Minimum: 18 years Maximum: 65 years
Age of Maturity	Minimum: 28 years Maximum: 80 years
Term of the Plan	10 years to 40 years
Premium paying options	Regular premium on an annual basis
Maximum Sum Assured	INR 25 lakh

1. PNB MetLife Mera Term Plan

This is a term insurance plan which offers you the benefit of customisation as per your coverage needs. The features of the plan are as follows –

1. There are four death benefit options from which you can choose any one
2. These options give you the death benefit in a lump sum, in monthly incomes or in a combination of both
3. You can choose the Life Stage Benefit which allows you to buy an additional cover on marriage and/or child birth
4. The plan can also be chosen on a joint life basis wherein a married couple can be covered under the same plan
5. You can avail coverage till 99 years of age

Eligibility criteria of PNB MetLife Mera Term Plan:

Entry age	18 years to 65 years
Sum assured	INR 10 lakhs to INR 500 crores
Policy term	10 years to 81 years
Premium	Depends on the plan option selected, sum assured, age and term

2. PNB MetLife Mera Jeevan Suraksha Plan

This is a flexible term insurance plan which allows you various options to make your plan tailor-made for your needs. The features of the plan are as follows –

1. There are four death benefit options. Option 1 pays a lump sum benefit on death, Option 2 allows joint life cover, Option 3 pays a lump sum benefit and a fixed monthly income and Option 4 pays a lump sum benefit and increasing monthly incomes
2. There is an inbuilt terminal illness cover under all four plan options. If you are diagnosed with a terminal benefit, the claim would be admissible
3. You can choose to get a refund of your premiums on policy maturity
4. Women can enjoy lower premium rates

Eligibility criteria of PNB MetLife Mera Jeevan Suraksha Plan:

Entry age	18 years to 65 years
Sum assured	INR 25 lakhs onwards
Policy term	10 years to 40 years
Premium	Minimum – INR 3885 Maximum – no limit

3. MetLife Grameen Ashray Insurance Plan

This is a micro term insurance plan which is designed for the rural population of India. The features of the plan are as follows –

1. The policy has very low and affordable premium rates
2. The death benefit is paid if the insured dies during the policy term

Eligibility criteria of MetLife Grameen Ashray Insurance Plan

Entry age	18 years to 55 years
Sum assured	Minimum – INR 5000 Maximum – INR 50,000
Policy term	5 years
Premium	Minimum – INR 61 Maximum – INR 1208

4. PNB MetLife Aajeevan Suraksha Plan

This term insurance plan allows you the flexibility of paying premiums at once or for a limited period while coverage is promised lifelong. The features of the plan are as follows –

1. You can choose a fixed plan duration or get coverage till 99 years of age
2. There are four death benefit options. You can choose to cover your spouse under the plan, receive a lump sum benefit or receive the benefit in uniform or increasing monthly incomes
3. You can get the premiums refunded on maturity if you choose the return of premium option
4. Two optional riders are also available with the plan

Eligibility criteria of PNB MetLife Aajeevan Suraksha Plan 

Entry age	18 years to 65 years
Sum assured	Minimum – INR 25 lakhs Maximum – no limit
Policy term	10 years to entry age – 99
Premium	Minimum – INR 61 Maximum – INR 1208

5. PNB MetLife Complete Care Plus Insurance Plan

This is a group term insurance plan which covers a group of individuals against the risk of premature death. The features of the plan are as follows –

1. This policy is solely designed for covering the employees of an organisation
2. The sum assured is payable either on terminal illness or death of the employee
3. You need only 10 minimum employees to buy this plan

Eligibility criteria of PNB MetLife Complete Care Plus Insurance Plan

Entry age	18 years to 80 years
Sum assured	Minimum – INR 5000/member Maximum – INR 100 crores/member
Policy term	1 year
Premium	Minimum – INR 2915/member Maximum – INR 1000 crore per group

6. PNB MetLife Bima Yojana Plan

This is a group micro insurance plan which offers term insurance coverage to a group of rural people. The features of the plan are as follows –

1. The policy is issued to cover the repayment risk of loans taken by rural individuals
2. The sum assured can be chosen to remain uniform over the coverage period or reduced with the reducing balance of the loan
3. Coverage can also be taken on a joint life basis covering the member and the spouse under one policy

Eligibility criteria of PNB MetLife Bima Yojana Plan

Entry age	18 years to 69 years
Sum assured	Minimum – INR 1000/member Maximum – INR 2 lakhs/member
Policy term	6 months to 84 months
Premium	Depends on age, term, plan option and sum assured

7. PNB MetLife Group Term Life Plus Plan

This is a simple group term plan which covers a group of individuals. The features of the plan are as follows –

1. The sum assured in case of death of the member is paid to the family
2. You can also convert this policy to an individual term insurance plan if you leave your job

Eligibility criteria of PNB MetLife Group Term Life Plus Plan

Entry age	15 years to 80 years
Sum assured	Minimum – INR 1000 Maximum – no limit
Policy term	1 year
Premium	Depends on sum assured, age and group size

8. PNB MetLife POS Suraksha Plan

This is a return of premium term plan which not only allows you coverage over the policy tenure, it also returns your premiums if you survive till maturity. The salient features include the following –

1. No pre-policy medical check-ups are required to buy the plan
2. A minimum of 105% of the premiums received till death is promised as the death benefit
3. You can avail the death benefit in one lump sum or in a series of monthly incomes

Eligibility criteria of PNB MetLife POS Suraksha Plan

Entry age	18 years to 55 years
Sum assured	Minimum – INR 50,000 Maximum – INR 15 lakhs
Policy term	10 years or 15 years
Premium	Minimum – INR 2000 Maximum – depends on sum assured, term, age and death benefit option

9. PNB MetLife Family Income Protector Plus Plan

This plan is a term insurance plan which also promises a maturity benefit. The highlights of the plan are mentioned below –

1. The death benefit is paid in the form of monthly incomes and you can choose to receive incomes for up to 20 years
2. You can choose the monthly income that you want your family to receive in your absence
3. 110% of the aggregate premiums paid are refunded if the plan matures if you choose the return of premium option

Eligibility criteria of PNB MetLife Family Income Protector Plus Plan

Entry age	25 years to 60 years
Sum assured	Minimum – INR 5000 Maximum – INR 50,000
Monthly incomes	Minimum – INR 10,000 Maximum – INR 1 lakh
Policy term	10, 15 or 20 years
Premium	Minimum – INR 9.10 lakhs Maximum – INR 1.42 crores

10. PNB MetLife Loan and Life Suraksha Plan

This is a group term insurance plan which is allowed for borrowers who avail loans. The plan’s features are as follows –

1. There are two options of coverage under the plan. Under the level coverage option, the sum assured remains the same throughout the policy duration while under reducing coverage option, the sum assured reduces every year
2. You can take a joint life coverage covering yourself and your spouse
3. The sum assured can be increased if required
4. The plan also has a surrender benefit

Eligibility criteria of PNB MetLife Loan and Life Suraksha Plan

Entry age	15 years to 65 years
Sum assured	Minimum – INR 5000/member Maximum – no limit
Policy term	2 years to 30 years
Premium	Depends on sum assured, coverage option and term

11. PNB MetLife Complete Loan Protection Plan

This is also a group term plan which is designed for covering the outstanding balance of loans when borrowers die before repayment. The features include the following –

1. There are four coverage options. You can avail inbuilt coverage for terminal illness, accidental death and disablement and critical illness under these options
2. The coverage can be level throughout the duration of the plan or reduce at a specified rate
3. Premiums can be paid for a limited period or in one lump sum

Eligibility criteria of PNB MetLife Complete Loan Protection Plan 

Entry age	14 years to 75 years
Sum assured	Minimum – INR 5000 Maximum – INR no limit
Policy term	2 years to 40 years
Premium	Depends on sum assured, term and coverage option

Health plans

Health plans are those which pay a specified benefit if you suffer from a covered health contingency. The plan benefit helps you meet the medical costs incurred on the contingency that you face. PNB MetLife India offers one type of health insurance plan which is described below –

1. PNB MetLife Mera Heart and Cancer Care Plan

This plan offers you fixed coverage benefits in case of cancer and heart related illnesses. The features of the plan are as follows-

1. You can choose to get coverage for cancer, for heart or for both
2. Lump sum benefits are paid at the different stages of the illness that you suffer
3. In case of severe stage of claims, you can get monthly income for your family
4. There is also an option to get the premiums refunded if the plan matures and you don’t suffer from any illness
5. There is an inbuilt life and terminal illness cover which pays a benefit in case of death or diagnosis of terminal illness
6. Premiums would be waived once a claim is made

Eligibility criteria of PNB MetLife Mera Heart and Cancer Care Plan

Entry age	18 years to 65 years
Sum assured	Minimum – INR 5 lakhs Maximum – INR 80 lakhs
Policy term	10, 15 or 20 years
Premium	Depends on sum insured, age, term and plan option selected

Traditional savings plans

Traditional savings plans are endowment or money back life insurance plans which help you create a guaranteed corpus for future. These plans promise either a death benefit or a maturity benefit and help in savings.

Traditional savings plans offered by PNB MetLife India

1. PNB MetLife Super Saver Plan

This is a participating endowment plan which promises you bonus additions to grow your savings. The plan has the following features –

1. There are three coverage options under the plan which are as follows-
   1. Savings – a lump sum benefit is paid on death or maturity
   2. Savings + Family Care – a lump sum benefit is paid on death and future premiums are waived. On maturity, the maturity benefit is payable
   3. Savings + Health Care – this option covers 35 critical illnesses. If the insured suffers from any covered illness, the premiums are waived off
2. You can also choose to receive bonus in one lump sum or through the policy tenure

Eligibility criteria of PNB MetLife Super Saver Plan

Entry age	30 days to 60 years
Sum assured	Minimum – INR 2.20 lakhs Maximum – no limit
Policy term	10 years to 20 years
Premium	Minimum – INR 20,000 Maximum – no limit

2. PNB MetLife Guaranteed Increasing Income Plan

This is a limited premium savings plan which promises you increasing annual incomes once the premium paying term is over. The plan’s benefits are as follows –

1. Annual incomes increase by 10% after every year
2. You get a guaranteed sum assured on maturity of the policy. This sum assured ranges from 40% to 85% of the sum assured that you have selected
3. Death benefit can be received in lump sum or in increasing annual incomes
4. Optional riders are also available under the plan for a wider scope of coverage

Eligibility criteria of PNB MetLife Guaranteed Increasing Income Plan:

Entry age	30 days to 60 years
Sum assured	Minimum – INR 1.50 lakhs Maximum – no limit
Policy term	10 years to 24 years
Premium	Minimum – INR 14,156 Maximum – no limit

3. PNB MetLife Guaranteed Savings Plan

This is an endowment assurance plan wherein you get a guaranteed benefit on maturity or early death. The plan’s features include the following –

1. 5% to 10% of the cumulative premium is added as guaranteed additions during the premium paying term
2. Up to 130% of the sum assured is promised as the maturity benefit depending on the premium payment term

Eligibility criteria of PNB MetLife Guaranteed Savings Plan

Entry age	3 years to 60 years
Sum assured	Minimum – INR 1.50 lakhs Maximum – no limit
Policy term	10, 15 or 20 years
Premium	Minimum – INR 14,178 Maximum – no limit

4. PNB MetLife Endowment Savings Plan Plus

This is a participating endowment plan which offers the following benefits to policyholders –

1. There are two coverage options of Savings and Savings Plus
2. Under Savings Plus option you get a premium waiver benefit wherein the premium is waived if you suffer from any of the covered critical illnesses
3. Bonus addition help in building a substantial corpus

Eligibility criteria of PNB MetLife Endowment Savings Plan Plus

Entry age	8 years to 60 years
Sum assured	Minimum – INR 2.20 lakhs Maximum – no limit
Policy term	10 years to 25 years
Premium	Minimum – INR 18,000 Maximum – no limit

5. PNB MetLife Guaranteed Income Plan

This is a non-participating endowment insurance plan which gives you guaranteed annual incomes to meet your liquidity needs. The features which the plan has are as follows –

1. Premiums are payable only for a limited tenure
2. After the premium payment term is over, guaranteed annual incomes are paid till the policy tenure
3. On maturity, 30% to 55% of the sum assured is paid
4. You get the full sum assured in case of death irrespective of the income already received

Eligibility criteria of PNB MetLife Guaranteed Income Plan

Entry age	3 years to 60 years
Sum assured	Minimum – INR 1.50 lakhs Maximum – no limit
Policy term	10, 15 or 20 years
Premium	Minimum – INR 12,357 Maximum – no limit

6. PNB MetLife Money Back Plan

This is a traditional money back insurance plan wherein the sum assured is paid in instalments over the policy duration. Other features of the plan are as follows –

1. 10% of the sum assured is paid annually from the fifth policy year to the ninth year
2. 60% of the sum assured is paid on maturity
3. You get the full death benefit even if the plan has already paid money back benefits before death

Eligibility criteria of PNB MetLife Money Back Plan

Entry age	13 years to 55 years
Sum assured	Minimum – INR 2.50 lakhs Maximum – INR 5 crores
Policy term	10 years
Premium	Depends on age and sum assured

7. PNB MetLife Bachat Yojana

This is a simple endowment plan which can be taken for longer tenures to create a good corpus. The features of the plan are as follows –

1. The plan earns simple reversionary bonuses during policy tenure and a final bonus on maturity or death
2. Premiums are payable only for a limited period

Eligibility criteria of PNB MetLife Bachat Yojana

Entry age	20 years to 60 years
Sum assured	Minimum – INR 64,800 Maximum – INR 5 lakhs
Policy term	15 years
Premium	Minimum – INR 6000 Maximum – INR 23,999

8. PNB MetLife Bhavishya Plus Plan

This is a micro insurance plan meant for the rural population of the country. The plan is a money back plan which offers an enhanced death benefit. Here are the plan’s features –

1. 20% of the sum assured is paid annually in the last three policy years
2. You get bonuses from the end of the third policy year till maturity or death
3. In case of death, the future premiums are waived off and the death benefit is paid. The plan runs undisturbed and you get the promised survival benefits and maturity benefits when due

Eligibility criteria of PNB MetLife Bhavishya Plus Plan 

Entry age	20 years to 45 years
Sum assured	Minimum – INR 92,320 Maximum – INR 5 lakhs
Policy term	12 years to 24 years
Premium	Minimum – INR 8000 Maximum – INR 17,999

9. PNB MetLife College Plan

This is a child insurance plan which has been designed to provide for the education expenses of your child, whether or not you are around. The plan offers the following features –

1. 20% of the sum assured is paid as money back benefits in the last three policy years
2. 40% of the sum assured and accrued bonuses are paid when the plan matures
3. In case of death, the premiums would be waived off. The death benefit would be paid immediately. The plan would, however, continue till the intended duration. The money back benefit and maturity benefit would be paid as and when they accrue

Eligibility criteria of PNB MetLife College Plan

Entry age	20 years to 45 years
Sum assured	Minimum – INR 2,12,040 Maximum – INR 5 crores
Policy term	12 years to 24 years
Premium	Minimum – INR 18,000 Maximum – INR 42,44,482

10. PNB MetLife Income Protection Plan

This is a savings plan which promises the maturity and death benefits that you would receive. The benefits of the plan are as follows –

1. You get up to 150% of the total premiums paid when the plan matures
2. The death benefit can be taken in lump sum or in monthly incomes
3. Monthly incomes are paid for ten years to ensure financial security for your family after your death

Eligibility criteria of PNB MetLife Income Protection Plan 

Entry age	18 years to 55 years
Sum assured	Minimum – depending on the minimum premium Maximum – INR 10 lakhs
Policy term	5 years to 20 years
Premium	Minimum – INR 5500 Maximum – depends on the sum assured

11. PNB MetLife Monthly Income Plan – 10 Pay

This is a limited premium savings plan wherein you are required to pay premiums only for ten years. The benefits of the plan are as follows –

1. Bonuses are added to the plan which increases your savings
2. The bonus can be taken as a lump sum on maturity. Alternatively, you can also use the bonus to increase the monthly income
3. On death the family can get a lump sum benefit or a monthly income

Eligibility criteria of PNB MetLife Monthly Income Plan – 10 Pay

Entry age	18 years to 55 years
Monthly income	Minimum – INR 1500 Maximum – INR 1 lakh
Sum assured	Depends on the monthly income and age
Policy term	10 years
Premium	Depends on monthly income, age and sum assured

Child Plans

PNB MetLife Smart Platinum Plus

It is a savings-oriented insurance plan as it supports your family financially in case of your unfortunate demise or critical illness. Following are the main features of this plan.

Features of PNB MetLife Smart Platinum Plus

1. You get a lifetime cover with this insurance plan
2. You get 2 plan options: wealth option and wealth plus care option
3. You can enhance your fund value at the end of the 10th policy year with a fund booster.
4. You get a choice of 11 unit-linked fund
5. Get a whole life cover till the age of 88 or till 99 years of age.
6. You can pay premium via regular, limited, or single pay.

Eligibility criteria for PNB MetLife Smart Platinum Plus

Here is a detailed table of the eligibility criteria needed to be fulfilled in order to purchase this policy.

Particulars	Wealth Option	Wealth + Care Option
Age at entry	Minimum- 30 days Maximum- 70 years	Minimum- 18 years Maximum- 65 years
Age at maturity	Maturity Option 1: 80 years Maturity Option 2: 99 years
Term of Policy	Maturity Option 1: 80 – age at entry; Maturity Option 2: 99 years – age at entry
Premium term	Minimum: Single Regular- 10 Limited- 5  Maximum: Single Regular- 99 Limited- 80 For limited pay: Subject to the age of the	Minimum: Limited pay – 6  Maximum: 25 (subject to age of the life assured)
Annualized Premium	Annual Mode- INR 30, 000 Other Modes- INR 60, 000
Sum assured	As per the sum assured multiple
Mode for premium payment	Annual, Half Yearly and Monthly

PNB MetLife Century Plan

This is an insurance plan that helps you financially till the age of 100 and an opportunity to fulfil all your dreams and a lifelong cover. It keeps you financially strong to help fulfil your child’s aspirations and also makes retirement comfortable.

Features of PNB MetLife Century Plan

1. By paying for a period of 15 years, you get financial support and protection till the age of 100
2. At the time of maturity, you get a guaranteed lump sum, amount
3. Provides you Family Care Benefit by waiving off premium in case of the death of the insured person.
4. In case of any urgency, you can partially or fully withdraw your survival benefits.
5. Super, Smart, and Future Income are the three income options with this plan.

Eligibility criteria for PNB MetLife Century Plan

By fulfilling the below-mentioned eligibility criteria, you can successfully purchase this policy plan:

Particulars	Super Income	Smart Income	Future Income	Premium Payment Term
Minimum age at entry	18 years 0 (30 days)	18 years 0 (30 days)	18 years 0 (30 days)	All All
Maximum age at entry	50 years 55 years 60 years	50 years 55 years  65 years	50 years 55 years  60 years	5 to 10, 12, and 15 5 to 9 10, 12,and 15
Age at maturity	Maturity Option 1: 80 years; Maturity Option 2: 100 years			All
Minimum assured sum	6,00,000 2,40,000			5 to 9  10, 12 and 15
Maximum assured sum	Based on Board Approved Underwriting policy			All
Minimum annualized premium	60,000 24,000			5 to 9 10, 12 and 15
Maximum annualized premium	As per Board Approved Underwriting Policy.			All
Term of policy	Maturity Option 1: 80 minus Age at entry Maturity Option 2: 100 minus Age at entry			All

Unit Linked Insurance Plan (ULIP)

Unit Linked Insurance Plans are market linked insurance-cum-savings plans which offer life insurance coverage as well as returns linked to the capital market. These plans are ideal for savings as you can earn the best returns through them.

ULIPs offered by PNB MetLife India

1. MetLife Dhan Samriddhi Plan

This is a single premium unit linked plan wherein you are required to pay premiums only once while the plan continues for the chosen duration. The features of this plan are as follows –

1. You can earn loyalty additions on plan maturity if you pay a premium of INR 10 lakhs and above
2. The maturity benefit can be received in instalments through the Settlement Option feature

Eligibility criteria of MetLife Dhan Samriddhi Plan 

Entry age	8 years to 65 years
Sum assured	Minimum – 1.25 times the single premium Maximum – 10 times the single premium
Policy term	10 years
Premium	Minimum – INR 2 lakhs Maximum – no limit

2. PNB MetLife Whole Life Wealth Plan

As the name suggests, this plan is a unit linked plan which covers you for your entire life. The features of the plan are as follows –

1. Premiums are payable only for a limited time but coverage is available till 99 years of age
2. You can choose two coverage options – Wealth Option and Wealth + Care option
3. Under the second option there is an inbuilt critical illness benefit which covers 5 illnesses. The premiums are waived if you suffer from any covered illness
4. Fund boosters are also added to the fund value at the end of the 10th and 15th policy year

Eligibility criteria of PNB MetLife Whole Life Wealth Plan 

Entry age	30 days to 65 years
Sum assured	7 to 40 times the annual premium
Policy term	99 – entry age
Premium	Minimum – INR 48,000 Maximum – no limit

3. PNB MetLife Smart Platinum Plan

This is also a whole life unit linked plan but it offers various flexible benefits which are described below –

1. You can pay premiums either for a limited period or for your whole life
2. There are six funds to choose to invest your money
3. You can choose the auto rebalancing feature to rebalance your investments in the desired funds

Eligibility criteria of PNB MetLife Smart Platinum Plan

Entry age	7 years to 70 years
Sum assured	Depends on the premium paid and age
Policy term	10, 15 or 20 years
Premium	Minimum – INR 30,000 Maximum – no limit

4. MetLife Smart Child Plan

This unit linked plan is designed for meeting the financial needs of your child. The benefits offered by the plan are as follows –

1. You get loyalty additions which increase the fund value
2. There is an inbuilt premium waiver benefit which waives the premiums in case of death of the insured. The policy continues till maturity and pays the fund value when the plan matures
3. Systematic transfer option is available under the plan which transfers your investments from equity to debt to safeguard the returns earned

Eligibility criteria of MetLife Smart Child Plan 

Entry age	18 years to 55 years
Sum assured	10 times the annual premium
Policy term	10, 15 or 20 years
Premium	Minimum – INR 18,000 Maximum – INR 2 lakhs

5. MetLife Smart One Plan

This is a unit linked plan where only a single premium is required. The features of the plan are as follows –

1. There are two investment strategies under the plan – self managed strategy and auto rebalancing option
2. You get a choice of six funds to invest in under the first strategy
3. Auto rebalancing maintains the chosen allocation level in the chosen funds when you don’t manage your investments actively
4. You can choose the systematic transfer option to transfer your fund value systematically into debt funds
5. There is a stop loss option which protects your fund value from being eroded

Eligibility criteria of MetLife Smart One Plan

Entry age	3 months to 65 years
Sum assured	1.25 times the single premium
Policy term	10 years to 20 years
Premium	Minimum – INR 18,000 Maximum – INR 5 lakhs

MetLife Mera Wealth Plan

This is a unit linked plan which offers you flexibility in premium payments. The features of the plan are as follows –

1. You can invest and manage your funds yourself or you can choose the systematic transfer option to safeguard your returns
2. There is an option of six investment funds
3. Loyalty additions are added to the fund value if you continue the plan for longer tenures

Eligibility criteria of MetLife Mera Wealth Plan

Entry age	30 days to 60 years
Sum assured	Single premium – 1.25 times the single premium Regular or limited premium – up to 10 times the annual premium
Policy term	10 years to 30 years
Premium	Minimum – INR 24,000 Maximum – no limit

Retirement plans

Retirement plans are life insurance pension plans which promise you lifelong income after you retire. There are two types of retirement plans – deferred annuity and immediate annuity. Deferred annuity plans let you accumulate a retirement corpus and then get annuities. Immediate annuity plans, on the other hand, are suitable for retired individuals who already have a retirement corpus. These plans start paying annuity immediately after you have bought them. These annuities are paid for your entire lifetime. Thus, retirement plans create source of income even when you no longer work.

Retirement plans offered by PNB MetLife India

1. PNB MetLife Immediate Annuity Plan

This is an immediate annuity plan which starts paying annuities as soon as you buy the policy. The salient features of the plan are as follows –

1. There are thirteen annuity pay-out options which you can choose from
2. You can also cover your spouse to receive annuities under the joint life annuity option
3. You can also choose to receive increasing annuities if you want

Eligibility criteria of PNB MetLife Immediate Annuity Plan 

Entry age	0 years to 90 years
Annuity amount	Minimum – INR 1000/month Maximum – no limit
Policy term	10 years to 20 years
Premium	Minimum – INR 3 lakhs Maximum – no limit

2. MetLife Retirement Savings Plan

This is a deferred annuity plan wherein you can save regularly to create your corpus. The features of the plan are as follows –

1. Bonuses accrued under the plan which enhance the retirement corpus
2. You have the option to postpone your vesting date and receive annuities from 75 years of age

Eligibility criteria of MetLife Retirement Savings Plan 

Entry age	30 years to 65 years
Sum assured	Minimum – INR 3 lakhs Maximum – no limit
Policy term	5 years to 30 years
Premium	Minimum – INR 7044 Maximum – no limit

How to buy PNB MetLife India life insurance plans?

You can buy any life insurance policy offered by MetLife insurance offline or online. To buy offline you can choose the following two options –

1. Offline:
   1. Buying through an agent:
      You would have to find a MetLife insurance agent and then buy the policy from him/her.
   2. Buying through the company
      You can visit the nearest office of PNB MetLife and avail the policy application form. You can then fill up the form and apply for an insurance policy from the company’s office itself.
2. Online:
   Alternatively, you can buy the policy online which is much simpler and easier. To buy online too you have the following two options –
   1. Buying through the company
      You can visit the website of PNB MetLife which is https://www.pnbmetlife.com/, choose the policy that you want to buy and buy the policy online. The company allows its policies to be bought online. You would have to fill up an application form and pay the premium online to apply for the policy.
   2. Buying through Turtlemint
      You can also buy the desired PNB MetLife insurance policy through Turtlemint which is an online platform. Turtlemint is tied up with leading life insurance companies and so you can not only buy a life insurance plan, you can compare the available plans and choose the best. The entire process to buy the policy is online and it takes minutes. You can follow the below-mentioned steps to buy the policy –
      1. Visit https://www.turtlemint.com/life-insurance and choose the financial goal for which you need to buy the policy
      2. Then provide your details like your gender, age, marital status, annual income, smoking preference and the sum assured that you would like
      3. You would then get the quotes of life insurance plans of different companies
      4. You can compare and select the best plan
      5. Fill up an online application form, pay the premiums online and the policy would be bought

Claim process of PNB MetLife India insurance plans

PNB MetLife has taken steps to ensure that your life insurance claim settlement process is as easy as possible. To make a claim under your life insurance policy, you have to take only three steps which are as follows –

1. Inform the insurance company of your claim through a written letter or an email
2. Fill up a claim form and submit the relevant documents required for making a claim
3. After the documents are submitted, the company would take the necessary steps and settle your claims within 30 days. If there is an investigation, the investigation would be completed within 90 days and the claim would be settled within 30 days of such completion

You can also get your life insurance claims settled through Turtlemint. Turtlemint offers its customers the facility of claim settlement through its team of claim experts. All you would have to do is inform the company by calling their helpline number 1800 266 0101 or intimate through an email at claims@turtlemint.com. After intimation the claim department would coordinate with PNB MetLife and get your claims settled at the earliest.

Documents required for claims:

For getting the settlement of your life insurance claims, you would have to submit a list of documents to the insurance company. These documents would depend on the type of claim that you face. The required documents are as follows –

For death claims:

1. Copy of the death certificate
2. Policy bond in the original. If the bond is lost, an Indemnity Bond can be submitted instead
3. Statement from the person making the claim
4. A certificate from the doctor in a specified format
5. Identity proof and address proof of the nominee
6. Cancelled cheque or the copy of the bank passbook of the beneficiary who is supposed to receive the claim
7. Any other documents if required by the insurance company
8. In case of accidental death, the following additional documents should also be submitted –
   1. Attested copy of the inquest report, panchnama or the police FIR if it is an accidental death
   2. Attested copy of the viscera or the post mortem report if it is an accidental death
   3. Copy of the cutting from a newspaper where the accident has been reported (if any)

For critical illness claims:

1. Policy bond in the original. If the bond is lost, an Indemnity Bond can be submitted instead
2. Statement from the person making the claim
3. A certificate from the doctor in a specified format
4. Original or attested copy of the diagnosis and treatment reports
5. Attested copies of all the hospital records like discharge summary, admission sheet, etc.
6. Cancelled cheque or the copy of the bank passbook of the life insured.

For premium waiver claims:

1. Policy bond in the original. If the bond is lost, an Indemnity Bond can be submitted instead
2. Statement from the person making the claim
3. A certificate from the doctor in a specified format
4. Original or attested copy of the diagnosis and treatment reports
5. Attested copies of all the hospital records like discharge summary, admission sheet, etc.
6. A disability certificate which should be issued by a civil surgeon or by a competent specialist within 6 months of injury
7. A certificate certifying the current health status of the insured
8. Police FIR
9. Cancelled cheque or the copy of the bank passbook of the beneficiary who is supposed to receive the claim

For maturity claims:

1. Claim discharge form
2. Identity proof of the policyholder
3. Cancelled cheque or the copy of the bank passbook of the policyholder