PNB Metlife Term Insurance Plan Details 2023
In this article, we will give you information about PNB MetLife Term Plan. We will tell you in detail about the features, benefits, types, etc. of the PNB MetLife Term Insurance Plan.
Together we will also see how many types of riders are offered by PNB MetLife Term Insurance. Apart from this, we will discuss in detail the eligibility conditions, necessary documents, premium, and how to buy it, etc. for this term plan.
What is PNB Metlife Term Insurance Plan?
PNB MetLife India Insurance is one of the leading life insurance companies in India. This company was founded in the year 2000. It is headquartered in Bengaluru. PNB MetLife Term Plan has been offered to provide the services of term insurance plans in India. Through PNB MetLife, this term insurance plan-related plans reach the people.
PNB MetLife works to provide financial security to you and your family with special coverage of its term insurance. If you die, PNB MetLife India Insurance provides financial assistance to your family members.
PNB MetLife Term Insurance offers the benefit of maximum coverage at a lower premium. You can get additional coverage by adding riders to this term insurance.
Features of PNB MetLife Term Insurance Plan
The features of PNB MetLife Term Insurance Plan are as follows:
Your family members are financially secure while you are away owing to the PNB MetLife Term Insurance Plan.
PNB MetLife Term Insurance Plan offers high insurance protection at affordable rates.
PNB MetLife Term Insurance Plan offers 4 sum assured payment options to pay as full lump sum payment, lump sum payment + regular monthly income, lump sum payment + monthly growth on the death of the policyholder.
Using the life stage benefit of PNB MetLife Term Insurance Plan, the policyholder can purchase additional coverage as per the current age without any medical examination.
PNB MetLife Term Insurance Plan offers combined life cover options. Joint life cover covers the policyholder and his spouse.
Combined life cover options are available with the PNB MetLife Term Insurance Plan. The insured and his spouse are covered by joint life insurance.
With the PNB MetLife Term Insurance Plan, you may select a term length between 10 and 81 years (40 years for combined life insurance).
The PNB MetLife Term Insurance Plan includes inexpensive riders to supplement your base term plan, such as the Accidental Death Benefit Rider, Accident Disability Benefit Rider, Critical Illness Rider, and Serious Illness Rider.
Sections 80C and 10(10D) of the Income Tax Act offer tax advantages for the term insurance premium paid under the PNB MetLife plan.
Benefits of PNB MetLife Term Insurance Policy
The benefits of PNB MetLife Term Insurance Plan benefits in Hindi are as follows:
1. Multiple options
PNB MetLife Term Insurance Plan allows you to add multiple options to your policy. You can add terminal illness along with death benefits to it. You have the choice to add a lot of more riders in addition to this. It can be added as it suits you.
You can choose to get your premium refunded as well. When your policy period is over, your premium is refunded to you. Also, you can also provide benefits to your spouse by adding him to your term plan. Thus, a PNB MetLife term insurance plan offers you many options through which you can choose your own term insurance plan.
2. Death Benefits
The sum insured is paid by the insured to the nominee on the death of the person taking the PNB MetLife Term Insurance Plan. For this, the insured can choose any one of the four types of death benefits while taking the policy.
(i) If the insured person passes away, the nominee will get a lump sum settlement.
(ii) As a family income option, 50% of the basic sum amount is provided to the nominee in lump sum while the remaining amount is provided in monthly installments for 10 years.
(iii) As an option to increase family income, 50% of the sum assured is provided to the nominee as a lump sum and paid with an increase of 12% per annum in monthly income for the next 10 years.
(iv) Child benefit option is also provided. In the event of death, a lump sum payment equal to 50% of the claim amount is made to the nominee and till your child is 21 years old, he is provided a regular monthly income so that he can meet his needs.
3. Flexibility
PNB MetLife Term Insurance Plan gives you flexibility in your policy. You can choose your term policy term from 10 to 81 years.
4. Joint Life Coverage
PNB MetLife Term Insurance Plan offers you the option of combined life coverage. Through this, you can add your spouse to your own policy. In this, the insurance coverage given to the spouse will be equal to 50% of the sum insured or can be up to a maximum of ₹ 50 lakh.
5. Life Stage Benefits
Pnb MetLife Term Insurance Plan provides the insured with the option to increase the sum insured at various life stages. Through this you can choose to increase your insurance amount on your marriage, birth of the first child or the birth of a second child etc.
6. Tax Benefits
PNB MetLife Term Insurance Plan also offers you tax benefits. Through this, you can get tax benefits on premiums paid regularly under Sections 80C and 10(10D) of the Income Tax Act.
7. Premium Payment
In pnb metlife term insurance plan, you can choose your premium payment option as per your convenience. In this, you can opt for premium payment monthly or annually for your premium payment. You are provided with full flexibility in premium payment.
Documents Required For PNB Metlife Term Insurance Plan
The documents required for PNB Metlife Term Insurance Plan in Hindi are as follows:
1. Proof of identity (any one of these)
Aadhar Card,
Passport
PAN card,
Voter ID Card,
Driving license.
2. Proof of age (any one of these)
Aadhar Card,
Passport
Voter ID,
driver’s license
birth certificate,
High school mark sheet.
3. Proof of address (any one of these)
Passport
PAN card,
Aadhar Card,
Voter ID,
Official Bank Statement,
Ration Card,
Electricity, telephone, or any other government utility bill.
4. Proof of income
Your recent salary slip from the employer (last three months),
Official bank statements for the last six months,
Form 16,
Your ITR (Income Tax Returns) for the last two-three years
5. Medical Documents
6. Official Photos
Recent passport size photo.
PNB Metlife Term Insurance Plan Premium
PNB MetLife Term Insurance Plan Premium in Hindi depends on your policy coverage. If you have chosen a term plan with more coverage then you will have to pay a higher premium.
You can pay the premium of your PNB MetLife term insurance plan on an annual or monthly basis.
How To Buy PNB Metlife Term Insurance Plan
To buy PNB Metlife term insurance plan, you have to follow the following steps-
First of all, you have to visit the official website of PNB MetLife Insurance Company.
After this, you have to go to the term insurance section and choose your term plan that you want to buy.
Clicking on the chosen term insurance plan will open a form in front of you in which you will have to provide your name, email address, mobile number etc.
After this, you have to click on the ‘Get Quote’ button.
Now you have to choose SumAssured, Policy Term and Premium Amount.
After this, you have to choose the variant of your term insurance plan and if you want to add to the riders, then you have to add riders to it too.
After this, you will have to pay your premium.
After paying the premium, the policy document is sent to your registered email ID. Also, this document is also sent through post to the residential address of your home.
