
Pnb Metlife Term Insurance Policy And Plan
PNB MetLife India Insurance
Our Verdict
PNB MetLife Mera Term Plan Plus is ideal for individuals seeking extensive coverage with customizable benefits. It offers lifelong security, spouse coverage, and critical illness protection, but additional features may increase premium costs.
About the Plan
PNB MetLife Mera Term Plan Plus is a comprehensive term insurance plan offering life cover up to 99 years with flexible premium payment options (Single, Limited, or Regular Pay). It includes coverage for death, terminal illness, accidental disability, and critical illness. Policyholders can customize their plan with return of premium, spouse coverage, and child education support benefits. Additional options like step-up benefits ensure growing coverage over time. The plan provides financial security for families with flexible payout options.
About the Plan
Eligibility
• Minimum Sum Assured :
25 Lakhs
• Maximum Sum Assured :
No limit (subject to underwriting)
• Entry Age :
18 to 60 years (55 years if ‘Pay till 60’ is chosen)
• Premium Payment Term :
Single Pay (one-time payment)
Limited Pay (5, 10, 15, 20 years or Pay till Age 60)
Regular Pay (throughout policy term)
Eligibility
Features of the Product
Terminal Illness
Covered under Life Plus and Life Plus Health options.
Pays the sum assured on death upon diagnosis of a terminal illness.
Total Permanent Disability Payout
Available under Life Plus and Life Plus Health options.
All future premiums are waived upon Accidental Total Permanent Disability (ATPD).
Inflation Protection Coverage
Step-Up Benefit option allows coverage to increase by 10% annually for 10 years
Premium Payment Customizations
Exclusions
If the life assured dies by suicide within 12 months from the policy's commencement or revival, the nominee will receive at least 80% of the total premiums paid up to the date of death or the surrender value, whichever is higher.
Any disability or critical illness resulting from conditions existing before policy issuance or reinstatement is not covered
Disabilities or critical illnesses caused by self-harm or attempted suicide are excluded.
Conditions arising from alcohol abuse, solvent abuse, or drug use not prescribed by a medical practitioner are not covered.
Involvement in unlawful activities or breaches of law with criminal intent leading to disability or critical illness is excluded.
Disabilities or critical illnesses resulting from war, acts of foreign enemies, hostilities, civil war, rebellion, or similar events are not covered.
Engaging in dangerous pursuits like bungee jumping, horse riding, scuba diving, or other activities requiring breathing apparatus underwater is excluded.
Disabilities or critical illnesses occurring while serving in military, naval, or air force operations are not covered.
Exclusions
Accidental Death - Provides lump sum payout for death due to an accident.
Provides lump sum payout for death due to an accident. - Covered under Life Plus Health option.
Includes 50 critical illnesses with an accelerated lump sum payout.
Add-ons

If you smoke
Smokers are charged higher premiums based on underwriting policies.
Note :
Suicide Clause : If the policyholder dies due to suicide within 12 months from:
The policy commencement date, or
The date of policy revival,
The nominee will receive 80% of the total premiums paid or the surrender value (whichever is higher), provided the policy was in force.
Free look up period: 30 days for policies purchased online or through distance marketing.
15 days for policies purchased through other means.
If the policyholder disagrees with the terms, they can cancel the policy and receive a refund after deductions for:
Proportional risk premium for the covered period.
Stamp duty charges.
Medical examination costs (if any).
Grace Period: 30 days for yearly, half-yearly, and quarterly premium payments.
15 days for monthly premium payments.
If the policyholder dies within the grace period, the claim is paid after deducting the due premium.
Still Confused ?
Why OneAssure?
We guide your loved ones every step of the way to ensure they receive the full benefit of their coverage.
About the Company
PNB MetLife is a collaboration between Punjab National Bank and MetLife, dedicated to providing comprehensive life insurance solutions tailored to the diverse needs of Indian families. Their Mera Term Plan Plus is a customizable term insurance offering that provides life coverage up to the age of 99. This plan allows policyholders to include their spouse under the same policy and offers options for premium return upon survival. Additionally, it provides coverage enhancement choices, such as protection against critical illnesses and accidental disabilities, ensuring a robust safety net for policyholders and their loved ones.
The managing director and CEO of this reputed organization Mr Sameer Bansal, follows the ‘Circle of Life’ philosophy to formulate their products and policies that can cater to the different phases of an individual’s life.