PNB Metlife Insurance
  • Whole life coverage
  • Multiple payout options
  • Tax benefits
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PNB MetLife Insurance: Overview

PNB Metlife Insurance commenced its operations in 2001. PNB MetLife follows a philosophy called 'Circle of Life' for products and solutions. It caters to customers' financial requirements covering their 4 different stages of life - children's education, family protection, long-term savings, and retirement. PNB Metlife came into existence in 2001 and continues to be profitable. The company is a joint venture between MetLife International Holdings LLC (MIHL), Jammu and Kashmir Bank Limited (JKB), Punjab National Bank Limited (PNB), M. Pallonji and Company Private Limited, and other private financial backers, MIHL and PNB being the majority shareholders. PNB Metlife Insurance has a robust operating network through multi-channel distribution with bancassurance, agency, and direct channels; PNB MetLife is present in 117 locations across the country with access to over 206 million customers in 15,000 locations through its strong bank partnerships with PNB, JKB, KBL, and other bank partners.

PNB Metlife Insurance ensures to look after your insurance needs by offering:

why-choose

  • Variety of plans

  • Multiple options to purchase

  • Affordable premiums

  • Good customer support

  • Tax benefits
 

Key highlights of PNB Metlife Insurance

To get more insight into PNB Metlife Insurance Company's performance, take a look at the below key highlights that will help you to analyze the company based on its performance:

Solvency Ratio

PNB Metlife Insurance has a Solvency Ratio of 1.9 as per the IRDAI annual report 2022-23. The solvency ratio helps the prospective policyholder assess the ability of a company to meet its financial obligations. As of now, IRDAI mandates maintaining a solvency ratio of 1.50 for every insurer.

Features of PNB MetLife Insurance

There are various features to ICICI Prudential Life Insurance, Let's understand each of them in detail:

  • Solvency Ratio - PNB Metlife Insurance has a Solvency Ratio of 2.5 as per the IRDAI annual report 2022-23. The solvency ratio helps the prospective policyholder assess the ability of a company to meet its financial obligations. Currently, IRDAI mandates maintaining a solvency ratio of 1.50 for every insurer.
  • Claim Support - Claim support of an insurer is a metric that helps you analyze its claims-settling ability. As per the IRDAI annual report of 2022-23, the claim support of PNB Metlife Insurance is 97.80%.
  • Annual Premium - As per the annual report of IRDAI 2022-23, the annual premium of PNB MetLife Insurance is 39,932.78 crores.
  • PAN India Presence - With a wide India presence, PNB Metlife Insurance company ensures that the policyholder can directly visit their nearest branch office for any policy-related or claim-related queries.

Benefits of PNB Metlife Insurance

There are multiple benefits of PNB MetLife Insurance. Read below to understand the plethora of advantages provided by the insurer.

Variety of plans

ICICI Prudential offers various plans to cater to the needs of various policyholders. These plans include Term insurance, ULIPs, Savings plans, Child plans, and Retirement plans. You can choose a plan that right fits your future financial needs.

Multiple options to purchase

You can buy PNB Metlife Insurance through various offline and online sources including ICICI's official website, offline branch, PolicyX.com, insurance brokers, agents, and various web aggregators.

Affordable premiums

PNB Metlife Insurance Plans are available to buy at affordable premiums. You can also choose your policy tenure and premium payment tenure that best suits your requirements.

Good customer support

The customer support provided by an insurer matters a lot for the policyholders when choosing an insurer. The customer support offered by PNB Metlife Insurance Insurance is very quick. You can avail of various services online including premium payment, renewal, claim requests, etc.

Tired of Pushy Sales? Get Insurance, Your Way Tired of Pushy Sales? Get Insurance, Your Way

Rider Benefits You Can Avail With PNB Metlife Insurance Plans

Here are the rider options you can avail with PNB Metlife Insurance Plans to enhance your coverage:

Maternity Benefit Rider

PNB Metlife Insurance Accidental Death Rider

Offers additional payout in case the insured dies due to an accident.

Maternity Benefit Rider

PNB Metlife Insurance Critical Illness Plus Rider

A lump sum is offered if the policyholder is diagnosed with any of the critical illnesses mentioned in the policy document.

Maternity Benefit Rider

PNB Metlife Insurance Permanent & Partial Disability Rider

The insurance company pays a certain sum assured for the next five or ten years in case of permanent or partial disability.

Maternity Benefit Rider

PNB Metlife Insurance Income Benefit Rider

Offers a regular source of income to the family in case of the demise or disability of the policyholder.

Maternity Benefit Rider

PNB Metlife Insurance Waiver of Premium Rider

It will waive off all future premiums and the benefits of the policy will remain the same.

Documents Required to Purchase PNB Metlife Insurance Policy

Here is the list of documents required to buy PNB Metlife Insurance:

  • Regular Smoking
    Photo ID Proof
  • Your Occupation
    Age Proof
  • Pre-Existing Diseases
    Address Proof
  • Your Age
    Medical Records
  • Your Gender
    Income Proof
Photo ID Proof

Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.

How to Buy PNB Metlife Insurance Plans?

PNB Metlife Insurance allows you to buy life insurance plans via two platforms. You can either buy the plan online from the official website of the company or through third-party intermediaries like agents, brokers, etc. Given below is a detailed explanation of both these types of buying processes.

Life Insurance
  • Step 1

    Fill out the form given at the top of this page with the necessary details.

  • Step 2

    Select your income and city. Click on 'Proceed'.

  • Step 3

    Update your education and occupation details.

  • Step 4

    Choose your preferred plan and click on 'Buy this plan'.

  • Step 5

    Select the policy term, premium period, and riders (if required), and then proceed to make the payment. Once the payment is made, you will get a payment confirmation at your registered email address.

Life Insurance
  • Step 1

    Visit the PNB Metlife Insurance official website and scroll down to the end of the page.

  • Step 2

    Click on the 'Buy Online' tab under Popular Links.

  • Step 3

    Click on the tab 'Know More' under the types of plan.

  • Step 4

    Click on the tab 'Calculate' at the top right corner of the page.

  • Step 5

    Fill in the required details, and click on the tab 'Calculate'. Once the payment is made, you will get a payment confirmation at your registered email address.

Why Choose PolicyX.com?

Don't just take our word for it - check out what our happy customers say about us!

All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.

Ravindra Singh

I highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.

Priti varshney

I'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.

Nisha Mary

I bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.

Ajay Shah

PolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.

Vijay Rathod

I purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.

Uma Mahajan

How to File PNB Metlife Insurance?

Every claimant/nominee is assigned a dedicated Claims Relationship Officer who helps through the entire process. The life insurance claim Settlement process at PNB Metlife Insurance involves the following three steps:

Online Process

Your Occupation
1

Claim Intimation

Inform the company about the incident via various channels such as writing an email to PNB MetLife at indiaservice@pnbmetlife.co.in, calling the toll-free number (1800-425-6969), filling out the online claim form on its website, or visiting the nearest branch. A claim reference number/intimation number will be provided to you upon successful registration of the claim.

Your Occupation
2

Document Submission

You have to submit the necessary documents requested by the insurer to process the claim.

In case of natural death: death claim form, death certificate, original policy documents, claimant's identity & residence proof, medical records, and account details of the nominee.

In case of an accidental death: the same documents with two additional ones: FIR and post-mortem report.

Your Occupation
3

Claim Settlement

Once PNB Metlife Insurance receives your claims they will verify all the details. Moreover, they can ask you for any additional documents if required. PNB Metlife Insurance will send you a claim reference number after verifying the submitted documents.

Offline Process

PNB Metlife Insurance settlement procedure can be reported by visiting the local Branch Office. For the details of PNB Metlife Insurance, you can visit their website and locate the nearest branch. You have to submit the essential documents at the branch so that your claim can be processed.

Your Occupation

Exclusions of PNB Metlife Insurance

  • Death occurred due to pandemic such as covid-19 or ebola will not covered by the company.
  • Death, due to indulging in any type of adventure sports.
  • Death due to consumption of any type of drugs and alcohol.
  • Death due to any pre-existing disease that isn't mentioned during the start of the policy.
  • If a policyholder commits suicide during the first 12 months after obtaining the insurance, the nominee receives no death benefit. They receive just the premiums paid up to the date of the incident or the policy's surrender value, whichever is greater.If a policyholder commits suicide during the first 12 months after obtaining the insurance, the nominee receives no death payments. They receive just the premiums paid up to the date of the incident or the policy's surrender value, whichever is greater.

Conclusion

PNB Metlife Insurance is a strong contender for individuals looking for reliable life insurance solutions with a wide array of products, strong customer service, and flexibility. You can contact PolicyX.com at the toll-free number 1800-4200-269 or email us at helpdesk@policyx.com.

Life Insurance

More Queries?

If you have any more queries regarding PNB Metlife Insurance Plans, Renewals, or Claim Procedures, contact our insurance experts at:
1800-4200-269 now!

PNB MetLife India Insurance: FAQs

1. Is it possible to add more than one nominee in my PNB Metlife insurance policy?

Yes, it is possible to add more than one nominee in my PNB Metlife insurance policy. However, the amount will be distributed equally among the nominees.

2. May I know whether PNB Metlife insurance policies are available for NRIs also?

Yes, PNB Metlife insurance policies are available for NRIs as well.

3. How to check the policy status of PNB Metlife Insurance policy?

You need to visit the official website of PNB Metlife and login with your user ID and password. After logging in, you can see the ’policy details tab’. Click on it and you will be able to check your policy status for PNB Metlife Insurance policy.

4. Is there any discount available for fund switches in PNB MetLife Unit Linked Employee Benefit Plan?

Yes, the company offers free switches for the first 4 funds in a policy year in PNB MetLife Unit Linked Employee Benefit Plan.

5. Does PNB MetLife Loan and Life Suraksha plan offer loyalty additions?

Yes, PNB MetLife Loan and Life Suraksha plans offer loyalty additions.

6. Is there any medical test required to opt for PNB MetLife Pradhan Mantri Jeevan Jyoti Bima Yojana?

No, there is no medical test required to opt for PNB MetLife Pradhan Mantri Jeevan Jyoti Bima Yojana.

7. What is the minimum age at entry for a standalone annuity in Joint Life option for PNB MetLife Immediate Annuity Plan?

The minimum age at entry for a standalone annuity in Joint Life option for PNB MetLife Immediate Annuity Plan is 40 years.

8. What if I wish to manage my funds on my own for my PNB MetLife Mera Wealth Plan?

Yes, it is possible. PNB MetLife Mera Wealth Plan offers flexibility to choose between two options, i.e., systematic transfer option and self-managed option.

9. May I know if my PNB MetLife Smart Platinum Plan offers liquidity facilities?

PNB MetLife Smart Platinum Plan offers liquidity facility for withdrawal of partial funds but only after completion of 5 policy years.

10. When will I get the coverage if I opt for PNB MetLife Accidental Disability Benefit Rider Plan?

PNB MetLife Accidental Disability Benefit Rider Plan will provide the coverage only if the disability arises within 180 days from the date of the accident.

11. Is it safe to buy a PNB MetLife policy online?

Yes, buying a PNB MetLife policy online is completely safe and the process of buying the PNB MetLife plans is less time-consuming, simple.

12. What is the cancellation process for PNB MetLife plans?

To cancel your policy, You need to fill out a policy surrender form and submit it with your original policy documents to the nearest branch of PNB MetLife insurance company. The insurance company will start the policy cancellation process once they receive all of the required documentation as well as the cancellation fees.

13. How I can pay the premium of PNB MetLife Insurance plans? What are the payment modes offered by the PNB MetLife Insurance company?

PNB MetLife Insurance company offers the following payment mode for paying the policy premium: Online Mode Netbanking Debit Card Credit Card Electronic Clearing System (ECS) Offline Mode Cash/Cheque at the nearest branch of the company

14. What are the different types of plans offered by PNB MetLife India Life Insurance?

PNB MetLife Life Insurance offers a wide range of insurance plans such as Term Insurance plans, Savings plans, Child Protection Plans, and Retirement Plans.

15. What is ’Individual Coverage’ for PNB MetLife Complete Care Plus plan?

The PNB MetLife Complete Care Plus plan allows an employee to convert this policy into an Individual Coverage plan after leaving the organisation.

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Himanshu Kumar

Written By: Himanshu Kumar

Himanshu is a seasoned content writer specializing in keeping readers engaged with the insurance industry, term and life insurance developments, etc. With an experience of 2 years in insurance and HR tech, Himanshu simplifies the insurance information and it is completely visible in his content pieces. He believes in making the content understandable to any common man.

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