PNB Metlife Term Insurance
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  • Pan India presence
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PNB Metlife Term Insurance Plan: Overview

PNB Metlife is a joint venture between Punjab National Bank India and Metropolitan Life Insurance America. It started its business as a general insurance provider in 2001 and has 15,000+ branches and offices in India after partnering with several banks and entities. It offers several term plans, such as term plans, child insurance, endowment plans, level term insurance, and guaranteed plans.

PNB Metlife provides comprehensive term insurance plans that help your family get financial support after your demise. These plans come with a range of benefits and ensure to offer financial protection to your family including: 

What are some of the
Benefits
that set them apart?

  • Wide range of plan options,

  • Affordable premiums,

  • Rider options to enhance coverage,

  • Choice of policy tenure,

  • Choose your sum assured,

  • Tax Benefits as per applicable laws,

  • Choose your payout options,

  • Get additional protection with add-on riders, etc.

 

  1. Solvency Ratio
    1.9
  2. Claim Settlement Ratio
    99.06
  3. Annual Premium
    8,785.81 Cr
  4. Branches
    15000+

PNB Metlife Term Insurance Plans

PNB Metlife Term Insurance offers you multiple term insurance plans based on the features, benefits, and eligibility criteria. Here are some of the term plans offered by PNB Metlife Term Insurance.

Plan Entry Age Tenure Min. Sum Assured Unique Features
PNB Metlife Saral Jeevan Bima Plan Minimum Age - 18 years Maximum Age - 65 years Annual, Semi-Annual, and Monthly ₹50K
  • Choice of the policy term
  • Choice of premium payment term options
  • Protection for your family
PNB Metlife Aajeevan Suraksha Plan Minimum Age - 18 years Maximum Age - 45 years Yearly, half-yearly & monthly Rs. 25 Lakhs
  • Joint life cover
  • Return of premiums for women
  • Flexibility to pay premiums
PNB Mera Jeevan Suraksha Plan Minimum Age - 18 years Maximum Age - 65 years Annual, Semi-Annual, and Monthly ₹25L
  • Comprehensive cover
  • Choose your sum assured amount
  • Joint Life Cover
PNB Metlife Family Income Protector Plus Plan Minimum Age - 25 years Maximum Age - 60 years Annual, Semi-Annual, and Monthly ₹14L
  • Guaranteed monthly income
  • Return of premiums
  • Freedom to choose benefits
PNB MetLife POS Suraksha Plan Minimum Age - 18 years Maximum Age - 55 years Annual, Semi-Annual, Quarterly, and Monthly ₹50K
  • Easy enrollment process
  • Return of premiums on survival till maturity
  • Flexibility to pay premiums
PNB Metlife Mera Term Plus Plan Minimum Age - 18 years Maximum Age - 60 years Annual, Semi-Annual, and Monthly ₹25L
  • Whole life coverage
  • Child education benefit
  • Spouse coverage option

Overview of PNB Metlife Term Insurance Plans

Here is a quick overview of the PNB Metlife Term Insurance Plans listed in the above table.

PNB Metlife Saral Jeevan Bima Plan

PNB MetLife Saral Jeevan Bima Plan is a simple term plan that promises to cover your loved ones from unpredictable situations so that they never make any compromises in life.

Here are the key features of the above plan
  • Life cover starting from Rs. 5 Lakhs.
  • Stay protected for a fixed term ranging from 5 years to 40 years.
  • Multiple premium payment options.
  • Tax Saving Benefits.

Explore other PNB Metlife Term Insurance

PNB Metlife Term Insurance offers one of the best term insurance plans to cater to the unique needs of every customer. You can buy their term plans with high life cover at pocket-friendly costs. Get a 5% discount for online purchases and 100% claim assistance with PNB Metlife Term Insurance plans. Below is the list of term plans offered by PNB Metlife.

PNB Metlife Saral Jeevan Bima is a standard term insurance plan designed as per the guidelines of IRDAI. This plan is designed to provide pure protect...

Unique Features

  • Avail Family Protection
  • High Sum Assured
  • Flexible Premium Payment

PNB Metlife Saral Jeevan Bima (Pros)

PNB Metlife Saral Jeevan Bima
  • Avail Family Protection
  • High Sum Assured
  • Flexible Premium Payment

PNB Metlife Saral Jeevan Bima (Cons)

PNB Metlife Saral Jeevan Bima
  • 1 Year WP for Suicide
  • No Policy Loans
  • Death Due to Adventure Sports

PNB Metlife Saral Jeevan Bima (Other Benefits)

PNB Metlife Saral Jeevan Bima
  • Choice of the policy term
  • Choice of premium payment term options
  • Protection for your family

PNB Metlife Saral Jeevan Bima (Eligibility Criteria)

PNB Metlife Saral Jeevan Bima
  • Entry Age -18 Years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - ₹5L
  • Maximum Maturity Age - 70 years
  • Premium Payment Term - RP/SP/LP

PNB Metlife Aajeevan Suraksha Plan offers individuals a comprehensive life cover with a plethora of benefits and features embedded within the plan. Aa...

Unique Features

  • Flexible Premium Payment
  • Joint Life Cover
  • Whole Life Cover

PNB Metlife Aajeevan Suraksha (Pros)

PNB Metlife Aajeevan Suraksha
  • Flexible Premium Payment
  • Joint Life Cover
  • Whole Life Cover

PNB Metlife Aajeevan Suraksha (Cons)

PNB Metlife Aajeevan Suraksha
  • No Policy Loan Allowed
  • No Cover for Suicide
  • No Survival Benefit

PNB Metlife Aajeevan Suraksha (Other Benefits)

PNB Metlife Aajeevan Suraksha
  • Choice of Plan Options
  • Monthly Income Benefit
  • Inbuilt Cover Against Terminal Illness

PNB Metlife Aajeevan Suraksha (Eligibility Criteria)

PNB Metlife Aajeevan Suraksha
  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 99 Yrs
  • Premium Payment Term - RP/SP/LP

PNB Metlife Mera Jeevan Suraksha Plan is designed to provide quality coverage in unforeseen circumstances. The plan not only includes death coverage b...

Unique Features

  • Return of Premium Benefit
  • Waiver of Premium
  • Terminal Illness Cover

PNB Mera Jeevan Suraksha (Pros)

PNB Mera Jeevan Suraksha
  • Joint Life Cover
  • Return of Premium
  • Terminal Illness Cover

PNB Mera Jeevan Suraksha (Cons)

PNB Mera Jeevan Suraksha
  • 1 Year WP for Suicide
  • No Policy Loans
  • Death Due to Adventure Sports

PNB Mera Jeevan Suraksha (Other Benefits)

PNB Mera Jeevan Suraksha
  • High Sum Assured Rebate
  • Waiver of Premium
  • Add-on Riders

PNB Mera Jeevan Suraksha (Eligibility Criteria)

PNB Mera Jeevan Suraksha
  • Entry Age - 18 Years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - ₹25L
  • Maximum Maturity Age - 80 years
  • Premium Payment Term - RP/SP/LP

'A Term plan that gives regular monthly income after your demise' If you support your family financially through your income, then undoubtedly, the co...

Unique Features

  • Monthly Income for 20 yrs
  • Return of premium
  • Tax benefits

PNB Metlife Family Income Protector Plus (Pros)

PNB Metlife Family Income Protector Plus
  • Monthly Income for 20 yrs
  • Return of premium
  • Tax benefits

PNB Metlife Family Income Protector Plus (Cons)

PNB Metlife Family Income Protector Plus
  • 1 Year WP for Suicide
  • No Policy Loans
  • Death Due to Adventure Sports

PNB Metlife Family Income Protector Plus (Other Benefits)

PNB Metlife Family Income Protector Plus
  • Maturity benefit
  • Guaranteed monthly income
  • Freedom to choose benefits

PNB Metlife Family Income Protector Plus (Eligibility Criteria)

PNB Metlife Family Income Protector Plus
  • Entry Age -25 Years
  • Max Entry Age - 60 years
  • Minimum Sum Assured - ₹14L
  • Maximum Maturity Age - 75 years
  • Premium Payment Term - RP/SP/LP

Are you the sole earning member of your family, and feel worried about what will happen in case of an emergency? Who will take care of all expenses? S...

Unique Features

  • Guaranteed Monthly Income
  • Return of 100% premium
  • Easy Enrollment

PNB MetLife POS Suraksha (Pros)

PNB MetLife POS Suraksha
  • Guaranteed Monthly Income
  • Return of 100% premium
  • Easy Enrollment

PNB MetLife POS Suraksha (Cons)

PNB MetLife POS Suraksha
  • 1 Year WP for Suicide
  • No Policy Loans
  • Death Due to Adventure Sports

PNB MetLife POS Suraksha (Other Benefits)

PNB MetLife POS Suraksha
  • Easy enrollment process
  • Return of premiums on survival till maturity
  • Flexibility to pay premiums

PNB MetLife POS Suraksha (Eligibility Criteria)

PNB MetLife POS Suraksha
  • Entry Age -18 Years
  • Max Entry Age - 55 years
  • Minimum Sum Assured - ₹50k
  • Maximum Maturity Age - 65 years
  • Premium Payment Term - RP/LP

PNB MetLife Mera Term Plan Plus is a comprehensive pure protection plan that helps you protect your family financially upon your sudden demise. Under ...

Unique Features

  • Comprehensive coverage
  • Plan enhancement options
  • Customizable plans

PNB Metlife Mera Term Plus (Pros)

PNB Metlife Mera Term Plus
  • Spouse Coverage
  • Return of Premium
  • Life Stage Benefit

PNB Metlife Mera Term Plus (Cons)

PNB Metlife Mera Term Plus
  • 1 Year WP for Suicide
  • No Policy Loans
  • Death Due to Adventure Sports

PNB Metlife Mera Term Plus (Other Benefits)

PNB Metlife Mera Term Plus
  • Child Education Support Benefit
  • Step-up Benefit
  • Whole Life Cover

PNB Metlife Mera Term Plus (Eligibility Criteria)

PNB Metlife Mera Term Plus
  • Entry Age -18 Years
  • Max Entry Age - 60 years
  • Minimum Sum Assured - ₹25L
  • Maximum Maturity Age - 99 years
  • Premium Payment Term - RP/SP/LP

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PNB Metlife Term Insurance Plans

PNB Metlife Term Insurance Plans

Riders You Can Avail With PNB Metlife Term Insurance Plans

Name of the Riders Benefits
PNB MetLife Critical Illness Rider The rider plan provides payment of an additional amount on the diagnosis of 10 critical conditions. This plan acts as an additional health cover under the base policy, where rider term and sum assured options are available to provide coverage as per your needs.
PNB MetLife Accidental Death Benefit Rider This rider offers payment of an additional amount should death occur as a result of an accident by outward violent and visible means.
PNB Metlife Terminal Illness Rider This rider offers additional benefits in case the policyholder is diagnosed with any of the terminal illnesses mentioned in the brochure.
PNB Metlife Waiver of Premium Rider This rider ensures that future due premiums are waived off in case of total and permanent disability of the life assured. The benefit can be purchased by paying a nominal extra premium over and above the base premium.

Benefits of PNB Metlife Term Insurance

PNB Metlife Term Insurance is one of the most trustworthy and reliable insurer partners you can choose from. Here are the reasons why you should choose PNB Metlife Term Insurance Plans:

Maternity Benefit Rider

Get 50 critical
illnesses covered

PNB MetLife term insurance provides an additional sum assured for listed 50 critical illnesses if the policyholder is diagnosed with any of one them during the policy term.

Maternity Benefit Rider

Stay Protected Until
99 Years of Age

PNB Metlife term insurance plans offer you protection till 99 years of age.

Maternity Benefit Rider

Choose your
payout option

PNB Metlife term plans offer you the option to choose your payout option either as monthly income or lump sum.

Maternity Benefit Rider

Affordable premiums

PNB Metlife term plans are available at affordable premiums so that a large section of people can get them to secure their family’s financial future.

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

Additional Benefits Offered By PNB Metlife Term Plans

PNB Metlife Term Insurance Plans offer various additional benefits to the policyholders.

Spouse Coverage

PNB Metlife Mera Term Plan Plus offers you the option to cover you and your spouse under a single policy, thereby saving additional premium costs.

Inbuilt Terminal Illness Cover

PNB MetLife- Ajeevan Suraksha Plan offers inbuilt terminal illness cover with the base plan.

Life Cover Starting From Rs. 5 Lakhs

PNB Metlife Saral Jeevan Bima offers you life cover starting from Rs 5 lakhs so that you can choose it as per your financial requirements.

Multiple Plan Options to Choose From

PNB MetLife- Ajeevan Suraksha Plan offers you four plan options to choose from as per your requirements.

Income for Your Family

PNB MetLife Income Protection Plan offers income for your family in case of your unfortunate demise so that they can live a comfortable life.

Types of PNB Metlife Term Plans

There are various PNB Metlife-term plans based on their features, policy tenure, benefits, etc. You can choose the one that best suits your requirements.

Basic Term Plan

Plan Name: PNB MetLife Saral Jeevan Bima

These plans only provide a sum assured to the nominee in case of the death of the policyholder. No survival benefits are included.

Term Plan with Return of Premium

Plan Name: PNB MetLife Mera Term Plan Plus

These plans give the premium amount back to the policyholders only if they survive the policy term.

Term Insurance with Monthly Income

Plan Name: PNB MetLife Mera Jeevan Suraksha Plan

These plans offer monthly income to the policyholder’s dependents in case of the policyholder’s demise.

Term Insurance with Critical Illness

Plan Name: PNB MetLife Mera Mediclaim Plan

These plans offer inbuilt coverage against critical illnesses.

Term insurance with Accidental Disability & Death Cover

Plan Name: PNB MetLife Mera Term Plan Plus

These plans offer inbuilt coverage against accident disability and death cover.

Documents Required to Buy PNB Metlife Term Insurance Policy

Here are the documents required to buy a PNB Metlife Term Insurance Plan:

Photo ID Proof

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

How to Buy a PNB Metlife Term Insurance Plan?

You can buy the PNB Metlife Term Insurance policy from Policyx.com or the PNB Metlife Term Insurance website.

Life Insurance
  • Step 1

    Fill out the form 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 pay.

Life Insurance
  • Step 1

    Visit the official website of PNB Metlife Insurance.

  • Step 2

    Click on the ‘Buy Now’ option available under the plan.

  • Step 3

    Provide your details including name, gender, education, income, contact details, etc.

  • Step 4

    Fill in your policy tenure, premium payment tenure, and sum assured.

  • Step 5

    Pay the premiums displayed on the payment screen.

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 a PNB Metlife Term Insurance Plan Claim

The claim settlement process for PNB Metlife Term Plans is simple and hassle-free. The insurance provider gives you the option of settling a claim both online and offline. We have explained the process by which you can easily submit & settle your claim below:

Online Process

Your Occupation
1

Claim Registration

Report your PNB Metlife Term plan claim by hovering over the ‘Our Services Section’ and choosing the ‘File a Claim Option’.

Your Occupation
2

Claim Review

PNB Metlife’s customer support staff will review your claim form and will assist you at every step. Their staff will next evaluate your claim and notify you if any papers are still pending.

Your Occupation
3

Claim Settlement

Your claim will be resolved once you have informed the insurance of your claim and the insurer has received all of the necessary documents.

Offline Process

The PNB Metlife term plan claim settlement procedure can be reported by visiting the local PNB Metlife Branch Office. For the details of PNB Metlife Insurance branches, 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
Life Insurance

More Queries?

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

PNB Metlife Term Insurance Plans: FAQs

1. Are PNB MetLife’s term plans good?

PNB MetLife term insurance plan is among the best term insurance plans that offer you an extra set of perks in exchange for nominal premiums.

2. What is the PNB MetLife claim ratio?

PNB MetLife’s Claim Settlement Ratio is 99.06% in individual life insurance policies for the financial year of 2022-23.

3. What is the age limit for the PNB MetLife term plan?

The maximum maturity age limit for the PNB MetLife term plan is 99 years for all options except the Life Plus & ROP Option.

4. Can I surrender my PNB MetLife policy after one year?

Yes, you can surrender your PNB MetLife policy under a free-look period.

5. How many term plans are offered by PNB Metlife?

PNB Metlife offers eight-term plans and you can choose the one that best suits your needs.

6. Does PNB Metlife Term Insurance Provide Tax Benefits?

Yes, PNB Metlife Insurance provides tax benefits under Section 80C, though taxpayers can get rebates up to 1.5 lakhs.

7. Did PNB Metlife Insurance Provide a Grace Period?

Yes, PNB Metlife Insurance Provides a Grace Period as well, they have a 30-day grace period for quarterly, half-yearly, and Yearly Premiums paying terms and 15 days for monthly premiums paying terms.

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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.