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PNB Metlife has launched the PNB MetLife Loan and Life Suraksha Plan, offering life insurance along with protection for your mortgage, educational, personal, and auto loans. The policy comes in 3 types of coverage options, namely the Reducing cover option, the Level cover option, and the Increase of sum assured due to an increase in loan.
The policy allows including 2 people for education, mortgage & other housing loans in the same plan. Whereas, for group insurance maximum 50 people are allowed. The policy also comes with a joint life option where the death benefit is given to the surviving policyholder in case of death of the first life and the policy terminates.
PNB Metlife Loan & Life Suraksha Plan offers you a range of benefits including:
Minimum Age - 15 years Maximum Age - 65 years
Maximum Maturity Age - NA
Minimum term - 2 years, Maximum term - 25 years
Base sum assured: 5 Thousand to no limit
The policy loan is available under PNB MetLife Loan and Life Suraksha Plan
Half-yearly, Quarterly, Yearly, Monthly
Here are the benefits associated with the PNB MetLife Loan and Life Suraksha Plan
Upon the death of the life insured during the policy term, PNBMetlife PNB Metlife Loan & Life Suraksha offers a policy sum assured to the group members.
This plan offers no surrender value on a pure protection plan. However, for the single and limited pay premium payment modes, the surrender benefits will be paid.
You will get a dual coverage option of reducing cover option and Level Cover Option.
You can choose a higher sum assured that matches your loan amount.
A moratorium period is when you are not required to repay the loan amount for a certain period. The loan lender sets the moratorium period and PNB Metlife will prepare the loan schedule accordingly.
Under this feature, you can cover your spouse, child, parent, and siblings.
Here is the list of exclusions associated with the plan:
PNB Metlife Loan & Life Suraksha offers a wide range of coverage from loan benefits to life cover. It offers life coverage at affordable premiums along with tax benefits as per the law. If you are still confused about which term plan is best for you then you can contact us at PolicyX.com. One of our insurance representatives will contact you shortly, understand your requirements, and choose a plan that suits your needs.
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The minimum purchase time for the PNB Metlife Loan & Life Suraksha term plan is 15 years.
Yes, an education loan is available under this plan.
Maximum 50 people can be covered under PNB MetLife Loan & Life Suraksha term plan.
Yes, joint life is covered under this plan.
You get multiple premium payment modes such as monthly, half-yearly, yearly and quarterly under this plan.
You can get a 30 days of grace period for both offline and online purchases.
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February 5, 2023
Asia/Kolkata
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