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PNB Metlife Insurance

PNB MetLife Mera Term Plan

Invest in PNB MetLife Mera Term Plan and Save Tax*

Product Benefits

  1. Protection till age 99 : Extended life coverage till 99 years*
  2. Critical illness rider (Heart Attack & Cancer): Reduce the financial burden in case of critical illnesses when you need it the most. Get additional protection against 16 heart conditions with the choice of lump sum or income benefit. In case of being diagnosed with cancer get lump sum or income benefit.
  3. Flexibility to Increase your cover on important life event: As you progress through the various stages of life your responsibilities increase & so do your life cover requirements. Under Life stage protection option, you get the option to buy additional Life cover according to your current age, no medical examination is required.
  4. Tax\* Benefit: You are eligible for tax benefits under section 80C of the Income Tax Act, 1961 on your annual premium. 
  5. Spouse Cover: In the same policy you can cover your partner too. Under this benefit option, the life cover for your partner continues even in your absence. Option is only available if Sum Assured is greater than Rs 50 Lacs & your partner coverage is limited to 50% of your Sum Assured with a maximum limit of Rs 50 Lacs. In case of partner being a home maker maximum Rs 25 lac cover can be provided.
  6. Payment Option for your Family Benefit: Get the flexibility to choose from four payout option.
  7. Accidental Death Benefit rider: Accidental Death Benefit rider covers the life insured against accidental deaths. 100% of the Rider Cover amount (Sum assured) shall be paid in case of death due to accident.
  8. Accidental Disability rider: In case of disability due to an accident during the policy term, 100% of the cover amount under the rider will be paid.

 

Eligibility:

Minimum Age

18 Years

Maximum Age

65 Years

Maturity Age

#99 years for all options
(except Joint Life cover option)
Joint Life Cover option: 75 years
(applicable for both Primary & Secondary life)

Minimum Sum Assured

₹ 10,00,000

Coverage Period

81 years for all options
(except Joint Life Cover option) &
10 years to 40 years for Joint Life Cover option
(applicable for both Primary & Secondary life), subject to maximum maturity age. 81 years for all options
(except Joint Life Cover option) &
10 years to 40 years for Joint Life Cover option
(applicable for both Primary & Secondary life), subject to maximum maturity age.

Premium Payment Term

Regular pay, 10 pay

 

Pay-out options for your family benefits:

Lump Sum payment on death

Protection Cover

₹ 1 Crore

Premium

 ₹ 683/- per month

Your family will receive lump sum pay-out of ₹1 crore

 

Lump Sum Payout + Regular Monthly Income for 10 years

Protection Cover

₹ 1 Crore

Premium

 ₹ 607/- per month

Your family will receive lump sum payout of ₹41.8 lac + total ₹58.2 lac as monthly income for 120 months (₹48,495/- per month)

 

Lump Sum Payout + Increasing Monthly Income for 10 years

Protection Cover

₹ 1 Crore

Premium

 ₹ 596/- per month

Your family will receive lump sum payout of ₹41 lac + total ₹59 lac as monthly income for 120 months (starting from ₹31,948/- per month increasing at 12%)

 

Lump Sum Payout + Regular Monthly Income till the child turns 21 years

Protection Cover

₹ 1 Crore

Premium

 ₹ 567/- per month

Your family will receive lump sum payout of ₹39 lac + total ₹61 lac as monthly income for child till age 21 years. (₹34,056/- per month)

 

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