PNB Metlife Group Term Life Plus
PNB Metlife Group Term Life Plus is a group term life insurance policy offered by PNB MetLife. Through this, the benefit of term policy can be provided to a group. It is very beneficial for such employers who want to provide the benefit of term life insurance to their employees.
In case of accidental death of an employee covered under PNB MetLife Group Term Life Plus Plan, death benefit is provided to the nominee of the employee. Thus, PNB MetLife Group Term Life Plus provides financial assistance to the family members of the employee in his absence.
Features Of PNB MetLife Group Term
Following are the features of PNB Metlife Group Term Life Plus :
- This term plan is issued for the group. Through this, the company can provide the benefit of term insurance policy to its employees.
- PNB MetLife Group Term Life Plus Plan offers the benefits of a term insurance policy to the employees for 1 year. Employers can renew it every year.
- In case of death of the employee covered through this term insurance plan, the benefit of sum assured is provided to the nominee by the employee.
- No survival/maturity benefit is provided in this term insurance plan.
- Monthly, quarterly, half-yearly premium payment options are available for this term plan.
- In this, you also get options like free look period and grace period.
- Tax benefits are also provided in this term plan as per Indian laws.
PNB MetLife Group Term Life Plus Benefits
Following are the benefits of PNB Metlife Group Term Life Plus Plan :
- Death Benefits:
PNB MetLife Group Term Life Plus Term Plan provides death benefit of up to 100% of the Sum Assured to the nominee of the employee in case of accidental death of the employee covered under PNB MetLife Group Term Life Plus Term Plan.
- Financial Protection:
PNB MetLife Group Life Plus provides financial security to the family of the employees. If the employee dies due to any untoward incident, financial security is provided to the family members of the employee with the sum assured given through this term insurance plan.
- Cost Effective:
PNB MetLife Group Term Life Plus Term Insurance Plan offers the benefits of a term policy to the employees at a very affordable rate. It is available at a much cheaper rate as compared to term policies taken individually. Thus the employee can get the benefit of term plan at the working price.
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- Tax Benefit:
Tax benefits are provided in this plan as per Indian tax laws. Through this, employers can apply for tax benefits and save tax for their company.
- Maturity Benefits:
PNB MetLife Group Term Life Plus is a term insurance plan. In this, you are not given any kind of maturity benefit. If the employee survives the policy term then no benefit is provided to him.
Eligibility for PNB Metlife Group Term Life Plus is as follows-
| Boundary Conditions | Eligibility Criteria |
| Entry Age (in completed years) | Min : 18 years (EE) 15 years (Non EE) |
| Maximum Entry Age | Employer Employee (EE) : 80 years Non Employer Employee (Non EE) : 60 years |
| Maximum Maturity Age | EE : 81 years Non EE : 61 years |
| Coverage Term | Year renewable Term – one year |
| Sum Assured (Min) | Rs 1000 per life |
| Sum Assured (Max) | As defined in the rules of the group insurance scheme under administration or as defined by the employer for employer- employee group and Master Policyholder for non-employer-employee group. |
| Premium Payment Term | Regular |
| Premium Payment Modes | Annual, Semi-Annual, Quarterly, Monthly |
PNB MetLife Group Term Life Plus Premium
PNB MetLife Group Term Life Plus Plan is available for 1 year and can be renewed every year by the employer. Various premium payment options are provided to the employer for this plan.
Employers can choose the following premium payment frequency as per their convenience-
- Annual,
- Semi-Annual,
- Quarterly,
- Monthly .
How To Buy PNB MetLife Group Term Life Plus?
Buying a PNB MetLife Group Term Life Plus Term Plan is easy. If you want to buy this plan then you can buy it easily. For this you have to visit the official website of PNB MetLife and you can buy it there.
If you want to buy it offline, then you can also buy this term plan by visiting your nearest PNB bank branch.