PNB Metlife Mera Term Plan
PNB MetLife Mera Term Plan is a term insurance plan offered by PNB MetLife. It offers you comprehensive life coverage at very affordable rates.
You can get this term insurance plan either for your whole life (coverage till the age of 99 years) or you can choose the coverage period as per your convenience.
PNB MetLife Mera Term Plan plan serves to provide you with a safety net against death, critical illness, disability and terminal illness. You can customize your term insurance coverage as per your convenience with additional options available in this plan.
With PNB MetLife Mera Time Plan Plus, you also get two additional options like Return of Premium and Spouse Coverage. Similarly, in this plan you also get three cover enhancement options like Step Up Benefit, Life Stage Benefit and Child Education Support Benefit. You can choose any of these as per your requirement.
Features Of PNB MetLife Mera Term Insurance Plan
PNB Metlife Mera Term Insurance Plan Features include:
- Plan Options:
PNB MetLife Mera Term Plan gives you multiple options. You get options like Life, Life Plus and Life Plus Health in your term plan. You can add these to your term plan as per your requirement.
- Premium Payment Method:
The mode of premium payment in PNB MetLife Mera Term Plan has been made very convenient. You can conveniently make your premium payment online from the comfort of your home, anywhere using your credit card, debit card or other payment modes. In this you do not have to do any kind of paperwork.
- Premium Payment Frequency:
PNB MetLife Mera Term Plan gives you multiple options in premium payment frequency as well. You can choose to pay the premium in lump sum, yearly, half-yearly or monthly as per your convenience.
- Coverage Period:
PNB MetLife Mera Term Plan offers you a longer coverage period. Under this, you can get coverage till the age of 99 years. Even if the policyholder pays premiums for a limited period, he is still provided coverage till the age of 99 years.
- Basic Sum Assured:
The minimum sum assured under PNB MetLife Mera Term Plan is Rs. 25 lakh and there is no cap on the maximum sum assured. Therefore, you can get a minimum sum assured of up to Rs 25 lakh under this term plan.
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Benefits Of PNB MetLife Mera Term Insurance Plan
The detailed explanation of the benefits offered under PNB Metlife Mera Term Insurance Plan are as follows:
- Death Benefit:
PNB MetLife Mera Term Plan offers death benefit to the policyholder. If the policyholder dies during the policy term, the death benefit is paid to the nominee by the policyholder. This death benefit can be in lump sum or in installments. This can be opted by the policyholder at the time of taking the term insurance plan.
- Terminal Illness Benefit:
You can also avail terminal illness benefit under PNB MetLife Mera Term Plan. In this, if the policyholder has any terminal illness, then it is covered under this term plan. The expenses for the treatment of the disease are paid to the policyholder.
- Premium Waiver:
Under this term plan, the policyholder can also avail the benefit of premium waiver. Waiver of premiums if the policyholder suffers an accident resulting in accidental total and permanent disability or is diagnosed with any one of the 50 covered critical illnesses and is unable to pay his premiums goes.
- Critical Illness Benefit:
This is available with the Life Plus Health option of PNB MetLife Term Plan. If the policyholder requires treatment for a critical illness during the policy term, he is paid 25% of the sum assured (maximum Rs. 50 lakhs) to meet the expenses incurred on his treatment.
- Maturity Benefit:
One can also opt for Maturity Benefit with PNB MetLife Mera Term Plan. However, for this you have to choose the ‘Return of Premium’ option under the policy. Only then you can take advantage of it. It is worth noting that you have to pay some additional premium to get the benefit of maturity benefit only then you can avail it.
- Return of Premium: You can also choose the option of return of premium in this plan. If the policyholder survives the term of the policy, he is paid back a premium equal to the sum assured.
- Spouse Coverage:
You can avail the benefit of spouse coverage in this term plan. You can choose this at the time of taking the policy. For this you have to pay additional premium.
- Step-up Benefits:
This is a kind of enhancement option. You can choose this at the time of buying the policy. Under this, you get a step-up Sum Assured on every policy anniversary for the next 10 years.
- Life Stage Benefit:
This term insurance policy also provides you life stage benefits. Under this, you can increase your sum assured on the occasion of different stages of your life like marriage, birth of first child, birth of second child etc.
- Child Education Assistance Benefits:
Child Education Assistance Benefit is an enhancement benefit under which the policyholder can enhance his/her Sum Assured to provide for the cost of education of a child. For this you have to pay additional premium.
- Income Tax Benefits:
You can also avail tax benefits as per income tax laws (deduction of Rs.1,50,000 is allowed from taxable income every year under section 80C) on the premiums paid in this term insurance.
- Free Look Period:
If the policyholder is not satisfied with the terms and conditions of the policy, he has the option to cancel the policy within 15 days from the date of receipt of the policy document.
PNB MetLife Mera Term Plan Riders
You are also provided with the option of adding riders in PNB MetLife Mera Term Plan. Riders are a type of additional benefit that you can add to your term insurance plan to get more coverage. You have to pay some additional premium for adding riders but this increases your term insurance coverage.
There are four types of riders provided by PNB MetLife Mera Term Plan. You can add any of these riders to your term plan as per your requirement.
- PNB MetLife Accidental Death Benefit Plus Rider:
Under this rider of PNB MetLife Mera Term Plan, in case of accidental death of the policyholder, the accidental death benefit sum assured is paid to the nominee of the policyholder.
- PNB MetLife Critical Illness Rider:
Under the critical illness rider of PNB MetLife Mera Term Plan, the critical illness benefit is paid to the policyholder on the first treatment of 10 covered critical illnesses to meet his treatment expenses.
- PNB MetLife Accidental Disability Benefit:
Under this rider of PNB MetLife Mera Term Plan, if the policyholder becomes disabled due to an accident, he is provided with the benefit of Accidental Disability Benefit.
- PNB MetLife Critical Illness Benefit:
Critical Illness Rider of PNB MetLife Term Plan policyholder is provided with the benefit of critical illness benefit on the first diagnosis of two critical illnesses such as cancer or heart attack.
PNB MetLife Mera Term Insurance Plan Eligibility
PNB Metlife Mera Term Insurance Plan Eligibility is as follows-
- The minimum age for purchasing this term plan should be 18 years and the maximum age should be 60 years.
- You will also have to undergo a medical test.
- You must have identity proof, address proof, and income proof.
Documents Required For PNB Metlife Mera Term Insurance Plan
To buy PNB MetLife Mera Term Insurance Plan you need to have some essential documents with you. Below we have mentioned the necessary documents-
- Identity proof (any one of the following):
Voter ID Card,
- Address Proof (Any one of the following):
official bank statement,
- Age proof (any one of the following):
High school mark sheet.
- I Ratio:
Salary Slip (last 3 months),
Bank statement (last 6 months),
ITR (last 2-3 years)
- Medical Documents:
Latest passport size color photograph.
PNB MetLife Mera Term Insurance Plan Premium
PNB MetLife Mera Term Insurance Plan offers you multiple premium payment options. You can choose any premium payment frequency as per your convenience. You can make premium payments for your PNB MetLife Mera Term Insurance Plan on a lump sum, yearly, half-yearly, quarterly or monthly basis.
The amount of premium to be paid under PNB MetLife Mera Term Insurance Plan depends on your term insurance coverage. The more coverage you take, the higher the premium you have to pay.
Also, if you add additional riders, then your premium increases. Adding a rider is not mandatory. You can add or not add it as per your requirement.
How To Buy PNB MetLife Mera Term Insurance Plan
Buying PNB MetLife Mera Term Insurance Plan is very easy. You can easily buy it online from the comfort of your home. For this you have to visit the official website of PNB MetLife.
By accessing the official website of PNB MetLife, you need to go to Term Insurance Plans and click on the option to buy PNB MetLife Mera Term Insurance Plan. After this you will be asked for some of your necessary information which you will have to provide.