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  • PNB Metlife India Insurance

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    Plan Benefits

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    Punjab National Bank is a well known nationalised bank in India and MetLife is a global brand when it comes to insurance products. PNB provides exclusive MetLife insurance plans to give us the benefit of the MetLife brand as well as their age-old trust. It does not end here, since Jammu and Kashmir Bank is also a part of this venture, in terms of being a shareholder. Being such a well known contender in the industry PNB MetLife Insurance was launched in India in 2001.

    This insurance company has grown very quickly and currently provides protection to people across a whopping 7,000 locations in the country. At the moment they have an agency sales team of over 10,000 financial advisors, to provide over 1,200 corporate companies with Employee Benefit plans as well. Being one of the leading insurance providers in India, this company has been reporting profits for the last 5 years, as of mid 2016.


    Key Highlights of PNB MetLife Insurance

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    PNB MetLife Insurance 1 Cr Life cover plan

    1 Crore Life Cover

    Get 1 Cr Life cover @₹ 14*/day

    Claim-settlement ratio for PNB MetLife Insurance

    Claim Settlement Ratio

    Claim-settlement ratio of 91.00% for year 2015-2016

    Occupation eligibility for PNB MetLife Insurance

    Grievances Resolved

    99.55% Grievances Settled for year 2015-2016


    To be eligible for PNB MetLife Insurance

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    Minimum age for PNB MetLife Insurance

    You should be at least 18 years old

    Maximum age for PNB MetLife Insurance

    You should be less than 65 years old

    Occupation eligibility for PNB MetLife Insurance

    You should be either Salaried, Self- employed, a professional or have your own business


    PNB MetLife Insurance at a Glance

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    Maximum tenure of PNB MetLife Insurance

    A maximum tenure of 40 years

    Maximum sum assured for PNB MetLife Insurance

    Min Sum Assured: Rs 10 Lakh
    Max Sum Assured: Rs 50 Crore

    Exclusions for PNB MetLife Insurance

    Specific exclusions: Suicide within the first 12 months


    Documentation needed to apply for an PNB MetLife Insurance

    • 1. Identity Proof
    • 2. Age Proof
    • 3. Income Proof
    • 4. Address Proof
    • 5. PAN Number

    Why Choose PNB MetLife Insurance?

    PNB and MetLife have been in the business together for the last 15 years and do not seem to be slowing down in the industry with so much growth and potential. However, that may not be a sufficient reason for an ordinary human to want to opt for their insurance products. Here are some reasons more well-defined than simply what you already know:

    1. Brand Value: One of the most important things with the companies involved in this insurance providing group is the fact that the trust that all the 3 companies have from their customers, prior to entering the insurance market has always been very strong and is worth considering essential.
    2. Profit Making Organization: The company has reported continuous profits for the last 5 years, and considering their volumes and claims being made it is essential to understand that this organization is today, well established to handle your investments, through participating or linked insurance products alike.
    3. Flexibility and Diversity of Products: All the products have highly flexible salient features, such as policy terms or sum assurance amounts. But that is not all, there are products that are already bespoke to the needs of an ordinary man to a multi-billion dollar organization with group insurance requirements. From minimal insurance requirements through micro-insurance products to retirement plans, PNB MetLife have something for everyone.
    4. High Claim Settlement Ratio: It is essential that a company provides the finances required when the actual claim is made. This statistic breaks or makes an insurance company and PNB MetLife is not exception. Currently, they are running with a 95% ratio but they have been over 90% consistently for the years earlier.
    5. Quality of Services: An international brand involvement somehow guarantees excellent services. MetLife is however, more than just a regular insurance company. In fact, it is considered as being in the big leagues.

    Types of Insurance Available from PNB MetLife:

    PNB MetLife Protection Plans:

    Plan Type Sum assured Coverage Term
    MetLife Mera Term Plan Starting from Rs.10 lakhs Upto 75 years
    MetLife Family Income Protector Plus Upto Rs.1.42 crores Upto 75 years

    MetLife Mera Term Plan: This is one of the most sought out protection plans, when you are starting off a family with cover for your spouse as well. The children also receive protection and the sum assured increases when you welcome more members in the family. You wife’s premiums for her cover are waived off, if you opt for a plan that has a sum assured amount of Rs.50 lakhs and over. This plans has 4 payout options and is indeed very customizable to suit the needs of your family as it grows.

    PNB MetLife Savings Plans:

    Plan Type Sum assured Policy Term
    MetLife Money Back Plan Rs. 2.5 lakhs to Rs.5 crores 10 years
    MetLife Bachat Yojana Chosen annual premium x multiplier factor (based on age) N.A.
    MetLife Guaranteed Savings Plan Annualized Premium X Multiple of Annual Premium (10x or 7x, depending on age at entry) N.A.
    MetLife Guaranteed Income Plan Annualized Premium X Multiple of Annual Premium (10x or 7x, depending on age at entry) Up to 20 years
    MetLife Bhavishya Plus Rs. 92,320 to Rs.5 lakhs 12 to 24 years
    MetLife Endowment Savings Plan Rs.1.64 lakhs to Rs.5 crores Upto 30 years

    MetLife Money Back Plan: If you are looking for an endowment plan that is non-linked but has a comfortably short policy term, with options of sum assured amount of upto Rs. 5 crores but starting from an amount as humble as Rs. 2.5 crores, you might want to give it a consideration.

    MetLife Bachat Yojana: This is a simple savings plan with live insurance cover with several bonuses to benefit from, including accrued simple reversionary bonus as well as terminal bonus. It also has the convenience of a free look period and the liquidity convenience of loan against insurance facility.

    MetLife Guaranteed Savings Plan: Besides providing the regular death and maturity benefits this insurance plan comes with the additional benefit of accrued bonuses through cumulative premium payments. This non linked and non-participating insurance plan helps most, to be able to serve both short and long term financial requirements for goals and at the same time helps provide adequate life cover.

    MetLife Guaranteed Income Plan: This savings plans not only has guaranteed death and maturity benefits, but also comes with the guaranteed benefit of income. The plan basically helps to create a route for second income for your family and their needs. With this stable income, at regular income, you can assure that your child’s education is taken care of when required.

    MetLife Bhavishya Plus: This plan comes with the flexibility of choosing a policy term that is between 12 years to 24 years. Also this plan comes with reversionary as well as terminal bonuses. In the end of each policy year the 20% of the total sum assured will be receivable which makes for a stable income.

    MetLife Endowment Savings Plan: This savings endowment plan comes with flexibility in policy term, sum assured amount and premium payment option which means it can be paid in 5 installments or through out the policy terms.

    PNB MetLife Rural Plans:

    Plan Type Sum assured Policy Term
    MetLife Gramin Ashraya Rs. 5000 to Rs. 50,000 5 years
    MetLife Bhavishya Plus Rs. 92, 320 to Rs. 5 lakhs 12 to 24 years
    MetLife Bachat Yojana Chosen annual premium x multiplier factor (based on age) N.A.

    MetLife Gramin Ashraya: For people living in rural India, insurance policies can be often treated as a luxury, where in fact it should be a necessity considering the number of dependants on one individual in rural families. This is a simple and convenient micro-insurance product with affordability and a s simplified process.

    MetLife Bhavishya Plus: This plan comes with the flexibility of choosing a policy term that is between 12 years to 24 years. Also this plan comes with reversionary as well as terminal bonuses. In the end of each policy year the 20% of the total sum assured will be receivable which makes for a stable income.

    MetLife Bachat Yojana: This is a simple savings plan with live insurance cover with several bonuses to benefit from, including accrued simple reversionary bonus as well as terminal bonus. It also has the convenience of a free look period and the liquidity convenience of loan against insurance facility.

    PNB MetLife Child Plans:

    Plan Type Sum assured Policy Term
    MetLife Money Back Plan Rs. 2.5 lakhs to Rs. 5 crores Rs. 10 years
    MetLife Smart Platinum Chosen annual premium x multiplier factor (based on age) Flexible
    MetLife Easy Super 10 x Chosen annualised premium 15 or 20 years
    MetLife College Plan Rs. 2.12 lakhs to Rs. 5 crores 12 to 24 years
    MetLife Bhavishya Plus Rs. 92, 320 to Rs. 5 lakhs 12 to 24 years
    MetLife Smart Child 10 x Chosen annualised premium 10, 15 or 20 years

    MetLife Money Back Plan: If you are looking for an endowment plan that is non-linked but has a comfortably short policy term, with options of sum assured amount of upto Rs. 5 crores but starting from an amount as humble as Rs. 2.5 crores, you might want to give it a consideration.

    MetLife Smart Platinum: This is a unit-linked plan that is designed with the intention of ensuring that the whole family is taken care of and every aspect of the policyholder and his or her family’s life is covered, especially the children.

    MetLife Easy Super: This is a unit-linked plan that covers the interests and requirements of your family especially your child/children through unit-link. There are 6 unit-linked funds to choose from, but more importantly this plan allows the policyholder to make partial withdrawals when an emergency situation requires it.

    MetLife College Plan: As the name suggests, this plan is to ensure that your child’s higher education after school is taken care of regardless of what may come. The plan is a participating but non-linked endowment plan which ensures that a source of regular income is available with or without the policy holder’s presence, for his or child.

    MetLife Bhavishya Plus: This plan comes with the flexibility of choosing a policy term that is between 12 years to 24 years. Also this plan comes with reversionary as well as terminal bonuses. In the end of each policy year the 20% of the total sum assured will be receivable which makes for a stable income.

    MetLife Smart Child: This is a life insurance policy intended to take care not only the best interests of your family and you but also ensure that you are able to afford the best education possible, for your child or children. This is a unit-linked plan where the init allocation can be done with ease.

    PNB MetLife Wealth Plans:

    Plan Type Sum assured Policy Term
    MetLife Mera Wealth Plan Flexible Upto 30 years
    MetLife Smart Platinum Chosen annual premium x multiplier factor (based on age) Flexible
    MetLife Easy Super 10 x Chosen annualised premium 15 or 20 years
    MetLife Smart One Flexible but based on premium chosen Upto 20 years

    MetLife Mera Wealth Plan: When you want to ensure that your savings are not being wasted but being invested well with good returns and at the same time you investment portfolio is able to your financial goals to certain extent, this plan might be the right strategy. It also comes with life cover and loyalty additions at the same time.

    MetLife Smart Platinum: This is a unit-linked plan that is designed with the intention of ensuring that the whole family is taken care of and every aspect of the policyholder and his or her family’s life is covered, especially the children.

    MetLife Easy Super: This is a unit-linked plan that covers the interests and requirements of your family especially your child/children through unit-links. There are 6 unit-linked funds to choose from, but more importantly this plan allows the policyholder to make partial withdrawals when an emergency situation requires it.

    MetLife Smart One: This unit-linked plan for not just savings but to create a second source of income for the individual is a good strategy to create wealth. It has flexibility in fund management, which can be either done by the policyholder or automated.

    PNB MetLife Retirement Plans:

    Plan Type Sum assured Policy Term
    MetLife Mera Wealth Plan Flexible Upto 30 years
    MetLife Smart Platinum Chosen annual premium x multiplier factor (based on age) Flexible
    MetLife Easy Super 10 x Chosen annualised premium 15 or 20 years
    MetLife Money Back Plan Rs. 2.5 lakhs to Rs. 5 crores Rs. 10 years
    MetLife Bachat Yojana Chosen annual premium x multiplier factor (based on age) N.A.
    MetLife Monthly Income Plan - 10 Pay 11 x Annualized income 10 years
    MetLife Immediate Annuity Plan Annuity plan Lifetime
    MetLife Retirement Savings Plan As per PNB MetLife’s Board underwriting Policy Single Premium: 20 years Others: 30 years
    MetLife Dhan Samriddhi Plan Choose between 10 to 1.25 times the single premium paid, based on age. 10 years

    MetLife Monthly Income Plan - 10 Pay: Though this is a pension plan, it helps to bring a monthly source of income for the family, without having to worry very little, as long as premiums are paid for 10 years. This plan ensures that from the 11th year of the policy to the 25th year of the policy the individual’s family as well as he or she are able to enjoy a regular source of income and not lose out after retirement.

    MetLife Immediate Annuity Plan: This is a single payment, insurance policy that ensures you receive regular income for years to come. There is also the advantage of receiving returns of the invested capital and the best part of this plan is the fact that the policy is inflation proof since the income increases with time.

    MetLife Retirement Savings Plan: Everyone needs financial security, post-retirement and that is only possible when you have made sufficient investments or saved enough. This plan has been designed to do exactly do that. This plan comes with vesting bonuses and hassle-free operation so that the policyholder can enjoy savings without have to worry about retirement.

    MetLife Dhan Samriddhi Plan: This single premium retirement plan comes with both maturity and survival benefits along with death cover. Hence the plan allows financial security, post retirement. The policyholder can choose where his or her money should be invested, which includes stocks, bonds or even money market funds. The plan also allows the policyholder to make partial withdrawals when in need of finances.

    PNB MetLife Group Plans:

    Plan Type Key Feature 1 Key feature 2
    MetLife Unit Linked Employee Benefit Plan 5 Number of Unit- linked Funds To Choose From 4 Free Switches in a year
    MetLife Traditional Employee Benefits Plan Minimum contribution can be only Rs. 1 lakh Minimum group size is only 10
    MetLife Superannuation Ample variability and flexibility Accrued benefit payout in case of resignation, retirement or termination of the employee covered
    MetLife Loan and Life Suraksha Sum assured per member can be as low as Rs. 5,000 while there is no upper limit Minimum group size is only 50, while there is no upper limit
    MetLife Complete care Plus Option of 4 riders to choose from Reasonable premiums with full coverage
    MetLife Group Term Life Plus Free Cover Limit  

    MetLife Unit Linked Employee Benefit Plan: This unit-linked plan not only allows the policyholders to switch between 5 available funds but also do it for free 4 times in a year. It also comes with tax benefits under the Indian income tax laws which ensures that the employed are saving more. There is also a feature which allows people for gratuity contribution as well.

    MetLife Traditional Employee Benefits Plan: This plan is expected to get ample mental satisfaction from the employed with a minimum per annum guaranteed interest of 2 percent on every portions of the contribution that is made by the company for this group insurance policy, despite of this insurance policy, as the name suggests being a more traditional one. Tax benefits under Indian Income Tax laws are applicable and also has provision for gratuity contribution.

    MetLife Superannuation: This is a group annuity plan and has the major advantage of the variability and flexibility. The plan is also administered in the same fashion as a cash accumulation scheme works. Also the interest will be declared each quarter and then become a part of the the capital. This together will earn more interest every quarter.

    MetLife Loan and Life Suraksha: This is a combination of a great insurance, as well as loan for groups of people. You can further choose from two options, which includes reducing cover option and premium paying option, where insurance comes in play. The plan allows the policyholder or borrower can pay at once, 5 years limited pay ot 10 year limited pay. Also the minimum sum assured per person is Rs. 5,000 while there is no upper limit.

    MetLife Complete care Plus: This is a non-participating group insurance plan with a free cover limit that is based on characters of risk other the whole group. Also there is no medical underwriting when it comes to the free cover limit. This plan also has accelerated benefit option for quicker fund generation.

    MetLife Group Term Life Plus: The plan is intended to provide ample support to the employee and their families when they are in need. The group size can be as small as 50 people, which is very convenient for smaller companies and startups but at the same time would help to retain important customers.

    How to Place Claims for Your PNB MetLife Insurance Policy?

    Different insurance products may have different claim procedures. But generally Life insurance has differences in more of documentation required based on the cause of the event. To give more clarity to the claim process, here is a general step by step process that the rightful claimant can follow to make it easier for all parties at MetLife:

    1. Collect all the documentation in one place. More clarity will be provided on what documentation may be necessary, but it generally involves or relates to the type of claim that is being made.
    2. You have to make sure that you have copies of the documentation in your system, and easily accessible for reference. The company will investigate the claim, which is why the claim process takes time.
    3. Get a copy of a claim form and submit it along with the documents, based on the requirements of your policy. Different types of policies require different types of documents.
    4. Once the submission is made, based on the acceptance or rejection of your policy, you will notified through phone or email.
    5. The claim amount will be then transferred to the claimant’s bank account.

    It is essential to provide all the accurate and honest information for the case, else the claim will not only be rejected but will break your good will with the company. At the same time it is important that you are aware how the company is performing. In MetLife’s case, the numbers are pleasantly great with 92.86% claims been settled in 2014-15 and 90.25% claims settled in 2013-14. Also, the company has made money with Rs. 2461.19 crores paid as premium and Rs. 2240.59 in the prior year.

    Documentation for PNB Metlife Policy Application:

    The following are the minimal documentation required for PNB Metlife policy application (not exhaustive list):

    • Identity proof of policyholder and nominated
    • Address proof
    • Income Proofs and bank statements
    • Application form
    • Other documentation requested by the bank

    How to check policy status for PNB MetLife Insurance?

    PNB MetLife has over 150 branch offices across the country where one can go with their policy number, submit it along with a proof of identification at the maximum and get to know the details. However, the policy status information is available to you from the convenience from your home and office as well. You need to simply register online on their website with your policy details. Henceforth, all you need to do is simply go online, login to your account with the login and password and get all the details you need about your policy. This also can be done through email and phone. For those who are less acquainted with digital media might find the phone an easier way of accessing information .

    PNB MetLife Insurance Online Payments:

    PNB MetLife insurance payments online, is more simplified that you can think. Infact all that one needs is their insurance policy number and online banking details. The website has a page Billdesk - PNB MetLife Payment Gateway, which is dedicated to people with requirement of paying premiums online. It also makes sense due to its convenience factors with people, allowing them t not only make regular premium payments but also do it at home or office. The other details that may be required of you, are payment related. It is also a safe mode of payment since you get an instant receipt for the same.

    PNB MetLife Insurance Premium Calculator:

    When you are buying insurance the first thing one needs to figure out is the coverage amount required for a person. Such online calculators are available and so is the PNB MetLife Insurance Premium Calculator. All you need to here is simply fill in the details such as sum assured and term of the insurance product and you will be given the premium payable monthly. You need to also be alert of the type of calculation method being used or on what amount the premiums are being calculated on. You may not have an accurate idea of the actual number that will be your premium since other charges also apply but you will definitely get an estimate to plan your monthly budget.

    PNB MetLife Insurance FAQ's:

    1. What are the life insurance policies that PNB Metlife offers?

    A. Metlife offers protection plans, retirement plans, monthly income plans money back plans, investment plans, child plans, savings plan, rural plans, health plans and rider plans. Visit Metlife website to know more about the various products under each plans.

    2. What are the documents that are to be submitted while applying for the insurance?

    A. You will have submit your identity proof, age proof, address proof, income proof and PAN card documents while applying for the insurance.

    3. What are the mode of premium payment available?

    A. The payments can be made through cheque, cash or through online payment. You can also give a standing order for the bank to deduct the amount from your debit card or savings account to meet the payment of the policy.

    4. How can I make life insurance more affordable?

    A. You can buy the life insurance when you are young as the premium payment will be lower. If you have the option to take a life insurance cover through a group insurance plan offered by your employer, take it.

    5. How much life insurance do I need?

    A. You must consider how much your dependents will need to live comfortably and to be able to pay all the bills and meet other expenses while taking a life insurance. You can use the life insurance calculator that PNB Metlife is offering to determine how much insurance is right for you.

    6. Can I change my beneficiary or nominee?

    A. Yes, you can change your beneficiary at any time till the maturity date of the policy. You will have to inform PNB Metlife and fill up the beneficiary change request form.

    7. What is the free look period offered by PNB Metlife?

    A. You will get a 15 day free look period within which you can return the policy and you will get a full refund.

    8. Can I surrender my policy?

    A. Yes, you are allowed to surrender the policy.

    9. Can I take a loan on my life insurance policy?

    A. Yes, you can take a loan against PNB Metlife Life insurance policy. You will have to submit a loan request form along with the assignment request form to the nearest branch.

    10. How can I make a claim?

    A. You must follow the following steps to make a claim:

    Intimate Metlife

    Send a written intimation of the claim.

    Submit all the relevant document in support to the claim.

    Metlife will then either accept or reject the claim. If it is accepted then you will get the settlement in 15 days. If it is rejected then you will be notified about it and they will also provide you the reason.

    11. What is PNB MetLife insurance public disclosure?

    A. The insurance company has to ensure that all the policies are transparent and all the information about the policy is shared with the people except the information of their customers and policyholders. The public disclosure from the insurance company advsises and warns people of the fraudulent activities that take place, where people are asked random information about their insurance. Neither are the information supposed to be shared, nor are they supposed to be asked by the insurance company just like that. Hence, the public disclosure states to stay aloof of such activities especially telecallers.

    12. Can we make insurance online payments for PNB Metlife?

    A. Yes, the website allows you to pay online, through their online payment gateway for all the necessary payments needed to made, such as premiums or plan renewals.

    13. Where can I find the PNB MetLife insurance application forms?

    A. Almost all application are downloadable from the company website but one can also go to the 150 offices, nearest to his home. The branch locator online, will help to find the office nearest to you.

    14. What is the PNB MetLife insurance head office address?

    A. The following is the country head office address:

    Unit No. 701, 702 & 703, 7th Floor,

    West Wing,

    Raheja Towers,

    26/27 M G Road,

    Bangalore - 560001

    15. Where can I find the PNB Metlife Insurance forms such as surrender/ cancellation form, etc?

    A. All the claim forms are available online from the PNB MetLife website.

    16. What is PNB Metlife's Toll free number?

    A. 1800-425-6969 is the MetLife toll free number, but kindly note that this number is available for people calling from the Indian subcontinent only.

    17. How can I change the nomination details in my policy?

    A. Download the beneficiary change request form online and submit it at a branch or mail it to the insurance company office nearest to you.

    18. What is the minimum eligibility criteria for PNB Metlife policies?

    A. Like any other company, they need to ensure legitimacy in your want for insurance and assurance that you will pay the premiums whenever due. Hence the following are the most common eligibility criteria: Age between 18 years and 60 years (generally) and citizenship. Some also look for minimum income requirement and an individual’s credit score as well.

    19. How to cancel PNB MetLife policy online?

    A. Simply download and fill in a Surrender Request Form sign it along with the original policy document and send it to a PNB MetLife branch.

    PNB Metlife Life Insurance

    News About PNB Metlife Insurance

    • PNB MetLife Partners With J&K Bank To Launch ‘Family Protection Savings’

      PNB MetLife, one of India’s leading life insurance provider and Jammu & Kashmir Bank (JKB) have recently joined hands to launch the JKB Family Protection Savings Bank Account. This solution relies heavily on technology and has been designed considering the terrain of J&K. The JKB Family Protection Savings Bank Account is basically a savings bank account with built-in protection. Speaking at the launch, Mr. Samrat Das, CIO, said that customizable platforms and platforms can help greatly deepen impact and reach in challenging terrains of places like Jammu & Kashmir. The JKB Family Protection Savings Bank Account is based on a revolutionary path-breaking technology

      14th April 2017

    • Long-term investment plan launched by PNB MetLife.

      PNB MetLife has introduced a comprehensive online ULIP plan called Mera Wealth Plan. This life insurance plan caters to long-term investment needs like children’s education, retirement and any specific requirement of the policyholder. From the sixth year of the policy, loyalty additions will be done every year until the maturity date.

      24th August 2015

    • PNB MetLife claims employees prefer life insurance from employers

      A study by popular life insurer PNB MetLife has thrown a new light on how employees perceive and desire their life insurance schemes.

      While more than 70% of employees preferred to have life insurance offered through their employers, only about 30% of employers actually provided this benefit to their employees. While 60-70% of employees agreed on availing a life insurance without the support of the employer, being worried about the financial security of their families and rising education costs for children, about 57% were concerned about extending their retirement age beyond 65 due to worries of not having a comfortable lifestyle post retirement. Over 200 employers and 2000 employees participated in this survey.

      27th August 2015

    • New Reinstatement Drive from PNB MetLife

      A major private sector life insurance provider, PNB MetLife has recently launched a drive for reinstatement that targets customers whose policies had lapsed during the past 2 years. This drive is meant to enable existing customers to restart their policies without paying reinstatement charges or interests, and with decreased or non-existent health/medical related requirements.

      According to Mr Tarun Chugh, CEO and MD of PNB MetLife, the overall protection level of Indian citizens is just 60% of Gross Domestic Product (GDP), whereas the figure stands at 178% and 99% for Malaysia and China respectively. Therefore, it becomes imperative for Indians to ensure they have life insurance policies, so as to offset any financial troubles for their families. PNB MetLife hopes to assist customers with reinstatement so that they are not left cover-less. Reinstatement can be done by visiting the official website, or calling the company’s customer care.

      3rd March 2015

    • Pension plans should be allowed under Sec 80CCD says CEO of PNB Metife

      Tarun Chugh, the CEO & MD of PNB Metlife has said that even though the insurance sector is in a position to help the economy meet long term challenges, it can only do so if it is able to attract more capital. He also said that the policy makers need to insure that a proper environment is provided for the insurance industry to conduct business more efficiently and effectively.

      To this end he suggested that insurance products and pension plans, which are currently provided for under section 80C, should get separate sub-limits. Citing the total level of protection for citizens being only 60% of the GDP in India, as opposed to the 250+% seen in the US, UK and Japan or the 99% seen in China, he suggested additional limits will help encourage people to buy more insurance products to protect themselves and their families. He also said that products like life insurance and mutual funds can come under the purview of section 80CCD so that contributions by employers can also benefit the individual.

      Speaking about the prevailing tax structure, he said that the current scenario demands that for the insured to avail tax benefits on life insurance policies covered under section 10(10D), the sum assured must be a minimum of 10 times the first years premium. If brought down to 5 times it would encourage more investments in insurance products. He also said that the taxation structure for the insurance industry should be streamlined especially for the profits made by insurance companies and the computation of service taxes.

      With the countries insurable population set to grow to an estimated 75 crore by 2020 and with the rise in levels of income, spending and a rise in the middle class, the insurance industry can be a vehicle for nearly 35% of the total domestic savings by the year 2020 which would be a definite improvement over the 26% seen in the last decade.

      2nd March 2015

    • PNB Metlife Junior Badminton Championship Begins on 2nd Feb. 2015

      The PNB Metlife Junior Badminton Championship is set to take place between the 2nd and 6th of February, 2015, at the Tyagraj Sports Complex in New Delhi. Junior badminton aspirants from across the country will participate in the prestigious tournament, organized by PNB MetLife India, a leading life insurance corporation, in collaboration with the Badminton World Federation (BWF) and the Badminton Association of India (BAI) in order to develop badminton as a sport in India.

      The tournament will feature players between 9 and 15 yrs. of age in two categories i.e. Boys and Girls. Qualifying rounds will be held at 4 zones viz. East, West, North and South, the quarterfinalists of which will battle it out for the championship in Delhi. The winner will be entitled to winnings of Rs.2 lakhs. Also to be won are 8 scholarships to leading badminton academies.

      2nd February 2015

    • PNB MetLife Introduces New Life Plan ‘Met Loan & Life Suraksha’

      PNB MetLife and its partner J&K Bank have launched a new life plan called ‘Met Loan & Life Suraksha’. This new, non-linked, life assurance product is a group term plan offered to provide financial protection to borrowers availing home, personal, auto and education loans. This offering is an effort by J&K Bank to enhance value to its loan customers. Benefits, received in the event of a borrower’s untimely death, can be used to repay outstanding loan amounts. This way loans are secured thereby reducing NPAs for the bank. For borrowers, this plan safeguards against defaults in the face of uncertainty and promotes sound financial planning.

      Interesting features of the ‘Met Loan & Life Suraksha’ plan are options to insure lives jointly, varied frequencies and modes for payment of premium, unlimited coverage, a low entry age criterion of 15 years and a high maturity age criterion of 70 years. Additionally, there is no cap on the maximum number of members comprising a group under this plan. While this plan is being offered primarily to new borrowers, the bank endeavors to provide this facility to existing borrowers as well.

      8th January 2015

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    PNB MetLife Life Insurance Reviews

  • Page 1 of 3 1 2 3
    • PNB Metlife Life Insurance
      "Satisfying"
      0.5 5.0/5 "Blown Away!"
      I am so much satisfied with my Life Insurance with them. They have promised me a good return and I am pretty happy that my future is protected even after me. The payment options are good and you can check the status of insurance through website.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Nov 20, 2017
    • PNB Metlife Life Insurance
      "Satisfactory & fast process"
      0.5 5.0/5 "Blown Away!"
      I have opted for a ECS deduction from PNB Met life. I have taken a money back life insurance policy. The tenure is for the ten years and I get regular updates on the on the policy. The services are good and there is a bonus which I get every three years.
      Was this review helpful? 0
      , moradabad
      Reviewed on Nov 18, 2017
    • PNB Metlife Life Insurance
      "Good"
      0.5 3.0/5 "Satisfactory"
      I am having the life insurance policy with the Metlife and the customer service was not experienced, also it was not used my myself. Coverage value was good one with the Metlife like around 10 lakh Rupees.
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      , gurgaon
      Reviewed on Nov 14, 2017
    • PNB Metlife Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Metlife and the customer service is good , also the policy coverage and plan benefits are really good with them. I have not faced any claims with them till now.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 11, 2017
    • PNB Metlife Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      With PNB met life I got the life insurance policy for past 7 years. The customer support is good with PNB met life. I pay the premium of Rs,7000 in every 6mon this once. This policy has the tenure of 15years. The plan benefits and the coverage is good with this policy.
      Was this review helpful? 0
      , karaikudi
      Reviewed on Nov 06, 2017
    • PNB Metlife Life Insurance
      "Good protection for my family"
      0.5 4.0/5 "Great!"
      I took the term insurance from PNB Met Life India, through online channel. I am paying the premium around Rs. 55,000 it covers for a year. If some thing happens in that year, PNB met life provides Rs. 1 crore of reimbursement to my family. Claim settler ratio is good with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 05, 2017
    • PNB Metlife Life Insurance
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      Service was good from PNB metlife ,one of my friend is working with PNB met life. She suggested me to invest in my life insurance ,so that was the reason for my insurance process ,till now I feel their service was good I did not find any issues with them till date.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 07, 2017
    • PNB Metlife Life Insurance
      "Life insurance"
      0.5 4.0/5 "Great!"
      Term insurance is very good. I am holding this term insurance for about 7 months no issues nor any challenges with PNB MET life. I pay a premium of annually 12k and m onthly basis it is amounting to 1k. The primary benefits are like covers me and my family the amount of coverage is 60k and 25k for my spouse
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 01, 2017
    • PNB Metlife Life Insurance
      "Excellent Policy to use"
      0.5 4.5/5 "Excellent!"
      The Life insurance policy providing me all I need, I hold a PNB met life insurance for more than 2 years. The customer service is very good with PNB. This policy has the tenure of 40 years. I pay the premium of Rs.1130 per month, I do the payment through a credit card. The plan benefits and the coverage is very good with this policy . The cash returns also high in this policy.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Aug 23, 2017
    • PNB Metlife Life Insurance
      "Satisfactory"
      0.5 3.0/5 "Satisfactory"
      I am having the life insurance policy with the PNB metlife. Coverage value is up to the mark. Customer service aspects are also a good one . Response is also a good one with the PNB metlife. Basic life coverage value is also a good one when compared with others.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 22, 2017
    • PNB Metlife Life Insurance
      "Bad response"
      0.5 0.5/5 "Unacceptable"
      I have pnb Met Life Insurance policy, I have it since six years. I have faced that their customer service are very bad, less supporting staff even on call. They must have to train their staff how to talk with customers. If you have any personal relation in the company or staff than you can go, yet I would like to say that the plan is not that much attractive. It's just agent's jugglary....!
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Aug 17, 2017
    • PNB Metlife Life Insurance
      "Fraud policy And of no use policy"
      0.5 0.5/5 "Unacceptable"
      Completely fraud policy. Don't take this. I have taken that. Now PNB saying 13 lakhs after 10 years and that is also not assured after depositing 1 lakh each year It was promised 10% per year return. Means a minimum of 20-25 lakh. 21825446 - Policy Number Regards Samkit Jain
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jul 10, 2017
    • PNB Metlife Life Insurance
      "Satisfied with the policy benefits"
      0.5 4.0/5 "Great!"
      The customer services at PNB Met life is good, the team keeps me updated on the life insurance policy. I pay a premium of 1300 on a monthly basis. The tenure is for 12 years. I would get 12% interest of premium amount paid and also 12 lakhs as the policy coverage.
      Was this review helpful? 1
      , mandla
      Reviewed on May 30, 2017
    • PNB Metlife Life Insurance
      "Term insurance"
      0.5 3.0/5 "Satisfactory"
      PNB met life insurance is fine, its actually a term insurance, it is very good no issues absolutely , its term insurance in case of any unforeseen events my family would get the benefit out of it. The premium what I am supposed to pay is around 5000 annually , The policy coverage is 50 lakhs and I had already recommend this policy to others
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 04, 2017
    • PNB Metlife Life Insurance
      "Good place for investment and insurance"
      0.5 4.0/5 "Great!"
      I would like to say that PNB metlife insurance policy works in the good manner, Its the ULIP plan like its directly invested in equity markets. Its good one for making future funds to achieve goals. Coverage value with the PNB metlife is really fine for me.
      Was this review helpful? 0
      , kolkata
      Reviewed on Aug 25, 2016
    • PNB Metlife Life Insurance
      "PNB metlife policy is nice to have for future plans"
      0.5 4.0/5 "Great!"
      I am paying around 3500 Rupees for every quarter of the year as premium for the life insurance policy with PNB metlife and the tenure is around 15 years of time. I been with them from the last last four years of time and am happy with them. Customer service is good and I have visited two times to their branch, also the overall process and response is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 13, 2016
    • PNB Metlife Life Insurance
      "very simple "
      0.5 5.0/5 "Blown Away!"
      I have a traditional life insurance policy in the Punjab National bank. The policy is very simple to opt for. The bankâ??s online portal is too good. I have tenured this policy for 15 years and I am getting good benefits from it. One the important benefit I get is the maturity benefits. This policy is too good and is not outdated like others.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 30, 2016
    • PNB Metlife Life Insurance
      "NEGATIVE FACTS"
      0.5 0.5/5 "Unacceptable"
      IN THE MONTH OF MARCH , I DECIDED TO PAY MY PREMIUM DUE . I WAS NOT AWARE WITH THE BRANCH ADDRESS , I GET IT FROM GOOGLE AND ALSO CALLED UP TO THEIR CUSTOMER CARE . IT WAS A BIG SURPRISE TO ME THAT BRANCH WAS NOT THERE . IT WAS ALREADY SHIFTED FROM THERE AND CUSTOMER CARE WAS NOT AWARE OF THE FACT.
      Was this review helpful? 0
      , faridabad
      Reviewed on Apr 11, 2016
    • PNB Metlife Life Insurance
      "Good returns"
      0.5 4.0/5 "Great!"
      It is a corporate life insurance taken from PNB Met life. The services are good. They have a very good policy coverage. The benefits are also good. The premiums are paid by my employer. Good overall.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 07, 2016
    • PNB Metlife Life Insurance
      "Average payment options"
      0.5 3.0/5 "Satisfactory"
      My life insurance is from PNB Met life. The services are good. They keep me updated through emails and SMS. They also have good benefits and returns. The tenure for the policy is for 15 years. The payment options are on a yearly basis. I pay a premium of 12K. But the drawback is they have particular timings and are not flexible.
      Was this review helpful? 0
      , kottayam
      Reviewed on Apr 05, 2016
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