PNB Metlife India Insurance

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:

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:

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:

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:

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:

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:

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:

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.