• PNB MetLife College Plan

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Responsiveness

    MetLife College plan is a non-linked deferred participating, endowment plan that aims to specially focus on providing financial assistance to you for your child’s education. The plan offers systematic money-backs throughout the various stages of your child’s education. The plan offers guaranteed additions as well as insurance protection in the unfortunate event of death of the policyholder. The plan is ideal for customers who are looking to generate funds for education of their children and for those who wish to make sure their child’s education doesn’t take a hit if some unfortunate event, like death occurs.

    Eligibility Criteria for MetLife College Plan :

    Maximum Age at maturity Minimum Entry Age Maximum Entry Age
    69 years 20 years 45 years



    Key Features of MetLife College Plan

    Plan type Non-Participating non-linked endowment plan.
    Plan basis Individual, Insured person includes father, mother or legal guardian of the child
    Premium paying terms Regular
    Premium Payment Frequency Yearly, half-yearly, quarterly, monthly
    Policy term 12-24 years
    Min. Premium Amount Annual Mode - Rs.18,000

    Non-annual Mode - Rs. 30,000

    Maximum Premium Rs. 42,44,482


    Grace period
    30 days from the expected date of payment of premium (for yearly, half-yearly and quarterly modes)

    15 days from the expected date of premium payment for monthly mode

    Free Look Period 15 days from the date of signing the policy
    Nomination Nomination facility is available under section 39 of the Insurance Act, 1938
    Sum Assured Min. Sum Assured - Rs. 2,12,040

    Max. Sum Assured - Rs. 5 Crores

    Policy coverage Death benefits and maturity benefits.

    Death Benefits: In case of death of the policyholder, the following two listed below are paid to the beneficiary:

    1. Sum assured applicable plus reversionary bonuses accrued

    2. All future premiums are waived off but policy remains active for remaining policy period

    Maturity Benefits:Survival benefits which is 20% of base sum assured for the last 3 policy years plus 40% of base sum assured at maturity

    Discontinuation of premium Any discontinuation needs to be intimated to MetLife and decision regarding reduced paid-up or revival of policy needs to be made within 2 years from the inception of policy

    Benefits/Advantages of MetLife College Plan

    Listed below are some of the most prominent benefits and advantages offered by PNB MetLife College Plan.

    • Tax benefits: Tax benefits under section 80C and section 10D of the Income Tax Act are applicable on premiums paid for MetLife College Plan . Tax benefits, however, are subject to change as per tax laws.
    • Policy loan: After 3 policy years, customers can avail loans against this insurance policy.
    • Reduced Paid-up benefit: After the policy reaches surrender value, if the subsequent premiums are not paid by the policyholder within the grace period then the policy gets converted to a reduced paid-up policy by default along with a reduced paid-up sum assured on maturity.
    • Terminal Bonus pay-out: Policyholders get to avail certain terminal bonus also at the maturity of the insurance scheme. Terminal bonus depends upon MetLife and is a percentage of the reversionary bonus.
    • Flexible policy period: Customers have the flexibility to choose policy period from 12-24 years.

    How Does the MetLife College Plan Work

    Let’s take an example of Mr. Bhatia who is a software engineer who earns Rs.70,000 per month and has a son who is studying in the 1st standard. Mr. Bhatia wants to generate a substantial corpus after 12 years so as to have sufficient funds for furthering his son’s higher education after he completes his intermediate.

    Mr. Bhatia chooses to avail the policy for 12 year policy period so that sufficient funds will be with him when it’s time for his son to make his career choice. According to MetLife College Plan, Mr. Bhatia will get to avail a minimum assured sum of Rs.3 lacs at the end of 12 years.

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

    MetLife College Plan Reviews

  • Page 1 of 4 1 2 3 4
    • PNB Metlife Life Insurance
      "Worst"
      0.5 1.0/5 "Really Bad"
      The worst experience that i had with this bank, because the policy that i have taken from this bank is only to have benefit but instead i could not claim the money when i am in need of that. So, I am currently not using this policy and i feel that I had taken this policy which is unwanted.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 02, 2018
    • PNB Metlife Life Insurance
      "Decent product... Cheaper premium"
      0.5 4.0/5 "Great!"
      Decent product... Cheaper premium.... Value for money..... Go for online option for buying new insurance.... Better product then other competitors.... Would strongly recommend to go for this insurance.... Always for term insurance than other products
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 09, 2018
    • PNB Metlife Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      All the queries will be fulfilled by the PNB customer support service. The customer support service is good with the PNB METLIFE INDIA INSURANCE company. I have got the life insurance policy from the PNB METLIFE INDIA INSURANCE company around 2 years ago and this policy has the tenure of 10years. I pay the premium of Rs,6000 per month and it is very good returns.
      Was this review helpful? 0
      , allahabad
      Reviewed on Mar 26, 2018
    • PNB Metlife Life Insurance
      "Good Protection for Family"
      0.5 5.0/5 "Blown Away!"
      PNB Met life is good, the premium is okay and they gave me good coverage . But I haven't check about the claim settle ratio. I have chosen the sum assured value of Rs. 1.5 crore it has max maturity age upto 99 age. My total premium amount around Rs. 30,000 per annum. Which includes Rs. 7000 for critical illness for heart attack and cancer and Rs. 3000 for the accidental cover with Rs. 15 lakhs of coverage.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 06, 2018
    • PNB Metlife Life Insurance
      "Trusted Policy"
      0.5 4.0/5 "Great!"
      PNB metlife term insurance benefits are good, they gave me accidental, critical illness cover with rider cover upto age of 75 years. I am making the monthly premium of Rs. 2000 it has the term of 40 years. My nominees will get the sum assured of Rs.2.25 crores from the insurance company.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 24, 2018
    • PNB Metlife Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I have my life insurance policy with PNB METLIFE INDIA INSURANCE and it is a term insurance. The tenure of this life insurance policy is 16 years. I pay my premium on monthly basis through ECS and the payment options are convenient for me. I have a coverage amount of Rs 26 lakhs which is satisfactory and i am also happy with the benefits of this policy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 17, 2018
    • PNB Metlife Life Insurance
      "Average"
      0.5 3.5/5 "Pretty good"
      I am having the life insurance policy with the PNB metlife and the services are bit slow but the plans are really good one with them on that time. Response and other things are also too good one with the PNB metlife insurance company. I am happy with them till now.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 17, 2018
    • PNB Metlife Life Insurance
      "Better"
      0.5 4.0/5 "Great!"
      I have taken a MET LIFE with PNB in the year of 2009. It was recommended by one of my friend since I am happy with the policy benefits. It is a tenure of 15 years. The total coverage with the bonus and it will be accumulated around 10L. I was paying 12,000 yearly through net banking.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 12, 2018
    • PNB Metlife Life Insurance
      "Right place to shop"
      0.5 5.0/5 "Blown Away!"
      I am having the life insurance policy with the PNB metlife and I got it before a week of time. I would like to say that the coverage value is good one with them and I got the better offer with this with all riders and medical coverage too.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 04, 2018
    • 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.
      Was this review helpful? 0
      , 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
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