• PNB MetLife Flexi Shield Plan

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Responsiveness

    Overview

    We live in a social world where our lives revolve around interacting with other people. Businesses and organisations survive on their ability to function as a group, offering environments where a team takes priority over an individual. Met Flexi Shield is a group plan offering establishments an edge over their competitors, ensuring they are able to build and maintain a lifelong relationship with their customers. This MetLife plan offers an affordable solution to establishments helping them lower default risk due to the death of a customer apart from other benefits.

    Eligibility Criteria of PNB MetLife Flexi Shield Plan

    Entry Age Minimum – 15 years

    Maximum – 60 years

    Maturity Age Maximum – 70 years
    Group Size Minimum – 50 people

    Maximum – no upper limit

    Sum Assured (per member) Minimum – Rs 5,000

    Maximum – No upper limit

    Key Features of PNB MetLife Flexi Shield Plan

    Type Non-participating Group Savings Scheme
    Coverage Reducing Cover – Under this cover, a policyholder is provided a coverage amount which is the lowered outstanding loan amount he/she has taken. This is suitable for educational/auto loans and mortgages.

    Level Coverage – Under this plan a same cover is provided throughout the term of a particular policy.

    Benefits Death Benefit – A lump sum death benefit is provided in the event of death of a policyholder. If an individual has opted for the reducing cover option this benefit will be the loan amount pending at the beginning of a month. If an individual has opted for Level Cover, then the Sum assured will be paid. For joint policies, a death benefit will be paid for the death of first life insured, post which the policy would be cancelled.

    Maturity Benefit – There is no maturity benefit available under this scheme.

    Surrender Benefit – A surrender benefit will be paid, provided certain conditions are met.

    Basis Group
    Policy term Minimum – 1 year

    Maximum - 25 years

    Premium paying options This plan comes with multiple premium paying options, including single pay, regular pay and limited pay (3 and 5 years).
    Premium paying modes Premium can be paid either through a single payment or annual, semi-annual, monthly and quarterly modes.
    Free Look Period A 15 day Free Look period is provided to group members wherein they can choose to return the Certificate of Insurance if they disagree with the stipulations of this plan.
    Renewability Lapsed policies can be renewed within 3 years of first unpaid premium by clearing all outstanding premiums plus the interest on them.

    This option is available only to policyholders who have opted for limited and regular pay.

    Grace Period A grace period of 30 days is provided for payment of premium for annual, semi-annual and quarterly frequencies. A 15 day grace period is provided for monthly frequencies.
    Surrender Policyholders are entitled to surrender benefits which are determined through a formula. The formula differs for single pay and regular/limited pay and depends on the number of years left in a policy and the total coverage.

    Advantages of PNB MetLife Flexi Shield Plan

    Multiple coverage options Individuals can choose from two coverage options, choosing one which best suits their requirement.
    Surrender value Policyholders get surrender benefits on surrendering their policies.
    Simple The entire process is simple and hassle free.
    Increased Sum assured Individuals can opt to increase their sum assured.
    Joint borrowers Plan offers cover for joint borrowers according to the ratio of loan taken by each individual.

    How The Plan Works

    MetLife Flexi Shield Plan is designed for Affinity and employer-employee groups which provide loans or investments to people. Under this plan, either a member of the group or the financial institution can pay the premiums on behalf of individual members. If a lending financial institution is paying the premiums then it would do so after accumulating the loan amount. Post payment by a group or nominee, the insurance provider will process applications and provide a policy contract to the group. A policyholder will be chosen within the group who will be responsible for future premium payments and correspondence between group members and this individual will have the master contract of the group policy.

    An individual certificate of insurance will be provided to individual policyholders, entitling them to all the features and benefits associated with the product. In the event of new members joining a group, they can also be added to the policy on payment of premium on their behalf.

    Premium Payments

    Policyholders can choose from different options like single pay, regular pay and limited pay (3 and 5 years). Premiums can be paid either annually, semi-annually, quarterly or monthly, as per the requirements of an individual.

    Riders

    This plan does not provide an option for additional riders.

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

    PNB MetLife Flexi Shield 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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