• PNB MetLife Group Term Life Plus Plan

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Responsiveness

    Overview

    In the ever evolving world of business, it’s important to stay ahead of the competition in every conceivable way – and to retain customers by offering them benefits that increase their loyalty to you.

    In an effort to design a product perfectly suited for this purpose, PNB MetLife has launched the Group Term Life Plus policy , which pays a face value amount to the dependants of those in your group in case of an unfortunate incident.

    When it comes to giving a group of people the security of knowing their families are taken care of in the event of their death is where this plan excels. It can be a huge relief and motivational factor for your group.

    Eligibility Criteria of PNB MetLife Group Term Life Plus Plan

    EntryAge
    • Minimum – 15 years (non EE), 18 years (EE).
    • Maximum – 60 years (non EE), 80 years (EE)

    Expiry Age
    • 61 years(non EE), 81 years (EE).
    Premiums
    • Minimum – Rs.5,000 per scheme.
    • Maximum – Unlimited.

    Group / Scheme size
    • Minimum – 50 people.
    • Maximum – no limit.

    Face Amount (per member)
    • Minimum – Rs.1,000.
    • Maximum – As defined under the rules of the Group Insurance scheme under Administration or Group Policy Holder.

    Key Features of PNB MetLife Group Term Life Plus Plan

    Type Non-participating, 1 year renewable group protection plan.
    Basis Group.
    Coverage Death Benefit – In the unfortunate event that the life insured dies, his / her nominees will be entitled to 100% of Sum Assured.

    Survival Benefit – None.

    Maturity Benefit – None.

    Policy term Yearly renewable policy.

    Premium paying mode

    • Semi-annual.
    • Quarterly.
    • Monthly.
    Premium payment factors
    Mode of Premium Half Yearly Quarterly Monthly
    Multiplicative Factor 0.5096 0.2573 0.0863
    Loans Loans are not available against this policy.
    Tax benefits Tax benefits are applicable as per applicable taxation laws.
    Nomination facility The group member must nominate a person to receive the benefits payable by the insurance company in the unfortunate event of his demise.
    Grace Period There is a grace period of 30 days on non-payment of the unpaid premium. 15 days in the case of monthly mode.
    Free Look Period There is a free look period of 15 days from the date of receipt of policy documents.
    Reinstatement When the premiums are not paid within the grace period, the policy will lapse and is subject to non-forfeiture provisions.

    Reinstatement can be requested up to 180 days from the date of the first unpaid premium with a letter requesting the same, subject to the company’s rules on reinstatement.

    If the group wishes to reinstate after a period of 180 days, the underwriting procedure will be decided on a case to case basis.

    Reinstatement is subject to receipt of a letter showing proof of insurability along with a formal request for reinstatement, and all the unpaid premiums, along with interest.

    All premiums due till the date of reinstatement must be paid along with compound interest at the rate prescribed by the company.

    Non forfeiture In case the policy has been surrendered, 85% of the unexpired premiums will be refunded to the group policyholder.
    Exclusion
    • A suicide clause applies to all schemes.
    • In case of renewal schemes, the suicide clause does not apply to members who have been with the group for a minimum of 1 year.
    • In the cases of members who are yet to complete 1 year, the suicide clause is only applicable for the outstanding period up to the completion of one year.

    Advantages of PNB MetLife Group Term Life Plus Plan

    • Cover an entire group under a single policy.
    • Helps in employee retrenchment and customer loyalty.
    • Non-participating product that does not require any medical underwriting.
    • The premium rate depends on the characteristics of the group in terms of average age, risk, etc.
    • Premium rates are reviewed every year.
    • Income Tax Benefits as per prevailing tax laws.
    • The total coverage of the policy applies to the named nominees and dependants of all members in the group.

    How The Plan Works

    Step 1: Choose either EE or Non-EE depending on the conditions prevalent at the time of taking the policy.

    Step 2: Pay regular premiums.

    Step 3: In case any member of the group unfortunately passes, dependants will be eligible to be paid the Death Benefit by the company.

    Riders

    ADB Rider.

    APTD Rider.

    APPD Rider.

    CI Rider (EE only).

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

    PNB MetLife Group Term Life Plus 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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