• PNB MetLife Loan Assure Plan

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Responsiveness

    Overview

    Financial emergencies can arise at any point in our life, leaving us in a quandary over how to meet such obligations. One option available to us is a loan, which offers a temporary solution to our financial predicament. While obtaining a loan might be easy today, paying back a loan can be a long and tedious process and any unfortunate event during this term can put the onus of loan repayment on our loved ones. Met Loan Assure is a plan designed to ensure loan repayment does not take the life out of your loved ones in the event of your unfortunate demise, ensuring life can go on without an additional burden.

    Eligibility Criteria of PNB MetLife Loan Assure Plan

    Entry Age Minimum – 18 years Maximum – 60 years
    Maturity Age Maximum – 70 years
    Sum Assured Maximum – Rs 5 crore

    Key Features of PNB MetLife Loan Assure Plan

    Type Non-participating reducing term single premium group insurance scheme.
    Coverage Death Benefit – In the unfortunate event of demise of policyholder, a death benefit will be provided to his/her nominee. This benefit will either be the Sum Assured or the amount of cover which is finalised after considering the reducing value of a particular loan.

    Maturity Benefit – No maturity or survival benefit will be provided under this scheme.

    Surrender Benefit – A surrender benefit can be claimed if the outstanding loan amount is cleared while the policy is still in place or if the policy is cancelled by the group policyholder. Surrender benefits can be availed only upon meeting certain conditions.

    Basis Group
    Policy term Minimum – 3 years

    Maximum - 25 years

    Premium paying Term Single payment
    Loans Loan facility is not available under this plan.
    Surrender Policyholders can surrender their policies if they repay their outstanding loan amount during the policy term.

    Advantages of PNB MetLife Loan Assure Plan

    Single Payment Policyholders need to pay just one premium and are covered for the policy term without any additional payments.
    Surrender value Policyholders get surrender benefits when they are eligible to surrender their policy.
    Simple The entire process including application and claim is simple and hassle free.
    Tax benefits Policyholders are entitled to tax benefits under the provisions of the Income Tax Act, with all premiums paid eligible for tax deduction.
    Joint life cover In cases where more individuals have co-signed a loan, joint insurance cover will be provided to them.
    Family protection This plan protects the family of a policyholder in the unfortunate event of his/her demise by clearing off any pending loan amount.
    Non-medical limit Policyholders are protected up to their non-medical limits, as indicated in their proposal forms.

    How The Plan Works

    MetLife Loan Assure is a group policy which can be availed by financial institutions or employers who offer loans to their employees. Under this plan, individuals who avail loan from financial institutions would be covered for their outstanding loan payment. The employer/organisation can choose to insure individual members so that they are not at a financial liability if something happens to the borrower and he/she is unable to repay this amount on account of such an incident. Premiums can be collected and paid to the insurance provider or an individual can approach an institution and pay the premium individually, which will then be paid to the insurance provider.

    A certificate of insurance will be provided to every individual member of a group who has enrolled in this scheme, entitling him/her to all the benefits offered under the package. PNB MetLife will work on the mathematics, preparing a scheduled outstanding loan amount by taking into account the initial loan amount, interest rate and tenure of a loan.

    For example, Mr. Kumar, an employee of an organisation takes a loan of Rs 2.5 lakh from his company. His company chooses to insure him through Met Loan Assure so that their liability is reduced if something happens to him. Mr. Kumar assures to return the loan in 10 years, paying a certain instalment yearly. His company asks him to pay the premium towards this insurance plan which comes to Rs 15,000/-. Five years down the line Mr. Kumar passes away due to bad health, having paid just half the amount of his loan. In this case, the pending amount will be paid by Met Loan Assure, ensuring that his family is not burdened with the additional task of repaying his loan.

    Premium Payments

    Individuals are required to pay only one premium to avail the benefits offered by this PNB Metlife plan. This premium should be paid in full, without any instalments.

    Riders

    There are no additional riders available with this plan.

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

    PNB MetLife Loan Assure 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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