PNB Metlife Loan and Life Suraksha plan is a unique insurance plan that is best suited for companies that deal in credit. This insurance plan is a great financial tool for companies that want to retain customers and offer the incentive for obtaining credit and sticking with the company.
This plan has been designed to offer insurance protection to groups where credit exists. This PNB Metlife insurance plan is aimed at offering a distinct edge to companies which want to differentiate themselves on the basis of services offered.
The PNB Metlife Loan & Life Surkasha plan offers a competitive edge to a company’s product portfolio, enhances customer loyalty of existing customers, reduces risk of default in case of customer’s sudden demise and offers the opportunity to maintain long-term customer relationships.
Entry Age | Maximum Entry Age is 65 years |
Age at which cover ceases | 70 years |
Plan Type | Non-Participating, non-linked group insurance scheme |
Plan Basis | Group |
Policy Term | 2 years, 5 years, 10 years, 25 years and 30 years |
Premium Paying Option | Single Pay, Limited Pay 5 years, limited pay 10 years |
Grace Period | 30 days from the date of premium payment |
Nomination | Available |
Base Sum Assured | Ranges between Rs.5000 and Unlimited |
Policy Coverage | Death Benefit and Maturity benefit |
Premium Payment Modes | Single, Annual, Semi-annual, quarterly, and monthly, payroll savings program |
Group Size | 50 members |
Waiting Period during which insurance is not applicable | 30 days from the date of enrolling with the insurance scheme |
Free-Look Period | 15 days from the date of receipt of insurance |
Death Benefit |
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PNB Metlife Loan & Life Suraksha Plan is a group insurance scheme that is aimed at offering group insurance to customers of a credit-based organization. In today’s world, increasing competition among businesses has made it mandatory for companies to distinguish themselves from the crowd. The PNB Metlife Loan & Life Suraksha Plan is a great financial tool that offers that distinct competitive edge that is required to win and maintain customers. The plan works both ways, for companies as well as customers. Customers get the benefit of protection in case an unfortunate event like death occurs. In such a case the family of the deceased gets saved from any loan liability. On the other hand, the companies are saved the trouble of loan defaults which may result in case the insured person passes away in case of any unfortunate event.
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