• MetLife Money Back Plan

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Responsiveness

    Overview

    This is a plan of PNB Metlife that gives two guarantees – that your family and dependants will be financially covered should the worst come to pass for you, and that you will earn your money back- guaranteed.

    Eligibility Criteria of MetLife Money Back Plan

    EntryAge
    • Minimum – 13 years.
    • Maximum – 55 years.
    MaturityAge Maximum – 65 years.
    Sum Assured Minimum: Rs.2,50,000. Maximum: Rs.5,00,00,000.

    Key Features of MetLife Money Back Plan

    Type Guaranteed Money Back Plan, Non-Participating.
    Coverage Death Benefit – In the event the life insured dies, 100% of the sum assured is paid to the nominee irrespective of the survival benefits already paid.

    Survival Benefit – The life insured will receive 10% of the chosen base sum assured as survival benefits on completing 5th policy year till the 9th policy year.

    Maturity Benefit – On completing the policy term, the policyholder will be entitled to get 60% of the sum assured at the end of the policy term.

    Policy year Benefit
    5th year 10% of sum assured
    6th year 10% of sum assured
    7th year 10% of sum assured
    8th year 10% of sum assured
    9th year 10% of sum assured
    10th year 60% of sum assured
    Basis Single.
    Policy term 10 years.
    Premium paying Term Regular
    Premium paying mode The premiums can be paid annually, half-yearly, monthly and by Payroll Savings Program. The modal factors are applied as follows:
    Premium mode Modal factor
    Semi annually 0.5131
    Quarterly 0.2605
    Monthly 0.0886
    Payroll Savings Program 0.0868
    Guaranteed surrender value If the premiums are paid for 3 full policy year and the policy has been in force for 3 full policy years, the policy will acquire a guaranteed surrender value. The GSV is 30% of the total amount of premiums paid excluding the premium paid for the first policy year.
    Loans Loan is provided against the policy. The maximum loan amount offered is limited to 90% of the cash surrender value of the end of the relevant policy year. The rate of interest is determined by the company.
    Tax benefits Tax benefits are applicable as per applicable taxation laws.

    You can avail tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.

    Grace Period There is a grace period of 30 days on non-payment of the unpaid premium. 15 days in the case of monthly and PSP modes.
    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 3 years from the date of the first non-paid premium.

    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.

    Revival fees is Rs.250.

    Termination The policy stands terminated on the earliest among the following scenarios:
    • Date on which the policy is surrendered.
    • Upon the expiry of three years from the date of policy lapse. When the policy is not reinstated, provided that the policy has not acquired any paid up value.
    • On the payment of the maturity benefit.
    • Upon payment of death benefit.
    Exclusion
    • In the event that the policyholder commits suicide within one year from the commencement of insurance coverage, the insurance cover will be void and the company will not pay any benefits and will just refund the premiums paid without interest to the nominee.
    • If the policyholder commits suicide within one year from reinstatement of the policy, insurance coverage will be void and the company will not pay any benefits except the GSV and will refund the premiums paid without interest to the nominee.

    Advantages of MetLife Money Back Plan

    • Survival benefits of 10% of Sum Assured become payable on completing 5 policy years, up to the 9th policy year.
    • Total benefits of 110% of Sum Assured payable during the policy term
    • Death Benefit will be paid irrespective of the survival benefits already paid.
    • Tax benefits under section 80C and 10(10D).

    How The Plan Works

    Mr. Babu, a software engineer, takes MetLife Money Back Plan for sum assured Rs.10,00,000.

    The premiums exclusive of tax if he is aged 30 will be Rs.89,380.

    The premiums exclusive of tax if he is aged 30 will be Rs.89,680.

    The premiums exclusive of tax if he is aged 30 will be Rs.90,260.

    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

    MetLife Money Back 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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