PNB MetLife India Insurance Company Limited (PNB MetLife) is among the most renowned and trusted life insurance providers in India after having started operations in 2001. The company strayed as a multi-partner joint venture between some of the India’s most trusted banking organisations like Punjab National Bank Limited (PNB), MetLife International Holdings LLC (MIHL), Jammu & Kashmir Bank Limited (JKB), and M. Pallonji & Co. Private Limited, among some other. PNB MetLife was established with the aim to not only offer affordable, feature-rich life insurance solutions to customers, but also educate and equip them with the requisite knowledge to make the right decisions in terms of finance and insurance. Operating via a network of over 100 offices located country-wide, PNB MetLife currently serves over 10 million customers with varied needs and requirements. They currently offer policies under various categories like protection plans, health plans, child plans, savings plans, wealth plans, retirement plans, group insurance plans, and rural plans.
PNB MetLife Life Insurance Online Premium Payment Options
Bill Desk – PNB MetLife Payment Gateway
- Premium payment is of crucial importance in the life insurance coverage process. A missed premium can lead to a policy lapse, following which you will not receive any coverage or benefits from your insurer. However, given the various payments which one has to routinely take care of these days, remembering to make policy premium payments on time can sometimes be a challenge. To make this task easier for their customers, PNB MetLife has introduced a convenient and secure online payment options via Bill Desk.
- To make their PNB MetLife policy renewal premium payments online, customers can log on to the insurer’s website.
- On the main page, hover over the option labelled ‘Customer Service’.
- From the drop down menu that is displayed after, go to the ‘Premium Payment Section and click on ‘Pay Premium Online’.
- On the following page, the customer must enter their PNB MetLife policy number and click on ‘Pay Now’ to proceed with the request.
- Next, the policy and premium payment details will be displayed on the screen which the policyholder must confirm before making the payment.
Online Payment using Credit Card/Pre-paid Cards
- Policyholders can pay their policy premiums using an American Express/MasterCard/Visa/Diners credit card. After the payment has been made, they will get a confirmation regarding the same.
- Policyholders can also make renewal premium payments via a variety of cash or pre-paid cards on online gateways.
- The facility for online payment via cash card is available only for Done Cash, ItzCash, OxiCash, and Zip Cash users.
- Customers holding a net banking account with select banks can also pay their policy premiums online.
- Currently, the facility of premium payment via net banking is available for select banks like Standard chartered Bank, Axis Bank, SBI, HSBC Bank, Greater Bombay Co-operative Bank Ltd., Development Credit Bank, and Abu Dhabi Bank
- Customers who have registered themselves on online payment portals like Bill Desk and Bill Junction can also pay their policy premiums online.
- For those who are prone to forgetting making premium payments, the facility of standing instructions can be a lifesaver as your premiums are automatically paid from your credit card or bank account.
- This is an auto-debit service wherein the policyholder can provide standing instructions either on their credit card (MasterCard, Visa, or American Express) or bank account (direct debit/ECS), following which the renewal premiums will be debited from the chosen account/card on or before the due date.
- To make payment using a bank account, the policyholder must first submit a correctly filled Direct Debit/ECS mandate, along with a cancelled cheque of the account from which they wish to make the payment.
- To make payment using a credit card, the policyholder must fill up the Credit Card Standing Instruction (SI) Mandate, and a copy of the front side of their credit card with which they wish to make the payment.
- Currently, the direct debit facility for premium debit is available only with select banks like ICICI Bank, Union Bank of India, Citibank, Bank of Baroda, and IDBI Bank.
NEFT (National Electronic Funds Transfer)
- Customers can now make their renewal premium payments using the NEFT service introduced by the Reserve Bank Of India and offered by all major banks in India. This facility can be used by the policyholder not only via their bank’s net banking platform, but also at their respective bank branch as well.
- NEFT is a fast, secure, and simple service which requires the sender to provide some information related to the beneficiary’s bank account like their IFSC code, bank name, branch, etc. Since it is an electronic method of transferring funds, it offers many benefits such as elimination of middlemen for cheque/demand draft processing, cheque collection, etc. Funds are transferred instantly.
- To transfer funds via NEFT online (net banking account), you must first log into your net banking account and select the NEFT fund transfer option.
- To transfer premium via NEFT at the bank branch, you will need to fill in the ‘NEFT Transfer Form’ that is available at all NEFT-enabled bank branches.
- Option to transfer premiums via NEFT is not open to Citibank N.A. account holders. Instead, such account holders must use ‘I-connect’ feature on the Citibank website.
- After a successful NEFT transaction, policyholders will receive a UTR number (Unique Transaction Reference No.). which must be held on to for any future queries related to a particular NEFT transaction. Following are the details required to make an NEFT premium payment:
Beneficiary Account Number
6969*insert policy number*; no space to be left between 6969 and the policy number
Other Premium Payment Options
Besides online options, PNB MetLife also offers its customers a number of offline options for premium payment. Let’s find out what these are.
PNB MetLife Branches
Policyholders can pay their policy premiums at a PNB MetLife branch from Monday to Friday, between 9:00 A.M. and 6:00 P.M. Payment can be made in cash (up to Rs.50,000), credit card (MasterCard or Visa), by cheque, or demand draft.
Axis Bank Branches
- PNB MetLife policyholders who also hold an Axis Bank account can make their renewal premium payments through the i-Connect facility offered by the bank.
- To do this, they must first log on to the Axis Bank website and follow the instructions from there on. Premiums can also be paid at Axis Bank ATMs after registering on the bank’s website.
- Other PNB MetLife policyholders holding accounts with other banks can also pay their premiums at Axis Bank branches or at Axis Bank ATM drop boxes.
- Premium payments at the bank branch can be done in cash, via local cheque or demand draft.
- At Axis Bank ATM drop boxes, the premium payment can be done via demand drafts or local cheques.
Policyholders can also pay renewal premiums by dropping a cheque at Skypak drop boxes which have been placed at several locations across the country.