PNB MetLife Insurance

PNB MetLife India Insurance Company is a leading insurer in India. The shareholders of the company are MetLife International Holdings LLC (MIHL), Punjab National Bank Limited (PNB), Jammu and Kashmir Bank Limited (JKB) and M. Pallonji and Company Private Limited amongst other private investors. PNB and MIHL are the principal shareholders in the company. Managing Director and CEO of Metlife India Insurance is Ashish Kumar Shrivastava.

The company was consolidated in 2001. It is a merger between the financial agility of Metlife and the trustworthiness of PNB. The company is spread across 107 locations across the country and it caters to more than 100 million customers in 10,000 locations globally. Products offered by PNB MetLife include retirement and protection schemes. Due to the extensive portfolio, the insurance company caters to a huge number of people globally. For the last few financial years, the performance of PNB MetLife in India has been commendable.

Why Should You Choose PNB MetLife Insurance?

MetLife and PNB have been in the business concurrently for the last fifteen years and they don't seem to be slowing down. However, a good-performing company merger isn't a sufficient reason for people to opt for their insurance products. Below listed are some reasons why you should opt for PNB MetLife Insurance company:

Brand Value

One of the most significant factors for an insurance provider to be successful is trust. Trust for a company is built over a period of time due to various reasons such as good performance, good quality products and a huge range of products. PNB MetLife ticks off all these factors, hence, its brand value is quite high.

Profit Making Organization

The company has proclaimed consistent profits for the last 5 years and judging by the volume of claims being made it is crucial to understand that this organization is established enough to handle your investments, through linked or participating insurance products.

Flexibility and Diversity of Products

All PNB MetLife products have highly flexible features, like the tenure and the assured amounts. Even with the flexibility in the products offered by the company, there is ample diversity. The products offered by the company cater to all age groups with different kinds of insurance requirements. From least insurance requirements under the micro-insurance products to retirement plans, PNB MetLife has something to offer to everyone.

High Claim Settlement Ratio

One of the main factors that is used by people in judging the performance of an insurance company is by assessing their Claim Settlement Ratio. Claim Settle ratio gives the fraction of claims that were settled as compared to the number of claims made. The company has constantly maintained  a claim settlement ratio of 90%

Quality of Service

Merger with a global brand guarantees excellent service standards and  MetLife is not just any regular insurance company it is considered to be one of the leading insurers globally.

Types of Insurance under PNB MetLife Insurance

Protection Plans

Plan Type	Sum assured		Coverage Term
	Minimum Sum Assured	Maximum Sum Assured
PNB MetLife Mera Term Plan	10 lakhs	NA	Up to 75 years
PNB MetLife Family Income Protector Plus	NA	1.42 Crores	Up to 75 years
PNB MetLife POS Suraksha	50,000	15 lakh (in multiples of 50,000)	For a 5-year PPT: 10 years For a 10-year PPT: either 10 years or 15 years
PNB MetLife Mera Heart and Cancer Care	For cancer cover		The policy is offered for fixed terms of 10, 15, and 20 years. The premium paying term (PPT) available in the plan will be equal to the policy term
	5 Lakhs	40 Lakhs
	For Heart Cover
	5 lakhs	40 Lakhs
	For heart and cancer cover
	10 Lakhs	80 lakhs
PNB MetLife Mera Jeevan Suraksha Plan	25 lakhs	No limitations	Minimum policy term: 10 years Maximum policy term: 40 years (if policyholder has selected the option ‘with return of premiums’)
MetLife Grameen Ashray	5000	50,000	The policy is offered for a fixed term of 5 years
PNB MetLife Complete Care Plus	5000 per member	100 Crores per member
PNB MetLife Group Term Life Plus	Rs.1,000 per life/member	dependent on the administration’s rules of the group insurance scheme	The policy can be renewed after a year (one year renewable term)
PNB MetLife Loan and Life Suraksha	Rs.5,000	No limitations	Minimum policy term: For single pay - 2 years For 5-pay - 5 years For 10-pay - 10 years Maximum policy term: For single and 5-pay - 25 years For 10-pay - 30 years
PNB MetLife Pradhan Mantri Jeevan Jyoti Bima Yojana	2 lakh fixed amount		The policy is offered for a fixed term of one year. Thereafter, the same can be renewed on a yearly basis
PNB MetLife Complete Loan Protection Plan	5000	For life protection and life protection plus - no limitations (subject to Board-approved underwriting policies) For accidental and critical illness safeguard - 100% of the base sum assured amount with a Rs.1 crore maximum limit	Minimum policy term: For single pay - 2 years For limited pay - 5 years Maximum policy term: For life protection and life protection plus 40 years For accidental safeguard - 40 years (subject to maximum age of maturity being either 75 years or less than that) For critical illness safeguard - 30 years (subject to maximum age of maturity being either 75 years or less than that)

MetLife Savings Plan

Type of the Plan	Sum Assured	Policy Term
MetLife Mera Wealth Plan	Sum assured multiple For single pay - 1.25 For other pays - 10 or (0.5 * policy term), whichever amount is higher	Min policy tenure For single pay - 10 years For 5-pay - 10 years For 10-pay - 11 years For regular pay - 10 years Maximum policy term For single pay - 20 years For 5-pay - 20 years For 10-pay - 30 years For regular pay - 30 years
PNB MetLife Endowment Savings Plan Plus	Minimum sum assured is Rs.2.20 lakh There isn’t any limitations on the maximum sum assured	Policy term for the savings option For 5-pay and 7-pay PPT: 10-25 years cover term For 10-pay PPT: 15-25 years cover term For regular pay PPT: 10-25 years cover term Policy term for the savings plus option For 5-pay and 7-pay PPT: 10-25 years cover term For 10-pay PPT: 15-25 years cover term For regular pay PPT: 10-15 years cover term
PNB MetLife Whole Life Wealth Plan	Multiples of the sum assured cover - If entry age is less than 45 years - 0.5 * (70 - entry age), subject to a least of 10 If entry age is more than 45 years - 0.25 * (70 - entry age), subject to a least of 7	Minimum policy term is 99 deducted from the entry age Maximum policy term is 99 minus the entry age
MetLife Smart Platinum	Sum assured is given out in multiples	Information not provided
PNB MetLife College Plan	Minimum sum assured is Rs.2.12 lakh and  Maximum sum assured is Rs.5 crore	Minimum policy tenure is 12 years Maximum policy tenure is 24 years
MetLife Dhan Samriddhi Plan	Multiples of sum assured - The policyowner may choose either 1.25 or 10 times the single premium amount as the assured sum	The policy is offered for a fixed tenure of 10 years
PNB MetLife Income Protection Plan	Minimum sum assured is dependent on the minimum premium payable and the Maximum sum assured is Rs.10 lakh	Policy terms available under the plan If plan option is 100% RoP then for 5 year PPT, the cover tenure is 15 years If plan option is 110% RoP then for 7 year PPT, the cover term is 15 years If the plan option is 130% RoP then for 7 year PPT the cover term is 15 years If the plan option is 130% RoP then for 7 year PPT then the cover term is 20 years If the plan option is 130% RoP then for 10 year PPT, the cover term is 20 years If the plan option is 150% RoP then for 10 year PPT the cover term is 20 years
PNB MetLife Monthly Income Plan - 10 Pay	The base sum assured is annualised premium multiplied by 11	The policy is available for a fixed term of 10 years
MetLife Smart Child	The sum assured given out in the policy will be the Annualised premium multiplied by 10	The policy is offered for fixed terms of 10 years, 15 years, and 20 years
MetLife Smart One	The sum assured multiple will be - In the first policy year - single premium multiplied by 5 For the rest of the policy term single premium multiplied by 1.25	The policy is available for a term of 10 - 20 years
MetLife Mera Wealth Plan	The sum assured multiple: For single pay - 1.25 For other options - either (policy term * 0.5) or 10, whichever amount is higher	Minimum policy term - For single pay - 10 years For 5 pay - 10 years For 10 pay - 11 years For regular pay - 10 years Maximum policy term For single pay - 20 years For 5 pay - 20 years For 10 pay - 30 years For regular pay - 30 years
MetLife Money Back Plan	Minimum sum assured is Rs.2.5 lakh Maximum sum assured is Rs.5 crores	The policy is offered for a fixed term of 10 years
MetLife Bachat Yojana	Minimum sum assured is Rs.64,800 and the Maximum sum assured isRs.5 lakh	The policy is offered for a fixed term of 15 years
MetLife Guaranteed Savings Plan	Minimum sum assured amount For 5 pay - Rs.4 lakh For 7 pay - Rs.2 lakh For 10 pay - Rs.1.50 lakh Maximum sum assured amount - No limitations	The available policy terms are - For 5 pay - 10 years For 7 pay - 15 years For 10 pay - 20 years

MetLife Retirement Plans

Type of the Plan	Sum Assured	Policy Term
PNB MetLife Superannuation	Regular payouts are given out as annuities	Policy should be renewed annually
PNB MetLife Traditional Employee Benefit Plan	Information not provided	Policy should be renewed annually
PNB MetLife Unit Linked Employee Benefit Plan	Sum Assured is given out in the form of annuity	Policy should be renewed annually
PNB MetLife Immediate Annuity Plan	Sum assured is given out in the form of annuity Minimum annuity payout: Rs.1,000 every month	Information not provided
MetLife Retirement Savings Plan	As per PNB MetLife’s Board underwriting Policy	Single Pay Premium: 20 years Others: 30 years

How to Claim for Your PNB MetLife Insurance Policy?

Different insurance products under PNB MetLife's range have distinct claim procedures. But usually, the life insurance products have differences in the documents required depending on the cause of death. To get more clarity to the claim process, you can follow this step-by-step procedure to claim insurance:

• Arrange the required documents as mentioned in the official website. The documents required depend on the type of claim made

• You must ensure that you have the scanned copies of all the necessary documents in your system. The company officials will verify and validate the claim.

• Get a copy of the claim form and then submit it along with the necessary documents. The necessary documents that need to be submitted depending on the type of claim made.

• After you have submitted the claim form along with the documents you will notified about the rejection or acceptance of the claim via email or phone.

• if the claim has been accepted, the assured amount is transferred to the claimant's bank account

• It is imperative to provide accurate information while claiming, or else the claim could get rejected by the company. Simultaneously, it is essential that you're aware about the company's performance.

Documents required for PNB Metlife Policy Application

The basic documents that are required to apply for MetLife Policy application are listed below:

• ID proof of the nominee and policyholder

• Address proof

• Income Proof and Bank Statements

• Application form

• Any  Other documents requested by the bank

How Can You check policy status for PNB MetLife Insurance?

PNB MetLife has more than 150 branch offices across the country which you can visit to get the status of your insurance. You'll be required to provide the policy number and an identification proof to know the details of your policy. However, the details of a policy can also be fetched online through the official website of the company. You need to complete the online registration on their official website by using your policy details. After the registration process is complete, you need to login to your account with the user ID and password to get all the details linked with your policy. You can also inquire about your policy status through email or phone. For people who are less acquainted with the internet might find cell phones as a simpler way of accessing the information.

PNB MetLife Insurance Online Payments

To make PNB MetLife insurance payments online, you just need to provide your online banking details and insurance policy number. The website also has a Billdesk known as PNB MetLife Payment Gateway, which is devoted to people who wish to make their premium payments online.You can select the mode of payment depending on your convenience.

PNB MetLife Insurance Premium Calculator

When you are acquiring insurance, the first thing that an individual must do is to gauge the amount that they'll be required to pay in the form of premiums. Online calculators are available in most of the websites of insurance companies so that people can easily calculate the net amount of premium payable. You just need to fill out the details like the sum assured and the insurance term and monthly premium amount will be shown on the screen.

PNB MetLife Customer Care

PNB MetLife is India’s largest life insurer for many decades. The insurance behemoth has not only issued a huge number of policies over the years, but it also has a record number of satisfied customers. The achievements of PNB MetLife have been possible with the help of the dedicated customer service which is provided by the insurer to the policyholders. You can get in touch with the PNB MetLife customer care service is easy and it can be done by contacting the assigned helpline number or by sending a mail to the customer care email address. The policyholder can also extend various policy-related service requests under the customer service section on the official website of PNB MetLife. Now, policyholders can buy new policies online, make payment for their policy premiums online, track the status of their policy application, view details about their policies, update information linked with the policies, locate branches of PNB MetLife etc. Customers can also register their inquiry under the special section 'Write to Us' to get in contact with their customer support team.

PNB MetLife Insurance FAQs

What are the life insurance policies which PNB Metlife offers?

PNB Metlife offers the following policies:

• Protection Plans

• Retirement Plans

• Monthly Income Plans

• Money back plans

• Investment plans

• Child plans

• Savings plan

• Rural plans

• Health plans

• Rider plans

You can visit the Metlife website to learn more about the various types of products under each plan.

What are the documents that I'll be required to submit while applying for the insurance?

You'll be required to submit your age proof, identity proof, address proof, income proof and PAN card documents while applying for life insurance.

What is the available mode of premium payments?

You can make the payment either through online or offline mode. The payment can be made through cash, cheque or online payment. You can also make the payment through a standing order for the bank for deducting the amount from your debit card or savings account for making the premium payment for the policy.

How can I make life insurance more affordable?

For more affordable life insurance policy, you can buy the insurance when you are young since the sum assured is normal and the premium payable is low.

Can I change the nominee of my insurance policy?

Yes, you can change your beneficiary name at any point of time till the maturity. You must inform PNB Metlife and fill up the 'Beneficiary Change Request Form' for making such changes.

What is the free look period offered by PNB Metlife?

You can get a 15 day free look period in which you can return the policy and you can get a refund for the premium paid.

Can I surrender my policy?

Yes, you can surrender the policy

Can I take a loan on my life insurance policy?

Yes, you can take a loan against PNB Metlife Life insurance policy. You'll be required to submit a loan request form and the assignment request form at the nearest branch.