Compare PNB Metlife India Insurance Plans

PNB Metlife India Life Insurance Company

PNB Metlife India Life Insurance Company

PNB MetLife or PNB MetLife India Insurance Co Ltd is owned by the shareholders such as Punjab National Bank Limited (PNB), MetLife International Holdings LLC, M. Pallonji and Company Private Limited, Jammu & Kashmir Bank Ltd (JKB) and a few other private investments. PNB and MIHL are the primary shareholders. The company has been operational in India since 2001.

PNB MetLife Insurance combines financial potency of a global insurance firm in the form of MetLife Inc with the reliability and trust of Punjab National Bank, which is among the most trust worthy and oldest nationalized banks in the country. The enormous reach of PNB in combination with the product range and insurance expertise of MetLife helps in making PNB MetLife a trusted name in the sphere of insurance providing firms.

d out across the nation. It serves consumers across 7,000 plus locations through partnerships with banks like Jammu and Kashmir Bank, Punjab National Bank, and through Karnataka Bank Ltd.

PNB MetLife offers a diverse product range for retirement and protection solutions. It has in its forte a team of financial experts which is 10,000 strong and a number of bank partners. It offers Employee Benefits plans to more than 1,200 corporate firms in India. The company has been consistently profitable. It reported profits back to back for the last 5 fiscal years.

PNB MetLife has a tremendous reach with as many as 127 offices sprea

Company performance

PNB MetLife Insurance operation began in India in 2001. There are around 130 dedicated offices of the firm. Also, several bank partnerships are in place to further strengthen the network of the company.
Since its inception, the firm has won a large number of accolades. Listed below are a couple of recent achievements of PNB MetLife India in the field of insurance-

  • At Indian Insurance Awards, PNB MetLife India was awarded with ‘Excellence in Growth Award’ in 2012
  • PNB MetLife won two awards at Asia Training and Development Excellence Awards in 2016

The CSR (claim settlement ratio) is 95.01%.
The various products presented by PNB MetLife Insurance are as follows-

  • Online Insurance
  • Protect Plan
  • Wealth Plan
  • Child Plan
  • Savings Plan
  • Retirement Plan
  • Health Plan
  • Rural Plan
  • Group Plan

The firm’s employee force is pretty strong at 9700.

Key Advantages and Features

There are certain features that set PNB MetLife Insurance a class apart-

  • Global presence- PNB MetLife Insurance Plans has a strong global presence. It has provided insurance solutions to over 100 million people around the world and 3.6 million people in India. It caters to consumer needs in 50 nations across the world.
  • Laurels- PNB MetLife has won many awards
  • Corporate Social Responsibility- The firm has undertaken various CSR initiatives in addition to programmes for employee volunteering and insurance awareness.
  • Wide Network- the company has extensive reach in the country
  • Wide range of policies- PNB MetLife Insurance Plans offers a variety of plans in various sectors such as health, child plans, etc.

Types of Products offered

Products one can avail from PNB MetLife Insurance Plans are specified below-

PNB MetLife Online Insurance Products

  • Mera Heart and Cancer Care - this is a custom-made product that provides you a comprehensive cover against cancer and heart diseases at various stages.
  • Major Illness Premium Back Cover- this health insurance plan offers coverage against 35 critical ailments such as cancer, heart attack and stroke. It helps you with treatment cost for these ailments. Plan returns to you the entire premium paid by you if you make zero claims in policy term.
  • Mera Wealth Plan- this product allows you to generate a financial plan for goals at all stage of life.
  • Mera Term Plan - this is customizable plan that offers you flexibility of choosing

from four different payout options. Spouse is also covered in the policy.

PNB MetLife Health Plans

  • Mera Heart and Cancer Care
  • Major Illness Premium Back Cover
  • Accidental Death Benefit Rider Plus

PNB MetLife Child Insurance Plan

  • Smart Child
  • College Plan

PNB MetLife Retirement Plans

  • Dhan Samriddhi Plan
  • Monthly Income Plan – 10 Pay
  • Retirement Savings Plan

PNB MetLife Group Insurance Plans

  • Complete Care Plus
  • Group Term Life Plus
  • Loan and Life Suraksha

Wealth Plans

  • MetLife Smart Platinum
  • MetLife Smart One
  • MetLife Mera Wealth Plan

Product Plans Details

The premier products offered by PNB MetLife are given here-

MetLife Mera Term Plan

MetLife Mera Term Plan Overview
Minimum Age for Policy purchase(years completed) 18
Maximum Age for policy purchase (years completed) 65
Maturity Age (years completed) 75 (max)
Policy Term (in years) Minimum- 10
Maximum- 40
Term for Premium payment Annually or onetime payment
Sum Assured (INR) Max- 100000

Benefits

  • Policy brings Tax exemption benefits
  • Lower premium
  • Payout of Sum assured with 4 options

Eligibility

  • Entry age of prospective policy holder to buy cover ranges from 18 years to a ceiling age of 65 years.

MetLife Family Income Protector Plus Plan

MetLife Family Income Protector Plus Plan Overview
Minimum Age for Policy purchase(years completed) 25
Maximum Age for policy purchase (years completed) 60
Maturity Age (years completed) 75 (max)
Policy Term (in years) Minimum- 10
Maximum- 20
Term for Premium payment Annual, bi-annually, monthly or PSP mode
Sum Assured (INR) Min- 14.2 lacs (10 years)

Benefits

  • Policy brings Tax exemption benefits
  • Lower premium

Eligibility

  • Entry age of prospective policy holder to buy cover ranges from 25 years to a ceiling age of 60 years.

MetLife Grameen Ashray Plan

Lifestyle Secure Insurance Overview
Minimum Age for Policy purchase(years completed) 18
Maximum Age for policy purchase (years completed) 55
Maturity Age (years completed) 28 (min)
75(max)
Policy Term (in years) Minimum- 5
Maximum- 35
Term for Premium payment Onetime or annual
Sum Assured (INR) Min- 5000

Benefits

  • Policy brings Tax exemption benefits
  • Easy on the budget

Eligibility

  • Entry age of prospective policy holder to buy the cover ranges from 18 years to a ceiling age of 55 years.

PNB MetLife Endowment Savings Plan

  • Policyholder’s lowest entry age (in years) - 20
  • Policyholder’s highest entry age (in years) - 60
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