PNB MetLife Traditional Plans

PNB MetLife , a venture between MetLife International Holdings and Punjab National Bank, has other important stake holders the list of which includes Jammu and Kashmir Bank Limited and M. Pallonji and Company Limited among others. The company has a vast experience in the financial and insurance sector through its venture companies. There are more than 8000 locations where the company is present apart from its own branches in the form of banks and other financial institutions. The insurance company sells all types of insurance plans and their plans come with great features.

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What are Traditional / Investment Plans?

The investment plans aim to fulfill the savings need of the individuals with a stress on long term saving perspective. The plans come in tow variants of Endowment and Money-Back, both of which aim to secure a saving corpus and provide life insurance policy to individuals. Premiums are to be paid as per the feature of the plans and if the customer does not pay the required premiums, the plans become paid-up in nature. In such a scenario, the Sum Assured under the plan gets reduced and this value is paid either on maturity or death as the case may be. Moreover, the plans can also earn bonuses if they are offered as Participating plans which increase the benefits payable to the policyholder.

PNB MetLife Traditional / Investment Plans

The plans offered by PNB MetLife Insurance Company are varied in nature but all of the given plans have a single aim to provide life insurance coverage to the policyholders along with an avenue to create savings through a traditional savings method. The plans are outlined below in details:

MetLife Money Back Plan

A traditional Money back plan which provides regular cash flows. Other features include:

  • Premiums under the plan are payable for the entire tenure of the plan under the Regular Pay option of premium payment

  • Money back benefits are paid from the 5th year till the 9th year @10% of Sum Assured

  • On maturity, 60% of Sum Assured is paid to the policyholder

  • On death of the insured a benefit higher of the chosen Sum Assured or annualized premium multiplied by 10 or 105% of aggregate premiums paid is payable to the nominee

  • Rebates in premiums for choosing yearly and half-yearly mode of payment @3% and 1.5% respectively

  • Discount in premiums for choosing higher levels of Sum Assured of Rs.10 lakhs or above

  • Loansare available under the plan @90% of the Special Surrender Value

  • Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.

Eligibility Details

  Minimum Maximum
Entry Age 13 years 55 years
Maturity Age - 65 years
Policy Term 10 years
Premium amount Rs.23, 119 Rs.51, 63, 875
Sum Assured Rs.2.5 lakhs Rs.5 crores
Premium Payment Term 5 years or Single Pay
Premium Paying Frequency Yearly, half-yearly, quarterly or monthly


MetLife BachatYojana

A traditional Endowment plan with the following notable aspects:

  • Being offered as a plan which participates in the company’s profits, bonus is earned

  • Limited Premium is payable under the plan

  • On maturity date, the Sum Assured on maturity plus the vested simple reversionary bonuses including any Terminal Bonus is payable

  • If death occurs, the Sum Assured on death is payable which is higher of the Sum Assured or 10 times the annual premium or 105% of all premiums paid till the date of death and the vested reversionary bonuses with any Terminal Bonus

  • @90% of the Special Surrender Value can be taken as loan

  • Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.

Eligibility Details

  Minimum Maximum
Entry Age 20 years 60 years
Maturity Age - 75 years
Policy Term 15 years
Premium amount Rs.6000 Rs.23, 999
Sum Assured Rs.64, 800 Rs.5 lakhs
Premium Payment Term 10 years
Premium Paying Frequency Yearly, half-yearly or monthly

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MetLife Bhavishya Plus Plan

A money back insurance plan which provides cash flows in the last three years of the policy. Other important points are mentioned below:

  • The plan earns bonuses through profit particpation

  • Money back benefits are payable in the last 3 years of the plan @20% of Sum Assured

  • On maturity, 40% of the Sum Assured and the accrued vested bonuses with any Terminal Bonus is payable

  • When death happens, a benefit higher of the chosen Sum Assured payable on maturity or 10 times the premium or 105% of total premiums paid is payable to the nominee including the vested reversionary bonuses and any Terminal Bonus

  • A value of 90% of the Special Surrender Value is available as loan

  • Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.

Eligibility Details

  Minimum Maximum
Entry Age 20 years 45 years
Maturity Age - 69 years
Policy Term 12 years 24 years
Premium amount Rs.8000 Rs.17, 999
Sum Assured Rs.92, 320 Rs.5 lakhs
Premium Payment Term Equal to plan term
Premium Paying Frequency Yearly, half-yearly or monthly

MetLife College Plan

A traditional money back child insurance plan to safeguard the child’s future. 20% of Sum Assured is paid as survival benefits in the last 3 years of the policy. Simple reversionary bonuses accrue from the 3rd policy year and thereafter till the end of the term. In case of death, a benefit higher of 10 times the annual premium or base Sum Assured or minimum guaranteed Maturity Sum Assured or 105% of all premiums paid till the date of death is payable with the vested reversionary bonuses. All future premiums will be waived off but the plan continues. Survival benefits accrue in the last three years of the plan as and when they accrue. When the term expires, i.e. on maturity, the Maturity Sum Assured including the reversionary bonuses accrued post death and any Terminal Bonus is paid to the nominee. On maturity, the Maturity Sum Assured including the reversionary bonuses accrued and any Terminal Bonus is paid to the nominee

Applying for a Traditional / Investment Plan from the company:


The company offers specific plans which are available online only. The customer only needs to log into the company’s website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through credit card, debit card or net banking facilities and the policy will be issued


Plans which are not available online can be purchased from agents, brokers, banks, etc. where the intermediaries help with the application process.

Applying For Traditional Insurance through PolicyBazaar

  • On the PolicyBazaar homepage, click on Traditional Insurance under the Personal tab.

  • Click New Quotes to compare and choose from top insurance providers.

  • Fill your date of birth (DOB), whether you are a smoker/non-smoker, and the payout amount. On the basis of your payout amount, you will get an estimate of your premium. Next click Continue.

  • Fill in your name, email address, city, country code, and mobile number. Click Continue.

  • You will be taken to the Life Insurance quotes page where you will see life insurance quotes of more than 10 insurers. Next, choose the plan as per payment schedule – One Time Payout and Monthly Payout Plans.

  • After reviewing and comparing each life insurance quote, click the premium amount to buy the desired plan.

  • You will see a pop-up on the screen which will give you an overview of the chosen plan like premium, plan features, exclusions, additional riders, etc. Click Proceed.

  • This will take you to the insurer’s website. Fill in the necessary details to buy the plan.

What are the other factors to consider before buying an endowment plan?

An endowment plan provides cover as well as savings. However, it is more expensive than a term plan. Also, the entire amount of money you put in doesn’t get invested in your fund. An amount is deducted for your insurance fund. So if you purely want to invest the money, you should look at the pure saving platforms such as PPF or mutual funds. Similarly, if you want pure life cover, you could opt for a term plan. However, if you have particular financial goals to meet in the future and want to assure that your family isn’t left in a challenging spot in your absence, buy an endowment plan as it will take care of these issues very effectively.


How Does an Endowment Plan Work?

An endowment plan is one of the easiest insurance plans to understand. It is a traditional insurance policy which combines insurance and savings. So you basically keep paying the premium till a particular period of time and after that, when the policy matures, you get a lump sum amount of money. If during the policy period you happen to die, your beneficiary gets the death benefit. In this way it is similar to a basic term plan. However, unlike a basic term plan, an endowment plan has the return component, i.e. it pays an endowment to the policyholder.

To know about Term Insurance  check at  PNB Metlife Term Insurance

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
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PNB MetLife Traditional Plans Reviews & Ratings

4.2 / 5 (Based on 24 Reviews)
(Showing Newest 10 reviews)
Kurukshetra, September 26, 2016
Worth It
I invested my savings with pnb metlife life insurance by purchasing traditional insurance policy plan. Policy coverage is good and the premiums are less. Service provided is nice and on time. Claims are easy to get by executives help and the online renewals are the best.
Anjuna, July 26, 2016
Investment plan
I have traditional insurance policy, it has low premium but the returns are high. Service is fantastic provided by the executives. Updates are mailed to my email address regularly regarding policy plan. Good job metlife life insurance, i really like your services.
Durgapur, July 11, 2016
Traditional Policy
My traditional insurance plan is good with maximum recovery, refund and reimbursed by the insurance company. Service is good and on time. Claiming become easy to this, Premium is less and policy coverage is high.
Chandigarh, June 29, 2016
Super traditional insurance plan i have which i buy in low premiums. The policy coverage is high and claims are good. Service provided by your company staff is fantastic. Updates regarding policy is mailed regularly to me. Internet service is also nice and easy to access.
Aligarh, April 14, 2016
The policy i have is pnb metlife traditional policy plan which is very good and the premiums are low with high in policy coverage 95%. The claiming part is very easy because the service is very fast with good response from the staff members. Nice future investment with tax savings.
Bengaluru, April 14, 2016
Nice Services
I finally buy pnb metlife life insurance traditional policy plan. Policy covers almost all cases and the amount of returns is around 34 L. Service provided is fast and on time. Good future investment which save taxes. Nice job by executives and staff members.
Patiala, April 14, 2016
Best Policy Plan
My pnb metlife life traditional policy plan is good in services. The policy coverage is good ~90% and the premiums are low. Claiming process is easy due to fast service provided by the executives and the staff members. The payback amount is ~Rs.39 L. I like the terms and conditons.
Palani, April 14, 2016
Totally Safe
Policy has all benefits and the investments are also low. Around Rs.45 L is payback amount. PNB metlife life insurance provide me traditional plan which has good facilities and the service is very quick. The up gradation details in policy is mailed to me time to time. Good work.
Zahirabad, April 14, 2016
Quality Investment
PNB metlife life insurance traditional policy plan which have 94% policy coverage and the claims are easy to get because of fast services provided by the executives and staff members. The daily updates are texted and mailed time to time to may email id and cell number. Good work.
Manesar, April 14, 2016
Just Go For It
I have traditional policy plan from pnb metlife life insurance. The policy provides good coverage with low premiums. Claims are around Rs.38 L. Service always on time. The executives and staff members are facilitate great services. Satisfactory policy plan, nice work.
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