There are numerous life insurance companies in the market today. Investing in a suitable life insurance plan is a crucial requirement for all working professionals to secure their families against financial instabilities on their death or diagnosis of critical illness. Purchasing a life insurance policy will ensure that your immediate family member is provided with monetary support to manage your dependents and financial liabilities.
You will also be able to secure your children's education goals and provide your family with a sustainable constant income source till they become financially strong. PNB MetLife Aajeevan Suraksha Plan Calculator will help the aspirant policy buyers to compare several life insurance term plans and make the right purchase.
PNB MetLife is one of the most popular private life insurance providers in today’s life insurance market of India. The insurer offers various policies to its customers, including savings plans, term plans, pension plans, etc. It also offers the provision of group life insurance policies for policy buyers of various corporate companies and groups.
The term plans offered by PNB MetLife are at a comparatively significant position among all their different types of policies. The main reason for this is that the term plans of PNB MetLife are relatively cheaper. The pure protection life insurance plan seekers can opt for the PNB MetLife term plans to offer high-value life cover at an affordable price.
The most significant features of the PNB MetLife Mera Jeevan Suraksha Plan are listed below.
Your premium is decided on age at which you buy the policy and remains same, throughout your life
Premiums can increase between 4-8% each year after your Birthday
Your policy application could be rejected or premiums increase by 50-100%, if you develop a lifestyle disease
Purchasing a term insurance plan is the most crucial financial decision of your lifetime. Customers tend to choose a plan based on their affordability towards the premium that is to be paid. Premium is not a constant value for any particular term plan. Several variables such as age, marital status, income, health condition, location, smoking and drinking habits, etc., affect the value of the premium to be paid for a particular plan. So, manual computation of premiums for different plans is a complex task and is prone to the high probability of errors in the calculation.
PNB MetLife Aajeevan Suraksha Plan Calculator computes the premium for selected life cover and policy tenure duration based on the input data provided by the expectant policy buyer. This online tool governed by the PNB MetLife is easy to use and handy as it enables the customers to evaluate the plans at making the right decision from the comfort of their home.
Among various financial tools offered by PNB MetLife for the benefit of the customers, PNB MetLife Aajeevan Suraksha Plan Calculator is of higher importance as it offers the basic inspiration for the purchase of a term plan. Let us look into the step-by-step approach to obtain premium estimations using PNB MetLife Aajeevan Suraksha Plan Calculator.
Step 1: Visit the official website of PNB MetLife.
Step 2: Click on the clickable tab “Calculate Premium” on the right-hand side of the homepage.
Step 3: Enter your details and life insurance plan requirements. Verify the details and check if they are correct before you submit the details.
Step 4: You will be offered an estimated quote of premium rates as per the life cover and chosen policy tenure period. If the policy is within your feasible limits, proceed to make the payment and complete the process of purchasing.
PNB MetLife Aajeevan Suraksha Plan Calculator is beneficial to the customers and the insurance companies in several ways. Some of the important advantages of this online tool are discussed below:
The following details are required for evaluating premiums for different combinations of life cover sums and policy terms with the help of the PNB MetLife Aajeevan Suraksha Plan Calculator.
There are several options under which the policyholder can claim the death or terminal illness benefit. However, the choice of the option should be made at the inception of the plan.
Immediately after the occurrence of diagnosis of critical illness or death of the policyholder, the lump sum amount is payable to the family of the insured person. The amount payable is equal to the basic life cover of the policy.
Under this option, the life cover is offered for both policyholder and his/her spouse. This benefit considers the policyholder as the first life. The lump-sum amount is settled to the second life or nominee of the plan in case of diagnosis of critical illness or death of the policyholder or first life. The second life’s cover is equal to half the amount chosen for the first life. Never forget that the lump sum amount is payable only if the demise or diagnosis of critical illness within the term of the policy.
Under this benefit, if the policyholder encounters a diagnosis of critical illness or death within the duration of the policy tenure, the basic life cover of the plan is payable to the family of the insured. The assured sum on the demise of the policyholder is equal to a hundred times the monthly income of the insured person at the time of purchasing the policy. This lump sum amount is paid immediately, and a fixed monthly for around ten years is paid to the nominee on the date of death of an insured person.
Sum assured on death or diagnosis of critical illness of the person insured within the policy term is paid to his/her family members within a single working day. The sum assured is equal to a hundred times more than the monthly income of the policyholder at the time of purchase of the policy. In addition to this, the nominee is provided with an increasing monthly income for a period of 10 years in installments that increase by 10% every year. The monthly income’s first installment is paid one month later, exactly from the date of the insured person’s death.
Here is additional information about the premium rates of the PNB MetLife Aajeevan Suraksha Plan.
This option enables the policyholder to obtain maturity benefit equal to the sum guaranteed on maturity in case the policyholder survives till the end of the plan’s tenure. This plan incurs an additional premium.
Women are offered lower premium rates and several other additional benefits.
The policy buyer can choose either annual or half-yearly or monthly payment modes for paying premiums of the purchased policy.
A grace period of 30 days for annual or half-yearly premium payment modes and 15 days for monthly payment modes from the due date is offered for the policy buyers on unpaid premiums without extra interest.
PNB MetLife offers several online term plans, among which the PNB MetLife Mera Jeevan Suraksha Plan is the most popular one. It is a non-linked, individual, non-participating, pure protection life insurance plan offered by the PNB MetLife India Insurance Company Limited.
The plan provides two types of pay-out solutions, viz. lump sum settlement or a regular income to protect your family in case of your death by any means. You will also have an option to select premium returns if you are alive till the maturation of the policy. Being one of the leading policy providers of India, PNB MetLife provides several financial calculation tools. You can use PNB MetLife Aajeevan Suraksha Plan Calculator to evaluate the plans for affordability and purchase the most suitable plan.
A1. No. The premium calculator gives an estimation of the premium to be paid for a particular term plan. This may have variations from the exact figures.
A2. No. You can purchase the PNB MetLife Term Plan after you get employed by any of the public or private companies.
A3. Yes. Online term plans purchased from the insurer’s authentic website are safe.
A4. No. Online purchase of term plans does not incur any additional costs other than the premium sum.
A5. If the policyholder commits suicide and dies within a year from the date of purchase of the policy or from the date on which the policy was revived, the beneficiary or the nominee of the policy shall be entitled to a minimum of 80% of the total amount paid as premiums for that policy till the date of the insured person’s death or the surrender value accessible on the date of the policyholder’s death, whichever is more.
A6. Age is an important factor that decides the premium amount to be paid by the policy buyer for a particular plan. The higher the age, the greater the risk of death or critical illness. Hence, the premium values are more for an aged person when compared to that of younger individuals. However, you cannot take the risk of entering incorrect age with an intention to get more benefits while using the PNB MetLife Aajeevan Suraksha Plan Calculator because you will have an intensive hit at the time of document verification if you do so.
A7. The term insurance is an investment made to financially secure your dependents, maybe your parents, if you are single. Moreover, the earlier you make the purchase of the plan, the lesser is the payable premium amount.
A8. You are expected to reflect yourself as a consumer of alcohol though you are an occasional drinker. Drinking habits are one of the significant factors that influence your plan premium rates.
A9. No, the term insurance plans of PNB MetLife or any other insurer will not offer any maturation benefits. Even if you are alive after the end of the policy term, you will not get any portion of your premiums paid or the sum assured as the basic life cover.
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*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.