PNB MetLife vs Bajaj Life

DigiProtect Term Plan

Premium starts ₹927/month

Max Coverage Upto

85 yrs

Claim Settlement Ratio

99.8%

Average Claim Trend

99.53%

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Bajaj Life eTouch II

Premium starts ₹938/month

Max Coverage Upto

85 yrs

Claim Settlement Ratio

99.3%

Average Claim Trend

99.28%

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PNB Met Life vs Bajaj

DigiProtect Term Plan

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Bajaj Life eTouch II

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Compare PNB MetLife Insurance and Bajaj Life Insurance to find which insurer offers the best term insurance plans in India in 2026. This detailed comparison will include premium charges, claim settlement ratio, available plans, riders, solvency ratio, and suitability.

Which is Better? PNB MetLife vs Bajaj Life

Both insurers are IRDAI-approved and provide reliable term insurance plans. It depends on your insurance requirements.

Choose PNB Met Life: If you want term plans that can extend up to age 99, along with structured payout options that allow nominees to receive the claim either as a lump sum or as regular income.
Choose Bajaj Life: If you want term insurance plans with high claim settlement ratios (98.48%+), flexible investment options like ULIPs.

Both insurers offer a wide range of insurance plans that suit the needs of every customer. Final selection should depend on your protection goals.

PNB MetLife vs Bajaj Life - Comparison Table

Let’s go through the unique features under each. Here is a detailed comparison table based on different plans of PNB MetLife vs Bajaj Life insurance.

Features	PNB Met Life Insurance	Bajaj Life Insurance
Claim Settlement Ratio (FY 2024–25)	99.57%	99.29%
Solvency Ratio	1.71	~5.16
Entry Age (Term Plans)	18 – 65 years	18 – 65 years
Maximum Coverage Up to	Up to 85 years	Up to 85 years
Riders Available	Accidental Death Benefit Rider Accidental Disability Benefit Rider Critical Illness Rider	Accidental Death Benefit Total & Partial Disability Rider Critical Illness Rider Waiver of Premium Family Protect Rider
Premium Payment Options	Yearly / Half Yearly / Quarterly / Monthly	Yearly / Half Yearly / Quarterly / Monthly
Online Purchase	Yes	Yes

Note: Information based on publicly available insurer disclosures and IRDAI reports.

Term Insurance Plans Offered

The following section lists the term insurance plans offered by PNB MetLife and Bajaj Life Insurance:

PNB Met Life Insurance Plans

PNB MetLife Mera Term Plan Plus: Best for individuals who want a term plan that allows sum assured increases through the Step-Up feature during major life events such as marriage or childbirth.
PNB MetLife DigiProtect: Ideal for online buyers who want premium break options that allow temporary pauses in premium payments under predefined conditions.
PNB MetLife Saral Jeevan Bima: Tailored for those seeking a simple plan with a standardised ₹5 lakh–₹25 lakh term insurance product with fixed coverage terms mandated by IRDAI.
PNB MetLife Aajeevan Suraksha Plan: Ideal if you prefer whole-life protection structures that can extend close to age 99, depending on the entry age.

Bajaj Life Insurance Plans

Bajaj eTouch II: Best for young professionals or newlyweds who want premium payout alternatives, disability benefits, and terminal illness coverage.
Bajaj iSecure II: Ideal for gig workers, self-employed people, and small business owners looking for affordable joint life insurance.
Bajaj Superwoman: Designed specifically to support working women, help them handle family obligations, and provide health and childcare benefits.
Bajaj Life Smart Protection Goal: Best for individuals who want a plan with a critical illness coverage rider, are debt holders, or are the breadwinners.
Bajaj Saral Jeevan Bima: Perfect for those who want something simple to start with, blue-collar workers, or first-time buyers.
Bajaj Life Diabetic Term Plan II Sub 8 HbA1c: Especially designed for policyholders suffering from Type 2 diabetes or pre-diabetes (HbA1c level 8%).

Premium Comparison (Illustrative Example)

You can calculate using the current online term insurance premium calculators. The following comparison provides an approximate idea of the monthly premiums using an example customer profile:

Age: 23 years
Gender: Male
Smoker: No
Education: Graduate
Occupation Type: Salaried
Sum Assured: ₹1 Crore
Annual income: ₹8 lakh to ₹10 lakh
Policy Term: 60 years

Insurer	Approx. Monthly Premium
PNB MetLife Digi Protect term plan	₹594
Bajaj Life eTouch II	₹799

*The real premium varies according to age, health status, policy duration, and chosen riders.

Information sourced from Policybazaar’s website

Claim Settlement Analysis

The ratio of claim settlements represents the percentage of claims settled by an insurer for a financial year.

PNB Met Life Insurance has demonstrated steady, reliable claim performance, reporting 99.57% in recent disclosures.
Bajaj Life Insurance has also kept up its good reputation, with a claim settlement rate of 99.29%.

Who Should Choose Which Insurer?

The insurance choices differ from person to person based on their specific goals and needs. To choose between PNB MetLife and Bajaj Life Insurance, start by checking their features, flexibility, and coverage.

Choose PNB Met Life if:

You want term plans that allow joint life coverage for spouses within the same policy.
You want plans that support long coverage duration for extended financial protection.
You want premium break options that allow a temporary pause in premium payments in select plans.

Choose Bajaj Life If:

You prefer insurers with very strong solvency levels, indicating high capital strength.
You need a plan with specific coverage for pre-diabetics and type 2 diabetic individuals.
You prefer an insurance with specialised plans for different customer segments.

Final Recommendation

You just need to identify which one best meets your insurance needs. PNB MetLife is better for those people who want insurance schemes with no complications and for whom life insurance is a basic necessity. On the other hand, those who want more customised insurance plans with a bunch of facilities included in them may prefer opting for Bajaj Life.

Explore the popular searches and stay informed

˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar Insurance Brokers Private Limited does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

+On the basis of your profile

+Rs. 410/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10

+Rs. 410/month (Rs.14/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age rounded off to nearest 10

+Rs. 245 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10

+Rs. 15/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10

+Rs. 504/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 494/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 636/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 918/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,286/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 453/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.582/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 786/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,592/month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 525/month is the starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 68 years of age.

+Rs. 668/month is starting price for a 2 crore term life insurance for an 25 year-old male, non-smoker, with no pre-existing diseases, cover upto 45 years of age.

+Rs. 1,200/month is starting price for a 2 crore term life insurance for an 35 year-old male, non-smoker, with no pre-existing diseases, cover upto 55 years of age.

+Rs. 410/month is starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 577/month is starting price for a 1 crore term life insurance for an 18 year-old Male, self employed, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. ₹361/month is the starting price for a ₹1 crore loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

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