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PNB 50 Lakh Term Insurance

Securing your family's financial stability involves thoughtful financial planning and a dedication to financial security. If you're unsure about beginning this important financial journey, now is an ideal moment to understand what are the best plans available for a life cover of Rs. 50 Lakhs. PNB Metlife Insurance offers a term insurance coverage of 50 Lakhs with affordable premiums, ensuring that financial challenges won't cause any trouble to you. Let's understand the details of PNB 50 Lakh Term Insurance here.

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What is the PNB 50 Lakh Term Insurance Plan? 

PNB 50 Lakh Term Insurance Plan offers financial protection to your family in the unfortunate event of your death. Hence, a 50 Lakh term plan offered by PNB Metlife Insurance helps by offering a cover amount of Rs. 50 Lakhs so that you can be certain that your loved ones are going to have a financially stable future.

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How Does PNB 50 Lakh Term Insurance Work? 

Buying 50 Lakh Term Insurance Plan offered by PNB Life Insurance for a certain policy term assists the assigned beneficiary/nominee in getting a death benefit of Rs. 50 Lakhs, in the case of your untimely demise. This term life insurance policy ensures the financial well-being of your family in rough times. With its cost-effective premium rates and comprehensive life coverage, the PNB 50 Lakh term insurance plan stands out as a trustworthy choice for individuals seeking to safeguard their family's future. You can also use the 50 Lakh term plan premium calculator to know an estimate of your 50 lakh term plan premium.

Why Buy PNB 50 Lakh Term Insurance? 

Here are some of the valid reasons why you should consider buying the PNB 50 Lakh Term Insurance plan:

  • High cover at affordable premiums: While many consider the 50 Lakh term insurance plan to have high premiums, this is not the case. Buying a term plan early in life allows you to access all the benefits of term insurance at a monthly premium as affordable as Rs. 481/month.

  • Added Coverage Benefits: The PNB 50 Lakh term insurance plan expands its coverage by providing extra benefits through riders, that provides cover for risks, like accidental death, terminal/critical illness, and waiver of premium.

  • Providing Financial Assistance to Your Family: The PNB 50 Lakh Term Insurance plan makes sure that your loved ones’ financial requirements are addressed in your absence. Also, the nominees have the flexibility to use the death benefit for settling loans and managing debts, or in covering various expenses towards household and personal needs.

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How to Determine the Right Coverage Amount? 

Here is a list of all the factors that can help you in determining if buying Rs. 50 Lakh is the right cover amount for your term plan: 

  • Your Annual Income: When going for a term insurance plan, it's wise to ensure the coverage is at least 10 times your yearly earnings. For example, if you earn Rs. 3 Lakhs per year, you must surely aim for a term life insurance plan of at least Rs. 50 Lakhs life cover. You can use Policybazaar’s term insurance calculator for a more accurate estimate.

  • Current Age: Your age has a large impacts on your term insurance coverage. As you grow older, health issues become more likely, and this results in higher premium rates. Selecting the PNB 50 Lakh term insurance plan at a younger age ensures a comprehensive life cover at much lower rates, thereby, securing your loved ones' financial well-being and maintaining affordable premiums over time.

  • Financial Dependents and Their Needs: Assassing if Rs. 50 Lakhs policy amount is going to be enough or not also depends on your family’s wants/needs and your responsibility towards them. Consider the number of family members that depend on you for financial support, and consider their future requirements such as education, career, marriage, basic sustenance etc. It is crucial to guarantee that all the financial needs of your dependents, particularly those relying on your support, are thoroughly addressed.

  • Pay off Loans/Liabilities: When buying a term insurance plan, it is advised to have an idea of all your pre-existing loans/debts, like home loans, car loans or education loans. A 50 Lakh term insurance policy is a smart choice for policy cover because it provides you with a fairly high amount compared to other term life insurance plan options, covering your life goals. 

What are the Benefits of PNB 50 Lakh Term Insurance? 

Here are some benefits of PNB 50 Lakh Term Insurance:

  • Affordability: The cost of a 50 Lakh term insurance premium is quite reasonable, and if you buy term plan at a younger age, you can get it at a much lower premium rate, i.e. Rs. 481/month.

  • Additional Benefits with Optional Add-ons: The PNB 50 Lakh term insurance plan provides you with a high life cover and also allows you to enhance it with the best add-ons like critical illness, accidental death, and waiver of premium riders. Although these additional riders are not compulsory, they offer additional protection against a number of risks. It is important to note that you can only add these riders at the beginning of the policy, i.e., during the initial purchase.

  • Seamless Online Purchase: Buying a PNB 50 Lakh Term Insurance plan online is hassle-free, eliminating the need to visit PNB's branch or wait in long queues. With Policybazaar, you can easily make the purchase from the comfort of your home and enjoy a 10% discount on online term plan purchases of the Policybazaar website or app.

  • Flexible Payout Options: Unlike many insurers that offer death benefit of term insurance plans in a lump sum mode, you have the flexibility to choose from various payout methods. For instance, you can choose the combination of a lump sum or the monthly income payout option, eventually giving you better control over managing your expenses.

  • Tax Benefits: Another significant benefit of acquiring the best term plan for 50 Lakhs is eligibility for tax deductions under sections 80C and 10(10D) of the Income Tax Act, 1961.

How do you buy PNB 50 Lakh Term Insurance from Policybazaar?

Step 1: Visit the official website of Policybazaar and click on ‘Term Insurance’ 

Step 2: Fill in your basic details like Name, DoB, and contact number and then click on ‘View Plans’. 

Step 3: Answer the questions about your smoking habits, your annual income, your type of occupation, and your qualifications. 

Step 4: After providing all the necessary information, a list of all available 50 Lakh term insurance plans will be displayed. 

Step 5: Select the PNB plan from the available list and pay using your preferred payment method. 


  • Q: What is a PNB 50 Lakh Term Insurance Plan?

    Ans: PNB 50 Lakh Term Insurance Plan is designed to provide a financial safety net for your loved ones in the event of your untimely demise, offering a sum assured or 'death benefit' of Rs. 50 Lakhs.
  • Q: How do you determine the right coverage amount?

    Ans: When evaluating the right cover amount, you must consider factors like annual income, age, financial dependents, future needs, and outstanding loans. You can easily use Policybazaar’s term insurance calculator for accurate calculations.
  • Q: Why Buy PNB 50 Lakh Term Insurance?

    Ans: You must buy PNB 50 Lakh Term Insurance plan to get high coverage at low premiums and additional benefits like accidental death coverage, terminal illness benefits, and waiver of premium riders.
  • Q: Who Should Choose PNB 50 Lakh Term Insurance?

    Ans: PNB 50 Lakh Term Insurance is a great choice for young individuals, self-employed/business owners, newly married couples, parents with children, single earning members, and individuals with debts.
  • Q: What are the key benefits of PNB 50 Lakh Term Insurance?

    Ans: The key benefits of PNB 50 Lakh Term Insurance are affordability, additional benefits through optional add-ons, online availability for easy purchase, flexible payout options, and tax benefits under sections 80C and 10(10D) of the Income Tax Act.

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