The PNB MetLife Mera Term Plan is a pure protection plan that has an array of additional coverage options. Anyone who is looking forward to protecting the financial future of the family should go ahead with it. The PNB MetLife Mera Term Plan has been designed to address all the protection needs most cost-effectively.Read more
The PNB MetLife Mera Term Plan is created to ensure that your family is taken care of even when you are not around. This detailed term plan takes into consideration every stage of life that you and your family go through. It also ensures that all of the costs and needs are met at all times without compromising on the lifestyle.
The table below shows the eligibility criteria of the PNB MetLife Mera Term Plan:
18 years and 65 years
For all options 99 years
For Joint Life Cover Option: 75 years (applicable to both primary and secondary life)
Mode of Premium
Monthly (only ECS) and yearly
Take a look below to understand the benefits of the PNB MetLife Mera Term Plan:
PNB MetLife Mera Term Plan gives you the option of four different forms of death benefits:
Family Income Option: Gives the candidate half of the basic Sum guaranteed in a lump sum and the rest in equal monthly instalments over ten years.
Increasing Family Income Option: Provides the candidate with a lump sum payment of 50% of the basic Sum guaranteed and an increasing monthly income of 12% per year for the next ten years.
Child Benefit Option: Provides a lump sum payment equal to 50% of the claim amount in the event of death, as well as a steady monthly income until your child reaches the age of 21.
The policyholder has the following choices if a child dies before reaching the age of 21:
If the child dies when the death benefit is being paid out, the proceeds will go to the insured's class one legal successor.
Section 80C and 10(10D) offers tax benefits for premiums charged regularly.
Note: Tax benefit is subject to changes in tax laws. Standard T&C apply.
Now let us understand some of the additional benefits of the PNB MetLife Mera Term Plan:
You can pick from various policy terms ranging from 10 to 81 years (40 years for life cover option).
This package allows you to include your partner as a beneficiary. The coverage given to the spouse would be equivalent to 50% of the Amount Assured selected by the Policyholder, up to a limit of Rs 50 lakh.
Allows premium purchases to be made in both online and offline modes.
Provides a life stage benefit by allowing you to raise the amount assured in the following circumstances:
- In regards to the Policyholder's marriage:
Equivalent to 50% of the current cover, up to a limit
This option allows you to pay your premiums regularly or annually for a daily or limited period.
If the Policyholder is not satisfied with the policy's terms and conditions, he or she will be given 15 days from the date of receipt of the policy document to revoke the policy.
Take a look below to understand the additional rider benefit options:
This benefit provides a lump sum payment to the recipient in the event of the Life Assured's unintentional death.
If the Life Assured is involved in an accident that renders him or her permanently disabled, he or she will be eligible for Accidental Disability Benefit.
According to this Rider, the Life Insured gets the CI benefit if diagnosed with any one of the covered acute illnesses as per the policy conditions.
As per this option, the Life Insured gets the Critical Illness (CI) Cover upon the first diagnosis of one of the ten mentioned Critical Illnesses, as per the plan conditions.
The following are some of the important documents that will be required to buy the PNB MetLife Mera Term Plan:
The plan can be purchased in four simple steps online:
The following exclusions would prevent the claims from being accepted:
Assume the Life Assured commits suicide within twelve months of the onset of the danger or the date of the policy's revival, whichever comes first. In that case, the policyholder's Nominee or Beneficiary is entitled to 80% of the total Premium charged before the date of death under the Policy death or the surrender value available at the time of death, whichever is higher, given that the Policyholder's Nominee or Beneficiary is not a minor.
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