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PNB MetLife Mera Term Plan

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.

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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.

Eligibility Criteria of PNB MetLife Mera Term Plan

The table below shows the eligibility criteria of the PNB MetLife Mera Term Plan:



Entry Age

18 years and 65 years

Maturity Age

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

Benefits of PNB MetLife Mera Term Plan

Take a look below to understand the benefits of the PNB MetLife Mera Term Plan:

  1. Death Benefit

    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:

    1. Any other child under the age of 21 years old may be nominated.
    2. Instead, continue with Death Sum. Assured as a one-time death bonus in the form of a lump sum payment

    If the child dies when the death benefit is being paid out, the proceeds will go to the insured's class one legal successor.

  2. Tax Benefits

    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.

Additional Benefits of PNB MetLife Mera Term Plan

Now let us understand some of the additional benefits of the PNB MetLife Mera Term Plan:

  1. Flexibility

    You can pick from various policy terms ranging from 10 to 81 years (40 years for life cover option).

  2. Life Insurance for Couples

    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.

  3. Convenience

    Allows premium purchases to be made in both online and offline modes.

  4. Life Stage Advantage

    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

  5. Premium Payment

    This option allows you to pay your premiums regularly or annually for a daily or limited period.

  6. Free Look 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.

Additional Rider Options of PNB MetLife Mera Term Plan

Take a look below to understand the additional rider benefit options:

  1. Accidental Death (AD) Benefit

    This benefit provides a lump sum payment to the recipient in the event of the Life Assured's unintentional death. 

  2. Accidental Disability Protection

    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.

  3. Critical Illness (CI) 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. 

  4. Serious Illness Cover

    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.

Documents Required to Buy PNB MetLife Mera Term Plan

The following are some of the important documents that will be required to buy the PNB MetLife Mera Term Plan:

  • Identity proof
  • Age proof
  • Address proof
  • Income proof
  • Medical Records
  • Passport size photographs

How to Buy Buy PNB MetLife Mera Term Plan Online?

The plan can be purchased in four simple steps online:

  • Visit the official website of the PNB MetLife.
  • Click on ‘Buy Insurance’ and select ‘Mera Term Plan’.
  • To get a premium quote, enter your age, gender, and smoking status.
  • Fill in your personal information, such as your age, occupation, and medical background in your family.
  • If you've paid the premium, the policy is yours to keep. When applying for the contract, you will upload these documents to the selected insurance company's official website. You can scan and mail the forms to their customer support ID or send them by courier to the company's nearest branch. 

Exclusion Under Buy PNB MetLife Mera Term Plan

The following exclusions would prevent the claims from being accepted:

  1. Suicide

    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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