NRIs are a great investor in the Indian industry and help in the growth and development of the country. PNB MetLife offers a comprehensive range of term insurance plans for NRIs that helps in securing their families back in India. Let us look at the PNB MetLife Term Insurance for NRI:
What is Term Insurance?
Term insurance is a type of pure protection life insurance plan where you have to pay a premium amount on a regular basis for a fixed term or period so your beneficiaries can claim a specific sum assured amount at the time of any unfortunate event. Since term plan offers a high cover of the death benefit at comparatively lower premium rates, various people opt to purchase term insurance as opposed to other types of life insurance policies.
PNB MetLife Term Insurance Plans for NRI
The term insurance market in India has emerged importantly and allows even Non-Resident Indians to be eligible and purchase term insurance. PNB MetLife Term insurance for NRIs can be provided to them, based on their requirements. Some of the points to keep in mind when you purchase term insurance are specified below:
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If you are an NRI, you can buy either of one of the 2 alternatives:
Either you purchase a term insurance plan when you come to India and complete the same documentation or formalities as a citizen of India or
You buy term insurance from your present residential place in a foreign by performing mail order business. This would provide a detailed verification which would be performed by the notary or the Indian embassy.
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As a Non-Resident Indian (NRI), you can opt for online premium payment but are required to open an account in one of the mentioned banks as stated by the Insurer. Additionally, you can also perform remittances in the currency of your selection through an NRE or NRO account. The death payout would be payable into chosen account.
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If the involved risk is similar, there will be no such difference in the premium amount paid by an Indian citizen or an NRI.
Best PNB MetLife Term Insurance Plans for NRI
Here is a list of PNB MetLife Term Insurance Plans for NRIs
| PNB MetLife Term Insurance Plans |
Entry Age |
Maturity Age |
Sum Assured |
| Minimum SA |
Maximum SA |
| PNB MetLife Mera Term Plan Plus |
18 years -60 years |
99 years |
Min: 25 Lakhs |
No Limit |
| PNB MetLife Mera Term Plan |
18 years -65 years |
99 years |
Min: 5 Lakhs |
500 Crores |
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PNB MetLife Mera Term Plan
It is an individual, non-participating, non-linked pure protection plan that offers simple solutions which help to protect the financial future of your family. It has been specifically designed to address all your protection requirements at a low cost.
Key Features of PNB MetLife Mera Term Plan
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The plan provides coverage at a low cost
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Coverage up to 99 years
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Personalize your policy with different options
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Low premium rates if you are a non-smoker
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Protection of life stage for your changing protection requirements
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Tax savings benefit as per the prevailing laws of the Income Tax Act, 1961.
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PNB MetLife Mera Term Plan Plus
It is a non-linked, individual, non-par, pure risk life insurance plan which is specifically designed protection policy that offers life coverage till 99 years of age even as you select to pay a premium amount for a limited time. You can also protect your partner under the same term plan.
Key Features of PNB MetLife Mera Term Plan Plus
Factors To Consider Before Purchasing PNB MetLife Term Insurance for NRI
It is important that you should carefully understand your term insurance plan before opting for PNB MetLife Term Insurance for NRI online:
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Premium rates of term insurance
There are a number of insurers available in India. Therefore, before purchasing the first plan, you should carefully understand it thoroughly. Compute your premium rate using the online term insurance premium calculator and compare the same plan with others as well as the premium amount if you opt for an insurer from your residential country. Check the plan that is more economical and is valued better before making the right choice.
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Tax Benefits
PNB MetLife Term Insurance plan for NRIs provides you tax savings benefit. However, this sum may not be 100 percent tax-free. Research and analyze these tax savings benefit before choosing any insurer.
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CSR value indicates how many claims have been settled by the insurer against the number of filed claims. Higher the CSR, the higher the reliability of the insurance company. PNB MetLife has a CSR ratio of 98.17%, showing the quick settling of claims. So it is always advisable to check the CSR of the insurer along with the time they take to settle the claim.
