PNB Term Insurance For Housewife

Term insurance means protection against risks in Life. While the main reason to buy term insurance is if you are the breadwinner of your family. In such cases, your loved ones depend on you for their survival and would require funds if you were no longer around to take care of their needs. Though women may not be considered the sole earner, despite managing housework to contribute to financial responsibilities, they do a lot. So why not buy a term plan for her to further increase the safety net?

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Regardless of whether your partner is a homemaker or has a professional life, she needs term insurance as much as you. PNB MetLife Term Insurance offers a joint term plan for couples i.e., PNB MetLife Mera Term Plan Plus. The policy provides life cover to you and your spouse. It is a useful term plan as it covers non-working partners also, who cannot buy a term plan easily on their own. Let’s look at various benefits and features of PNB Spouse term plan that helps you make the right decision:

What is PNB Term Insurance for Couple? 

A PNB Term Insurance for spouse, also called joint term insurance, offers the protection of life coverage to husband and wife. A Joint/ Spouse term insurance policy has a number of benefits including discounts on premium amount payments, tax benefits, long-time policy term, and regular payout i.e., monthly income to the spouse (surviving). 

Under this, you can also buy an additional safety through permanent disability, critical illness, and accidental death riders. 

What is the Importance of Term Insurance for your Spouse?

A term insurance plan comes with the below benefits: 

  • Affordable premium rates: You can buy a term plan online at low premium rates. Term insurance plans are cost-effective. The early you buy a term plan, the lower would be its premium rate as the premium process increases with an increase in age. 

  • High amounts of Life cover: You can buy a high life cover at low premiums because a term policy is a pure protection plan having no component of investment. The total premium paid is invested towards the sum assured amount that is paid to the nominee in case of death during the policy term. 

  • Riders for enhanced safety: Term insurance offers various additional advantages apart from life protection. You can attach or add a term rider such as a permanent disability, critical illness rider, or accidental death rider, to the current base term plan. 

  • Waiver of Premium: In this, if one of the spouses passes away, the other partner will receive a waiver of premium. This simply means that they no longer have to pay premiums to keep the term insurance plan in force.

  • Tax Benefits: The tax benefits of a term insurance plan results in a lot of savings. You can claim exemptions on tax u/s 80C, 80D, and 10(10D) of the ITA, 1961.  The premium paid for a term plan is tax-deductible up to 1.5 lacs pa u/s 80C. And, the death benefit is free of taxes u/s 10(10D). 

Types of Term Plans

Why Should You Buy Term Insurance for your Spouse? 

It is always suggested to buy a joint term plan for wife and husband because such a policy helps you to have a life cover for both spouses without buying 2 separate plans and paying 2 separate premiums. Following are the main reasons why you should buy joint term insurance: 

  1. Sufficient coverage for Both Spouses 

    By purchasing a joint term insurance plan for both partners, you can receive a high life cover at a comparatively low premium rate than that for 2 individual term plans. 

  2. Convenient: 

    As both spouses are covered under a single plan, there is no need to buy two separate plans. 

  3. Death benefit for the children or surviving partner 

    If one of the partners dies, then the death benefit of the joint term insurance plan is paid to the surviving partner.

PNB MetLife Mera Term Plan Plus for Spouse 

PNB MetLife Mera Term Plan Plus is a specially designed protection policy that provides a sum assured till 99 years even if you select to pay a premium for a limited time. In this, you can also opt to protect your partner under the same plan, and choose premium return on survival till the end of the policy tenure, making it a good protection solution. 

Eligibility of PNB MetLife Mera Term Plan Plus

Criteria  Minimum  Maximum 
Entry Age  18 years 60 years 
Maturity Age  28 years  Life, Life plus: 99  Life plus health :75 
Sum Assured (without ROP) 28 years  75 years 
Sum Assured (with ROP) 28 years  75 years 
Sum Assured  25 Lakh  No Limit 
Premium Paying Term  Single pay Limited pay  Regular pay 
Premium payment mode  Yearly/half-yearly/Quarterly/Monthly 

Key Features of PNB MetLife Mera Term Plan Plus 

Following are the key features of PNB MetLife Mera Term Plan Plus: 

  • Option to choose to pay for a limited time or throughout the policy tenure as per your needs. 

  • Choose to stay secured for either whole life i.e., 99 years, or select coverage tenure as per your requirement. 

  • Option to select protection against disability, disease, and death 

    • Life Plus: Death benefit + Waiver of premium on the diagnosis of critical illness and accidental total permanent disability + Terminal illness benefit

    • Life plus Health: Death Benefit + Accelerated critical illness + Terminal illness + Waiver of premium on the detection of critical illness and accidental total permanent disability

    • Life: Death Benefit 

  • Customize the plan with a choice of extra available options such as the return of premium and spouse coverage 

  • Increase your protection with the ‘Cover Enhancement Option’ to make sure your cover is sufficient.
    Choose your payout option to suit your requirements such as lump sum, monthly income, and lump sum plus monthly income. 

  • Availability of riders to enhance the coverage 

  • Tax benefits as per the prevailing income tax laws

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PNB Term Insurance For Housewife Reviews & Ratings

4.3 / 5 (Based on 25 Reviews)
(Showing Newest 10 reviews)
Ganesh
Bhiwadi, March 02, 2021
Low premiums
I got my term insurance plan of pnb metlife insurance policy from the policybazaar. I got the premium rate too much low and into my budget instead. I am happy that policybazaar helped me in getting best plan.
Karuna
Anaparthi, February 19, 2021
Hassle free services
I have taken the pnb metlife term insurance policy from the policybazaar. It is hassle free to buy the term insurance plan from the website of the policybazaar and they provide with so much of details to me. Great work thanks a lot team.
Maninder
Chennai, October 18, 2016
PNB Term plan
PNB metlife life insurance is the company from which i bought term insurance policy. The policy coverage is high and premium is less. Claiming is simple and online renewals make so simple through online portal. The inbuilt benefits are awesome which makes policy perfectly for everybody.
Naman
Durgapur, September 26, 2016
Beneficial Policy
PNB metlife life insurance is my term insurance policy insurer. I got it in very low investment which facilitate me very big in return. Service is fabulous provided by the executives of the insurance company. Coverage and claims are huge and easily get.
Zara
Bhiwadi, August 25, 2016
Term plan
The term insurance policy i have purchased from pnb metlife insurance company. Service provided is fast and claims are even better. Online renewals are the best thing which makes more easier way to continue the plan. It reduces paperwork and documentation.
Abhishek
Shikarpur, April 14, 2016
Perfect Plan
I own pnb metlife term insurance policy plan which provide good facilities. The policy coverage is 94% and premium is ~Rs.21 K quarterly per year. Claims are easy to get due to rapid service provided by executives and staff members. Good tax saver and great future investments.
Hemant
Nilgiris, April 14, 2016
Awesome
I have term insurance policy plan like everyone else from pnb metlife life insurance. Really I personally feel this policy is the best with great benefits like best future security and it save tax also. Policy coverage is around 86%. I must say the service is really good which facilitate from executives and staff members. The claim are high and sanctioned easily.
Omesh
R.k.nagar, April 14, 2016
Fantastic
With friend advice got a term insurance policy plan with pnb metlife life insurance. The policy is good with good benefits. The policy coverage is 92%, service is good provided by the executives, claims are done in small period of time. Satisfied...
Bhavya
Ratangarh, April 14, 2016
Fair Deal
I purchase term insurance policy plan from pnb metlife life insurance. The policy coverage is good ~83%. The services are average but nice and on time. The claiming experience is nice, even the payback recovery is fast. The behaviour through executives is good. Nice plans, I like it.
Mankaran
Haldwani, April 14, 2016
Good Plan
I buy term policy plan from pnb metlife life insurance. My policy plan was an average one. Policy coverage is 77%, Claims are around 29 L and the service is bit slow that's why the claims take time to sanctioned. The behaviour of executives and staff members is nice.Good job.
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