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    Myth: Life Insurance is only a tax saving tool!

    It’s just a tax saving tool. That’s the first thing that comes to mind for most people when they think of insurance. And yes, it is also the biggest myth that the sector attracts.

    So what’s the reality?

    Insurance plans do offer you tax benefits. To be precise, the amount is deducted from your gross total income under Section 80C of the Income Tax Act, 1961 (subject to the conditions given therein). However, unlike other investment options like the Public Provident Fund or small savings schemes (post office deposits and national savings certificates), it also offers so much more.

    The primary function of life insurance is to protect you from unexpected losses such as sudden death or liability. It offers you complete security through risk coverage against the uncertainties of life. And, yes, it also serves as a good investment option and tax saving tool. So, if you want an ideal blend of risk cover, returns, and tax benefits, life insurance is a good choice.

    • *Tax benefits are subject to conditions and other provisions of the Indian tax laws and are subject to amendments made thereto from time to time.


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    As your trusted life insurance partner, PNB MetLife is with you amidst the current COVID-19 outbreak. Our policies also cover COVID-19 Claims. In case of a Death Claim, kindly submit the signed Claim Intimation Letter mentioning the policy number, brief of the insured event and other claim documents on the email mentioned herewith. Please write-in to us at or You can also call us on 1800-425-6969 for death claims intimations and for any queries on Monday - Saturday between 10:00 am - 7:00 pm.

    PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance PlansTerm PlanProtection PlansLong Term Savings Plans , Retirement Plans & Child Education Plan.

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