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    PNB MetLife Mera Term Plan Plus

    A Term plan that gives you optional cover against 50 critical illnesses

    Individual Non-Linked, Non-Participating, Pure Risk Premium, Life Insurance Plan | UIN: 117N126V01

    PNB MetLife Mera Term Plan Plus is a protection plan that provides you and your family with a comprehensive life coverage at a very nominal cost. The plan offers you flexibility to choose protection against Death, Critical Illness, Disability, and Terminal Illness along with various additional options like spouse coverage and whole life protection. You can also customize your coverage with various cover enhancement options available under the plan.

    PNB MetLife Mera Term Plan Plus in a Nutshell
    • Whole Life Coverage till the age of 99^
    • Cover your spouse under the same plan
    • Option to get back the premiums on survival
    • Child Education Benefit

    What you get

    98.17%

    Claim Settlement Ratio for Individual Business

    We have settled 98.17%* of claims received for Individual business and 99.65%* for the group business for FY 2020-21. *Please visit IRDAI website www.irdai.gov.in for further details.

    20 Yrs

    Present since 2001

    Access to 206+ million customers across 15000+ locations through bancassurance partners.

    Enhance PNB MetLife Mera Term Plan Plus with
    Life Cover Till 99^ Years

    Life Cover Till 99^ Years

    Get extended coverage till 99^ years of age.

    Step Up Benefit

    Step Up Benefit

    Increase your coverage by 10% every year for the next 10 years.

    Life Stage Benefit

    Life Stage Benefit

    Get the flexibility to increase your life coverage at key milestones.

    Child Education Support Benefit

    Child Education Support Benefit

    Get an additional layer of protection exclusively towards your children's education expenses.

    Riders

    Riders

    Get additional protection for your policy by opting for riders.

    Maximum maturity age 99^ years for all options except Life Plus Health & ROP option. Maximum maturity age for Life Plus Health & ROP option is 75 years.

    The Step Up Sum Assured is added at every policy anniversary starting from first policy anniversary for the next 10 years. The Step Up Sum Assured is equal to the Step Up Rate (fixed at 10%) multiplied by the Basic Sum Assured. An additional premium will be charged for every addition of Step Up Sum Assured, based on the age attained by the policyholder and the outstanding policy term, at the time.

    Choose to increase the Sum Assured at various life stages as mentioned below:

    • 1st Marriage: 50% of Basic Sum Assured subject to a maximum of Rs. 50 Lakhs
    • Birth of 1st child: 25% of Basic Sum Assured subject to a maximum of Rs. 25 Lakhs
    • Birth of 2nd child: 25% of Basic Sum Assured subject to a maximum of Rs. 25 Lakhs
    • Home Loan taken by the Life Assured after the Date of Commencement of Risk (only once during policy term): 50% of Basic Sum Assured subject to a maximum of Rs. 50 Lakhs

    You can choose to increase the Sum Assured with the specific goal of providing for the cost of education of one child of the Life Assured. Additional premiums will be charged from the Date of Inception of this benefit. Child Education Support Benefit Sum Assured at inception is equal to the estimated outstanding total cost of education, and reduces at every policy anniversary, provided that no claim for Death or Diagnosis of Terminal Illness (if Life Plus or Life Plus Health Benefit Option is chosen) of the Life Assured is admitted during the term of Child Education Support Benefit. This option can be chosen only if the nominated child has 5 to 19 years of education left for completion of graduate degree. This additional Sum Assured is subject to a minimum of Rs. 10 Lakhs and a maximum of Rs. 1 Cr.

    The following riders will be offered along with this plan:

    • PNB MetLife Accidental Death Benefit Rider Plus: The chosen accidental Death Benefit Sum Assured is paid to the nominee.
    • PNB MetLife Accidental Disability Benefit Rider: The Insured is paid the pre-decided Accidental Disability Benefit in case he/she meets with an accident that results in disability.
    • PNB MetLife Serious Illness Rider: The Insured is paid the Serious Illness Benefit on the first diagnosis of the 10 covered serious illnesses.
    • PNB MetLife Critical Illness Rider: The Critical Illness Benefit is paid on the first diagnosis of the 2 critical illnesses i.e. cancer and heart attack.
    PNB MetLife Mera Term Plan Plus can help you:
    • Safeguard your family’s financial independence even in your absence.
    • Secure your children’s higher education without any financial worries.
    • Stay protected for your whole life or choose a coverage term.
    • Option to protect your spouse under the same plan
    • Pay premiums as per your requirement
      a) You can pay just once and stay protected for the entire term,
      b) pay throughout the policy term by choosing Regular Pay,
      c) pay for a limited term (5, 10, 15, or 20 years), or
      d) pay till 60 years.

    What you don't get

    How can PNB MetLife Mera Term Plan Plus benefit you?

    PNB MetLife Mera Term Plan Plus offers you the ability to customize your protection plan with additional riders and coverage enhancement options. Take a look at the many ways in which this plan can work for you.

    Watch videos in

    Frequently Asked Questions

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    How does Mera Term Plan Plus provide financial protection?

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    Benefits of Mera Term Plan Plus Benefits of Mera Term Plan Plus

    What does PNB MetLife Mera Term Plan Plus offer?

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    • Choice to pay for a limited period, one time or throughout the policy term, as per your requirement:
      • Pay for a limited term of 5, 10, 15, or 20 years or pay till age 60
        OR
      • Pay just once and stay protected for the entire term
        OR
      • Pay regularly throughout policy term.
    • Choice to stay protected for either whole of life (coverage up to age 99 years) OR a coverage term as per your liking.
    • Options to choose protection against Death, Disability, and Disease:
      • Life: Cover against Death
      • Life Plus: Cover against Death and Terminal Illness plus all future premiums waived off on accidental permanent disability or diagnosis of listed critical illnesses
      • Life Plus Health: Cover against Death and Terminal Illness plus all future premiums waived off on accidental permanent disability or diagnosis of critical illness plus accelerated lump sum on diagnosis of listed critical illnesses.
    • Customizeyour plan with a choice of additional options:
      • With ‘Return of Premium’ option, you can get your premiums back on survival till maturity.
      • ‘Spouse Coverage’ can protect your spouse within the same plan.
    • Enhance your protection with one out of the ‘Cover Enhancement Options’ to ensure your life cover is adequate even as you progress in life.
    • Tailor your Benefit Payout option to suit your needs:
      • Lumpsum: Benefit will be payable as a lumpsum.
      • Monthly Income: Benefit will be payable as level monthly income for 10 years.
      • Lumpsum plus Monthly Income: Benefit will be payable as part lumpsum and part level monthly income for 10 years.
    • Enhance your cover through riders.
    • Tax benefits will be applicable as per prevailing tax laws.

    What are the Benefit Options available under PNB MetLife Mera Term Plan Plus?

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    Benefits of Mera Term Plan Plus Benefits of Mera Term Plan Plus

    What are the Additional Options available?

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    • Spouse Coverage: to protect your spouse within the same plan
    • Return of Premiums4:  get back all premiums on survival till maturity

    How does the Spouse Coverage work?

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    Policyholder at inception of this policy may choose to cover his/her spouse under the same policy by paying an additional premium. The spouse is referred to as the “Second Life” and the policyholder is referred to as the “First Life” for the purpose of this benefit.

    Only the Death Benefit is offered to the Second Life and the Sum Assured on Death of Second Life shall be payable in lumpsum only. To avail this benefit, the Basic Sum Assured with respect to the First Life should be equal to or greater than Rs. 50 Lakhs. The coverage to the Second Life shall be up to 100% of the Basic Sum Assured of the First Life, subject to Our Board approved underwriting guidelines. The Second Life issuance will be subject to underwriting as per underwriting guidelines. If the Second Life is a housewife or a non-earning female, the coverage for the Second Life will be restricted to up to 50% of the Basic Sum Assured chosen by the First Life, subject to maximum of Rs. 50 Lakhs. Please refer to the Sales Brochure for further details.

    How does the Return of Premium work?

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    The policyholder may opt for this benefit at inception of the policy. For policies where the ‘Return of Premiums’ option is chosen, the Maturity Benefit equal to the Sum Assured on Maturity is payable, provided that the Life Assured survives till the Maturity Date of the policy. This option is available with a maximum policy term of 40 years or maturity age of 75 years last birthday, whichever is earlier.

    Who is eligible to buy PNB MetLife Mera Term Plan Plus?

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    Refer to the below table for the eligibility criteria to purchase this plan:

    Parameter

    Minimum

    Maximum

    6Age at Entry (yrs)

    18

    60 (55 if 'Pay till Age 60' is chosen as PPT)

    Age at Maturity

    Without RoP

    28

    Life, Life Plus : 99
    Life plus Health : 75

    With RoP

    28

    75

    Sum Assured (Rs.)

     25,00,000

    No limit, subject to Underwriting

    Premium (Rs.)

    Based on the Basic Sum Assured, Entry Age, Policy Term, Premium payment term, Smoker Status, Benefit Option, Cover Option and Return of Premium Option chosen

    Premium Paying Term (yrs)

    • Single pay,
    • Limited pay (5, 10, 15, 20, Pay till Age 60),
    • Regular Pay

    (Minimum allowed Policy Term for Limited pay option: Premium Payment Term plus 5 years)

    Policy Term (yrs)

    10

    Without RoP:
    Life, Life Plus: 99-Age at entry
    Life Plus Health: 75 – Age at entry
    With RoP : 40

    6All Age as of last birthday

    What are the various Cover Enhancement Options available?

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    The policyholder can choose any one from following 3 Cover Enhancement Options at inception of the policy. The total Sum Assured for Cover Enhancement Benefits cannot exceed 100% of the Basic Sum Assured at any time during the term of the policy.

    Step Up Benefit

    The Step Up Sum Assured is added at every policy anniversary starting from the first policy anniversary for the next 10 years. The Step Up Sum Assured is equal to the Step Up Rate multiplied by the Basic Sum Assured. The Step Up Rate is fixed at 10%. An additional premium will be charged for every addition of Step Up Sum Assured based on the age attained by the policyholder and the outstanding policy term at the time.

    Note: This benefit is not eligible for payment under the ‘Accelerated Critical Illness Benefit’. There will be no further increase in the Step Up Sum Assured from the policy anniversary following any claim for ‘Waiver of Premium Benefit’ or ‘Accelerated Critical Illness Benefit’ with respect to the Life Assured (First Life in case Spouse Cover is chosen).

    Life Stage Benefit

    Under this option, you may opt to increase the Sum Assured at various life stages mentioned hereunder. Life Stage Sum Assured can be added without further underwriting on any of the below specified events in the life of the Life Assured:

    • 1st Marriage: 50% of Basic Sum Assured subject to a maximum of Rs. 50 Lakhs 
    • Birth of 1st child: 25% of Basic Sum Assured subject to a maximum of Rs. 25 Lakhs 
    • Birth of 2nd child: 25% of Basic Sum Assured subject to a maximum of Rs. 25 Lakhs 
    • Home Loan taken by the Life Assured after the Date of Commencement of Risk (only once during policy term): 50% of Basic Sum Assured subject to a maximum of Rs. 50 Lakhs

    The maximum additional Sum Assured put together under all these events will be Rs. 50 Lakhs. Premium for the Life Stage Benefit will be charged separately, in addition to the base premium, for every addition of Life Stage Sum Assured. Premium for Life Stage Benefit shall be based on the attained age of the Life Assured, Life Stage Sum Assured, and outstanding policy term at the time of addition of the Life Stage Sum Assured and the benefit option chosen on date of inception of the policy.

    Note: This Benefit is not eligible for payment under the ‘Accelerated Critical Illness Benefit’. There will be no further increase in the Life Stage Sum Assured post any claims in respect of ‘Waiver of Premium Benefit’ or ‘Accelerated Critical Illness Benefit’.

    Child Education Support Benefit

    Under this option, you may opt to increase the Sum Assured with a specific focus to provide for the cost of education of one child of the Life Assured. Additional premiums will be charged from the date of inception of this benefit. Child Education Support Benefit Sum Assured at inception is equal to the estimated outstanding total cost of education and reduces at every policy Anniversary, provided that no claim for Death or Diagnosis of Terminal Illness (if Life Plus or Life Plus Health Benefit Options are chosen) of the Life Assured is admitted during the term of Child Education Support Benefit. This option can be chosen only if the nominated child has 5 to 19 years of education left for completion of graduate degree. This additional Sum Assured is subject to a minimum of Rs. 10 Lakhs and a maximum of Rs. 1 Cr.

    Note: This benefit terminates upon payout of the Child Education Support Sum Assured on Death/Diagnosis of Terminal Illness (if applicable as per chosen benefit option) or upon expiry of the term of Child Education Support Benefit. This benefit is not eligible for payment under the ‘Accelerated Critical Illness Benefit’.

    Disclaimer:

    • ^Maximum maturity age 99 years for all options except Life Plus Health & ROP Option. Maximum maturity age for Life Plus Health & ROP Option is 75 years.
    • *Tax benefits are as per the Income Tax Act, 1961, & are subject to amendments made thereto from time to time. Please consult your tax consultant for more details. Goods and Services Tax (GST) shall be levied as per prevailing tax laws which are subject to change from time to time.
    • 1All the three basic Benefit options are available with and without the Maturity Benefit.
    • 2 All future premiums are waived off if the Life Assured suffers an Accidental Total permanent disability (ATPD) OR is diagnosed with any one of the 50 listed Critical Illnesses (CI) – whichever occurs first, subject to the maximum maturity age of Waiver of Premium benefit.
    • 3 The additional options “Spouse Coverage”, “Return of Premiums”, and “Cover enhancement options” will be available on payment of extra premiums.
    • 4 Return of Premiums’ option needs to be selected at the inception of the policy and this option is not available if Child education support benefit is chosen.
    • 5 The policyholder may choose only one out of the Cover Enhancement Options and is only available at inception

    PNB MetLife Mera Term Plan Plus is an Individual, Non-linked, Non-par, Pure Risk Premium, Life Insurance Product (UIN: 117N126V01). Benefit option, chosen at inception, cannot be altered during the term. Please read the Sales brochure carefully before concluding any sale. This product brochure is only indicative of terms, conditions, warranties and exceptions contained in the insurance policy. The detailed Terms and Conditions are contained in the Policy Document.

    AD-F/2021-22/334

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    Disclaimer

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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 claimshelpdesk@pnbmetlife.com or indiaservice@pnbmetlife.co.in. 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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