Group Life Insurance: Best Group Term Life Insurance

Name: PNB MetLife Complete Care Plus
Brand: PNB Metlife
Rating: 4.5 (18244 reviews)

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A group term life insurance policy provided by life insurance companies, PNB MetLife Complete Care Plus is a convenient employee insurance policy customized as per your requirement to provide financial security, cover against death and protect the family.

PNB MetLife Complete Care Plus in a nutshell

Serves full coverage at reasonable rate
Availability of Accelerated Benefit Option
Choose from 4 riders
Protection for family of the employee

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What you get

Flexible Premium Payment Modes

PNB MetLife Complete Care Plus is a flexible group insurance plan that allows you to choose from Half Yearly, Quarterly or Monthly premium payments to ensure a stable life for you and your family.

Tax Benefits

As per the prevailing tax laws, the PNB MetLife Complete Care Plus gives you the advantage of availing Tax Benefits on both premiums paid and Benefits received.

Additional Cover

With this plan, you can avail additional life covers and protection to ensure complete security for you and your family on participatory basis.

Choice of Individual Cover

The plan is designed to take care of employees, the policyholder has the option to convert to individual coverage for guaranteed protection even when they leave the organisation.

PNB MetLife Complete Care Plus ensures:

Reasonable than an individual life cover
Hassle-free implementation because of availability of free cover limit
Strong retention tool for employers
Flexible payment modes
Option to convert to individual coverage when an employee leaves the organization
Additional cover for self and family on participatory basis
Tax Benefits as applicable.

What you don't get

Maturity Benefit

Under the PNB MetLife Complete Care Plus plan, the policyholder is not payable any maturity benefits.

Surrender Benefit

There is no Surrender benefit under the PNB MetLife Complete Care Plus.

Suicide exclusion under Employer-Employee Segment:

If the Insured Member’s death is due to suicide of Inception of the Group Policy, Our liability to make payment under the Group Policy will be limited to refunding 80% of the Premium received in respect of the Insured Member, without interest. The Suicide clause will be applicable only for 1 year from the date of joining and will not be reimposed upon continuous renewal of the member’s coverage in the Group Policy.

This suicide exclusion will not be applicable if:

A.The group enrolled for this Group Policy is shifting from another life insurer or

B.The group has enrolled for this Group Policy for the first time, provided all Your employees compulsorily participate under the Group Policy.

Suicide exclusion under Non Employer-Employee Segment:

If the Insured Member’s death is due to suicide Inception of the Group Policy, Our liability to make payment under the Group Policy will be limited to refunding 80% of the Premium received in respect of the Insured Member, without interest. The Suicide clause will be applicable only for 1 year from the date of joining and will not be reimposed upon continuous renewal of the member’s coverage in the Group Policy.

Frequently Asked Questions

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What is the PNB MetLife Complete Care Plus?

PNB MetLife Complete Care Plus, is a group term life insurance policy provided by life insurance companies. It is a convenient product that provides cover against death and protects the family.

PNB MetLife Complete Care Plus is an employee insurance policy customized as per your requirement to provide financial security to your employees and their families. It is a yearly group term life insurance that pays a Sum Assured to the dependents of your employees in the event of an unfortunate eventuality.

It can also be offered in lieu of mandatory EDLI (Employee Deposit Link Insurance) for employees who are covered under Employee's Provident Fund and Miscellaneous Provision's Act, 1976.

Death or ^**Terminal Illness Benefit shall be payable according to the benefit option chosen by policyholder at inception. Benefit option, once chosen, cannot be altered during the policy term.

What does the PNB MetLife Complete Care Plus ensure?

Reasonable than an individual life cover
Hassle-free implementation because of availability of free cover limit
Strong retention tool for employers
Flexible payment modes
Option to convert to individual coverage when an employee leaves the organization
Additional cover for self and family on participatory basis
Tax Benefits as applicable

What are the key benefits of this Plan?

Serves full coverage at reasonable rate
Availability of Accelerated Benefit Option
Choose from 4 riders

What are the Product Benefits of this plan?

Accelerated Benefit Option (ABO)

Where any Employee is diagnosed as “Terminally ill”^*, 100% of the Sum Assured would be paid out immediately and the inclusion of such Member at the next Annual Renewal Date will be decided based on Board approved underwriting policy.Terminal Illness is defined as “advanced or rapidly progressing incurable illness in the opinion of an attending consultant and our Chief Medical Officer; the life expectancy is no greater than 6 months (AIDS is specifically excluded and not covered under this definition).

Maturity Benefit

There is no Maturity benefit under this product.

Death Maturity

On death (or upon terminal illness; applicable in case of Employer – Employee group only) during the policy term, the Company shall pay 100% of the Sum Assured.

Surrender Benefit

Being a pure protection product, there are no surrender benefits under this product.

What is the eligibility criteria for this plan?

Segment	Non Employer-Employee	Employer-Employee
Minimum Age at Entry	18 Years age last birthday	18 Years age last birthday
Maximum Age at Entry	65 Years age last birthday	79 Years age last birthday
Maximum Expiry Age	66 Years age last birthday	80 Years age last birthday
Minimum Sum Assured (Per member)	Rs. 10,000	Rs. 10, 000
Maximum Sum Assured (Per member)	Rs.100 crore per life	Rs. 100 Crore per life
Minimum Premium	Basis the Sum Assured and age	Basis the Sum Assured and age
Maximum Premium	Basis the Sum Assured and age Rs.1,000 Crore per Scheme	Basis the Sum Assured and age Rs.1,000 Crore per Scheme
Minimum Group / Scheme size	50	10
Maximum Group/ Scheme size	9,00,00,000	9,00,00,000

Goods & Service Tax (GST), as applicable will be charged at theprevailing rate. PNB MetLife reserves the right to levy GST andalso any other taxes as may be applicable from time to time.

How can I buy PNB MetLife Complete Care Plus?

Disclaimer:

Tax benefits are as per 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 from time to time.
PNB MetLife Complete Care Plus, Non-linked, Non-Participating, One-Year Renewable Group Term Assurance Plan | UIN: 117N093V06

^**Terminal Illness is defined as “advanced or rapidly progressing incurable illness in the opinion of an attending consultant and our Chief Medical Officer; the life expectancy is no greater than 6 months [AIDS is specifically excluded and not covered under this definition]
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding any sale.

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