Group Non-Linked Non-Participating Pure Risk Premium Life Insurance Plan | UIN: 117N140V01
The PNB MetLife Group Protection Plan is a group life insurance plan available to employer-employee groups, non-employer-employee groups, and non-employer-employee homogenous groups. This plan empowers companies and group organizers to offer valuable life insurance benefits to their customers, employees, and group members. As a Master Policy Holder, the company or group organizer can customize the plan to meet your group's specific needs.
Choice of 5 Benefit Payout options
Choose how to receive benefits - Lump Sum, Annual Income, Monthly Income, Lump Sum plus Annual Income, Lump Sum plus Monthly Income
Payout Flexibility
Choice to receive the benefits as a lumpsum, monthly income over 1-20 years, or a combination of both
Joint Life Coverage
Joint Life cover has 2 variants and it may be taken at inception of the cover for a maximum of 2 lives only
Non-Forfeiture Benefit
For Single Pay policies, we shall pay an unexpired premium value if the policy is voluntary closed or terminated during the policy term
What you don’t get
Suicide Exclusion
In case of death of the member due to suicide within 12 months from the date of commencement of risk under the policy or from the date of latest revival of the member under the policy, as applicable, the nominee or beneficiary of the Insured Member shall be entitled to 80% of all the total premiums paid in respect of the Insured Member till the date of death or the unexpired premium value available as on the date of death whichever is higher, provided the policy and his membership, both, are in force as on the date of death.
Flexible payout options are offered as below:
Lumpsum - Benefit payable as lumpsum
Monthly Income - Benefit payable as level monthly income for 12-240 months (1-20 years)
Annual Income - Benefit payable as level annual income for 1-20 years
Lumpsum Plus Monthly Income - 50 % of the benefit payable in lumpsum and the rest 12-240 months (1-20 years) in equal monthly installments
Lumpsum Plus Annual Income - 50 % of the benefit payable in lumpsum and the rest 1-20 years in equal monthly installments
Benefit Payout Option needs to be chosen at the inception of the cover and cannot be changed later.
Sum Assured is equal to one of the following:
Level Cover: Absolute amount is chosen at the inception of the cover
Increasing/Decreasing Cover: Absolute amount assured as on the date of the insured event where the change of assured amount based on increment/decrement rate is pre-decided at the inception of coverage
The Benefits available to the group members are as per the plan chosen by the Master Policyholder The Plan Option needs to be chosen at the inception of the policy.
Joint Life Cover may be taken at inception of the cover for a maximum of two lives only. Cover will be extended subject to existence of insurable interest between the two lives and subject to underwriting as per Board approved underwriting guidelines. Joint Life Cover has the following two variants:
Option A - The relationship between joint lives can be only that of spouse
Option B - Maximum of 2 lives can be covered jointly and the relationship between joint lives can only be that of spouse, parents or children.
Joint Life Cover should be taken at the inception of the cover for a maximum of 2 lives.
Option A- Available only for non-employer-employee groups & non-employer-employee homogenous groups
Option B- Available for all groups
Kindly refer to the below table for the detailed eligibility criteria for this plan:
| Parameter | Details |
|---|---|
| Entry Age1 (years) | 15 - 79 (Employer-Employee groups) 15 - 65 (Other groups) |
| Maturity Age1 (years) | 16 - 80 (Employer-Employee groups) 16 - 66 (Other groups) |
| Premium Payment Term | Single Pay Regular Pay – 1 to 40 years |
| Policy/Coverage Term | 1 to 40 years |
| Payout Period | 1-20 years (12-240 months) |
| Premium Payment Mode | Single, Monthly#, Quarterly, Half Yearly & Yearly |
| Premium Modal Factor | Half Yearly – 0.510, Quarterly 0.258, Monthly – 0.087 |
| Pay Out Options | Lump Sum / Annual Income / Monthly Income / Lump Sum plus Annual Income / Lump Sum + Monthly Income |
| Minimum Group Size | 10 Members for Employer Employee Groups 50 Members for other Groups |
1All ages are as of last birthday
#Monthly mode is available for Standing instruction/direct debit options (including Electronic Clearing System (ECS), and Automated Clearing House (ACH))
Disclaimer:
PNB MetLife – Group Protection Plan (UIN: 117N140V01) is a Group Non-Linked Non-Participating Pure Risk Premium Life Insurance Plan
AD-F/2025-26/600RELATED GROUP PLANS
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As your trusted life insurance partner, PNB MetLife covers COVID-19 claims. In the event of a death claim, please submit a signed claim form mentioning the policy number, a brief description of the insured event, and all other mandatory claim documents to the email addresses provided below. You may write to us at claimshelpdesk@pnbmetlife.com or indiaservice@pnbmetlife.co.in. For death claim intimation or any queries, you can also call us at 1800-425-6969 (for customers calling from within India only), Monday to Saturday, between 10:00 am and 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 Plans, Term Plan, Protection Plans, Long Term Savings Plans , Retirement Plans & Child Education Plan.
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