Group Flexi Term Plus - Insured Protection For Families

Name: PNB MetLife Group Flexi Term Plus
Brand: PNB MetLife
Rating: 4.5 (12119 reviews)

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PNB MetLife Group Flexi Term Plus is a comprehensive group insurance policy that offers coverage against Death, Accidental Death, Disability, Critical Illness, and Terminal Illness to the insured members and protects their families from the burden of financial liabilities. This product is suitable for employer-employee groups, non employer-employee groups, and non-employer-employee homogenous groups as it helps meet the organization’s aims of providing protection to their customers, employees, and group members. PNB MetLife Group Flexi Term Plus is a flexible product that can be customised by the organization to meet the specific requirements of the group.

PNB MetLife Group Flexi Term Plus in a nutshell

Multiple Coverage Options
Joint Life Cover
Flexibility to choose your cover term
Flexibility to choose your Benefit Payout

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What you get

Choice of 5 Benefit Options

Get to choose among Life cover, Extra Life cover, Life and Health cover, Extra Life and Health cover, and Accidental Cover.

Payout Flexibility

Choose to receive your benefits as a lumpsum, monthly income over 2 – 10 years, or as a combination of both.

Joint Life Coverage

Joint life cover option has two variants and it may be taken at inception of the cover for a maximum of two lives only.

Non-Forfeiture Benefit

For single premium policies, we shall pay the unexpired premium value if the policy is voluntarily closed or terminated during the policy term.

Critical Illness Coverage

The plan provides coverage equal to the Sum Assured upon the first diagnosis of any of the specified 35 critical illnesses.

PNB MetLife Group Flexi Term Plus provides:

Single Life and Joint Life Coverage
Multiple Coverage Options to choose from
Flexibility to choose cover term ranging from minimum 1 month to 40 years
Flexibility to select Benefit Payout Options like Lumpsum, Monthly Income, Lumpsum Plus Monthly Income.
Choice of Level or Increasing/Decreasing Cover

What you don't get

Suicide Exclusions

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 total premiums paid in respect of the insured member till the date of death or the unexpired premium.

Critical Illness Exclusions

This plan does not cover medical conditions that fall under our list of exclusion criteria. Kindly check the sales brochure for a detailed list of exclusions under critical illnesses.

Accidental Death Exclusions

This plan does not cover accidental death caused due to participation in hazardous or competitive sports, attempted felony, riots, illegal use of stimulants etc. Kindly check the sales brochure for a detailed list of exclusions under accidental death.

Frequently Asked Questions

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What are the coverage options offered under PNB MetLife Group Flexi Term Plus?

PNB MetLife Group Flexi Term Plus offers a choice of 5 coverage options. Refer to the below table for an overview:

Plan Option	Death Benefit	Accidental Death Benefit	Accidental Total & Permanent Disability	Critical Illness Benefit	Terminal Illness Benefit
Life Cover	✓	X	X	X	X
Extra Life Cover	✓	✓	X	X	X
Life and Health Cover	✓	X	X	✓	✓
Extra Life and Health Cover	✓	✓	X	✓	X
Accidental Cover	✓	✓	✓	X	X

What is the Sum Assured offered for this plan?

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

What is the Joint Life Coverage option?

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

What are the Benefit Payout Options?

Flexible payout options are offered as below:

Lumpsum - Benefit payable as lumpsum
Monthly Income - Benefit payable as level monthly income for 24-120 months (2-10 years)
Lumpsum Plus Monthly Income - 50 % of the benefit payable in lumpsum and the rest 24-120 months (2-10 years) in equal monthly installments

Benefit Payout Option needs to be chosen at the inception of the cover and cannot be changed later.

Who is eligible to purchase this plan?

Kindly refer to the below table for the detailed eligibility criteria for this plan:

Parameter

Details

Entry Age¹

Life Cover: Min-Max: 15-79 (Employer-Employee groups)
Min-Max: 15-65 (Other groups)
Other Cover Options: Min-Max:18-65

Cover Ceasing Age¹

Life Cover: 80 (Employer-Employee groups)
66 (Other groups)
Extra Life Cover: 75 (Employer-Employee groups)
66 (Other groups)
Other Cover Options: 70 (Employer-Employee groups)
66 (Other groups)

Premium Payment Term

A choice of Premium Paying Term is available to the Master Policy Holder depending on the Nature of the Groups

PPT	Employer Employee Groups	Non-Employer Employee Groups	Non-Employer Employee Homogenous Groups
Single	Yes	No	Yes
Regular	Yes	Yes	Yes

Policy/Coverage Term

Single Pay: 1 Month to 40 Years
Regular Pay: 3 Month to 40 Years

(Min.Policy term for "Life and Health Cover" and "Extra Life and Health Cover " would be 6 months for Single Pay as well as Regular Pay)

Premium Payment Mode

Single, Monthly, Quarterly, Half Yearly & Yearly

¹ All ages are as of last birthday

Please refer to Product Applicability Grid in Sales Brochure to check for the restrictions

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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 Group Flexi Term Plus, Group, Non-linked, Non-Participating, Pure Risk Life Insurance Plan | UIN: 117N127V02
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding any sale.

AD-F/2024-25/731