Non-linked, Non-Participating, One Year Renewable Term Insurance | UIN: 117G094V01
Launched by the government to protect its citizens, the PNB MetLife Pradhan Mantri Jeevan Jyoti Bima Yojana is a non-linked, non-participating, one-year renewable term insurance plan designed to meet all the life insurance coverage requirements.
What you get
Death Benefits
A.With the PNB MetLife Pradhan Mantri Jeevan Jyoti Bima Yojana, death Benefits are payable across all bank accounts and insurance companies up to. Rs. 200,000.
B. In case a member is covered with multiple insurers through a single/multiple bank accounts and premium is received in respect of all covers, the insurance cover will be restricted upto Rs.2,00,000 by admitting a claim on the first application based on the date of enrolment.
Death by Suicide
Under this plan, Benefits are payable even in the case of suicide.
Waiting Period
Death Claim settled by another InsurerIn
case a death claim has been settled by any other insurer in respect of any insured member, PNB Metlife shall not have any liability to admit any claim on the member and shall forfeit the premiums in respect of the said deceased member.
What you don’t get
Maturity Benefit
No survival or maturity Benefit is payable under the PNB MetLife Pradhan Mantri Jeevan Jyoti Bima Yojana.
Incompletion of Waiting Period
Under this plan, the company will not be liable to make Benefit payment under the policy if the death occurs during a waiting period of 30 days for reasons other than accident.
Suicide Exclusions
If the Life Assured’s death is due to suicide within twelve months from the date of commencement of risk or from the Date of Revival of the Policy as applicable, the Nominee or beneficiary of the Policyholder shall be entitled to 80% of the total Premium paid till the date of death under the Policy death or Surrender Value available as on the date of death, whichever is higher, provided the Policy is in Inforce status. We shall not be liable to pay any interest on this amount.
This is a non-linked, non-participating, one year renewable term insurance plan. This product has been designed to meet the life insurance coverage requirements under the provisions of “Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)” scheme launched by Government of India.
In the unfortunate event of the death of the insured member during the period of cover, the sum assured will be paid. Death due to any clause is covered (including suicide) under this product.
A Death Benefit of Rs. 200,000 shall be payable to the nominee /beneficiary or legal heir on the death of the Insured member during the policy term and subject to the following:
The Company will not be liable to make Benefit payment under the policy if the death occurs during a waiting period of 45 days for reasons other than accident.
Waiting period applies at individual member level from the member’s date of joining. The waiting period applies only once upon 1st time enrolment in the scheme from any insurer and is not re-imposed again upon continuous renewal of cover.
Particulars |
Boundary Conditions |
Age at entry |
Minimum: 18 years (age last birthday) |
Maximum maturity age |
55 years (age nearer birthday) |
Policy term |
1 year, on yearly renewable basis |
Sum assured |
Rs.200,000 |
Premium amount |
Rs. 330 per Annum per member |
Type of Cover |
Voluntary participation, based on good health declaration |
Maturity/Surrender |
No benefits payable |
Disclaimer:
AD-F/2020-21/00339
Rs. 930 Crores
Bonus declared for Participating Policies in FY’23-24
2.35 Lakh+
transactions completed on the khUshi chatbot.
99.20%
Claim settlement ratio for retail business
16500
Locations & strong branch network
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 Plans, Term Plan, Protection Plans, Long Term Savings Plans , Retirement Plans & Child Education Plan.
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