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    1 Cr Term Insurance Plan

    Protect your loved ones through the Circle of Life.

    Over the past two decades, we have catered to many Indian families. We have a deep & rich understanding of your unique needs, plans and life goals. We are proud to present to you & your family our thoughtfully crafted plans, for their financial wellbeing.

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    Protect your loved ones

    Term Insurance Plans

    Life is full of uncertainties. The COVID-19 pandemic has taught us that anything can happen to us at any time. Hence, we all need the assurance of term insurance plans to ensure that our loved ones continue to live peacefully even if something happens to us.

    A 1 crore term insurance plan provides you a life insurance cover of ₹1 crore. This amount is paid to your nominee in the case of your death during the policy term. A 1 cr term insurance plan works like a guardian for your family members and helps them meet their financial needs even if you’re not there to support them. 

    What are the Top Benefits of Buying a 1 Crore Term Insurance Policy?

    • Financial stability: A 1 crore term insurance policy provides you with a life cover and ensures financial stability for your family members in your absence.
    • High sum assured: The sum assured of ₹1 crore can be used for various purposes, such as meeting daily living expenses, paying for a child’s education and marriage, clearing off loans and debts, etc.
    • Age: The minimum entry age for 1 crore term insurance is 18 years, and the maximum entry age is 60 years.
    • Low premium: A term plan is the cheapest way to get 1 crore life insurance cover. The premium for your 1 crore term insurance policy remains fixed throughout the policy term.
    • Riders: You can purchase additional riders with your 1 crore term insurance policy to manage your expenses in the case of your accidental death, disability, critical illness, serious illness rider, etc.
    • Tax benefits: With the premium you pay towards your 1 crore term life insurance policy, you can avail of tax benefits up to 1.5 lakh under Section 80C of the Income Tax Act, 1961. The death benefit is also tax-exempt under Section 10(10D).

    How to Apply for 1 crore Term Insurance Step by Step?

    You can buy your 1 crore term insurance plan from the convenience of your home or office. Below is the step-by-step guide for purchasing our 1 cr term insurance policy online:

    •  Step 1 – Visit the “Term Insurance Plans” page on our website
    •  Step 2 – Select the best term insurance plan for yourself and click the “Buy Now” button
    •  Step 3 – Use our PNB MetLife calculator to calculate the premium for term insurance of ₹1 crore
    •  Step 4 – If you’re happy with the quote, click on “Proceed”
    •  Step 5 –Enter your basic details to make an online premium payment.

    Our Best Term Insurance Plans

    • Mera Term Plan Plus

    With the PNB Mera Term Plan Plus , you have the option to opt for protection against death, disability, and disease.  There are three options:·        

    • Life: This provides cover against death.·       
    • Life Plus: This provides cover against death and terminal illness. Moreover, all the future premiums will be waived off in case of accidental permanent disability or on the diagnosis of any of the listed critical illnesses.
    • Life Plus Health Insurance Benefit: This provides cover against death and terminal illness.  Moreover, all the future premiums will be waived off in case of accidental permanent disability or on the diagnosis of any of the listed critical illnesses. In addition, you will receive an accelerated lump sum on the diagnosis of any of the listed critical illnesses. 

    This plan includes Return of Premiums and spouse coverage and cover enhancement options, which include benefits like Life-stage sum assured Benefit, Step-up Sum Assured Benefit, and Child Education Support Benefit. These benefits are available on payment of extra premiums.  

    Best Riders for Your 1 Crore Term Insurance Plan

    You can attach several riders to your PNB MetLife 1 crore term insurance plan. These riders enhance the coverage of your life insurance policy and ensure financial protection against a range of emergencies. The riders that you can include are:     

     

     

     

    Premium Payable for Term Insurance Plans

    Age (years) (Non-smoker/Male) (Smoker/Male) (Non-smoker/Female) (Smoker/Female)
    - Rs(₹) Rs(₹) Rs(₹) Rs(₹)
    20 ₹7100 (40-year Term) ₹9500 (40-year Term) ₹6700 (40-year Term) ₹8900 (40-year Term)
    30 ₹9600 (30-year Term) ₹13300 (30-year Term) ₹8200 (30-year Term) ₹11100 (30-year Term)
    40 ₹15500 (20-year Term) ₹22100 (20-year Term) ₹12300 (20-year Term) ₹17200 (20-year Term)
    50 ₹26600 (10-year Term) ₹38100 (10-year Term) ₹21200 (10-year Term) ₹30300 (10-year Term)
    60 ₹61700 (15-year Term) ₹89900 (15-year Term) ₹49900 (15-year Term) ₹72700 (15-year Term)

    The sum assured for the premiums mentioned above is ₹1 crore. The premiums are exclusive of taxes and calculated according to the regular premium payment mode. No riders have been included.

    What is the Eligibility for Buying a 1 Crore Term Insurance Plan in India?

    The minimum entry age for buying a 1 crore term insurance policy in India is 18 years, and the maximum entry age is 60 years annum. The minimum educational qualification required is 12th pass and above. Also, the minimum income criteria are ₹3lakh per annum for salaried and professional individuals like doctors, chartered accounts, etc., and ₹5 lakh for self-employed or business individuals.

    What are the Documents Required to Apply for 1 Crore Term Insurance?

    Below is the list of documents you need to submit while buying a 1 cr term insurance policy
    from PNB MetLife:   

    1. Proof of identity
    2. Proof of age
    3. Proof of address
    4. Proof of income
    5. Medical documents
    6. Latest photograph

    Why Should You Opt for a 1 Crore Term Plan?

    Before buying a term plan, it’s prudent to determine the exact coverage you may need. Below are the reasons you should opt for a 1 crore term insurance plan:·        

    • Inflation: ₹1 crore might seem like a humongous amount at present. However, if you factor in the constantly increasing inflation rate, you will understand that this amount is necessary for the adequate financial protection of your family.
    • Liabilities: If you’re the sole earning member of your family, it’s essential to get a 1 cr term plan to cover all your financial liabilities. It will ensure that the burden of paying off your loans and debts doesn’t fall on your family after your death.   
    • Additional benefits: A 1 cr term plan offers several additional benefits to the policyholder. For example, you can extend the policy term up to your lifetime and choose to receive the policy benefits as a lump sum or regular pay-outs.

    How to File a Claim for the 1 Crore Term Plan? 

    At PNB MetLife, the claim process is very simple and hassle-free. You can register your claim by clicking here. For any claim-related queries, you can contact us at our toll-free claim helpline number 1800-425-6969. You can also get in touch by writing to us at claimshelpdesk@pnbmetlife.com

    Why is PNB 1 Crore Term Insurance Best for You?

    Below is what makes PNB MetLife’s 1 crore Term Life Insurance Plan the best choice for you:  

    • Some of our best 1 cr term insurance plans cost less than ₹1000 per month. You can  use our online term plan premium calculator to determine the exact amount you need to pay for your 1 crore term insurance policy.
    • A strong network of over 15,000+ branches across the country, serving more than 200+ million happy customers.
    • As one of India's few profitable life insurance companies, PNB MetLife is a strong and trusted name in India's insurance market.

    What do Term Insurance Plans provide?

    Frequently Asked Questions

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    What is 1 cr term insurance?

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    A 1 cr term insurance plan is a policy that provides life insurance cover of ₹1 crore to the policyholder. This sum assured is paid to the nominee in the case of the policyholder’s death during the policy term.

    Who should opt for a 1 crore term plan?

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    A 1 cr term plan is ideal for those who have many dependents and are the sole earning members of their families. In addition, individuals with huge debts or loans such as home loans or educational loans should also opt for a 1 cr term plan to cover their liabilities.

    What is the premium to get 1 cr term insurance?

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    The premium amount for a 1 cr term insurance policy depends on the policyholder’s age, smoking habits, and medical condition. You can use our term plan calculator to know the approximate premium for your 1 cr term insurance policy.

    What is the claim settlement ratio for a 1 crore term plan?

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    The claim settlement ratio is the ratio of the total number of claims settled by a company to the total number of claims filed by its customers. PNB MetLife has a claim settlement ratio of 98.17% for term insurance plans.

    What is the age limit required for buying 1 crore term insurance?

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    The minimum entry age for buying a 1 crore term insurance policy is 18 years, and the maximum entry age is 60 years. 

    What amount of income do you require to apply for a 1 cr term insurance plan?

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     Financial eligibility for the 1 cr term insurance plan will be dependent upon the earned income. The sources of earned income include salary, commission, bonuses, and business income. Generally, the earned income will not include rental income, pension, investment income, and rental income. The minimum income criteria are ₹3lakh per annum for salaried and professional individuals like doctors, chartered accounts, etc., and ₹5 lakh for self-employed or business individuals.

    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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