Benefit from interest on each contribution.
Fund Based Group Non-Linked Variable Insurance Scheme | UIN: 117N085V02
When you extend financial security to your employees and their families through employee insurance, this may turn out to become a huge motivational factor for an employee to continue with the company. This group life insurance plan fits right into the bracket of providing financial security to employees and helps retain key talent acting as an Employee benefits plan.
What you get
On Death / Retirement / Resignation / Termination
The benefit payable from the Fund will be as specified in the Trust Deed as per the Rules of the individual Employer’s/Trustee’s Scheme. The company’s liability is limited to the extent of the Fund Value.
What you don’t get
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.
The benefit payable from the Fund will be as specified in the Trust Deed as per the Rules of the individual Employer’s/Trustee’s Scheme. The company’s liability is limited to the extent of the Fund Value.
If the exit of the member from the Scheme is due to death, the risk cover benefit of Rs.1000 will be payable by the Company and no Market Value Adjustment will be made.
In case of complete withdrawal of the Scheme before completing third year, the Surrender Value will be equal to the Fund Value of the Scheme minus the Surrender Charges minus the Market Value Adjustment (MVA).
Particulars | Boundary Conditions |
---|---|
Minimum age at entry |
18 years age as per last birthday |
Maximum ages at entry |
1 year less than the ‘Normal Retirement Age’ defined in the individual Employer’s Scheme Rules. |
Maximum Maturity Age |
The ‘Normal Retirement Age’ as defined in the individual Employer’s Scheme Rules. |
Minimum / Maximum Contribution |
Rs.100,000 / Rs.500 Crore |
Minimum Group size |
Minimum group size is 10 |
Maximum Group size |
No Limit |
Minimum Policy Term |
Yearly renewable basis |
You can purchase this plan offline in any of the following three ways:
Disclaimer:
AD-F/2020-21/00342
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.