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PNB MetLife expresses its sincere condolences to the aggrieved families of victims of the recent natural calamity that has hit the Jammu and Kashmir State. For claims assistance, please click here.
 
 
  KNOWLEDGE CENTER
FAQ - NRI

Who is an NRI?

Persons of Indian nationality or origin and who reside outside India are Non-Resident Indians (NRI). The various categories of NRIs are as follows:

1. Indian citizens who stay abroad for employment, business, vocation or for any other purpose in circumstances indicating a definite intention to stay outside India for an indefinite period.
2. Indian citizens working abroad on assignment with foreign governments or international agencies.
3. Officials of Central and State Governments and Public Sector undertakings deputed abroad on temporary assignments or posted to their offices abroad.
4. Indians who have settled abroad permanently or gone abroad on immigration.

Non-resident Indians become residents of India when they return to India for employment or for business, vocation or for any other purpose indicating a definite intention to stay in India for an indefinite period. However, during their short visits to India for holidays or business, non-residents are not to be regarded as persons ordinarily resident in India.

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Can NRIs invest in Life Insurance policies?

NRIs can invest in Life Insurance policies issued by Insurance companies registered in India. The policies are Rupee denominated and the premiums and claim amounts are payable in Indian Rupees.


Investments by NRIs in Life Insurance policies in India are governed by the regulations issued by the Reserve Bank of India (RBI).

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What are the requirements to apply for Life Insurance?

Completely filled and signed application form
.
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Premium payment instrument.
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Benefit Illustration (BI) - Every NRI application form must be accompanied with a self- attested illustration for the insurance product being purchased.
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Premium Calculator sheet.
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NRI questionnaire.
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Risk profiler.
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Unit-Linked declaration.
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The following self attested supporting documents are required:
1. Passport copy – will act as an ID proof & age proof.
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2. Bank Account Proof (NRE/NRO)- Cheque copy of the account.
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3. Photograph – a  recent passport size photograph, less than 6 months old.
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4. Address proofs document for:
Mailing Address – Can be an Indian address or the current NRI residence address.  Proof for the same should be submitted as per the AML residence proof guidelines.
Permanent Address - Mentioning the permanent address is a mandatory requirement and should be accompanied with a proof for the same.
It should be an Indian Address only.
The passport can be used as an address proof as long as the address filled in the application form is the same as the address mentioned in the passport. Else, another document needs to be submitted as address proof (as per the AML guidelines).

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5. Income proof, if required.

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What are the available renewal payment frequency options?

The payment frequency options available to the NRI customers are:
1. Annual.
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2. Semi-Annual
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3. Quarterly
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4. Monthly – only possible with an ECS or Auto Debit (Auto Debit is currently available with Axis Bank only)


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What are the premium payment (mode) options available?


1.Net Banking
Online premium payment enables you to make renewal premium payments towards the policies through our website.
To avail this facility, you need to choose the ‘
Pay your Premiums Online’ option. Payment options for renewal premium payment are:

(1)
Credit Card
- Master Card
- Visa Card
- Diners Club International Card
- American Express Card


(2) Net Banking
Banks for which Net Banking facility is available are:

- ABN Amro Bank
- Axis Bank
- Bank of Baroda – Retail
- Bank of Baroda – Corporate
- Bank of India
- Centurion Bank
- Corporation Bank
- City Union Bank
- HDFC Bank
- ICICI Bank
- IDBI Bank
- IndusInd Bank
- Indian Overseas Bank
- Karnataka Bank
- Kotak Mahindra Bank
- Oriental Bank of Commerce
- Punjab National Bank – Retail
- Punjab National Bank – Corporate
- State Bank of India
- South Indian Bank
- Union Bank of India
- Yes Bank

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2. Payment through Credit Card

You may use the convenience of an International Credit Card (Mastercard, Visa Card, Diners Club International Card & American Express Card) to make the premium payments. You need to submit the Credit Card Standing Instruction Form along with a clear photocopy of the front side of the Credit Card. The form can be submitted at the NRI SPOC office or mailed to us at our communication address.

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3. Cheque / Demand Draft

If you opt to pay the premiums through cheques, the cheque needs to be drawn in favor of "PNB MetLife India Insurance, Policy Number xxxxxxxx". You need to mention your name and contact number on the reverse of the cheque.

In case you choose to make the premium payments through demand drafts, the demand draft needs to be drawn in favor of "PNB MetLife India Insurance” payable at Delhi. You need to mention the name, policy no & contact no on the reverse of the demand draft.

Please note, only cheques and demand drafts in Indian rupee denominations will be accepted.

The premium cheques can either be submitted at our NRI SPOC office or mailed to our communication address.

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4. Electronic Clearance System (ECS)
ECS is an automated facility which debits the premium from the bank account specified, on the premium due date. In case of the premium due date falling on a holiday, the premium amount would be deducted on the next working day. Premium payment for ECS locations under the Non-rolling settlement category may not be deducted on the premium due date. This is applicable for all active (in force) policies.

To avail this facility, you have to submit the ECS form along with a cancelled cheque.

Please note that the ECS facility can be availed only through NRE / NRO accounts & premium will be debited in Indian currency only.

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5.
Auto Debit through Axis Bank
You can make payments by directly remitting money from your Axis Bank NRE / NRO account. To avail this facility, you have to submit the Auto Debit Standing Instruction Form along with a cancelled cheque.

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When does a policy lapse?


A policy lapses when the policy holder fails to pay the premiums even within the grace period. In this case, all benefits under the policy are lost.  The policy can be reinstated by submitting a request for reinstatement in writing along with the required documentation and paying all the due premiums (till the reinstatement date). Please refer to the product specific T&C for exact guidelines on lapsation.


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How can I get information on my policy?

By calling the NRI SPOC.
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By sending an e-mail to
nriservices@metlife.com
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Through the Policy Information Portal (PIP) on the PNB MetLife India Website.

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By calling the India call center:
MTNL/BSNL:1-800-425-6969 and all others: +91-80-2650-2244 (8 am - 8 pm) or on our International Toll-Free No.
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Writing a letter to the attention of the Customer Support Team at PNB MetLife India.


Our address:
PNB MetLife India Insurance Company Ltd
Brigade Seshamahal
5, Vani Vilas Road
Basavangudi
Bangalore - 560004

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By sending a fax to PNB MetLife India HO @ +91-80- 2652 1970.

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How will the fund value be determined for Unit Linked plans?

The fund value in the Unit Account will be determined using the Net Asset Value on the corresponding Valuation Date falling on or immediately after the Date of Receipt of request at nriservices@metlife.com.


The rules in this regard are as follows:

If the request is received before 1500 hrs on a business/working day, the corresponding valuation date is the same business/working day.
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If the request is received after 1500 hrs on a business/working day, the corresponding valuation date is the next business/working day.

If there is no valuation done on a business/working day, then the above mentioned valuation date is the date when the next valuation is done. The company reserves the right to change the above rules on the calculation of fund value in the Unit Account by sending a 15 day advance intimation (with prior clearance from Insurance Regulatory and Development Authority).

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How can I intimate PNB MetLife India about a claim?


The claims may be intimated to PNB MetLife through any of the following modes:

By sending an e-mail to claimsindia@pnbmetlife.com.
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By calling the India call center
MTNL/BSNL:1-800-425-6969 and all others: +91-80-2650-2244 (8 am - 8 pm) or on our International Toll-Free No.
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Writing a letter to the claims team at PNB MetLife India HO.
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By sending a fax to PNB MetLife India HO.

It is mandatory to submit a written intimation along with the death certificate. It is also mandatory to mention your email ID on the intimation letter.

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What are the documents required to process a death claim?

The following primary documents are required for processing a Death Claim request for a Met Advantage Plus – Option B:

a) Original policy document.
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b) Death certificate in original/copy attested by Indian Embassy/High Commission abroad.
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c) Claimant statement.
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d) Photo ID proof of the Nominee  - needs to be attested by Indian Embassy/High Commission abroad, incase the nominee is an NRI.
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e) Age proof of the Nominee - if nominee is spouse.

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f) Application Form for immediate annuity along with ECS mandate.
If the nominee is a spouse and is aged 45 or above then he/she can purchase an immediate annuity out of the death benefit.

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How will the claims be paid?


Claims will be paid out by PNB MetLife India Insurance Co. Ltd. only in rupees by credit to NRE / NRO account of the nominee, if the same is a non-resident Indian. In case the nominee is an Indian, it can be paid in Indian currency via cheque or through direct credit to your Indian bank account.

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Customer helpline no. :
1800-425-6969 (Toll Free)
(Within India only)
OR 91-80-26502244
(8am – 8pm).

IVR available 24*7
with your policy details.
Fax : 080-41506969
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SMS MET HELP to 5607071
(Special SMS Charges Apply)
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PNB MetLife India Insurance Company Limited formerly known as MetLife India Insurance Co.Ltd.

Registered office address:Brigade Seshamahal 5, Vani Vilas Road, Basavanagudi, Bangalore - 560004,
Karnataka. CI No.: U66010KA2001PLC028883, Phone: 080- 66006969/26438638, Fax: 080-22421970.
Website: www.pnbmetlife.com, Email: indiaservice@pnbmetlife.co.in., IRDA Regn No.: 117
Insurance is the subject matter of the solicitation

The marks “PNB”, “” and “MetLife” are the registered trademarks of Punjab National Bank and Metropolitan Life Insurance Company, respectively. PNB MetLife India Insurance Company Limited is a licensed user of these marks