PNB MetLife Mera Term Plan Plus is a protection plan that provides you and your family with a comprehensive life coverage at a very nominal cost. The plan offers you flexibility to choose protection against Death, Critical illness, Disability and Terminal illness along with various additional options like spouse coverage & whole life protection. You can also customize your coverage with various cover enhancement options available under the plan.
1 Benefit Option
Terminal Illness Benefit
2 Waiver of Premium Benefit (ATPD/CI)
Accelerated Critical Illness Benefit
Life plus Health
All the three basic Benefit options are available with and without the Maturity Benefit.
2 All future premiums are waived off if the Life Assured suffers an Accidental Total permanent disability (ATPD) OR is diagnosed with any one of the 50 listed Critical Illnesses (CI) – whichever occurs first, subject to the maximum maturity age of Waiver of Premium benefit.
Cover Enhancement Options
The additional options “Spouse Coverage”, “Return of Premiums”, and “Cover enhancement options” will be available on payment of extra premiums.
4 Return of Premiums’ option needs to be selected at the inception of the policy and this option is not available if Child education support benefit is chosen.
5 The policyholder may choose only one out of the Cover Enhancement Options and is only available at inception
Why Choose Cover Enhancement Options?
Benefit Payout Options
About PNB MetLife
PNB MetLife is a joint venture between MetLife International Holdings LLC, Punjab National Bank Limited, Jammu & Kashmir Bank Limited, M. Pallonji and Company Private Limited, and other private investors. MetLife International Holdings LLC and Punjab National Bank Limited are the major shareholders in the company, which started operation in 2001 in India. PNB MetLife is an amalgamation of MetLife Inc’s financial know-how and Punjab National Bank’s distribution strength. MetLife Inc has served over 90 million customers in the last 140+ years, while Punjab National Bank has catered to over 80 million customers in the last 120 years.
^Maximum maturity age 99 years for all options (except Joint Life cover option/Life Plus Health Option). Life Plus Health Option/Joint Life Cover Option: 75 years (applicable for both Primary and Secondary life).
PNB MetLife Mera Term Plan Plus is an Individual, Non-linked, Non-par, Pure Risk Premium, Life Insurance Product (UIN: 117N126V01). Benefit option, chosen at inception, cannot be altered during the term. Please read the Sales brochure carefully before concluding any sale. This product brochure is only indicative of terms, conditions, warranties and exceptions contained in the insurance policy. The detailed Terms and Conditions are contained in the Policy Document. Tax benefits are as per the 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 to change from time to time. AD-F/2020-21/00284
6Age at Entry (yrs)
60 (55 if 'Pay till Age 60' is chosen as PPT)
Age at Maturity
Life, Life Plus : 99
Sum Assured (Rs.)
No limit, subject to Underwriting
Based on the Basic Sum Assured, Entry Age, Policy Term, Premium payment term, Smoker Status, Benefit Option, Cover Option and Return of Premium Option chosen
Premium Paying Term (yrs)
(Minimum allowed Policy Term for Limited pay option: Premium Payment Term plus 5 years)
Policy Term (yrs)
6 All Age as of last birthday