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    PNB MetLife Complete Loan Protection

    Loan secured, happiness assured!

    Group Non-Linked Non Par Pure Risk Life Insurance Plan | UIN: 117N104V02

    PNB MetLife Complete Loan Protection is a Group Non-linked, Non-participating Pure Risk Life Insurance Plan. It is a group credit product and it is offered to cover the loan of customer of an institution.

    PNB MetLife Complete Loan Protection Plan in a nutshell
    • Multiple coverage options.
    • Level or reducing cover option.
    • Joint life cover.
    • Flexibility in premium payment options
    • Income Protection for your family, when you are not around
    • Suited for employer-employee & non-employer-employee groups

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    What you get

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    Frequently Asked Questions

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    What is PNB MetLife Complete Loan Protection?

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    Presenting PNB MetLife Complete Loan Protection – is a group insurance product offering comprehensive coverage against death, disability, critical illness and terminal illness to the insured member(s) and protects their families from the burden of financial liabilities.

    The product is suitable for employer-employee group, non-employer-employee groups where the group policyholder aims to provide protection to their members.

    What are the Key Benefits of this plan?

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    • Multiple coverage option
    • Joint Life cover
    • Level/reducing cover option
    • Choice of Monthly Income or Lumpsum option

    What are the Death Benefits of this plan?

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    i. Option 1- Life Protection
    100% of the Sum Assured will be provided on occurrence of Death

    ii. Option 2 - Life Protection Plus
    100% of the Sum Assured will be provided on first occurrence of Death or diagnosis of listed Terminal Illness.

    iii. Option 3 - Accidental Safeguard
    200% of the Sum Assured will be provided on occurrence of death due to accident & 100% of the Sum assured will be provided on occurrence of death (other than accident)

    iv. Option 4 - Critical Illness Safeguard
    100% of the Sum Assured will be provided on first occurrence of Death or diagnosis of listed Critical Illness

    v. Option 5 - Disability Safeguard
    100% of the Sum Assured will be provided on first occurrence of Death or Accidental Total and Permanent Disability

    Joint Life option is applicable only for Life Protection, Life Protection Plus and Accidental Safeguard.

    What are the Maturity Benefits of this plan?

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    There is no Benefit payable on survival till the end of policy term.

    What are the eligibility criteria for this plan?

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    Plan parameters Minimum Maximum

    Age at entry of Person Insured

    14 years (for education loans)
    18 years (for all other loans)

    Life Protection & Life Protection Plus: 75 years
    Accidental Safeguard, Critical Illness Safeguard & Disability Safeguard: 65 years

    Policy Term

    Single Pay
    Life Protection, Life Protection Plus & Accidental Safeguard:  1 Month

    Critical Illness Safeguard & Disability Safeguard: 6 Months

    Limited Pay : 6 Years

    Regular Pay: 5 Years

    Life Protection & Life Protection Plus: 40 years (subject to maximum maturity age being less than or equal to 80 years)


    Accidental Safeguard & Disability Safeguard: 40 years (subject to maximum maturity age being less than or equal to 75 years)

    Critical Illness Safeguard:
    30 years (subject to maximum maturity age being less than or equal to 75 years)

    Regular Pay: 5 Years

    Group Size

    50 lives

    No limit

    Sum Assured per member

    Rs. 5,000

    No limit

    Premium

    Based on chosen Sum Assured

    Premium Paying Options

    Single pay, 5 pay

    Premium Paying Modes

    Yearly, Half-yearly, Monthly (5 Pay)

    1All references to Age are as on age last birthday

    How can I buy PNB MetLife- Complete Loan Protection Plan?

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    You can purchase this plan through any of the following methods:

    Disclaimer:

    PNB MetLife – Complete Loan Protection Plan (UIN: 117N104V02) is a Group, Non-linked, Non-participating, Pure Risk Premium, Life Insurance Product. It is offered on the group platform. Benefit option, chosen at inception, cannot be altered during the term. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. 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/2021-22/124

    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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