PNB MetLife Mera Term Plan Insurance Specification

PNB MetLife Mera Term Plan

PNB MetLife Mera Term Plan does give you the flexibility to customize the protection plan and choose from four payout options and also offers coverage for your spouse in the same policy. When it comes to our family, we always want to be double sure. We want to give them the best of everything that life has to offer and strive hard to help them fulfill their dreams. However, it is also important to ensure that you loved ones are secure, financially independent and have the same lifestyle even in your absence. Also, your child’s education should not be compromised when you are not around.

PNB MetLife Mera Term Plan Product Benefits

PNB Metlife Mera Term Plan is a customizable protection plan which gives you the flexibility to choose from four payout options and also offers coverage for your spouse in the same policy.

Full Lump Sum Payout

Payout as Lump Sum + Regular Monthly Income
Payout as Lump Sum + Increasing Monthly Income
Payout as Lump Sum + Regular Monthly Income till child turns 21

There are some additional Features as with PNB MetLife Mera Term Plan which is with the choice of base Sum Assured and Policy Term you can also choose additional features. These will give you additional benefits in case of certain events during your lifetime.
Joint Life Benefit

What is Joint Life Benefit – This is a unique benefit that ensures your better half continues even if you are not there. All the future premiums for your partner’s cover will be waived off which is the very nice thing in Joint Life Benefit. This option is available if your sum assured is more than 50 lacs. Coverage for the partner is limited to 50% of your sum assured (max limit – 50 lacs). If your partner is a homemaker a 25 lac cover is provided.
Life Stage Protection

PNB MetLife does understand the stages of life. Therefore, they also added one more feature in this PNB MetLife Mera Term Plan. Your required life cover increases with increasing responsibility. Life stage protection option gives you an opportunity to buy an additional cover as per the then prevailing age and premium without any medical examination on the following circumstances.

On Marriage : Equal to 50% of the original cover subject to the maximum of Rs. 5,000,000.
On first child : Equal to 25% of the original cover subject to the maximum of Rs 2,500,000.
On Second child: Equal to 25% of the Original cover subject to maximum of Rs 2,500,000.

PNB Mera Term Plan

Eligibility for MetLife Mera Term Plan

Particular

Boundary Conditions

Minimum Age

18 Years

Maximum Age

65 Years

Maturity Age

75 Years

Minimum Sum Assured

10,00,000

Coverage Period

10-40 Years

Premium Payment Term

Coverage Period

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