VR Logo

PNB Met Protect

Objective

This is an online term insurance policy that pays sum assured on unfortunate demise of the insured person.


What does it do?

This is a pure risk insurance plan which pays sum assured to the nominee in case of untimely death of the insured. The plan can be purchased online through company's website. The plan does not pay any maturity, survival or surrender benefit.


Pros

The plan can be purchased online at convenience.
Women and non-smokers can avail lower premium rates.
Premiums paid toward the policy qualify for tax benefits.


Cons

The premiums cannot be paid quarterly or monthly, but only annually or semi-annually.
Minimum sum assured is fixed at Rs 25 lakh.
The plan does not offer any riders for enhanced protection.


Suited for

A plain term insurance is a definite buy for everyone.


Our View

Term plans are the best kind of life insurance available. Anyone who is comfortable making online purchase and doesn’t need assistance in buying a policy can take this plan.

Eligibility
Entry Age (years) 
Minimum18
Maximum60
Maximum Maturity Age (years)70
Policy Term (years) 
Minimum10
Maximum35 for Regular Premium policies; 15 for Single Premium policies
Sum Assured (Rs) 
Minimum2500000
MaximumNo limit
Premium Payment FrequencySingle, Yearly, Half-yearly
Premium Payment TermSingle, Equal to policy term
Policy CoverCover remains fixed for the tenure of the policy
Other Features 
Free Look CancellationIn case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered.
Grace PeriodYou are allowed to pay premiums within 30 days of premium due date . If a due premium is not received within the grace period, your policy will lapse and the life insurance cover will be terminated.
Lapsed Policy ReinstatementYou may reinstate your lapsed policy within 3 years from date of first unpaid premium by paying due premiums and undergoing underwriting requirements, if any.
Tax BenefitsSection 80C, 10(10D) of the Income Tax Act, 1961 would apply.
ExclusionsIn case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable. Further, if the Life Assured under the policy, whether medically sane or insane, commits suicide, within one year of exercising the option to increase the Sum Assured, then the amount of increased Sum Assured will not be considered in the calculation of the Death Benefit
Customer Service 
AddressMetLife India insurance Company Limited
Registered Office: Brigade Seshamahal, 5, Vani Vilas Road, Basavanagudi,Bangalore - 560004
Mail To[email protected]
Call On1800 425 6969 or +91 080 26438638 from 8 am to 8 pm
SMSProtect' to 5676769
Annual Premium Option for Healthy Non-Smoker Male
Policy Term (in years)Age (in years)
2530354045505560
1038804120496066809880151202364038760
153880424053607720115601804028920NA
2039604600616090401384022000NANA
254200516071201072016720NANANA
3046005880832012800NANANANA
35512067609800NANANANANA
Figures indicate premiums on a Rs 40 lakh policy for an age over different policy tenures exclusive of service tax
Annual Premium Option for Healthy Non-Smoker Female
Policy Term (in years)Age (in years)
2530354045505560
1032803520420056808400128402008032960
15328036004560656098401532024600NA
2033604100524076801176018680NANA
25356044006040912014200NANANA
3039205000708010880NANANANA
35436057608320NANANANANA
Figures indicate premiums on a Rs 40 lakh policy for an age over different policy tenures exclusive of service tax
Single Premium Option for Healthy Non-Smoker Male
Policy Term (in years)Age (in years)
2530354045505560
102732030080382005372081160124840195560320000
1536360427605724084720128640201240321000NA
Figures indicate premiums on a Rs 40 lakh policy for an age over different policy tenures exclusive of service tax
Single Premium Option for Healthy Non-Smoker Female
Policy Term (in years)Age (in years)
2530354045505560
102324025560324804568069000106120166240272000
1530920363604864072000109360171040272840NA
Figures indicate premiums on a Rs 40 lakh policy for an age over different policy tenures exclusive of service tax

Learn the basics

The underlying data is not available.

Calculate SIP Returns