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PNB Met Suraksha-Term Assurance with Return of Premium (TROP)

Eligibility  
Entry Age (years)  
Minimum 18
Maximum 50
Maximum Maturity Age (years) 65
Policy Term (years)  
Minimum 15
Maximum 20
Sum Assured (Rs)  
Minimum 200000
Maximum No limit
Premium Payment Frequency Single, Yearly, Half-Yearly, Quarterly, Monthly
Premium Payment Term Single, Limited-3 year pay, equal to policy term
Premium Factor (multiply with annual premium) 0.5131 for Half-Yearly, 0.2605 for Quarterly, 0.0886 for Monthly and 0.0868 for Payroll Savings Program
Policy Cover Cover remains fixed for the tenure of the policy
Other Features  
Free Look Cancellation In 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 Period You 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 Reinstatement You 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 Benefits Section 80C, 10(10D) of the Income Tax Act, 1961 would apply. Premiums paid for Critical Illness Rider may qualify for deduction under Section 80D of the Income Tax Act, 1961.
Exclusions In 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
Paid Up Value If policyholder due to any reason fails to pay premium, the policy does not lapse. It continues at ' Reduced Paid up Value' provided premiums for first three policy years have been paid on time. Reduced Paid Up Value = (No. of premiums paid / Total no. of premiums payable) x face amount.
Maturity Value Basic premiums exclusive of rider premiums or extra premiums paid if any on survival at maturity.
Surrender Value Regular Premium
= 30% x premiums paid including policy fee and excluding first year premium, extra premiums and rider premiums, payable at the end of 3rd year
Single Premium
= 90% x single premium including policy fee and excluding extra premiums and rider premiums; payable at the end of 2nd year
Limited Pay
= 80% x premiums paid including policy fee and excluding first year premiums, extra premiums and rider premiums; payable at the end of 3rd year
Customer Service  
Address MetLife India insurance Company Limited
Registered Office: Brigade Seshamahal, 5, Vani Vilas Road, Basavanagudi, Bangalore - 560004
Mail To indiaservice@metlife.co.in
Call On 1800 425 6969 or +91 080 26438638 from 8 am to 8 pm
SMS Protect' to 5676769
Additions to the Plan  
Available Rider(s) Accidental Death Benefit: Death due to accident within 180 days of accident.
Critical Illness Benefit: It covers 10 critical illnesses namely: Heart Attack, Stroke, Cancer, Surgery to coronary arteries, Kidney failure, Major organ transplant, Aorta surgery, Blindness, Heart valve replacement and Paraplegia. There is a waiting period of 90 days from the date of issue to avail the benefit and a survival period of 30 days after confirm diagnosis of the illness.
Rider Conditions  
Entry Age (years)  
Minimum 18
Maximum 55
Maximum Maturity Age (years) 60
Sum Assured (Rs)  
Minimum 50000
Maximum Lower of Base plan insurance or 10 lakh
Rider Premium (Rs) Rider premiums vary for each policyholder. For instance, if a 30-year old opts for the Accidental Death rider for Rs 5 lakh sum assured over a 10 year tenure; the annual rider premium works to Rs711 and Rs 1004 in case of Critical Illness Rider.