PNB MetLife Bima Yojana - (Group Micro-Insurance)

PNB MetLife Bima Yojana - (Group Micro-Insurance)

The PNB MetLife Bima Yojana - (Group Micro-Insurance) - is a simple and hassle-free product which provides life cover to the members of your group to safeguard their loan amount. This plan not only safeguards you but also protects the family of insured members from the burden of financial liabilities, in case of an eventuality.

PNB MetLife Bima Yojana - (Group Micro-Insurance) in a nutshell
1. Cover for various types of Micro-loans
2. Purchase Cover for Single Life or Joint Life
3. Option to choose Level or Reducing Cover
4. Flexibility to pay Single, Limited or Regular Premium

What you get

Flexible Premium Payment Modes

PNB MetLife Bima Yojana - (Group Micro-Insurance) is a flexible group insurance plan that allows you to choose from Half Yearly, Quarterly or Monthly premium payments to ensure a stable life for you and your family.

Level Cover Option

In case of Level Cover Option provided the member cover is in-force, the amount payable on the death of the Insured Member shall be equal to the Sum Assured chosen at inception.

Reducing Cover Option

In case of Reducing Cover Option provided the member cover is in-force, the amount payable on the death of an Insured Member shall be equal to the amount as per Cover Schedule subject to minimum of Rs. 1000.

Surrender Benefit

The Insured Member may surrender the Certificate of Insurance and avail surrender value based on their choice of premium payment.

What you don't get
No Benefits for Joint Life Cover

In case of simultaneous death of the both lives, claim for only one of the joint lives shall be accepted

Maturity Benefit

No survival or Maturity Benefit is payable under the PNB MetLife Bima Yojana - (Group Micro-Insurance) plan.

Suicide Exclusions

If the Life Assured's death is due to suicide within twelve months from the date of commencement of risk or from the Date of Revival of the Policy as applicable, the Nominee or beneficiary of the Policyholder shall be entitled to 80% of the total Premium paid till the date of death under the Policy death or Surrender Value available as on the date of death, whichever is higher, provided the Policy is in In force status. We shall not be liable to pay any interest on this amount.