PNB MetLife Mera Term Plan Plus

PNB MetLife Mera Term Plan Plus

PNB MetLife Mera Term Plan Plus is a protection plan that provides you and your family with a comprehensive life coverage at a very nominal cost. The plan offers you flexibility to choose protection against Death, Critical Illness, Disability, and Terminal Illness along with various additional options like spouse coverage and whole life protection. You can also customize your coverage with various cover enhancement options available under the plan.

PNB MetLife Mera Term Plan Plus in a Nutshell
1. Whole Life Coverage till the age of 99^
2. Cover your spouse under the same plan
3. Option to get back the premiums on survival
4. Child Education Benefit

What you get

Choice of 3 Benefit Options

Get to choose among Life, Life Plus, and Life Plus Health Benefit Options depending upon the type of coverage that you want.

Payout Flexibility

Choose to receive your benefits as a lumpsum, monthly income over 10 years, or as a combination of both.

Spouse Coverage

On payment of an additional premium, you can cover your spouse under the same plan!

Return of Premiums

On payment of an additional premium, you can choose to get back all premiums paid on survival till maturity.

Enhance PNB MetLife Mera Term Plan Plus with

Life Cover Till 99^ Years

Get extended coverage till 99^ years of age

Maximum maturity age 99^ years for all options except Life Plus Health & ROP option. Maximum maturity age for Life Plus Health & ROP option is 75 years.

Step Up Benefit

Increase your coverage by 10% every year for the next 10 years.

The Step Up Sum Assured is added at every policy anniversary starting from first policy anniversary for the next 10 years. The Step Up Sum Assured is equal to the Step Up Rate (fixed at 10%) multiplied by the Basic Sum Assured. An additional premium will be charged for every addition of Step Up Sum Assured, based on the age attained by the policyholder and the outstanding policy term, at the time.

Life Stage Benefit

Get the flexibility to increase your life coverage at key milestones.

Choose to increase the Sum Assured at various life stages as mentioned below:

1. 1st Marriage: 50% of Basic Sum Assured subject to a maximum of Rs. 50 Lakhs
2. Birth of 1st child: 25% of Basic Sum Assured subject to a maximum of Rs. 25 Lakhs
3. Birth of 2nd child: 25% of Basic Sum Assured subject to a maximum of Rs. 25 Lakhs
4. Home Loan taken by the Life Assured after the Date of Commencement of Risk (only once during policy term): 50% of Basic Sum Assured subject to a maximum of Rs. 50 Lakhs

Child Education Support Benefit

Get an additional layer of protection exclusively towards your children's education expenses.

You can choose to increase the Sum Assured with the specific goal of providing for the cost of education of one child of the Life Assured. Additional premiums will be charged from the Date of Inception of this benefit. Child Education Support Benefit Sum Assured at inception is equal to the estimated outstanding total cost of education, and reduces at every policy anniversary, provided that no claim for Death or Diagnosis of Terminal Illness (if Life Plus or Life Plus Health Benefit Option is chosen) of the Life Assured is admitted during the term of Child Education Support Benefit. This option can be chosen only if the nominated child has 5 to 19 years of education left for completion of graduate degree. This additional Sum Assured is subject to a minimum of Rs. 10 Lakhs and a maximum of Rs. 1 Cr.

Riders

Get additional protection for your policy by opting for riders.

The following riders will be offered along with this plan:
1. PNB MetLife Accidental Death Benefit Rider Plus: The chosen accidental Death Benefit Sum Assured is paid to the nominee.
2. PNB MetLife Accidental Disability Benefit Rider: The Insured is paid the pre-decided Accidental Disability Benefit in case he/she meets with an accident that results in disability.
3. PNB MetLife Serious Illness Rider: The Insured is paid the Serious Illness Benefit on the first diagnosis of the 10 covered serious illnesses.
4. PNB MetLife Critical Illness Rider: The Critical Illness Benefit is paid on the first diagnosis of the 2 critical illnesses i.e. cancer and heart attack.

PNB MetLife Mera Term Plan Plus can help you:
1. Safeguard your family's financial independence even in your absence.
2. Secure your children's higher education without any financial worries.
3. Stay protected for your whole life or choose a coverage term.
4. Option to protect your spouse under the same plan
5. Pay premiums as per your requirement
a) You can pay just once and stay protected for the entire term,
b) pay throughout the policy term by choosing Regular Pay,
c) pay for a limited term (5, 10, 15, or 20 years), or
d) pay till 60 years.

What you don't get

Self-inflicted Injury

Claims made as a result of illnesses or death caused due to self-inflicted injury or attempted suicide (within one year of commencement of policy) will be rejected.

Pre-existing conditions

Claims made as a result of any pre-existing condition, will be rejected.

War and terrorism

Claims made as a result of war, terrorism, invasion, act of foreign enemy, hostilities (whether war be declared or not), armed or unarmed truce, civil war, martial law, mutiny, rebellion, revolution, insurrection, military or usurped power, riot or civil commotion, or strikes, will be excluded.

Peace Time Operations

Claims made as a result of participation in naval, military, or air force operations during peace time, will be excluded.

Illegal activities
Claims made as a result of participation by the insured person in an assault, a criminal offence, an illegal activity, or any breach of law with criminal intent, will be rejected.

Hazardous Activities

Claims made as a result of participating in professional sports or any hazardous pursuits will be excluded. E.g. diving or riding or any kind of race, underwater activities involving the use of breathing apparatus or not, martial arts, hunting, mountaineering, parachuting, and bungee jumping.

Substance Abuse

Claims made as a result of alcohol or solvent abuse or taking of drugs, narcotics, or psychotropic substances unless taken in accordance with the lawful directions and prescription of a registered medical practitioner, will be excluded.

Flying Activity

Claims made as a result of participating in any flying activity, except as a bonafide fare-paying passenger or pilot and cabin crew of a recognised airline on regular routes and on a scheduled timetable, will be excluded.

Nuclear Contamination

Claims made as a result of radioactive, explosive or hazardous nature of nuclear fuel materials or property contaminated by nuclear fuel materials or accident arising from such nature, will be excluded.

Waiting Period

Any disease occurring within 90 days of the start of coverage (i.e. during the waiting period) or date of reinstatement, whichever is later, will not be covered.

Congenital Condition

Claims made as a result of an external congenital condition, will be excluded.

Exclusions for Critical Illness benefit

No waiver of premium benefit will be payable if the Critical Illness is caused or aggravated directly or indirectly by any of the mentioned acts in Term & Conditions of the life insured unless those are beyond his / her control.

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.