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PNB MetLife Loan and Life Suraksha PlusPlan, Policy, Premium and Maturity Calculator

PNB MetLife Loan and Life Suraksha PlusPlan, Policy, Premium and Maturity Calculator - Met Loan and Life Suraksha plan is a unique insurance plan that is best suited for companies that deal in credit. This insurance plan is a great financial tool for companies that want to retain customers and offer the incentive for obtaining credit and sticking with the company. This plan has been designed to offer insurance protection to groups where credit exists. This PNB Metlife insurance plan is aimed at offering a distinct edge to companies which want to differentiate themselves on the basis of services offered. The Met Loan & Life Surkasha plan offers a competitive edge to a company’s product portfolio, enhances customer loyalty of existing customers, reduces risk of default in case of customer’s sudden demise and offers the opportunity to maintain long-term customer relationships.

Eligibility - PNB MetLife Loan and Life Suraksha Plus and Policy

Entry Age Minimum Entry Age is 15 years

Maximum Entry Age is 65 years

Age at which cover ceases 70 years

Key Features - PNB MetLife Loan and Life Suraksha Plus and Policy

Plan Type
Non-Participating, non-linked group insurance scheme
Plan Basis
Group
Policy Term
2 years, 5 years, 10 years, 25 years and 30 years
Premium Paying Option
Single Pay, Limited Pay 5 years, limited pay 10 years
Grace Period
30 days from the date of premium payment
Nomination
Available
Base Sum Assured
Ranges between Rs.5000 and Unlimited
Policy Coverage
Death Benefit and Maturity benefit
Premium Payment Modes
Single, Annual, Semi-annual, quarterly, and monthly, payroll savings program
Group Size
50 members
Waiting Period during which insurance is not applicable
30 days from the date of enrolling with the insurance scheme
Free-Look Period
15 days from the date of receipt of insurance
Death Benefit
  • In case of death of an insured member, a lump sum death benefit amount is paid to the member
  • In case of joint lives, sum assured is paid to the surviving member after the death of the first member and then the insurance scheme is discontinued and no further benefits are rolled out

Benefits/Advantages - PNB MetLife Loan and Life Suraksha Plus and Policy

  • Choice of coverage option.

    Either Reducing Coverage Option or Level Coverage Option can be availed depending upon the type of loan availed by the customers. For mortgage, education and auto loans, the best coverage is Reducing Coverage while for a steady cover throughout policy, Level Coverage Option is good.

  • Sum Assured can be increased

    Higher the amount of loan availed, higher is the sum assured. If any customer chooses to top up his/her loan, then sum assured also increases proportionally.

  • Option of joint life cover

    For credit such as home loan, customers can choose to avail joint life cover so that both the insured people are eligible for protection.

  • Surrender Benefit is applicable

    Surrender benefit is applicable for insurance availed under the Met Loan & Life Suraksha plan . This benefit is equal to a pre-determined percentage of unexpired premiums.

  • Enjoy a distinct competitive edge over your competitors

    With the Met Loan & Life Suraksha Plan, companies can enjoy an enhanced customer relationship and loyalty.

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