LIC Premium and Maturity Calculator

PNB MetLife Pradhan Mantri Jeevan Jyoti Bima Yojana Plan, Policy, Premium and Maturity Calculator

PNB MetLife Pradhan Mantri Jeevan Jyoti Bima Yojana Plan, Policy, Premium and Maturity Calculator - This is a non-linked, non-participating, one year renewable term insurance product. This product has been designed to meet the life insurance coverage requirements under the provisions of “Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)” scheme launched by Government of India.

Key Features - PNB MetLife Pradhan Mantri Jeevan Jyoti Bima Yojana Plan and Policy

  • Protection at nominal cost
  • Straight through processing, no medicals required
  • Ease of enrollment, simplified proposal form

Product Benefits - PNB MetLife Pradhan Mantri Jeevan Jyoti Bima Yojana Plan and Policy

Death benefit

In the unfortunate event of the death of the insured member during the period of cover, the sum assured will be paid. Death due to any clause is covered (including suicide) under this product.

A Death benefit of Rs. 200,000 shall be payable to the nominee /beneficiary or legal heir on the death of the Insured member during the policy term and subject to the following:

  1. Death benefits payable under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) across all bank accounts and insurance companies for any insured member shall not exceed Rs. 200,000.
  2. In case a member is covered with multiple insurers through a single or multiple bank accounts and premium is received in respect of all covers, the insurance cover will be restricted to Rs. 200,000 (Rupees two lakhs) by admitting the claim on the first application based on the date of enrolment. In case, a death claim has already been settled by any other insurer in respect of any insured member, PNB MetLife shall not have any liability to admit any claim on the member and shall forfeit the premium(s) received in respect of the said deceased member.

Waiting Period

The Company will not be liable to make benefit payment under the policy if the death occurs during a waiting period of 45 days for reasons other than accident.

Waiting period applies at individual member level from the member’s date of joining. The waiting period applies only once upon 1st time enrollment in the scheme from any insurer and is not re-imposed again upon continuous renewal of cover.

Eligibility - PNB MetLife Pradhan Mantri Jeevan Jyoti Bima Yojana Plan and Policy

Particulars

Boundary Conditions

Age at entry

Minimum: 18 years (age last birthday) 
Maximum: 50 years (age nearer birthday)

Maximum maturity age

55 years (age nearer birthday)

Policy term

1 year, on yearly renewable basis

Sum assured

Rs.200,000

Premium amount

Rs. 330 per Annum per member

Type of Cover

Voluntary participation, based on good health declaration

Maturity/Surrender

No benefits payable

PNB MetLife Child Insurance Plans
PNB MetLife Money Back Plan
PNB MetLife Smart Child Plan
PNB MetLife College Plan
PNB MetLife Smart Platinum Plan
PNB MetLife Easy Super Plan
PNB MetLife Bhavishya Plus Plan
PNB MetLife Savings Plans
PNB MetLife Guarateed Savings Plan
PNB MetLife Money Back Plan
PNB MetLife Bachat Yojana
PNB MetLife Guaranteed Income Plan
PNB MetLife Endowment Savings Plan
PNB MetLife Endowment Savings Plan Plus
PNB MetLife Bhavishya Plus
PNB MetLife Wealth Insurance Plans
PNB MetLife Mera Wealth Plan
PNB MetLife Endowment Savings Plan
PNB MetLife Smart Platinum
PNB MetLife Smart One
PNB MetLife Easy Super

PNB MetLife Retiremet Plans
PNB MetLife Money Back Plan
PNB MetLife Bachat Yojana
PNB MetLife Wealth Plan
PNB MetLife Immediate Annuity Plan
PNB MetLife Retirement Savings Plan
PNB MetLife Monthly Income Plan-10 Pay
PNB MetLife Dhan Samriddhi Plan
PNB MetLife Smart Platinum
PNB MetLife Easy Super
PNB MetLife Group Insurance
PNB MetLife Endowment Savings Plan
PNB MetLife Pradhan Mantri Jeevan Jyoti Bima Yojana
PNB MetLife Unit Linked Employee Benefit Plan
PNB MetLife Traditional Employee Benefits Plan
PNB MetLife Superannuation
PNB MetLife Loan and Life Suraksha
PNB MetLife Group Term Life Plus
PNB MetLife Complete Care Plus
PNB MetLife Retiremet Plans
PNB MetLife Rural Plans
PNB MetLife Bachat Yojana
PNB MetLife Bhavishya Plus
PNB MetLife Grameen Ashray