PNB MetLife Loan and Life Suraksha Term Plan
PNB MetLife Term Insurance PNB MetLife Term Insurance ★ 4.6

PNB MetLife Loan and Life Suraksha

PNB MetLife Loan and Life Suraksha Plan offers life insurance along wi ...Read More

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📊 1.72 solvency ratio
99.57%% claim settlement ratio
🌐 15000++ pan-India

About PNB MetLife Loan and Life Suraksha

A quick read on what this PNB MetLife Term Insurance term plan covers and why it might be a fit for you.

PNB MetLife PNB MetLife Loan and Life Suraksha Plan is a comprehensive term insurance plan designed to secure your financial liabilities such as home loans, education loans, personal loans, and auto loans. The plan offers flexible coverage options including reducing cover, level cover, and increasing cover that adjusts according to changes in your loan amount.

The plan supports joint coverage for up to 2 individuals under housing and education loans, which makes it best for co-borrowers and families. For group insurance policies, coverage can be extended to up to 50 members.

PNB Metlife Loan & Life Suraksha Plan offers you a range of benefits including:

  • Affordable premiums
  • flexible premium payment
  • Dual coverage option
  • Tax benefits
  • Loan Benefit

 

Eligibility Criteria for PNB MetLife Loan and Life Suraksha

Entry age
Entry age
Minimum Age - 15 years Maximum Age - 65 years
Maturity age
Maturity age
Maximum Maturity Age - NA
Policy term
Policy term
Minimum term - 2 years, Maximum term - 25 years
Sum assured
Sum assured
Base sum assured: 5 Thousand to no limit
Policy loan
Policy loan
The policy loan is available under PNB MetLife Loan and Life Suraksha Plan
Payment Modes
Payment Modes
Half-yearly, Quarterly, Yearly, Monthly

Pros & cons

A quick honest summary — the strengths and the trade-offs.

Pros

  • High-life cover
  • Loan Coverage
  • Flexible premium payment

Cons

  • 1 year WP for suicide
  • Death due to adventure sports
  • No pre-existing illness cover

Who can buy this plan

Eligibility criteria pulled straight from the policy wording.

Entry age - 15 years
Max entry age - 65 years
Min sum assured - 5 Thousand
Max maturity age - NA

Features of PNB MetLife Loan and Life Suraksha

Key features that make PNB MetLife Loan and Life Suraksha stand out.

Dual coverage option

You will get a dual coverage option of reducing cover option and Level Cover Option.

Increase of Sum Assured due to increase in loan

You can choose a higher sum assured that matches your loan amount.

Moratorium

A moratorium period is when you are not required to repay the loan amount for a certain period. The loan lender sets the moratorium period and PNB Metlife will prepare the loan schedule accordingly.

Joint Life Option

Under this feature, you can cover your spouse, child, parent, and siblings.

Benefits of PNB MetLife Loan and Life Suraksha

Here are the key benefits of the PNB MetLife Loan and Life Suraksha.

Death benefit

Upon the death of the life insured during the policy term, PNBMetlife PNB Metlife Loan & Life Suraksha offers a policy sum assured to the group members.

Surrender benefit

This plan offers no surrender value on a pure protection plan. However, for the single and limited pay premium payment modes, the surrender benefits will be paid.

What are the exclusions of PNB Metlife Loan & Life Suraksha Plan

Here is the list of exclusions associated with the plan:

  • Suicide during the first 12 months of policy inception will not be covered.
  • Death occurred due to the pandemic not covered under this plan.
  • Injuries or illnesses caused due to any type of adventure sports.
  • Consumption of any type of, drugs, or alcohol except for the clinical purpose.
  • Any pre-existing disease that isn't mentioned during the start of the policy.

Conclusion

PNB Metlife Loan & Life Suraksha offers a wide range of coverage from loan benefits to life cover. It offers life coverage at affordable premiums along with tax benefits as per the law. If you are still confused about which term plan is best for you then you can contact us at PolicyX.com. One of our insurance representatives will contact you shortly, understand your requirements, and choose a plan that suits your needs.

Conclusion

PNB Metlife Loan & Life Suraksha offers a wide range of coverage from loan benefits to life cover. I

Explore PNB MetLife Term Insurance

PNB Metlife Loan & Life Suraksha: FAQs

The 6 most-asked questions about PNB MetLife Loan and Life Suraksha, answered.

The minimum purchase time for the PNB Metlife Loan & Life Suraksha term plan is 15 years.
Yes, an education loan is available under this plan.
Maximum 50 people can be covered under PNB MetLife Loan & Life Suraksha term plan.
Yes, joint life is covered under this plan.
You get multiple premium payment modes such as monthly, half-yearly, yearly and quarterly under this plan.
You can get a 30 days of grace period for both offline and online purchases.

Written and reviewed by

PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.

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