PNB MetLife Insurance

PNB MetLife is an Indian Insurance Company formed in partnership between Punjab National Bank Limited and America-based MetLife International Holdings Incorporated. PNB MetLife has held a strong presence in the insurance market since its foundation. This company was originally named MetLife India Insurance Company Limited in 2001 and later in 2011 PNB came into partnership by buying 30% of the stakes and formed PNB MetLife. PNB MetLife has various life insurance plans like Term insurance, Family Protection plans, Long term Saving plans, Retirement Plans, and Child Education Plans.

Key Features of PNB MetLife Life Insurance

The following are the key features of PNB MetLife Life Insurance:

• A Legacy of Trust: PNB and MetLife provide a combined trust and reliability of 265+ years. The claim settlement ratio of 99.06% for individual businesses and recorded 99.70% for group businesses in FY 2022-23.
• Unmatched Expertise: Together PNB and MetLife bring a magnificent market expertise that enables them to create plans that suit their customers' requirements. Punjab National Bank is one of the oldest banks in India which has maintained a top spot in the industry since 1895, and MetLife has held a reputation since 1868.
• Complete Transparency: The values of PNB MetLife prioritise transparency by not having any hidden clauses, terms, or technical jargon which can create misunderstandings.
• End-to-End Guidance: A dedicated insurance advisory team is there to help you right from evaluating your needs. The guidance offered by the insurance advisors extends to providing insights into different plans to help you choose the plan that fits your needs.
• A Solution for Every Need: With the ambition to serve and expertise in the industry, PNB MetLife has designed policies for every stage of life that help people financially secure themselves. Some common examples of such plans include Family Protection, Child Education, Long Term Savings, and Retirement Plans.

Key Metrics

PNB MetLife offers various insurance policies designed for a wide audience of all ages.

Metrics	Value
No. of Products	63
No. of Riders	8
Minimum Eligible Age	18 Years
Claim Settlement	99.20%
Starting Premium	Rs. 7,188
Minimum Sum Assured	Rs. 25,00,000

Eligibility To purchase a PNB MetLife Insurance Plan

To purchase a PNB MetLife Insurance Plan, you must fulfil the following criteria:

• Your age must be between 18-60 Years.
• You must have a Government ID to complete your KYC verification.
• You should have a source of income ( salary or own business)
• You should be able to provide 3 months of salary slips and 6 months of bank statements ( if salaried)
• You should be able to provide 3 years of ITR and COI of your business ( if business owner)

Types of plans offered by PNB MetLife Insurance Company

PNB MetLife offers a range of plans designed to fit the different needs of people of all age groups. Below mentioned are the types of plans offered by PNB MetLife:

• Family Protection Plans
• Long-Term Savings Plans
• Child Education Plans
• Retirement Plans
• Group Plans

Top Plans offered by PNB MetLife

PNB MetLife offers various insurance plans of all types. These plans are designed to fit the requirements of customers of all age groups and financial status. Here are the top plans offered by PNB MetLife.

Plan Name	Plan Type	Starting Premium	Maturity
Term Plan Plus	Term Insurance	Rs. 5,251/-	Policyholder age: 80 years
Guaranteed Future Plan	Investment	Rs. 35,250/-	30 years of policy
Century Plan	Investment	Rs. 1,25,400/-	Policyholder age: 80 years or 100 years.
Ajeevan Suraksha	Comprehensive	Rs. 5,000/-	Policyholder age: 80 years
Goal Ensuring Multiplier	Investment	Rs. 5,000/-	30 years of policy

Riders Offered by PNB MetLife Life Insurance

PNB MetLife offers various riders that you can add to your policy to tailor it to fit the customer's requirements. The riders offered by PNB MetLife are:

• Accidental Death Benefit
• Serious Illness
• Accidental Disability Benefit
• Critical Illness
• Group Accidental Permanent and Disability
• Group Accidental Permanent and Partial Disability
• Group Serious Illness Rider
• Group Accidental Death Benefits

How To Buy PNB MetLife Life Insurance Plan?

You can buy the PNB MetLife Insurance Plan online as well as offline through InsurannceDekho. Follow the given steps to purchase a PNB MetLife Insurance Plan.

Online Process

Buy PNB MetLife Policy Through the InsuranceDekho Website

To buy your PNB MetLife insurance policy through the InsuranceDekho website, follow these simple steps:

Step 1: Visit InsuranceDekho Website

Visit the official website of InsuranceDekho and get started with your process of purchasing life insurance by clicking on Insurance > Life Insurance.

Step 2: Fill in Your Details

Enter the details asked on the screen which include your name, date of birth, gender, and mobile number, and proceed by clicking on the "View Plans for Free" button.

Step 3: Choose the PNB MetLife Insurance Plan

You’ll see quotes from various insurers with several plans, choose the plan which fits your requirements. You can apply filters to customise your search. Select the PNB MetLife policy that suits your requirements. Later you can add riders to your coverage as well.

Step 4: Provide Specific Information

After selecting the policy, enter the additional information asked on the screen such as income, education, etc., and move ahead by clicking the "Next Step" button.

Step 5: Pay Premium

Now you shall be shown the details of the policy along with your details, review these details, and provide correction wherever necessary. To complete the process, click on "Accept and Pay".

Step 6: Submit Proposal Form & Documents

Once your payment is completed, you will be asked to submit necessary documents such as KYC, and income proof, along with the Proposal Form and any additional documents as per the insurers' request.

Note: Investment Plans may require fewer documents compared to other plans.

Step 7: Medical Evaluation & Underwriting

If you’re buying a term plan, there is a chance that the insurer asks you to take a medical evaluation test. After the test results come, the underwriting team will consider them and decide if they will approve your policy or not.

Step 8: Policy Issuance

After getting approval from the underwriting team, you shall receive a confirmation on your registered mobile number or via email with details of your PNB MetLife insurance policy.

Buy PNB MetLife via Insurer Official Website

You can also buy the PNB MetLife Insurance from the official website of PNB MetLife. The process will be similar to the one mentioned above.

Offline Process

• Contact InsuranceDekho Relationship Manager: On the InsuranceDekho website, you can find the ‘Call Back’ option. Clicking on this will get you a call from one of our relationship managers with whom you can have a one-to-one conversation and discuss all your queries and doubts regarding any insurance plan. You can book a home visit by the relationship manager who’ll reach your doorstep and guide you to purchase your policy from the comfort of your home.
• Visit the Branch Office of Insurer: You can visit the nearest branch office of PNB MetLife in your city and seek assistance in purchasing insurance. The branch office can assist in every aspect as well.

Documents Required

Given below are the documents required to purchase PNB MetLife Insurance:

• You must have a Government ID to complete your KYC verification. ( Aadhar/PAN/Passport/Voter ID)
• Proposal Form
• Address proof. (Aadhar/PAN/Passport/Voter ID)
• If Salaried
• Salary slips for the last 3 months.
• Bank Statement of last 6 months.
• If Business Owner
• ITR of last 3 years.
• COI for the last 3 years.
• Medical test results ( if applicable)

How to Claim?

The first step of filing a claim is intimating the claim at the earliest. In the case of a term insurance claim, It is highly recommended to file a claim as soon as possible. The earlier a person files a claim, the more smoothly and quickly the claim is processed.

Follow the given instructions to file a claim in case of the death of a policyholder:

• Step 1: Call the claim support team of InsuranceDekho and intimate the claim.
• Step 2: Submit the death certificate of the policyholder.
• Step 3: Introspecting the case will take some time which will find the reason of death which might require a post-mortem as well. The whole process takes 15-20 days.
• Step 4: The nominee has to verify their identity to the insurer by providing a valid Government-issued ID.
• Step 5: After approval and verification of the nominee, the claim is settled and the nominee is given the sum assured.

Modes Of Payment Options Offered By PNB MetLife

While making the payment, ensure that you have provided the correct details as these will be included in the policy documents and any error can cause delay in the claim settlement process. You should also go through the terms and conditions of the policy to be more informed about the benefits and exclusions.

You can make the payment through:

• UPI
• Credit/Debit Cards
• EMI

What is the Grace Period for PNB MetLife Premium Payments?

PNB MetLife provides a grace period of 30 days to pay the premium. If the customer fails to pay the premium within the grace period, the policy will lapse and the policyholder will no longer be able to access any benefits from the policy.

Note that in case of the death of a policyholder during the grace period, the claim is provided smoothly. However, if the premium is not paid and the grace period has ended, no claim will be provided. Hence InsuranceDekho suggests paying premiums timely to avoid being in such situations.

Steps to Revive Lapsed PNB MetLife PNB MetLife

An active policy can lapse if the policyholder stops paying a premium. After the grace period ends with no premium paid, the insurer holds the policy and restricts the policyholder from accessing the benefits of the policy. When the period of not paying premiums reaches 6 months, the policy lapses and needs to be revived to continue.

If you want to revive a policy that has lapsed, you can only do that within 5 years of lapsing. To revive the policy, you must contact the insurer and seek guidance to revive the policy. Follow the given steps to revive your policy:

1. Contact the Insurer: Reach out to the PNB MetLife customer support team and provide details of the policy you wish to revive. The customer service representative will ask you to pay the premium along with accumulated penalty and interest charges.
2. Pay Outstanding Premium: The grace period for payment of premium is 30 days, hence if you make the payment in this duration, you won't be charged any amount on top of your premium. However, if you make the payment within 6 months after the deadline then your policy will not lapse but interest will be charged on top of your premium amount. Subsequently, if you revive your policy after 6 months you will be obligated to pay penalty amount and interest to revive your policy.
3. Provide Medical Report: If you revive your policy within 6 months, you will probably not be asked to submit a medical report. However, if the revival is after 6 months of policy lapse then the insurer will most likely ask you to take a medical evaluation.

After completion of these steps, your policy will be revived and you can continue to enjoy the benefits of your PNB MetLife.

How To Check PNB MetLife PNB MetLife Status Online?

To check the status of your PNB MetLife policy through InsuranceDekho, follow the simple steps given below:

Step 1: Visit the official website of InsuranceDekho and click on Log In.

Step 2: Use your registered mobile number and OTP to log in to your account.

Step 3: Your dashboard will be displayed on the screen showing all your policies, select the PNB MetLife policy and you will see the status of the policy.

You can also check your policy through offline channels:

• Call PNB MetLife customer support at 1800-425-6969 (toll-free) and ask for policy status. The customer will have to provide the policy number and complete a verification process, after which the customer care representative will provide the policy status.
• You can also SMS ‘SMS MET HELP’ to 5607071 and a customer care representative will call you back and help you with your policy status.

PNB MetLife Life Insurance - Awards and Achievement

PNB MetLife is one of the oldest companies in the Indian Insurance market. Since it was formed in 2001, it has won many awards and recognitions, among the most recent ones are:

• ‘Customer Service and Customer Experience Company of the Year’ - at 2nd Edition Future of Insurance Summit and Awards 2023.
• ‘India’s Most Admirable Brand’ by Brand Story, 2022.
• In 2022, PNB MetLife was recognized as ‘Best Brand by Economic Times’ for the 4th consecutive year.
• Honoured with the ‘Best Compliance Team’ in 2021 Award at the Compliance 10/10 Symposium and Awards.
• ‘Best Performance Driven Digital Campaign’ at the 3rd DigiMarcom Leadership Awards in 2021.
• ‘People First HR Excellence Award’ in the category of Leading Practices in Diversity and Inclusion Initiatives and Leading Practices’ in Health and Wellbeing, 2020.

PNB MetLife Life Insurance Customer Service & Support

PNB MetLife provides various channels for customers and policyholders to seek assistance regarding any query or process related to policy.

Customer Care Number: You can call customer support at 1800-425-6969 (toll-free). International customers can contact by calling on +91-80-26502244 ( Mon-Sat, 10 AM to 7 PM).

Email: You can write an E-mail to PNB MetLife customer support at indiaservice@pnbmetlife.co.in.

Speak to Advisor: On the company's official website, you can submit a request to speak to an Advisor. You need to click on Speak to Advisor and then provide your basic details and then an advisor will reach out to you.

Chat Bot: Customers can talk to the chatbot called ‘Khushi’ who can assist them with the basic processes and queries.

PNB MetLife Complaints & Grievance Redressal

If the customer care response to your queries is unsatisfactory, you can contact the PNB MetLife grievance redressal team to escalate your complaint. Write an email to gro@pnbmetlife.co.in and describe the issue in detail.