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MMTP Sales Brochure - tcm47-27548 PDF
MMTP Sales Brochure - tcm47-27548 PDF
PNB MetLife India Insurance Company Limited, Registered office address: Unit No. 701, 702 & 703, 7th Floor, West Wing,
Raheja Towers, 26/27 M G Road, Bangalore - 560001, Karnataka. IRDAI Registration number 117. CI No:
U66010KA2001PLC028883. PNB MetLife Mera Term Plan is a Individual Non-Linked, Non-Participating, Pure risk premium
Life Insurance Plan (UIN: 117N092V03). Please consult your advisor for more details. Please read this Sales brochure
carefully before concluding any sale. Tax benefits are as per the Income Tax Act, 1961, & are subject to amendments made
thereto from time to time. Please consult your tax consultant for more details. Goods and Services Tax (GST) shall be levied
as per prevailing tax laws which are subject to change from time to time. The marks “PNB” and “MetLife” are registered
trademarks of Punjab National Bank and Metropolitan Life Insurance Company, respectively. PNB MetLife India Insurance
Company Limited is a licensed user of these marks. Call us Toll-free at 1-800-425-6969. Phone: 080-66006969, Website:
www.pnbmetlife.com, Email: indiaservice@pnbmetlife.co.in or Write to us: 1st Floor, Techniplex-1, Techniplex Complex, off
Veer Savarkar Flyover, Goregaon (West), Mumbai - 400062, Maharashtra. Phone: +91-22-41790000, Fax:
+91-22-41790203. AD-F/2019-20/0096.
• On policyholder’s marriage: Equal to 50% of the original cover Riders available with Base Plan:
subject to maximum of `5,000,000.
• On the birth of the first child: Equal to 25% of the original Critical Illness Benefit Under this option, Critical Illness (CI) Cover shall be payable upon the
cover subject to maximum of `2,500,000. first diagnosis of one of the two covered Critical Illnesses – Please refer
the PNB MetLife Critical Illness Rider brochure for full details
• On the birth of the second child: Equal to 25% of the original
cover subject to maximum of `2,500,000. Accidental Death Benefit Under this option, the chosen ADB (Accidental Death Benefit) Sum Assured
shall be payable as ‘Lump Sum’ upon death due to accident – Please refer
The enhancement of the coverage will be subject additional premiums. the PNB MetLife Accidental Death Benefit Plus Rider for full details
The additional premium for the enhanced cover shall be calculated Accidental Disability Benefit Under this option, the chosen Accidental Disability Benefit shall be
based on the attained age of the policyholder and the prevailing payable upon the life insured meeting with an accident that results in
standard premium rates for term assurance cover at the time of him/ her being impaired – Please refer the PNB MetLife Accidental
exercising the option (i.e., on happening of defined life events) without Disability Benefit Rider for full details
any medical examination. The maximum additional sum assured put
together under all these events will be `50,00,000. Serious Illness Cover Under this option, Critical Illness (CI) Cover shall be payable upon the
first diagnosis of one of the listed 10 covered Critical Illnesses – Please
refer the PNB MetLife Serious Illness Rider brochure for full details
The policyholder needs to indicate if he/she wishes to avail the life stage
benefit - Option to increase the Sum Assured at the inception of the
Policy. However, once the policyholder opts for this benefit, he/she can
choose to increase the sum sssured at specified life events as mentioned Who can buy this plan?
above, if he/she desires to do so. This option is not available if the • If you are between the following age bands, you may buy this plan
policyholder opts for Joint Life Coverage.
Minimum Entry Age 18 years
Joint Life Cover Under the Joint Life Coverage Option, both the policyholder (the first Maximum Entry Age 65 years
life) and his/her spouse (the second Life) are covered. This option needs
Maximum Maturity Age 99 years for all options (except Joint Life cover option)
to be chosen at the inception of the Policy. The coverage to the Second
life shall be equal to 50% of the Sum Assured chosen by the policyholder Joint Life Cover option: 75 years (applicable for both
subject to a maximum of `50 lacs. Under this option Primary & Secondary life)
• In case of death of the First life the death sum assured in respect of *All references to age are as on last birthday
the First life will be paid. The policy continues with future premium
being waived. On the death of second life there after death sum
assured in respect of second life is paid and the policy is terminated.
• In case of second life predeceasing the first life, the death sum
How can I buy this Plan? What will happen if I stop paying
PLAN IN DETAIL
premiums?
You just have to follow 4 simple steps to
What is my Coverage Period? customize and purchase PNB MetLife If premiums are not paid on their due
You can choose any term from 10 years to 81 years for all options (except Joint Life Cover Mera Term Plan. dates, a Grace period of 30 days from the
option) & 10 years to 40 years for Joint life Cover option (applicable for both Primary & due date of unpaid premium (15 days for
Make your own Plan:
Secondary life), subject to maximum maturity age. monthly mode) for you to make premium
Choose Base Sum Assured; Choose one payment. During the Grace period the
How long do I have to pay premiums?
option from Mera Family Payout options; Policy shall continue to be in force for all
You can choose to either pay premiums for the chosen coverage period or to pay premiums Choose one from Mera Family Coverage the Insured events.
for 10 years Option; Choose one or all from Mera
Should a valid claim arise under the Policy
At what frequencies I can pay premium? Additional Benefits; Sum Assured;
during the grace period, but before the
Coverage Term; Premium paying term,
At Yearly & Monthly frequencies you may pay applicable premiums. Following factors payment of due premium, we shall still
Premium payment frequency.
will be applicable on annualized premiums for calculating premiums you may have honor the claim. In such cases, the due and
to pay. Generate Premium quote: unpaid premium will be deducted from any
For generating premium quote you have benefit payable.
Modal Factors
to enter to Age; gender, answer to the If the premium is not paid either on the
Mode of Premium Multiplicative Factor questions, if you consume tobacco or not. premium due date or within the grace
Yearly 1.0000 period, all benefits under the policy will
Fill in relevant information:
cease.
Monthly (Only ECS) 0.0886 Your Personal Details, your occupation No benefits will be paid when the policy is
details, your lifestyle details, family
in lapsed status. A lapsed policy can be
What are the coverage Options under this Plan? medical history; nominee details.
revived as defined in the section for
You may choose from below, minimum and maximum sum assured from various benefit Pay Premiums: Revival.
options Being a pure protection product, there is
Your policy will be sent to your subject to
acceptance of the application as per no surrender value or paid-up value under
Sum Assured any of the premium paying term options.
Policy Terms and Conditions.
Sections Minimum Maximum What are the benefits? However, For Limited Pay: We will pay the
unexpired premium value upon:
Upon the death of the insured before the
Lumpsum `10,00,000 `5,00,00,00,000 • For inforce and fully paid policies:
end of the Policy Term, the Death Sum
Policyholder voluntarily closing the
Mera Family Assured will be paid as the death benefit
Monthly Income `10,00,000 `5,00,00,00,000 policy during the policy term
payout as per the ‘Mera Family Payout’ option
chosen the Policyholder. The Death Sum • For lapsed policies: Earlier of-
Increasing Monthly Income `10,00,000 `5,00,00,00,000 Assured is defined as higher of 10 times the o Death during revival period
annualized premium or 105% of total after date of lapse
Child Education Support `10,00,000 `5,00,00,00,000 premiums paid upto the date of death or o End of the revival period
any absolute amount to be paid on death.
Mera Family Joint Life Cover `25,00,000 `50,00,000 o Policyholder voluntarily closing
Benefits (For Second Life) Absolute amount paid on death is the Base the policy during revival period
Sum Assured of the Policy.
Life Stage Protection `25,00,000 `50,00,000 Unexpired Premium Value =
What will happen if nothing happens
Accidental Death Benefit `5,00,000 `2,00,00,000 to me during the chosen policy term?
Mera Accidental Disability Benefit `5,00,000 `2,00,00,000 This Plan does not have any maturity or where, X = 70, if all due premiums for the
Additional survival benefit. first two consecutive years are paid amd X
Benefits Serious Illness Cover `5,00,000 `50,00,000
= 0, otherwise.
Critical Illness Cover `5,00,000 `50,00,000
Can I surrender the Policy? Company, is to be provided by the
policyholder / person Insured at his / her
ABOUT PNB METLIFE
You may surrender the policy any time
own cost. On reinstatement of the policy, PNB MetLife India Insurance Company strength of a leading global life insurance
during the policy term. There will be no
the policy benefits will be reinstated. Limited (PNB MetLife) is one of the provider, MetLife, Inc., and the credibility
surrender benefit payable.
A surrendered Policy cannot be reinstated. leading life insurance companies in India. and reliability of PNB, one of India's oldest
Who will get the benefit?
The Company reserves the right to PNB MetLife has as its shareholders and leading nationalised banks. The vast
You can nominate a person to receive the reinstate the lapsed policy by imposing MetLife International Holdings LLC distribution reach of PNB together with
policy benefits as per the provisions of such extra premium as it deems fit as per (MIHL), Punjab National Bank Limited the global insurance expertise and
Section 39 of the Insurance Act, 1938 as the board approved underwriting policy. (PNB), Jammu & Kashmir Bank Limited product range of MetLife makes PNB
amended from time to time. (JKB), M. Pallonji and Company Private MetLife a strong and trusted insurance
Alteration between different modes of
Limited and other private investors, MIHL provider.
Free look period premium payment is allowed at any policy
and PNB being the majority shareholders.
anniversary on request. For more information, visit
You have a period of 30 days from the date PNB MetLife has been present in India
of receipt of the policy document to No other alterations are allowed under this since 2001. www.pnbmetlife.com
review the terms and conditions of this Plan.
Policy. If you have any objections to any of Goods & Services Tax PNB MetLife brings together the financial
the terms and conditions, you have the Goods & Services Tax will be applied as
option to return the Policy stating the per current Goods & Services Tax laws,
reasons for the objections and you shall be service tax is applicable on the life DISCLAIMER
entitled to a refund of the premium paid insurance premiums. Any other indirect tax
subject only to a deduction of a or statutory levy becoming applicable in Extract of Section 41 of the Insurance Act, (2) Any Person making default in
proportionate premium for the time on risk future may become payable by you by any 1938, as amended from time to time state complying with the provisions of this
that we have borne in addition to the method we deem appropriate including by section shall be punishable with fine
expenses incurred towards medical (1) In accordance with Section 41 of the
levy of an additional monetary amount in which may extend to ten lakh rupees.
examination, if any and stamp duty Insurance Act, 1938, as amended from
addition to premiums. time to time no person shall allow or Fraud and misrepresentation
charges.
What is not covered? offer to allow, either directly or
Policy Loan indirectly, as an inducement to any Treatment will be as per Section 45 of the
If the Life Assured’s death is due to suicide Insurance Act, 1938 as amended from time
No policy loan is allowed under this Policy. within 12 months from the Date of person to take out or renew or continue
an insurance in respect of any kind of to time.
commencement of risk or from date of
Revival risk relating to lives or property in India,
revival of the policy, the Nominee or ü Please read this Sales brochure
You can revive your Policy during the Policy beneficiary of the policy will be entitled to any rebate of the whole or part of the carefully before concluding any sale.
Term but within a period of five consecutive at least 80% of the total Premiums paid commission payable or any rebate of
years from the date of first unpaid premium the premium shown on the policy, nor ü This product brochure is only
under the Policy till the date of death or the
by submitting the proof of continued shall any person taking out or renewing indicative of terms, conditions,
Surrender Value available as on the date of
insurability to the satisfaction of the or continuing a policy accept any warranties and exceptions contained
death, whichever is higher, provided the
Company and making the payment of all due rebate, except such rebate as may be in the insurance policy. The detailed
Policy is in Inforce Status.
premiums together with interest payment at allowed in accordance with the Terms and Conditions are contained
Am I entitled to claim tax benefits on published prospectuses or tables of the in the Policy Document.
the rate that may be prevailing at the time of premiums paid?
payment depending on the Government insurer
Bond Yield. At present, we charge an Tax benefits under this plan are available
interest rate of 9% p.a. upon such policy as per the provisions and conditions of the
revivals. The Company reserves the right to Income Tax Act and are subject to any
change this interest rate, subject to approval changes made in the tax laws in future.
from IRDA of India. Please consult your tax advisor for advice
on the availability of tax benefits for the
For reviving a lapsed policy, the proof of premiums paid and proceeds received
continued insurability, as required by the under the policy.