In a nutshell,Car insurance online India is peace of mind for you. It’s your financial protection in case something unexpected to your car for example a bear leaping from the woods and leaving a giant pawprint dent on your car. Car insurance will cover the big cost a associated with damage to your car and yourself.CONTINUE
NEW In a nutshell,Car insurance online India is peace of mind for you. It’s your financial protection in case something unexpected to your car for example a bear leaping from the woods and leaving a giant pawprint dent on your car. Car insurance will cover the big cost a associated with damage to your car and yourself.
In a nutshell,Car insurance online India is peace of mind for you. It’s your financial protection in case something unexpected to your car for example a bear leaping from the woods and leaving a giant pawprint dent on your car. Car insurance will cover the big cost a associated with damage to your car and yourself.Learn MoreLearn More
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Life insurance – Compare Met Easy Super Term Insurance Plans – Insuremile
Frequently Asked Questions
PNB Met Super Insurance policy is a Unit Linked Life Insurance Plan that creates wealth for the investor as well as secures the future happiness of its investors and their loved ones.
In case of the death of the policyholder, the nominee receives Death Benefits. The Death Benefit will be the higher of the following: (a) the Fund Value or (b) the Sum Assured minus all Partial Withdrawals, or (c) 105% of the Total Regular Premiums paid.
Based on the customers propensity to take risks, there are 6 Unit Linked Funds for investment.
Systematic Transfer Option allows the customer to take advantage of market volatility.
Tax benefit is available in this policy as per the Income Tax Act under section 80 (C).
On maturation of the policy, the person insured is entitled to receive Maturity Benefit. There are various settlement options for the Maturity Benefit – (a) Withdrawal of the Total Fund Value as on the maturity date, which terminates the policy. (b) Withdrawal of the Total Fund Value is allowed to be done at regular intervals during an extended Maturity Benefit Period that does not last for more than five years starting from the maturity date. (c) A combination of the above two is possible, where part lump sum withdrawal and regular withdrawals, is done.
The policyholder may choose to manage his or her investment with the Premium Redirection option. The proportion for the selected fund has to be a minimum of 20%. Change in the allocation of premiums can be done free of charge once in every policy year.
A discontinued policy may be revived within two years of discontinuance by paying all due premiums.
Four switches in a policy years are allowed free of charge, after that Rs. 250 is charged per switch. Switches made over the internet are free of cost, regardless of the number of switches made. The minimum value of each switch has to be Rs. 5000.
If the Life Insured person commits suicide within a year of the policy commencement only the Total Fund Value in the unit account as at the time of demise, would be refunded. The same is applicable if the Life Insured person commits suicide within a year of the date of the last reinstatement.
This policy is a ULIP that is geared towards protection and investment.
It is an affordable policy with the minimum premium of only Rs. 12000 p.a.
Six unit-linked funds are available for investment with this policy. The policyholder can choose to invest in the self-managed option or opt for the Auto rebalancing option.
Partial withdrawals are permitted in case of financial emergencies.
Systematic Transfer Option is available with this policy under the Self Managed option.
Details About Premium
Annual premium in Rupees Policy Details
Grace Period: The policyholder is given thirty days to pay all due premiums. The policy will acquire a “Discontinued” status if payment is not made within the applicable timeframe.
Policy Termination or Surrender Benefit: The Discontinuation or termination of the policy is possible if the policyholder provides a written request to PNB Metlife, seeking to discontinue the policy or premium payment under the policy. The policy is also considered as “Discontinued” if premiums are not paid during the Grace Period or after thirty days have elapsed since a revival notice by the policyholder.
Free Look Period: The policy may be cancelled if the customer so wishes, within 15 days of receiving the policy document. The amount refunded is equivalent to non-allocated Premiums plus charges levied through cancellation of units plus Fund Value at the cancellation date. This amount is subject to deduction of expenses towards stamp duty and proportionate risk premium.
Additional Features or Riders
Various charges apply to this policy. They are as follows:
Premium Allocation Charge which is deducted from the Premium paid by the customer.
Fund Management Charge is levied for the management of the funds in the policy.
Premium Discontinuance Charge which is for discontinuing the plan before the end of the policy term.
Mortality Charge that is paid for the Life Coverage provided according to the Sum At Risk.
Switching Charge – A limit of four switches are allowed in a single policy year. After that Rs. 250 is charged per switch.
Partial Withdrawal Charge – One partial withdrawal is permitted free of cost in a policy year. For subsequent withdrawals, Rs. 250 is charged per withdrawal.
Miscellaneous Charge in which Rs.250 is levied for various alterations such as a change in the Base Sum Assured, Premium Redirection, etc.
The policyholder has to fill up an `Application form with identity proof, bank account proof, address proof and a recent photograph. Select cases may require income proof.
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