Sahara Child Insurance
PNB Metlife Life Insurance Company comprises of numerous stakeholders some of which include Metlife International Holdings LLC, Punjab National Bank Limited, Jammu and Kashmir Bank Limited and M. Pallonji and Company Limited among others. The company being the major alliance between Metlife International Holdings, one of the pioneer insurance companies of the world and Punjab National Bank boasts of expertise in both the insurance sector and financial sector. The company caters to the customers needs through a presence across 8000 locations including banks and other financial institutions besides the insurers own branches.
What are Term Insurance Plans?
A basic insurance plan is what defines a term insurance plan. The plan covers against death of the policyholder only without covering the payment of any benefit up on maturity. The policyholder is supposed to service the plan by paying the low amount of designated premiums while the company promises payment of the Sum Assured in the event of death which is the covered eventuality.
PNB Metlife Term Plans
PNB Metlife Life Insurance Company offers two types of term plan s which have attractive features and benefits.
Applying For Term Insurance through PolicyBazaar
On the PolicyBazaar homepage, click on Term Insurance under the Personal tab.
Click New Quotes to compare and choose from top insurance providers.
Fill your date of birth (DOB), whether you are a smoker/non-smoker, and the payout amount. On the basis of your payout amount, you will get an estimate of your premium. Next click Continue.
Fill in your name, email address, city, country code, and mobile number. Click Continue.
You will be taken to the Life Insurance quotes page where you will see life insurance quotes of more than 10 insurers. Next, choose the plan as per payment schedule – One Time Payout and Monthly Payout Plans.
After reviewing and comparing each life insurance quote, click the premium amount to buy the desired plan.
You will see a pop-up on the screen which will give you an overview of the chosen plan like premium, plan features, exclusions, additional riders, etc. Click Proceed.
This will take you to the insurers website. You will have to fill in the necessary details to buy the plan.
For how long should a term plan be taken?
A term plan should ideally be taken till the time the policyholder has financial responsibilities. Thus, it can again be seen that buying a term plan early on in life makes sense. Let us take a look at the example below.
25-year-old banker Kumar buys a term plan. He has a wife and a 1 year old son. He buys the term plan for 25 years as by then he expects his son to become economically independent and his financial responsibilities to end. His brother, Suresh, who is 35 years old, buys the same plan. However it doesnt make much sense for Suresh to buy such a plan as his only daughter is already 12 years old and his financial responsibilities are expected to end in the next 15 years.
So as we can see from the example above, a term plan should be bought till the time the policyholder has dependent family members. Since the term plan doesnt have a return component, it makes no sense to continue with the policy for a longer than required time period.