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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Frequently Asked Questions
PNB Metlifes Met Monthly Income Plan – 10 Pay is a traditional insurance policy with Bonus facility. It is a participating plan that guarantees a regular monthly income for the policyholder and his or her family members. This income will be paid regardless of whether the policyholder is present or not for 15 years till the end of the policy
On survival of the maturity period, the policyholder receives a monthly income for the next 15 years.
This policy allows for the Accrued Bonus to be taken as a lump sum on the date of maturity. The monthly income can be enhanced by converting the accrued Simple Reversionary Bonuses along with Terminal Bonus into level Monthly Income.
In case of the death of the policyholder, the higher of the two are paid – Death Sum Assured plus Accrued Reversionary Bonus and Terminal Bonus; or 105% of all premiums paid.
Additional Features or Riders
If premiums for a minimum of three years have been paid and subsequent payments have not been made, then benefits under the policy are reduced proportionately. This is called Reduced Paid-up Value.
A lapsed policy may be reinstated if the policyholder submits a written request for the same within a period of two years from the date of the lapse. Sufficient evidence of insurability has to be provided to the company as well as, all due premiums and interest accumulated have to be paid at the time of reinstatement.
A surrendered policy is not eligible for reinstatement.
The term insurance cover is void if the person insured, whether sane or insane at the time, commits suicide within one year from the start of the policy cover. The company will refund only 80% of the premiums received. The same is applicable if the person insured commits suicide within one year from the date of last reinstatement. In this case, if the policy is still in force then the company will refund the higher of the Surrender Value on the date of death or 80% of the premiums paid until the date of death.
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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1. Our Insurance rates are highly competitive.
2. All transactions will be on our digital platform – this ensures total transparency.
3. When you buy any insurance policy through InsureMile, we will ensure that 10 meals are provided to children in association with Plan India, a non-governmental organisation.
4. The meal-programme will be at no extra cost to you.
5. You can claim 80G tax benefit.
Payment of premiums for ten years guarantees a regular monthly income from the 11th to 25th year.
Tax benefit is available on the purchase of the policy. Additionally, the monthly income is tax-free.
The flexibility of the policy allows the regular monthly income to be provided to the family members in case of the death of the policyholder during the term period.
Details About Premium
Annual premium in Rupees
Grace Period: There is a limited timeframe of 30 days from the due date of the unpaid premium to pay all dues, without interest. This timeframe is reduced to 15 days if payments are being made via monthly or PSP mode. If the premiums are still not paid within this Grace Period then the policy lapses and is subject to non-forfeiture options.
Policy Termination or Surrender Benefit: If the policyholder wishes to surrender the policy then the company pays the higher of Guaranteed Surrender Value or Special Surrender Value. The policy will be terminated at the earliest of the following: (1) the date on which the policy is surrendered. (2)On the payment of the last monthly income/lump sum benefit amount at the end of the Benefit Pay out period, or death.
Free Look Period: A fixed free look period of 15 days from the date of receiving policy documents is allowed to review the terms and conditions of the policy. If the policyholder does not wish to continue with the policy, then he or she has to return the policy stating their objections. In case of Distance Marketing, this timeframe is extended to 30 days. The premium that was paid will be refunded minus a proportionate premium for the risk borne by PNB Metlife, as well as any extra expenses, such as towards a medical examination or stamp duty charges.
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