Loading...
Loading...
PNB MetLife Aajeevan Suraksha is an individual, non-linked, non-participating, pure-risk life insurance plan that lets you choose how long you stay covered and how long you pay. You can pick fixed-term cover of 10 to 40 years or whole-life cover up to age 99, and pay premiums once, for 5 to 15 years, or throughout the policy term (regular pay is available only with fixed-term cover). You also choose one of four benefit options at the start: Lump Sum, Life Partner (cover for your spouse under the same policy, fixed term only), Fixed Income (an immediate lump sum plus level monthly income for 10 years) or Increasing Income (an immediate lump sum plus monthly income that rises 10% a year for 10 years). The plan includes terminal illness cover, which pays the death benefit early. The minimum sum assured is ₹25 lakh with no stated upper limit, subject to underwriting. Optional extras cost additional premium: a Return of Premium option for fixed-term policies, and two riders (accidental death and serious illness). Women get special premium rates. Entry age is 18 to 65 years, and the maximum maturity age is 80 years for fixed term and 99 years for whole life. Premiums depend on age, smoking status, cover, term and options, so always get a personalised quote.
Whole-life cover up to age 99 or fixed-term cover up to 40 years, with spouse cover and return of premium available on fixed-term cover.
Aajeevan Suraksha stands out as a pure-protection plan that can run for your whole life. Most term plans stop at 70 to 85 years, so cover up to age 99 is useful for people who want a guaranteed legacy for their family or expect dependants late in life. The four payout options are also more family-friendly than a plain lump sum: the Fixed Income and Increasing Income options give a lump sum of 100 times the monthly income immediately, followed by 10 years of monthly income that can rise by 10% a year, which helps a family cope with rising expenses. Joint-life cover with premium waiver, special rates for women and a Return of Premium option round out the plan. The trade-offs are significant. Whole-life cover is far more expensive than fixed-term cover, as the brochure's own samples show (for example, ₹1 crore for a 30-year-old with a 10-year premium term costs about ₹25,800 a year for 30-year fixed-term cover against about ₹1.34 lakh a year for whole life). Several options cannot be combined with whole life: regular pay, Return of Premium (maximum term 30 years) and Life Partner are available only with fixed-term cover. There is no maturity benefit without Return of Premium, no policy loan, and the terminal illness benefit only brings the death benefit forward. The base sum assured also starts at ₹25 lakh, and the Life Partner option needs at least ₹50 lakh. It is best suited to buyers who specifically want lifelong cover or income-style payouts. For plain income replacement, a standard fixed-term plan is cheaper. Compare personalised quotes and read the policy wording before buying.
PNB MetLife
Key Insights
Founded
2001
PNB MetLife was established 25 years ago and has built strong credibility over time, backed by its long-standing presence in the market.
Claims Experience
99.81% CSR, calculated as a 3-year average
PNB MetLife settles 99.81% of all claims it receives, demonstrating strong credibility.
Contact Details
1800-425-6969
Headquarters: 1st Floor, Techniplex - 1, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West), Mumbai – 400062, Maharashtra
Choose whole-life cover up to age 99 or fixed-term cover of 10 to 40 years (30 years with Return of Premium). With whole life, the policy term is 99 minus your entry age.
Maximum maturity age is 80 for fixed term and 99 for whole life.
The death benefit is paid as a lump sum to the nominee. The Sum Assured on Death is the highest of 10 times the annualised premium (125% of the single premium for single pay), the basic sum assured, or 105% of premiums paid.
Available with both fixed-term and whole-life cover. The option cannot be changed later.
On death or terminal illness, the nominee gets an immediate lump sum equal to 100 times the chosen monthly income, plus that monthly income as level instalments for 10 years (120 months).
Available with both fixed-term and whole-life cover. The policy ends after the last instalment.
On death or terminal illness, the nominee gets an immediate lump sum equal to 100 times the chosen monthly income, plus monthly income for 10 years that increases by 10% (simple) each year.
Available with both fixed-term and whole-life cover. The policy ends after the last instalment.
If the life assured is diagnosed with a terminal illness, the Sum Assured on Death is paid early under the chosen benefit option. Two independent doctors must confirm a life expectancy of no more than 12 months.
It only accelerates the death benefit and is not additional cover. The policy ends once it is paid.
If you survive the policy term, you get back 100% of the total premiums paid as the maturity benefit. It must be chosen at the start and costs extra premium.
Available only with fixed-term cover, with a maximum term of 30 years.
Cover your spouse under the same policy. The spouse's sum assured can be up to 50% of the first life's (minimum ₹25 lakh, maximum ₹1 crore). If one life dies or is diagnosed with a terminal illness, the other's cover continues, and future premiums are waived or reduced.
Conditions or treatments that the policy clearly says it will not cover.
Insurer
PNB MetLife plans and claim process
It is an individual, non-linked, non-participating, pure-risk life insurance plan that offers either whole-life cover up to age 99 or fixed-term cover of 10 to 40 years, with four benefit options and optional Return of Premium and riders.
Lump Sum pays the benefit at once. Life Partner covers your spouse in the same policy (fixed term only). Fixed Income pays an immediate lump sum of 100 times a chosen monthly income plus that income for 10 years. Increasing Income pays the same lump sum plus monthly income that rises 10% a year for 10 years. The option is chosen at the start and cannot be changed.
You can choose fixed-term cover of 10 to 40 years (30 years with Return of Premium) or whole-life cover until age 99. The maximum maturity age is 80 for fixed term and 99 for whole life.
Disclaimer: Premium amounts are indicative and may vary based on age, health, and plan selected. Claim settlement ratios are from IRDAI Annual Reports. Finzony is not an insurance broker or agent. Verify all details on the official PNB MetLife website before purchasing.
Official Website
pnbmetlife.com
Visit the official PNB MetLife website for plan brochures, premium quotes and policy services.
The aforementioned ratios have been averaged over three years (FY24-FY26)
Needs a base sum assured of at least ₹50 lakh and is available only with fixed-term cover. Extra premium applies.
Provides additional protection over and above the death benefit if the life assured dies in an accident.
UIN 117B020V04. Extra premium applies.
Provides additional protection over and above the death benefit if the life assured is diagnosed with any of the critical illnesses listed in the rider.
UIN 117B021V04. Extra premium applies. Riders are offered only with single pay, regular pay or limited pay of 5, 7, 10, 12 or 15 years, attached at inception, and not if the outstanding term is under 5 years. Health riders are capped at 100% and non-health riders at 30% of the base premium.
You can pay once, for 5 to 15 years, or throughout the policy term (regular pay is available only with fixed-term cover). Premiums can be paid yearly, half-yearly or monthly. The minimum premium is ₹3,975 for regular pay and ₹5,000 for other options.
Yes, if you choose the Return of Premium option at the start. It pays back 100% of total premiums paid at maturity, but it costs extra premium and is available only with fixed-term cover of up to 30 years. Without it, nothing is paid on survival.
Entry age is 18 to 65 years. The minimum sum assured is ₹25 lakh, with no stated maximum (subject to underwriting). The Life Partner option needs a base sum assured of at least ₹50 lakh.
You can add the Accidental Death Benefit Rider Plus and the Serious Illness Rider for extra premium. They must be attached at the start and are not offered if the outstanding term is under 5 years.
There is a grace period of 30 days (15 days for monthly mode). After that, a regular pay policy lapses, and a limited pay policy lapses if the first two years' premiums are not paid. After that point, it can continue as a reduced paid-up policy. A lapsed or paid-up policy can be revived within five years with interest (currently 8% a year), subject to underwriting.
If death is due to suicide within 12 months of the start of risk or revival, the nominee gets at least 80% of total premiums paid, or the surrender value if higher. You can cancel within the 30-day free-look period and get a refund after deducting the proportionate risk premium, medical costs and stamp duty. There is no policy loan.