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PNB MetLife DigiProtect Term Plan is an individual, non-linked, non-participating, pure-risk term plan sold online and designed mainly for salaried individuals. It pays a lump sum or a monthly income to the nominee if the life assured dies during the policy term, and it also pays the same benefit early if the life assured is diagnosed with a terminal illness. There is no maturity benefit. The death benefit is the highest of 7 times the annualised premium, 105% of total premiums paid, and the basic sum assured. The nominee can take it as a lump sum, as monthly income over 10 to 35 years, or as a mix of the two. The sum assured starts at ₹50 lakh with no upper limit, subject to underwriting. What sets the plan apart is flexibility. You can pause premiums for up to 12 months after three policy years without losing cover, exit a long-term policy later and get all your premiums back as Special Exit Value, and receive an Express Claim Payout of ₹3 lakh within one working day on eligible policies. First-year discounts for salaried customers, income tax filers and online buyers can add up to 21%. Optional riders cover accidental death, serious illness and accidental disability for an extra premium.
Digital term plan with a 12-month Premium Break after 3 years, an accelerated death benefit of ₹3 lakh within 1 working day of claim registration (after a 3-year wait), and first-year discounts of up to 12% for online purchases.
DigiProtect is a modern online term plan built around flexibility, and it brings together features that are usually spread across different insurers. Premium Break can be used several times, which helps if income dips, and the Special Exit Value gives back all premiums paid for long policies, which suits buyers who may not need cover in their 60s and 70s. The Express Claim Payout of ₹3 lakh is also a useful touch for families who need cash quickly. Compared with some peers, the riders list is more complete than it first appears, because the brochure offers accidental death, serious illness and accidental disability riders. There are limits to each of these features. The terminal illness benefit only brings the death benefit forward and the policy then ends, so it is not extra cover. Special Exit Value is available only for policy terms of 40 years or more, and only from policy year 25 (limited pay) or 30 (regular pay). The Express Claim Payout needs a sum assured of at least ₹1 crore, applies after three policy years, and has to be returned if the claim is later rejected. There is no policy loan, no reduced paid-up value, and the discounts apply to the first year only. The minimum sum assured is ₹50 lakh, which is higher than entry-level plans. DigiProtect works best for salaried professionals who want a long-term, customisable online term plan and are comfortable choosing riders themselves. Compare personalised quotes, check the latest brochure 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
If the life assured dies during the policy term, the nominee receives the highest of 7 times the annualised premium, 105% of total premiums paid, or the basic sum assured, provided the policy is in force.
The policy ends once the death benefit is paid. If death occurs in the grace period, the unpaid premium is deducted.
If the life assured is diagnosed with a terminal illness, the same amount as the death benefit is paid early, in the payout form the claimant chooses. 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.
At claim stage the claimant can choose a lump sum, level monthly income over 10, 15, 20, 25, 30 or 35 years, or a mix with 10% to 90% as a lump sum and the rest as monthly income. Future monthly instalments can be converted into a lump sum at any time.
After three completed policy years, you can pause premiums for up to 12 consecutive months while the policy and riders stay in force. The deferred premiums are paid at the end of the break without any interest, and the benefit can be used multiple times with a gap of at least five policy years.
No extra charge. Not available in the last five policy years or the final premium-paying year. If death occurs during the break, the deferred premium is deducted from the claim.
You can exit a long-term policy and get back all premiums paid (plus underwriting extra premium, excluding riders). For regular pay this is available from the 30th policy year, and for limited pay from the 25th, at no extra premium.
Only for policy terms of 40 years or more, and not in the last 4 years (regular pay) or last 5 years (limited pay). The policy ends after exit.
Pays an extra amount over and above the death benefit if the life assured dies because of an accident.
UIN 117B020V04. Extra premium applies.
Provides extra protection over and above the death benefit if the life assured is diagnosed with any of the critical illnesses covered under the rider.
UIN 117B021V04. Extra premium applies, and the covered illnesses and waiting period are set in the rider brochure.
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 term plan from PNB MetLife, sold online and designed mainly for salaried individuals. It pays a death benefit to the nominee, offers an early payout on terminal illness, and has no maturity benefit.
The nominee receives the highest of 7 times the annualised premium, 105% of total premiums paid up to the date of death, or the basic sum assured. It can be taken as a lump sum, monthly income over 10 to 35 years, or a combination.
No. The terminal illness benefit only brings the death benefit forward. After it is paid, no death benefit is payable and the policy terminates.
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)
Provides a benefit over and above the death benefit if the life assured suffers a disability because of an accident.
UIN 117B022V03. Extra premium applies. Riders can be added only at inception or on a policy anniversary, and total rider premium is capped (health riders at 100% and non-health riders at 30% of the base premium).
After three completed policy years, with all due premiums paid, you can skip premiums for up to 12 consecutive months while the cover continues. You pay the deferred premiums plus the next due premium at the end of the break, with no interest. You can use it again after a gap of five policy years, but not in the last five years of the term.
If you no longer need cover, you can exit and receive all the premiums paid (plus any underwriting extra premium, excluding riders). It is available only for policy terms of 40 years or more, from the 30th policy year for regular pay or the 25th for limited pay, and the policy ends afterward.
The minimum sum assured is ₹50 lakh, with no stated maximum (subject to underwriting). Entry age is 18 to 60 years (49 for pay till 60), and maturity age is 28 to 85 years.
You can add the Accidental Death Benefit Rider Plus, the Serious Illness Rider and the Accidental Disability Benefit Rider for an extra premium. Riders can be attached only at the start or on a policy anniversary.
You get a grace period of 30 days (15 days for monthly mode). If the premium is still unpaid, the policy lapses and no benefits are paid. You can revive it within five years, with interest (currently 7.5% a year) and 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. 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.