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    PNB MetLife Group Term Life Plus

    You guarantee your customer’s dream. We guarantee them peace of mind.

    Traditional Life Insurance Plan | UIN: 117N049V03

    At PNB MetLife, we’re always looking out for our employees. To ensure complete protection of our employees, we designed a group term life insurance called the PNB MetLife Group Term Life Plus in lieu of the mandatory EDLI (Employee Deposit Linked Insurance Scheme). This plan offers a lump sum payment to the employee’s beneficiary in case of death for employees to cover against death and protect the family.

    PNB MetLife Group Term Life Plus in a nutshell
    • 100% of the Sum Assured on Death
    • Provides protection to the family of the employee.
    • Cost-effective compared to individual life cover.
    • Tax* Benefit to the employer.

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    What you get

    PNB MetLife Group Term Life Plus ensures that it:
    • Provides protection for family of the employee
    • Offers a more efficient way to meet the statutory EDLI requirement
    • Cheaper than an individual life cover.
    • Offers Tax* Benefits to employer but is not treated as prerequisite in the hands of the employee.
    • Acts as a strong retention tool for employers
    • Has flexible payment modes.
    • Offers the option to convert to individual coverage when an employee leaves the organization.
    • Offers additional cover for self and family on participatory basis.
    • Provides Tax* Benefits as applicable.

    What you don’t get

    Things You Need to know

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    What is PNB MetLife Group Term Life Plus?

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    PNB MetLife Group Term Life Plus is a group term life insurance policy that’s not only convenient but also provides cover against death and protects the family. This group life policy can also be offered in lieu of mandatory EDLI (Employee Deposit Linked Insurance Scheme) which offers a lump sum payment to the employee’s beneficiary in case of death for employees who are covered under the Employee’s Provident Fund and Miscellaneous Provision’s Act, 1976.

    What does the PNB MetLife Group Term Life Plus ensure?

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    PNB MetLife Group Term Life Plus ensures that it:

    1. Provides protection for family of the employee
    2. Offers a more efficient way to meet the statutory EDLI requirement
    3. Cheaper than an individual life cover.
    4. Offers Tax* Benefits to employer but is not treated as perquisite in the hands of the employee.
    5. Allows for hassle-free implementation because of availability of free cover limit, subject to T&C
    6. Acts as a strong retention tool for employers
    7. Has flexible payment modes.
    8. Offers the option to convert to individual coverage when an employee leaves the organization.
    9. Offers additional cover for self and family on participatory basis.
    10. Provides Tax* Benefits as applicable.

    What are the key Benefits of this plan?

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    • 100% of the Sum Assured on Death
    • Provides protection to the family of the employee.
    • Cost-effective compared to individual life cover.
    • Tax* Benefit to the employer.

    What are the Death Benefits in this plan?

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    Provides 100% of the sum assured in case of the unfortunate event of death.

    What are the Surrender Benefits in this plan?

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    There is no surrender Benefit associated with this product.

    What are the Maturity Benefits in this plan?

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    There are no survival or maturity Benefits associated with this product.

    What are the eligibility criteria for this plan?

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    Boundary Conditions Eligibility Criteria

    Entry Age (in completed years)

    Min : 18 years (EE)
    15 years (Non EE)

    Maximum Entry Age

    Employer Employee (EE) : 80 years
    Non Employer Employee (Non EE) : 60 years

    Maximum Maturity Age

    EE : 81 years
    Non EE : 61 years

    Coverage Term

    Year renewable Term - one year

    Sum Assured (Min)

    Rs 1000 per life

    Sum Assured (Max)

    As defined in the rules of the group insurance scheme under administration or as defined by the employer for employer- employee group and Master Policyholder for non-employer-employee group.

    Premium Payment Term

    Regular

    Premium Payment Modes

    Annual, Semi-Annual, Quarterly, Monthly

    How can I buy PNB MetLife Group Term Life Plus?

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    Disclaimer:

    • *Tax benefits are as per the Income Tax Act, 1961, & are subject to amendments made thereto from time to time. Please consult your tax consultant for more details

    AD-F/2020-21/00318

    Disclaimer:

    AD-F/2020-21/00318

    Disclaimer

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    As your trusted life insurance partner, PNB MetLife is with you amidst the current COVID-19 outbreak. Our policies also cover COVID-19 Claims. In case of a Death Claim, kindly submit the signed Claim Intimation Letter mentioning the policy number, brief of the insured event and other claim documents on the email mentioned herewith. Please write-in to us at claimshelpdesk@pnbmetlife.com or indiaservice@pnbmetlife.co.in. You can also call us on 1800-425-6969 for death claims intimations and for any queries on Monday - Saturday between 10:00 am - 7:00 pm.

    PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance PlansTerm PlanProtection PlansLong Term Savings Plans , Retirement Plans & Child Education Plan.

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