PNB MetLife Health Insurance Plan is a Non-Linked Insurance plan which is useful for health protection. PNB MetLife Major Illness Premium Back Cover is a plan which covers 35 Major Illnesses. We have given Features and Benefits of this Health Insurance Plan.
PNB MetLife Health Insurance Plan
PNB MetLife Insurance Co Ltd Launches a Unique Health Insurance Plan called MetLife Major Illness Premium Back Cover. Health is the fundamental efficiency of every living organism. In our life, we have to face some uncertainties regarding health. In those situations, PNB MetLife Health Insurance Plan will give financial benefits to you and your family for health protection. It is the perfect plan to cover medical problems. MetLife Major Illness Premium Back Cover Plan covers against Hospitalization Expenses in critical cases. The Unique Identification number of PNB MetLife Health Plan is UIN: 117N090V01.
Why We Need PNB MetLife Health Insurance?
This health plan is a Non-Linked Non-Participating Health Insurance Plan which provides a large number of Benefits for hospitalisation for various 35 critical illnesses. We never expect the arrivals of Hardships. NowaDays, Medical Expenses are very high. We can’t even Imagine also. So we have to be ready to face that Critical Situations Regarding Health.
MetLife Major Illness Premium Back Cover Features & Benefits
PNB MetLife has provided the Features and Benefits of this Health Plan. So the people who wish to buy Medical Insurance to protect your family can check the following information regarding features & uses.
- Provides Health Protection For 10 Years.
- Coverage of Hospitalization Expenses for 35 Critical Illnesses.
- Returns All the Premiums paid to in case of No Claim during the policy term.
- Tax Benefits on Premiums paid.
- Exclusive online Discount.
- 15 days of Free-Look Period If life assured is not satisfied with terms & Conditions of PNB MetLife Health Insurance Plan.
Benefits of PNB MetLife Health Policy
Policy Holder will get the following Benefits on taking the MetLife Major Illness Premium Back Cover Insurance Plan.
- Maturity Benefit.
- Critical Illness Benefit.
Maturity Benefit:
Life Assured will get the Maturity Benefit under this PNB MetLife Health Insurance Plan if No Claim is made during the Policy Term.
Death Benefit:
No Death Benefit is available under MetLife Health Plan.
Survival Benefit:
No Survival Benefit ia available under this PNB MetLife Health Insurance Plan.
Critical Illness Benefit:
This plan provides Hospitalization expenses for 35 Critical Illness during the policy term. PNB MetLife Health Insurance plan pays Sum assured as a Lump Sum amount in case of diagnoses.
MetLife Health Insurance Plan Eligibility Criteria & Conditions
The Life Insured who are willing to buy MetLife Major Illness Premium Back Cover Plan should know the eligibility criteria. The following details of the entry age, coverage term, Monthly Income and other features of PNB MetLife Health Insurance are very useful for the buyers who don’t have an idea about this plan. The following table provides whole information regarding the MetLife Major Illness Premium Back Cover.
MetLife Major Illness Premium Back Cover Policy at a Glance
| Entry Age of Plan |
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| Policy Term |
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| Premium Payment Term |
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| Premium Payment Mode |
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| Sum Assured |
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| Minimum Premium | For Age band 18-25 years and 1 adult, Benefit Option are
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| Annual Premium |
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PNB MetLife Premium Payment Options
Buyers can pay Premiums through Yearly, Quarterly, Half-Yearly and Monthly. Policy Holders can check the below table to get the whole information regarding Modes of Premium.
| S.NO | Mode of Premium | Multiplicative Factor |
| 1 | Semi-Anual | o.5131 |
| 2 | Quarterly | 0.2605 |
| 3 | Monthly ECS | 0.0886 |
| 4 | Payroll Savings Program | 0.0868 |
PNB MetLife Health Policy Rebates
A rebate is an amount paid by way of reduction, return, or refund on what has already been paid or contributed. LIC India provides Rebates under this policy. There are three types of Rebates covered under this policy. They are
| Large Sum Assured Bands | Rebate |
| Rs. 5,00,000/- –Rs. 9,99,999/-. | Nil |
| Rs. 10,00,000/- – Rs. 24,99,999/- | Rs. 4 /- per 1000 SA |
| Rs. 25,00,000/- – Rs. 50,00,000/- | Rs. 7/- per 1000 SA |
PNB MetLife Health Plan Premium Calculator
The following data will be required to calculate the Premium for the MetLife Major Illness Premium Back Cover Plan.
- Name of the Policyholder.
- Email Id.
- Mobile Number which is given to the Corporation.
- Date of Birth.
- Annual Income.
- Location.
Buying Process of PNB MetLife Health Policy
The Policy Holder Should have the following Documents To buy a this Health Insurance Plan. The Life Assured who wants to buy a Health plan should follow the rules that apply to the Insurance Plan as Assurance is a Protection against an event that is definite. The Buyer can buy this plan in two ways.
- Online.
- Offline.
Buying Process Through Offline:
The Life Insured can obtain by the Policy through the Following Ways.
- Through Agent.
- Visit the Nearest PNB MetLife Branch.
- Contact PNB MetLife.
In general to buy a new policy the documents required are
- Name.
- Proposal Form/ Application form.
- Address Proof.
- Medical Certificate.
- Age Proof, etc.
MetLife Health Insurance Plan Claim Process
Nominees can claim for MetLife Major Illness Premium Back Cover Plan after the diagnosis of the policyholder. Why Because there is no Death Benefit is available under this plan. The documents required to claim this Health Insurance Policy are same as the basic policy that you have taken. The general documents required for the claiming process are
- NEFT form.
- Cancel check or Bank Passbook xerox.
- Policy bond.
- Discharge form.
- Death certificate.
Additional Information on PNB MetLife Health Insurance Policy
Grace Period:
If the Policyholder is not able to pay the premium within due date, the company will extend the time to pay the premium is known as a grace period.MetLife Major Illness Premium Back Cover Plan has a grace period of 30 days for Quarterly, Half Yearly and Yearly Frequencies and 15 Days for Monthly, Payroll Savings.
Free Look Period:
In case the Policy Holder is not satisfied with the terms and conditions of the Policy can send the Request to the Company within 30 Days from the Date of receipt of the Policy called as Free Look Period. Then the Company will refund the Premiums Paid to the Policy Holder.
Surrender Value:
If the Buyer wants to return the policy within the Minimum Policy Term, surrender value will the paid to the policyholder.
The Surrender Value payable will be higher of “Guaranteed Surrender Value (GSV)” and “Special Surrender Value (SSV)”.
GSV= Guaranteed Surrender Value Factor * Total premiums paid (excluding extra premiums if any) upto the date of surrender.
The company will calculate Special Surrender Value based on the method as approved by the regulator from time to time. SSV can change by the Company from time to time after prior approval from the regulator.
Loan: Under this plan, no loan facility will be applicable.
Riders: No riders are available under this plan.
More Information on PNB MetLife Health Policy
Policy Lapse: If the policyholder isn’t able to pay the premium within the grace period for the at least first three full years, the policy will lapse. In this case, there are no benefits will be payable under this lapsed policy.
Paid Up Value:
If the premium is paid for three consecutive years and subsequent payments are not paid then, the policy acquires Reduced Paid Up Value.
Reduced Paid Up Value= (Total number of premiums paid/ Total number of premiums payable) * Sum Assured.
Suicide Clause:
If the policyholder commits suicide, then no benefit will be provided.
Exclusions:
Exclusions for this MetLife Major Illness Premium Back Cover Plan will be based on the following things. If the illness occurs due to the following reasons, there will no benefits will be provided for the nominee.
- Accident or injury while flying any aircraft, other than as a fare-paying passenger on an aircraft of a licensed airline.
- Attempting to suicide.
- Self-inflicted act.
- Usage of Alcohol, Drugs, narcotics, etc.
- Participation in any armed force War like The Accident during service in Military, Police Dept, or any other similar organisation.
- Drug-taking other than under the direction of a qualified medical practitioner.
- Participating in any criminal activity.
- Diseases like HIV/AIDS.
- Nuclear reaction, Radioactive contamination.
Termination of Policy:
PNB MetLife will terminate the Health Insurance Plan on the occurrence of the following events.
- If the policyholder doesn’t pay the premium and not revived within the revival period.
- In the case of the Surrender of Policy.
- On Payment of the Critical Illness Benefit except Angioplasty.
- On the Death of the Life Assured.
- In the case of Maturity Date.
35 Critical Illness that are enlisted in MetLife Major Illness Premium Back Cover Plan are
| SL.No | Critical Illness Covered |
| 1. | Apallic Syndrome. |
| 2. | Benign Brain Tumour. |
| 3. | Blildness. |
| 4. | Brain Surgery. |
| 5. | Cancer. |
| 6. | Chronic Lung Disease. |
| 7. | Coma. |
| 8. | End Stage Liver Disease. |
| 9. | Coronary Artery Bypass Surgery. |
| 10. | Heart Attack. |
| 11. | Heart Valve Surgery. |
| 12. | Kidney Failure. |
| 13. | Loss of Independent Existence. |
| 14. | Loss of Limbs. |
| 15. | Terminal Illness. |
| 16. | Major Burns. |
| 17. | Major Head Trauma. |
| 18. | Major Organ Transplant. |
| 19. | Paralysis. |
| 20. | Stroke. |
| 21. | Surgery to Aorta. |
| 22. | Angioplasty. |
| 23. | Alzheimer’s Disease. |
| 24. | Aplastic Anaemia. |
| 25. | Cardiomyopathy. |
| 26. | Deafness. |
| 27. | Loss of Speech. |
| 28. | Meduallary Cystic Disease. |
| 29. | Motor Neuron Disease. |
| 30. | Multiple Sclerosis. |
| 31. | Muscular Dystrophy. |
| 32. | Parkinson’s Disease. |
| 33. | Poliomyelitis. |
| 34. | Primary Pulmonary Hypertension. |
| 35. | SLE with Lupus Nephritis. |
FAQ’s on PNB MetLife Health Insurance Plan
1. What are the Policy Term and Premium Payment Term for the plan?
A. The Policy Term is 10 years (fixed), and Premium Payment Term is equal to the Policy Terms i.e. 10 years.
2. For What Type of Diseases, this plan will work?
A. 35 Critical Diseases like Heart Stroke, Kidney Failure, Blindness, Cancer, Lung Disease etc.