Launch Date | UIN | Status |
24/10/2017 | 117N092V02 | Active |
MetLife Mera Term Plan is a non-linked, non-participating term plan that guarantees your loved ones the future they dream of, even in your absence. Moreover, this plan covers the life insured till age 99. This is an online term plan.
Here’s a bird’s eye view of the plan:
Modes of Pay-outs |
Lump sum payment on death |
Lump sum + monthly income for 10 years |
|
Lump sum + increasing monthly income for 10 years |
|
Lump sum + monthly income till child turns 21 (named Child Education Support option) | |
Claim Settlement Ratio of the Insurer |
85% |
USPs of the Policy |
Affordable and customizable coverage |
Coverage up to age 99 | |
Tax Benefits |
The MetLife Mera Term Planoffers 4 options for customers to choose from:
Besides this, the plan offers the Joint Life Cover option. Under this option, both the policyholder and his/her spouse (second life) are covered up to age 75. Thisoption needs to be chosen at the inception of the policy. Thecoverage to the second life shall be equal to 50% of the sum assuredchosen by the policyholder, subject to a maximum of Rs 50 lakhs.
The MetLife Mera Term Planoffers you the choice of sum assured from Rs 10 lakhs to Rs 50 cr. Depending on your liabilities and outstanding loans, you can choose the right amount to guarantee your dependants do not lack for finances in order to make their aspirations and dreams come true in case you meet an untimely end. Moreover, you have the choice of term from 10 to 81 years for all options except Joint Life Cover option. For the Joint Life Cover option, you have the choice of term from 10 to 40 years.
With this plan, you can pay premiums monthly or annually. What’s more, policyholders can also look forward to tax benefits, as applicable, on the premiums they pay.
This is a good option for those wo have liabilities and dependants. This plan’s pay-outs will ensure your dependants do not have to worry about outstanding loans or education costs in your absence. Since this plan offers coverage up to 99 years (except Joint Life Cover option), one can consider this as a legacy planning instrument too.
PNB MetLife India Insurance Company is a joint venture between MetLife International Holdings, Punjab National Bank Limited, Jammu & Kashmir Bank Limited, M. Pallonji and Company Private Limited and other private investors. With the help of its banking partners, the company has an advantage of having access to a large number of customers and distribution networks.
Robinhood is known for its user & customer centric approach. We take care of all the phases of insurance, whether you've bought the policy from us or not.