Term Insurance 1982 views April 11, 2020

PNB MetLife Term Plan for 99 Years

Life is unpredictable but being ready to face the unknown is the best decision. Securing and protecting the future of your family and loved ones is one of the prime objectives of every individual. Thus, to secure the family’s dreams buying a term insurance plan is one of the best investment decision. With PNB MetLife Mera Term Plan is a complete insurance package designed to provide insurance protection and financial security through a single plan. This term plan is one of the simplest and most cost-effective insurance product from PNB MetLife. Read on to know more about the features and benefits of the plan.

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The highlight features of the plan

PNB MetLife insurance company is known to design insurance products that provide insurance solution to every need of its customers. The PNB MetLife Mera Term Plan is one such term insurance plan that has a wide range of features as under:

  1. The plan is designed to provide financial security to your family and loved ones in your absence
  2. One of the most unique features of this plan is that it offers to cover for the spouse under the same policy
  3. Even if it is a term plan it extends insurance coverage up to 99 years
  4. The plan offers flexibility to either pay a limited period premium for 10 years or one can opt to pay a premium for the chosen cover period.

Key benefits of the plan

The PNB MetLife Mera Term insurance plan is a pure protection insurance product which can be tailor-made as per the insurance needs. The plan provides the following key benefits to the life insured:


The plan is flexible, as it offers an opportunity to the insured to choose any one of the pay-out options from the 4 available options. The 4 pay-out options available under the plan are:

  1. Full Lump Sum Pay-out
  2. Lump sum pay-out + Regular Monthly Income
  3. Lump Sum Pay-out + Increasing Monthly Income
  4. Lump Sum Pay-out + Regular Monthly Income till the child is 21 years old

Spouse Cover:

The plan offers a unique feature to cover your spouse under the same plan. however, the sum assured limit is capped to 50% for spouse cover


Being a pure protection plan, the plan offers insurance coverage at an affordable premium. Kindly note, if you are a non-smoker then the premium rates are further lowered for you by PNB MetLife.

Long Tenure

Most of the term insurance plans in India offers policy tenure of maximum 40 years. However, the Mera Term Plan offers long tenure i.e. insurance cover up to 99 years. The minimum entry age under this plan is 18 years therefore for this the insurance coverage tenure extends till 81 years


The basic plan is sufficient to take care of the family however if you wish to make the insurance plan robust you can widen the scope of coverage with add-on riders. The plan offers 4 riders related to accidental death, accidental disability, critical illness, and serious illness.

Increasing Cover

Under this plan, the insured can increase the life cover and make the insurance coverage robust as per the various stages of life.

Tax Benefit

Insured can claim a tax deduction for all the premiums paid under Sec 80C of the Income Tax Act. The pay-out received is tax-exempted under section 10(10D) of the income tax act, 1961.

Eligibility Criteria

The PNB MetLife Mera Term Plan is one of the best pure protection plan available in India. The following table illustrates the eligibility criteria of the plan:

Age at EntryMinimum: 18 Year
Maximum: 65 Years
Maximum Maturity Age99 Years
Policy TenureMinimum: 10 Years
Maximum: 81 Years
CoverageMinimum: Rs 10 Lakhs
Maximum: Rs 5 Crores
Premium Payment FrequencyYearly or Monthly

Final Words:

The plan is designed to offer insurance coverage for your entire life. Buying this plan ensures you leave behind a legacy for your loved ones. All the features and benefits of the plan make it one of the best and highly recommended term insurance plan.

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