PNB METLIFE MERA HEART AND CANCER CARE PLAN

PNB MetLife Insurance Company Overview

PNB MetLife India Insurance Company Limited (PNB MetLife) is one of the prominent life insurance companies in the country. MetLife International Holdings LLC (MIHL), Punjab National Bank Limited (PNB), Jammu & Kashmir Bank Limited (JKB), M. Pallonji and Company Private Limited and other private investors have together formed this company, where MIHL and PNB are the majority shareholders in this life insurance company. PNB MetLife started its operations in the year 2001.

PNB MetLife brings together the financial power of a top global life insurance provider, MetLife, Inc., and the reliability and consistency of PNB, one of India's oldest and most trusted nationalised banks. The huge distribution network of PNB, together with the worldwide insurance expertise and product range of MetLife, makes PNB MetLife a robust insurance provider.

PNB MetLife has its presence in 107 locations across India with access to over 100 million customers in more than 10,000 locations through its robust bank partnerships with PNB, JKB, KBL, and RRB.

PNB MetLife provides an extensive range of protection and retirement solutions through its Agency sales of over 10,000 financial advisors and many bank partners. It also provides access to Employee Benefit plans for over 800+ corporate clients in India. The company continues to thrive and it's turnover and profit figures are soaring year by year.

PNB MetLife Mera Heart and Cancer Care Plan Overview

PNB MetLife Mera Heart and Cancer Care is a non-participating, non-linked health insurance plan. Although there are numerous health insurance plans in India, the PNB MetLife Mera Heart and Cancer Care is a custom-made critical illness insurance plan that provides the policyholder with excellent coverage against all stages of cancer and heart diseases. The product offers two plan options: Lump sum on diagnosis of covered conditions under Heart cover, Cancer cover or both Heart and Cancer cover (Gold Plan). One can also opt for an additional monthly income (Platinum Plan). Both these plan options can be chosen With Return of Balance Premium or Without Return of Balance Premium.

Features of PNB MetLife Mera Heart and Cancer Care Plan

  • Flexibility to cover oneself against Cancer, Heart or both diseases
  • Lump sum payouts to take best health treatment at Mild, Moderate and Severe stages of critical illness
  • Inbuilt Terminal Illness and Life Cover in the plan offering coverage from day one
  • Waiver of future premiums benefit for 5 years on ¬diagnosis of Mild or Moderate conditions of heart or cancer
  • Return of premium option available in the plan
  • Flexibility to choose 10, 15 or 20 years of policy term by the customer
  • Female specific cancer covered at preferential rates
  • Optional monthly income benefits in case of severe stage claim (Platinum Plan)
  • Availability of claiming tax deduction for premiums paid in the plan

Benefits of PNB MetLife Mera Heart and Cancer Care Plan

Lump Sum Benefit

The lump sum payout is made to the insured as per the stage of illness diagnosed.

  • 25% of Sum insured will be paid in the plan at a mild stage,
  • 50%of Sum insured will be paid in the plan at a moderate stage
  • 100% of Sum insured will be paid in the plan at the severe stage of illness.

The amount of benefits payable at each stage will be less any claims already paid out in the plan. The pay-out will be same for both gold & platinum plan variants.

Premium Waiver Benefit

The premium waiver benefit of the plan will become active if any claim is raised under the mild or moderate stage. The policyholder will not have to pay any premium for the next 5 policy years. The benefit will be only available one time at the successful acceptance of moderate or mild stage claim.

Maturity Benefit

The policy also comes with a maturity option which the policyholder can choose. If the maturity benefit is selected, then the policyholder will get the benefit of receiving the premiums back less critical illness claims paid. The maturity benefit will be payable only if the policyholder has selected it at the inception of the policy.

Death/Terminal Illness Benefit

The death benefit is payable on diagnosis of terminal illness or occurrence of death. Death benefit sum will be the sum insured payable on death less any critical illness already paid out in the tenure of the policy.

Monthly Income Benefit

The monthly income benefit option is available in the platinum variant only. This benefit provides the nominee with a monthly income benefit of 1.5% of the sum insured to be paid on severe stage claim over a period of 5 years from the date of claim. This benefit is in addition to all other benefit described in the plan.

Surrender Benefit

The policy will obtain a surrender value if the policyholder pays all the premiums non-stop in the plan for 3 full years. Surrender value which is higher of Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV) will be payable less any critical illness claims paid.

What Is Covered in PNB MetLife Mera Heart and Cancer Care Plan?

Stage/Cover optedHeart CoverCancer Cover
Mild25% of the Sum Insured for Heart Cover25% of the Sum Insured for Cancer Cover
Moderate 50% of the Sum Insured for Heart Cover50% of the Sum Insured for Cancer Cover
Severe100% of the Sum Insured for Heart Cover100% of the Sum Insured for Cancer Cover
Conditions CoveredMild StageModerate StageSevere Stage
Heart Cover• Angioplasty (stenting for Coronary Arteries)
• Infective Endocarditis
v Pericardiectomy
• Renal Angioplasty
• Endarterectomy
• Minimally Invasive Surgery for Aortic Aneurysm
• Replacement of Heart Valves or Percutaneous Procedures for Repair
• Stenting and Angioplasty for Carotid Arteries
• Initial implantation of Permanent Pacemaker of Heart
• Insertion of Implantable Cardioverter Defibrillator
• Surgery to place Ventricular Assist Devices or Total Artificial Hearts
• Major surgery of Aorta
• Cardiomyopathy
• Open Chest CABG
• Heart Transplant
• Repair of Heart Valves
• Myocardial Infarction i.e., First Heart Attack of a specified severity.
Cancer Cover• Carcinoma-in-situ
• Specified early stage cancer
• Complete Abdominal Hysterectomy and Bilateral Salpingo - Oophorectomy for Carcinoma-in-situ of Uterus/Carcinoma-in-situ of Cervix/Carcinoma-in-situ of Ovary
• T1NoMo Urinary Bladder Cancer/Cystectomy for Carcinoma-in-situ of the Urinary Bladder
• Orchidectomy for Carcinoma-in-situ of the testis
• Mastectomy for Carcinoma-in-situ of the breast
• Major Cancer

What Is Not Covered in PNB MetLife Mera Heart and Cancer Care Plan?

  • If the policyholder only has heart cover policy in force, then no type of cancer will be covered in the heart policy and vice versa
  • Only one claim is admissible under each illness i.e. heart cover and cancer cover under each of the stages
  • Total and cumulative liability of the insurer for the payment of claim will not exceed the sum insured as specified in the policy document
  • If two claims are made simultaneously for two different stages then claim of the highest stage will be considered

Eligibility for the PNB MetLife Mera Heart and Cancer Care Plan

ParametersMinimumMaximum
Age of Entry (in years)1865
Age of maturity (in years)2875
Sum insured cancer cover 5,00,00040,00,000
Sum insured cancer cover 5,00,00040,00,000
Sum insured for cancer and health cover 10,00,00080,00,000

Details About Premium PNB MetLife Mera Heart and Cancer Care Plan

Policy Tenure: 10 years/15 years/20 years
Premium Payment Tenure: Equal to the tenure of the policy
Premium Payment Modes: Annually/Semi-annually/Monthly

Tax Benefits PNB MetLife Mera Heart and Cancer Care Plan

The premiums paid in the plan can be used for claiming tax deduction under the provisions of Section 80D of the Income Tax Act, 1961. The tax laws are subject to revision from time to time. Hence, it is advised to speak to a tax consultant for more detail information on the present tax benefits.

PNB MetLife Mera Heart and Cancer Care Premium Calculator

With the penetration of technology and internet in the insurance industry, customers can use an online premium calculator to know the premium payable in the plan. This way the customers can know the amount of premium payable in the policy and accordingly plan their premiums payments and ensure the policy stays in force at all times. The premium calculator can be accessed online on the page which gives details about the PNB MetLife Mera Heart and Cancer Care.

Documents Required for PNB MetLife Mera Heart and Cancer Care Policy

The list of documents required for purchasing PNB MetLife Mera Heart and Cancer Care Policy is as follows

  • Proof of the age of the applicant: Voter’s ID, Passport, Pan Card, Driving License, Birth Certificate, School/ College Certificate.
  • Address Proof of the applicant:, Ration Card, Electricity Bill, Bank A/C Statement, Utility Bill, Passport, Voter’s ID, Telephone bill, Letter from Recognized Public Authority.
  • Applicant’s Photo Identity proof: PAN Card, Driving License, Voter’s ID Card, Passport, Letter from Recognised Public Authority or Public Servant with Photograph verifying the identity and residence, Aadhaar Card.
  • Latest passport size photograph of the applicant
  • Income Proof of the applicant: ITR, Salary Slip, Form 16
  • Medical Reports of the applicant– In case required from the insurance companies end.
  • Any other extra documents that the company may ask to ensure eligibility requirements

If the applicant is purchasing the policy online, they may have the option to upload the attested copy of the above mentioned documents.

Claim Process Of PNB MetLife Mera Heart and Cancer Care Plan

A) Online

In the online method, you can follow the below steps:

  • Log in to your account on the PNB Metlife insurance website
  • Provide the necessary details and documents.
  • Verify all the details
  • Submit the information

B) Offline

In the offline method, you will have to visit the insurance company’s office and collect the claim form. After you’re done filling the claim form, you will have to submit copies and originals of the various listed documents. Once the documents are accepted, you will get a receipt with a reference number. You will have to contact their customer support team with the reference number to know the status of your order.

Documents Required for Claim PNB MetLife Mera Heart and Cancer Care Policy

Here is the list of documents that may be required by the insurer for reimbursement.

  • Duly filled claim form
  • Doctor’s certificate (in specified format)
  • Original hospital bills
  • Original discharge summary
  • Original test reports and its receipts.
  • Follow-up advice for treatment after discharge.
  • For non-network hospital, mention the hospital and doctor’s registration number, if required

Conclusion

PNB MetLife Mera Heart and Cancer Care Plan is a comprehensive protection plan for people who want to ensure financial protection for their family and need access to best health care treatment. The plan offers good sum insured for the critical illness with the maximum amount of Rs. 80 lakhs, which is sufficient coverage in today’s day and age. The waiver of premium benefit takes the pressure off the policyholder and his/her family in times of crises. The monthly income is another great benefit ensuring the family has some source of income if the policyholder is not able to continue working due to critical illness.

The claim process of the PNB Met life insurance is easy and the company has a healthy incurred claim ratio. The plan offers flexibility in each and every dimension of its cover. PNB MetLife Mera Heart and Cancer Care Plan make for one of the best critical illness plans available today in the insurance market in India.

Customer Reviews PNB MetLife Mera Heart and Cancer Care Plan

I purchased this plan last year through PNB Metlife Insurance branch. The flexibility of policy term, premium payment, and various other features made it stand out from other plans available in the market. The enrolment process was fairly easy and I am happy with the purchase. - Karan Dhule

In times where cancer cases are growing year on year, especially in women, made me want to go for a plan that will offer me the right financial protection for myself and my family. When I looked at this plan, I realised that it covers special female related cancer and my search ended. I am now totally at peace of mind knowing I am prepared to tackle the most dreadful illness out there. - Rohini Mishra

PNB MetLife Mera Heart and Cancer Care Plan was a no brainer as it offers flexibility, protection and is loaded with features. I used the online premium calculator in the plan which helped me understand how much premium I will need to pay in the course of the plan. Purchasing this plan was made very easy with detail information and good customer service of PNB Metlife Insurance Company. - Jayesh Shetty

Leave a rating!
1.0 (0 votes)