PNB MetLife’s Mera Term Plan (MMTP) – A Joint Online Term insurance Plan

PNB MetLife Mera Term Plan (MMTP), a new online term insurance plan was launched recently by PNB Metlife. This is their first online term insurance policy and they are very excited with this launch. This is one of the Joint term insurance plan launched recently.

Now you can buy a 1 crore PNB Metlife term insurance plan, if you are a satisfied customer of them. MetLife is one of the World most admired life insurance company and in India they have tied up with PNB to enter into life insurance business. Although the insurance market is flooded with online term insurance plans, but still MetLife Mera Term Plan (MMTP) is launched with couple of features to note. Let’s discover the key highlights of PNB MetLife online term plan.

PNB MetLife Mera Term Plan (MMTP) Key Highlights

Under MetLife Mera Term Plan (MMTP), one can get various benefits as per options selected. This policy is divided in to 4 types and as per the type chosen you will get the benefits defined.

  • Option 1 : Full Lump sum payout
  • Option 2 :Payout as lump sum + Regular monthly income
  • Option 3 :Payout as lump sum + Increasing monthly income
  • Option 4 :Payout as lump sum + Regular monthly income till child turns 21

PNB MetLife’s Mera Term Plan – A Joint Term Insurance Plan in India

The best part of this policy is, this policy can be done both for you and your spouse. This is called joint term insurance policy. Under this option, in case your partner died, you will continue to get your life cover without paying any further premiums.

As per the option you opt, the premium amount will vary. E.g for a 1 crore life insurance policy, one has to pay Rs. 683/month for option 1, but Rs 567/month for option 4. MetLife Mera Term Plan (MMTP) Few of the key highlighted points of this PNB MetLife online term plan are

  • One can add his/her spouse under this policy.
  • In case you want to go for increasing monthly income option, then an interest rate of 12% per annum will be applied.
  • Option to increase sum assured depending on life stages.
  • One can cover child’s education expense as well by the child benefit option till he/she turns 21 years.
  • One can build his/her own financial protection plan as per individual need.

How to buy PNB MetLife Mera Term Plan (MMTP) online

Buying a term insurance policy online has become very easy these days. The companies are preparing such easy to understand websites that one can easily follow the steps and buy insurance policy online.

  • To buy MetLife Mera Term Plan (MMTP) online, simply visit and provide your personal information online.
  • Provide correct information in all places, otherwise your insurance claim may get rejected in future.
  • As soon as you fill up the details, simply click on get quote button. You will find the details about your premium details as per the sum assured declared. You can use PNB MetLife’s Mera Term Plan premium calculator to find out the suitable premium amount as per your insurance need.
  • You can also be able to choose from various options and if satisfied then finally pay online.

So are you planning to buy the MetLife Mera Term Plan (MMTP)? Share your views about this PNB Metlife term insurance plan.

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  1. Hi Santanu,
    Thanks for writing this. I am 32 year old non smoker and want to know it is really reliable to go with PNB metlife. I guess it is OK. As the premium can be customized and settlement ratio is also 93% I have chosen it. I am in free look period however I want to be double sure.

    Please suggest!


    1. Yes, online term plans are really good to go for and their settlement ration is also good. Just look for how many policies they have sold and settled down. A high settlement ratio doesn’t mean that they have high volume of policies.

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