Life Insurance Products



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Product Information
Group Plans MetLife Pradhan Mantri Jeevan Jyoti Bima Yojana
Synopsis:
This is a non-linked, non-participating, one year renewable term insurance product. This product has been designed to meet the life insurance coverage requirements under the provisions of “Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)” scheme launched by Government of India.

Features:

  • Protection at nominal cost
  • Straight through processing, no medicals required
  • Ease of enrolment, simplified proposal form

Benefits:

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  • Protection at nominal cost 
  • Straight through processing, no medicals required
  • Ease of enrollment, simplified proposal form
  • In the unfortunate event of the death of the insured member during the period of cover, the sum assured will be paid
  • The Company will not be liable to make benefit payment under the policy if the death occurs during a waiting period of 45 days for reasons other than accident
Eligibility:
Particulars Boundary Conditions
Age at entry : Minimum: 18 years (age last birthday) 
Maximum: 50 years (age nearer birthday)
Maximum maturity age : 55 years (age nearer birthday)
Policy term : 1 year, on yearly renewable basis
Sum assured : Rs.200,000
Premium amount : Rs. 330 per Annum per member
Type of Cover : Voluntary participation, based on good health declaration
Maturity/Surrender : No benefits payable