PNB MetLife India Insurance Company Limited, one of India’s leading life insurance companies, has launched the PNB MetLife DigiProtect Term Plan, a fully digital term insurance plan designed specifically for salaried individuals. The plan, offered in collaboration with Policybazaar, provides comprehensive life cover, including accelerated benefits in case of terminal illness, and a range of flexible features to cater to the evolving financial priorities of India’s growing salaried population.
The plan’s key features include a first-year discount of up to 21% on the first premium, a special exit value option, and a premium break option that allows policyholders to pause premium payments for 12 consecutive months after completing three years of policy. Additionally, the plan offers an express claim payout of Rs. 3 lakh within one working day upon claim registration, subject to submission of all mandatory documents.
The plan is designed to address the significant life protection gap in India, which currently stands at 91%, with only Rs. 9 of every Rs. 100 required to financially secure families being covered. The gap is particularly significant for the salaried segment, who face rising financial responsibilities, including supporting dependents, funding children’s education, and planning for home ownership and retirement.
According to Sameer Bansal, Managing Director & CEO of PNB MetLife, the company aims to help salaried individuals secure their families as they build their dreams. Sarbvir Singh, Joint Group CEO of PB Fintech, added that the plan offers affordability, flexibility, and clarity, making it an attractive option for salaried individuals across the country, particularly in Tier 2 and Tier 3 cities where access to insurance has historically been limited.
PNB MetLife India Insurance Company Limited is a leading life insurance company in India, with a strong presence in 178 branches and access to customers in over 20,000 locations through bank partnerships. The company offers a comprehensive insurance solutions portfolio covering child education, family protection, long-term saving, and retirement. Policybazaar, India’s largest insurance broker, has partnered with PNB MetLife to make the plan available to its customers, with a focus on expanding meaningful protection and making quality term insurance easier to buy, understand, and sustain.