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The point is, given a choice we’d always want only the best for our families. Similarly, when it comes to term insurance cover, we must not settle for less.

Term Plans with Maximum Happiness Quotient

Term insurance plans are the simplest and most cost-effective insurance products. These plans are designed to ensure that in the event of the policyholder's death, the family gets the sum assured (the cover amount). Generally, the premium paid in a term plan is counted as money spent if the policyholder survives the tenure.

This is true with the term insurance plans that cover the policyholder up to the age of 60 years, or even up to the maximum age of 75. What we are looking for, is a term plan that best suits our analogy of 100% happiness. Meaning, a term plan that not just covers your family while they are financially dependent on you, but also helps you leave a legacy behind.

PNB MetLife’s ‘Mera Term Plan’ is one such plan, that gives you coverage up to 99 years, basically covering your whole life. Here’s how:

• Upon your demise before the end of the policy term (99 years), the sum assured will be paid to your nominee as the death benefit
• You can increase your current term insurance cover after your marriage and birth of child without undergoing medical examination

So, how does this plan fulfils the objective

1. You get to choose the payout option to support your family’s future
   The payout option that you choose will determine the financial security of your family in your absence. Based on your family’s needs you can decide whether you want to go for a lump sum payout option, or lump sum + monthly income option, or lump sum + increasing monthly income, or lump sum + monthly income till your child is 21 years.