Delhi, India | 20th December 2025: PNB MetLife India Insurance Company Limited (PNB MetLife), one of India’s leading life insurance providers, has introduced the PNB MetLife DigiProtect Term Plan (UIN: 117N141V01), a digital-first term insurance solution designed specifically for salaried individuals.
Launched in collaboration with Policybazaar, the plan is available entirely online, making life insurance more accessible to working professionals across Tier 2 and Tier 3 cities. The product is an individual, non-linked, non-participating pure term insurance plan, offering simplicity, flexibility, and affordability for India’s growing salaried population.
As part of its launch offering, policyholders can avail an exclusive first-year discount of up to 21% on the premium, significantly reducing the initial cost of coverage.
Designed for India’s Evolving Salaried Workforce
The PNB MetLife DigiProtect Term Plan goes beyond conventional life insurance by addressing the evolving financial needs of salaried individuals who are balancing rising aspirations, lifestyle commitments, and long-term responsibilities such as education, home ownership, and retirement planning.
Key Features of PNB MetLife DigiProtect Term Plan
- Comprehensive Life Cover: Provides life insurance protection along with accelerated benefits in the event of terminal illness.
- Special Exit Value: Allows policyholders to exit the policy before maturity and receive a refund of all premiums paid, at no additional cost.
- Premium Break Option: Enables customers to pause premium payments for up to 12 consecutive months after completing three policy years. This option is available once every five years.
- Express Claim Payout: An accelerated benefit of ₹3 lakh payable within one working day of claim registration, after a three-year waiting period from policy inception or revival, subject to document submission.
- Flexible Payout Options: Nominees can choose to receive the death benefit as a lump sum, monthly income, or a combination of both.
- Attractive Premium Discounts: Exclusive first-year discount enhances affordability for salaried professionals.
Addressing India’s Life Protection Gap
Commenting on the launch, Sameer Bansal, Managing Director & CEO, PNB MetLife, highlighted the urgency of improving insurance penetration in India.
He stated that India faces a 91% life protection gap, meaning only ₹9 is covered for every ₹100 required to financially secure families. This gap is particularly pronounced among salaried individuals dealing with increasing financial obligations. The DigiProtect Term Plan, he said, aims to help working professionals safeguard their families while building long-term financial security.
Strengthening Digital Insurance Access
Sarbvir Singh, Joint Group CEO, PB Fintech, emphasized that India’s salaried middle class remains one of the most underinsured segments. He noted that a digital, feature-rich term plan like the PNB MetLife DigiProtect Term Plan delivers affordability, flexibility, and transparency, especially in regions where insurance access has historically been limited.
Through this collaboration, Policybazaar and PNB MetLife aim to make quality term insurance easier to buy, understand, and maintain for salaried individuals across India.
