PNB MetLife Century Plan

Individual, Non-linked, Participating, Savings, Life Insurance Plan

1. Part A
1.1 WELCOME LETTER Date: 06/Nov/2024
Mr. Gowrav Pavanaskar #Sesh_DSign#
Radhakrishna Pavanaskar
2-44, Pedamale house Loretto,,
Amtady,Dakshina Kannada,
Bantval,
Karnataka, YOUR KEY POLICY DETAILS
DAKSHINA KANNADA,
574211 PLAN PNB MetLife Century Plan
Mobile No : 8105854730 SUM ASSURED ` 600,000
Policy No : 25796675 Sourcing Branch : Home Office
PREMIUM ` 62,700

LT PREMIUM PAYING YEARS 08

SP/2952374/15577 AY359685476IN FREQUENCY Every Year

Dear Mr. Gowrav Pavanaskar, (Client ID: 62464469)

Welcome to the PNB MetLife family! Thank you for choosing a PNB MetLife product and showing your confidence in us. At PNB MetLife, we value
your patronage and are committed to offering you the best services always.

PNB MetLife brings together financial strength, credibility and reliability of MetLife Inc., one of the leading global providers of insurance, annuities and
employee benefit programs, serving more than 90 million customers for the last 140+ years and Punjab National Bank, a leading bank in India serving
more than 80 million customers in the last 120+ years. You can be assured that you have chosen the right partner for life.

This booklet contains your Policy Document, Customer Information Sheet along with Business Illustration, other related information, and a copy of your
Proposal Form. Please preserve this document as it would be required if the need arises.
Free look Provision:
Please go through the terms and conditions of your Policy very carefully. If you have any objections to the terms and conditions of your Policy, you
may cancel the Policy by giving a written notice to us within 30 days beginning from the date of receipt of policy document whether received
electronically or otherwise, stating the reasons for your objection and you will be entitled to a refund of the premium paid, subject only to a deduction of
a proportionate risk premium for the period of cover and the expenses, if any, incurred on medical examination and stamp duty charges.

For any queries or concerns you can contact us via the touch points given below, we are always there to help you. For easy reference sourcing details
of your policy are mentioned below.

Channel The Karnataka Bank Ltd

Name AKASH RAMA Code 30164666
Mobile /
KBLBANCASSURANCE@KTKBANK.CO
E-Mail ID Landline 7484875331
M
No.
We look forward to being your partner in this wondrous journey of life.

Yours Sincerely,
PNB MetLife India Insurance Co. Ltd.

Mahendra Munot
Chief Operations Officer
“Kindly note that we have corrected/modified your personal details in accordance with the KYC documents submitted by you to
us along with the proposal form and our internal records have also been updated (wherever necessitated) accordingly.”
Signature Not Verified
Stamp Duty of Rs. 120.00 (One Hundred Twenty Rupees only.) (In Words) paid to Maharashtra Government through consolidated Stamp Duty via
Digitally signed by MAHENDRA PRAKASHCHAND
Certificate No. LOA/ENF-1/CSD/81/2024/1950
MUNOT dated 10/04/2024
Date: 2024.11.07 11:48:43 IST
Reason: Secure Document
Location: Mumbai,India

2952374 Page 1-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

CUSTOMER INFORMATION SHEET / KNOW YOUR POLICY

This document provides key information about your policy. You are also advised to go through your policy document.

Sl. Title Description Policy Clause

No. (Please refer to applicable Policy Clause Number in next column) Number

1. Name of Insurance PNB MetLife Century Plan (UIN 117N129V02)

Product / Policy

2. Policy Number 25796675

3. Type of Insurance Non-Linked, Participating, Life Insurance Plan offering fixed benefits
Product / Policy
4. Basic Policy Details Plan Option - Super Income
Family Care Benefit - NO
Maturity Age - AGE 80 years
Installment Premium (excluding GST) -Rs. 62700.00 Policy
Mode of premium payment - Annual Schedule
Basic Sum Assured of - Rs. 600000.00
Premium payment term - 08 years
Policy term - 53 years
5. Policy Coverage/ The policy offers three Plan options, and Your chosen plan is displayed in
benefits payable Policy Schedule. 3.2.1,
(1) Super Income Option 3.2.2 and
(2) Smart Income Option 3.2.3
(3) Future Income Option
All above-mentioned plan options offer Survival Benefit (3.2.1), Maturity Benefit
(3.2.2) and Death Benefit (3.2.3)

Family Care Benefit (3.2.3.1) is available as a sub-option within all the three 3.2.3.1
plan options.
6. Options available (in case of Linked Insurance Products) - Not applicable
7. Option available (in case of Annuity product) – Not applicable
8. Riders opted, if any Rider details are mentioned in the Rider CIS 3.3.1
9. Exclusions (events Suicide Exclusion (6.8.1)
where insurance Death caused due to Suicide within first 12 months
coverage is not 6.8.1
payable), if any
10. Waiting/lien Period, Not Applicable
if any
11. Grace Period 15 days for Monthly and 30 days for other frequencies 3.4.3
12. Free Look Period 30 days 4.1
13. Lapse, paid-up and 4.3.1 Lapse: If the first full Policy year’s premium is not paid, the policy shall 4.3.1,
revival of the Policy lapse at the end of the Grace Period and the risk cover and rider benefits, if
any, will cease immediately.
4.3.2 Paid-up: Policy will become paid up on payment of one full year premium 4.3.2 and
payment and no further payments.
4.5 Revival: Lapsed or paid-up policy can be revived within a period of 5 years
from the date of first unpaid premium by paying all outstanding premium along 4.5
with interest if any

2952374 Page 2-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

14. Policy Loan, Up to 80% of the surrender value as per terms & conditions. 4.2
if applicable
15. Claims / Claims i. Turn Around Time (TAT) for claims settlement and brief procedure - 6.3
Procedure For cases not warranting investigation – 15 days from date of intimation
of claim
For cases warranting investigation – 45 days from date of intimation of
claim
ii. Helpline/Call Centre number - 1800 425 6969 (Toll-free)
iii. Contact details of the insurer - 1st Floor, Techniplex -1, Techniplex
Complex, Off Veer Savarkar Flyover, Goregaon (West),
Mumbai – 400062.
Link for downloading claim form and list of documents required including bank
account details.
https://www.pnbmetlife.com/downloads/claims-forms/english.html
16. Policy Servicing • Turn Around Time (TAT) 6.15
o Financial and Non - financial - 7 calendar days
• Helpline/Call Centre number - 1800 425 6969 (Toll-free)
• Contact details of the insurer - 1st Floor, Techniplex -1, Techniplex .
Complex, Off Veer Savarkar Flyover, Goregaon (West), Mumbai – 400062.
Link for downloading applicable forms and list of documents required including
bank account details -
https://www.pnbmetlife.com/downloads/serviceform/english.html

17. Grievances / • Contact details of Grievance Redressal Officer of the Insurer: 7.1
Complaints • Call 1800-425-69-69 (Toll free)
• Email at Indiaservice@pnbmetlife.co.in
• Write to our Grievance Redressal Department PNB MetLife India
Insurance Co. Ltd, Unit no. 302, 3rd floor, Tower-3, Worldmark, Village
Maidawas,Sector 65, District Gurugram, Haryana – 122018

For any escalation with the resolution provided by any of the above touch
points, you may, write to our Grievance Redressal Officer at
gro@pnbmetlife.co.in

• Link for registering the grievance with the insurer’s portal -

https://www.pnbmetlife.com/grievance-cell/grievance-redressal.html

• Ombudsman Details: Please refer to https://www.cioins.co.in/Ombudsman

for the list of Insurance Ombudsman

Declaration by the Policyholder;

I have read the above and confirm having noted the details.

Place:

Date:
(Signature of the Policy Holder)

Note:

In case of any conflict, the terms and conditions mentioned in the policy document shall prevail.

2952374 Page 3-55

 PNB MetLife Century Plan
Individual, Non-linked, Participating, Savings, Life Insurance Plan
1.2. Policy Preamble
PNB MetLife Century Plan
An Individual, Non-linked, Participating, Savings, Life Insurance Plan

This is a contract of insurance between You and PNB MetLife India Insurance Company Limited. This contract of insurance has
been issued by us on receipt of the premium and is based on the details in the Proposal Form together with the other information,
documentation and declarations received from you for effecting a life insurance contract on the life of the person named in the
Schedule below.

We agree to pay the benefits under this Policy on the occurrence of the insured event described in Part C of this Policy, subject to
the terms and conditions of the Policy.

On examination of the Policy, if you notice any mistake or error, please return the Policy document to us in order that We
may rectify it..

Signed by and on behalf of PNB MetLife India Insurance Company Limited

Mahendra Munot
Chief Operations Officer

1.3. Schedule

Name of the Plan PNB MetLife Century Plan

Nature of the Plan Individual, Non-linked, Participating, Savings Life Insurance Plan
UIN 117N129V02
Proposal 746501707 Policy 25796675 Date of 29/10/2024 Issuing Mumbai
form number Number Issue Office

1. Details of the Policy Holder and Life Assured

Name of the Policyholder Mr. Gowrav Pavanaskar Gender Male Date of Birth 14/01/1997

Name of Life Assured Mr. Gowrav Pavanaskar Gender Male Date of Birth 14/01/1997

Address of Policyholder 2-44, Pedamale house Loretto,, Amtady,Dakshina Kannada, Bantval, Karnataka, , 574211

Telephone Number

Mobile Number 8105854730

Address of Life Assured 2-44, Pedamale house Loretto,, Amtady,Dakshina Kannada, Bantval, Karnataka, , 574211

Age admitted of the Life

Yes
Assured

2. Policy Details

Base Plan PNB MetLife Century Plan

Survival Benefit Option Super Income Maturity Age (years) AGE 80

Premium Payment Term (Yrs.) 08 Family Care Benefit NO

Policy Term (Yrs.) 53

Basic Sum Premium Installment Goods & Services Instalment premium Annualized
Assured (Rs.) Payment Mode Premium (Rs.) Tax (Rs.)* including GST (Rs) Premium (Rs)

600000.00 Annual 60000.00 2700.00 62700.00 60,000.00

* Goods and Services Tax at prevailing rates. You will be responsible to pay any new or additional tax/levy or any changed
amount of tax/ cess being made applicable/ imposed on the premium(s) by any competent authority.
2952374 Page 4-55
 PNB MetLife Century Plan
Individual, Non-linked, Participating, Savings, Life Insurance Plan
3. Rider Details

Premium Instalment
Installment Goods & Annualized
Rider Sum Policy Term Payment Premium
Rider Name Premium Services Premium
Assured (Rs.) (years) Term including
(Rs.) Tax (Rs.)* (Rs)
(years) GST (Rs)

NA

4. Contract Details

Date of Inception of Policy 29/10/2024 Premium Due Date 29/10/2025

Date of Commencement of Risk 29/10/2024 Premium Payment Type Limited Pay

Policy Anniversary date 29/10/2025 Last Premium Due Date 29/10/2031

Total Installment Premium

Policy currency INR (incl. of rider(s) premium, any 62700.00
extra premium, taxes & cess)

Policy Maturity Date 29/10/2077

Survival Benefit payout mode YEARLY

Date of Survival Benefit Payout

27/12
(chosen)

Survival Benefit Start Date 27/12/2025 Survival Benefit End Date 29/10/2077

5. Details of Agent/Intermediary

Name AKASH RAMA

License/Registration number 8040254

Phone number -

Address -

Email address -

Special provisions/options (if any)

6. Nominee details

Relationship with Life

Name(s) of the Nominee Age Gender Share(s) %
Assured
1) Mrs. Annapoorna Pavanaskar Mother 55 Female 100.00

7. Appointee details (Only in case Nominee is less than 18 years of Age)

Appointee name Relationship with Nominee Age Gender

- - - _

8 E-Policy Document

Your soft copy of Policy Document is available in the customer portal. You can access through www.pnbmetlife.com >
Customer login > Provide user ID and password (for existing customer), else click New User (for new customer)

2952374 Page 5-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating, Savings, Life Insurance Plan

Key Feature Document

Option 1: Super Income – Provides Cash Bonus, if declared, every year from the end of 1st Policy
Year until death or end of Policy Term, whichever is earlier, in the mode of Survival Benefit
payout opted subject to a minimum Cash Bonus Rate during Premium Payment Term as described
in Part C
Option 2: Smart Income - Provides Cash Bonus, if declared, every year from the end 1st Policy
Survival
Year until death or end of Policy Term, whichever is earlier as described in Part C, in the mode
Benefit Payout
of Survival Benefit payout opted.
Options
Option 3: Future Income – Provides Cash Bonus, if declared from the end of the 15th Policy Year
until death or end of Policy Term whichever is earlier. Fixed Income pay-out will begin from the
end of the 15th Policy Year until the Maturity Date as specified in the Schedule or a fixed period
or until death, whichever is earlier, subject to a minimum Cash Bonus Rate during Fixed Income
Payout Period as described in Part C, in the mode of Survival Benefit payout opted.

Maturity Option 1: Till age 80 years

Maturity Option 2: Till age 100 years
On survival of the Life Assured till the Maturity Date as specified in the Schedule, provided that
Maturity
the Policy is in In-force Status, the Policyholder will receive aggregate of:
Benefit
Sum Assured on Maturity;
Options
Accrued Cash Bonuses, if not paid earlier;
Accrued Fixed Income, if applicable and not paid earlier;
Terminal Bonus, if declared.
In the event of the unfortunate death of the Life Assured during the Policy Term provided that the
Policy is still In-force Status on the date of death, the Nominee shall receive Death Benefit as
below;
Death benefit equal to the following shall be payable as lump sum
Sum Assured on Death plus;
Accrued Cash Bonuses, if not paid earlier plus;
Accrued Simple Reversionary Bonus less Sum of all Fixed Incomes already paid (if applicable)
plus
Interim Cash Bonus (if any) plus;
Death Benefit Terminal Bonus on death (if declared)

The Policy terminates with the payment of Death Benefit except where Family Care Benefit is in
force.

Where Family Care Benefit is chosen (as specified in Schedule), then in case of death of Life
Assured all future Installment Premiums (if any) shall be waived off and Sum Assured on Death
shall be payable as lumpsum and all future Survival Benefits & Maturity Benefit as defined in
Part C shall also be payable to the Nominee.

There is an option with Policyholder to defer Survival Benefit Payouts and accrue them instead
Flexibility to by giving the Company a written notice at least 30 days before the next Survival Benefit Payout.
accumulate The Policyholder can withdraw the accrued Cash Bonuses and/or Fixed Income partly/ fully at
Survival any point during the Policy Term. If the unpaid Survival Benefits are not taken by the Policyholder
Benefit payout during the Policy Term, the same shall be payable along with benefits payable at the time of
termination of the Policy in the form of death, maturity or surrender.

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 6-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating, Savings, Life Insurance Plan

Flexibility to There is an option to receive Survival Benefit Payouts as yearly, half yearly, quarterly or monthly
Choose mode installments at any point during the Point Term by giving the Company a written notice at least
of Survival 30 days before the next Policy Anniversary. The mode of Survival Benefit Payout as requested
Benefit payout will be applicable from next Policy Anniversary.
The option selected at inception to receive the benefits on any one date, succeeding the default
date of Survival Benefit payout, is specified in the Schedule.
Flexibility to
For Future Income Option: The selected date of Survival Benefit can be changed before the start
choose the date
of Survival Benefit payout by giving the Company a written notice at least 30 days before Survival
of survival
Benefit Payout Start Date. The chosen date of receiving Survival Benefit payout must be before
benefit payout
the date of immediately succeeding Policy Anniversary.

Key Service Features

Nomination shall be allowed as per the provisions of Section 39 of the Insurance Act, 1938
Nomination
as amended from time to time.
Assignment shall be allowed under this policy as per the provisions of Section 38 of the
Assignment
Insurance Act, 1938 as amended from time to time.
The maximum amount of Policy loan that You can avail will be limited to 80% of the

Policy Loan Surrender Value of Your Policy at the end of the relevant Policy Year less any unpaid
Instalment Premiums for that year and loan interest accrued.
You may opt for any of the following Riders at inception or at any Policy Anniversary during
premium payment term. Each Rider shall be subject to the terms and conditions of that rider:
a) PNB MetLife Accidental Death Benefit Rider Plus (UIN: 117B020V04) – This
rider provides additional protection over and above the Death Benefit under this

Riders Policy in the event of the death of the life assured in an Accident.
b) PNB MetLife Serious Illness Rider (UIN: 117B021V04) - This rider provides
additional protection over and above the Death Benefit under this Policy in the event
of the life assured being diagnosed with any of the 10 critical illnesses listed in the
rider.
Premium payment can be made by cash, cheque, credit card, ECS, online payment, demand
Premium Payment
draft, and direct debit or any other permissible mode as prescribed by the IRDAI.
Customer Service
1800 425 6969 (Toll-free)
No.
Visit us www.pnbmetlife.com
Grievance Redressal Email us: indiaservice@pnbmetlife.co.in
Mechanism

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 7-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating, Savings, Life Insurance Plan

Write to us:
PNB MetLife India Insurance Co. Ltd,
Unit No. 101, First Floor, Techniplex I,
Techniplex Complex, Off Veer Savarkar Flyover,
S.V. Road, Goregaon (West),
Mumbai – 400 062, Maharashtra.
022 - 4179 0300 (8am -8pm)

For detailed benefits, please refer to policy terms and conditions

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 8-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating, Savings, Life Insurance Plan

2. Part B

2.1. Definitions applicable to your policy

The words or terms below that appear in this Policy in initial capitals and bold type will have the specific meaning given
to them below. These defined words or terms will, where appropriate to the context, be read so that the singular includes
the plural, and the masculine includes the feminine.

1. “Age” means age as on the last birthday; i.e. the age of the Life Assured in completed years as on the Date of
Inception of the Policy and is as shown in the Schedule.

2. “Annualised Premium” means the premium amount payable in a Year excluding taxes, rider premiums and
underwriting extra premium on riders, if any.

3. “Appointee” means the person named in the Schedule to receive payment under this Policy, if the Nominee is a
minor at the time payment becomes due under this Policy

4. “Assignee” means the person to whom the rights, Benefits and liabilities under this Policy are transferred by virtue
of an assignment under Section 38 of the Insurance Act, 1938, as amended from time to time.

5. “Assignment” means the process of transferring the rights, Benefits and liabilities to an “assignee”. Assignment
should be in accordance with the provisions of Section 38 of insurance act, 1938 as amended from time to time.

6. “Basic Sum Assured (BSA)” means the absolute amount specified in the Schedule which is the minimum amount
assured to be paid on the death of the Life Assured. The Basic Sum Assured is equal to ‘10 times of the Annualised
Premium’.

7. “Benefit Illustration” means an Annexure along with the Schedule that illustrates the premiums, guarantees,
returns, benefits and values of the proposed policy. This Benefit Illustration complies with IRDAI Regulations and
contains clear disclosure of both guaranteed and non-guaranteed benefits, if any, of the Policy

8. “Benefits” means the Death Benefit, Maturity Benefit, Surrender Benefit or any other benefit, as the case may be,
applicable in the terms and conditions of this Policy

9. “Cash Bonus” means the bonus that may be declared and paid by Us at the end of each Policy Year. The Cash
Bonus rate, if declared, will be expressed as a percentage of the Annualised Premium. Cash Bonus will be paid
only if the Policy is in In-force Status.

10. “Company/Us/We/Our” means PNB MetLife India Insurance Co. Ltd

11. “Date of Commencement of Risk” means the date on which the risk under the Policy and Riders, if opted, comes
into effect and is as specified in the Schedule. The commencement of risk cover on the Life Assured shall depend
on the age of the Life Assured on the Date of Inception of the Policy.

12. “Date of Inception of the Policy” means the date on which this Policy is issued after We have accepted the risk
under the Proposal Form. The Date of Inception of the Policy is specified in the Schedule.

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 9-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating, Savings, Life Insurance Plan

13. “Death Benefit” means the benefit, which is payable on death of life assured, as stated in the policy document.

14. “Family Care Benefit” means the benefit as selected by the Policyholder at inception of the Policy only and as
specified in the Schedule; further described in Section 3.2.3.1. Once chosen, the Family Care Benefit cannot be
opted out at anytime during the Policy Term. The Family Care Benefit is subject to Board Approved Underwriting
Policy.

15. “Fixed Income Payout Period” means the period commencing from the end of the 15th Policy Year during which
the fixed income payment is made and as specified in Clause 3.2.1 of Part C.

16. “Grace Period” for other than single premium policies” means the time granted by the insurer from the due date
of payment of premium, without any penalty or late fee, during which time the policy is considered to be in-force
with the risk cover without any interruption, as per the terms & conditions of the policy. The grace period for
payment of the premium for all types of life insurance policies shall be fifteen days, where the policyholder pays
the premium on a monthly basis and 30 days in all other cases. .

17. “In-force Status” means a condition during the term of the Policy, wherein the Policyholder has paid all the due
Installment Premiums under the Policy.

18. “Installment Premium” means the amount stipulated in the Schedule and paid at regular intervals (yearly/half
yearly/quarterly or monthly mode as shall be applicable) by the Policyholder as consideration for acceptance of
risk and benefits specified as such in the Policy Document.

19. “IRDAI” means the Insurance Regulatory and Development Authority of India

20. “Lapse” means a condition wherein the Policy has not acquired Surrender Value and the due Installment
Premiums is not paid for the first full Policy Year at the end of the applicable Grace Period, as required under the
Policy, thereby rendering this Policy unenforceable. No benefits will be paid when the Policy is in Lapse status.

21. “Life Assured” means the person, named as such in the Schedule, on whose life, the insurance cover is effected
in the terms of this Policy.

22. “Maturity Benefit” means sum assured on maturity, any additional and accrued benefit, which is payable on
maturity, as stated in Part C of this Policy Document.

23. “Maturity Date / Policy Maturity Date” means the date specified in the Schedule on which the Maturity Benefit
is paid to the Policyholder.

24. “Nomination” means the process of nominating a person(s) in accordance with provisions of Section 39 of the
Insurance Act, 1938 as amended from time to time.

25. “Nominee” means the person or persons nominated under Section 39 of the Insurance Act, 1938, as amended
from time to time, by the Policyholder under this Policy and is(are) and named and authorized in the Policy
Document to receive the claim benefits payable under this Policy.

26. “Participating” means the Policy entitled to share in surplus (profits) during the term of the policy as per section
49 of the Insurance Act, 1938 as amended from time to time.

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 10-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating, Savings, Life Insurance Plan

27. “Payout Mode” means the frequency of paying Survival Benefits at the end of period, in either Yearly, Half-
Yearly, Quarterly or Monthly instalments as specified in the Schedule.

28. “Reduced Paid-up/Paid-up status” means a condition during the term of the Policy, wherein the premiums have
been paid in full for the first Policy Year, and the remaining due premiums have not been paid, rendering the
Policy to continue at a reduced level of benefits, as specified under the Policy

29. “Policy” means this PNB MetLife Century Plan Policy, which is the evidence of the contract between PNB
MetLife India Insurance Co. Ltd and You.

30. “Policy Anniversary” means the start date of every subsequent Policy Year.

31. “Policy Document” means this document, which is the evidence of the contract between PNB MetLife India
Insurance Co. Ltd and the Policyholder.

32. “Policy Term” means the entire term of the policy as specified in the Schedule.

33. “Policy Year” means a period of 12 consecutive months starting from the Date of Inception of the Policy as stated
in the Schedule and ending on the day immediately preceding the following Policy Anniversary date and each
subsequent period of 12 consecutive months thereafter.

34. “Policyholder/ Proposer/You” means the person specified as such in the Schedule or such other person, who
may become the holder of this Policy in respect of the terms and conditions of this contract or by virtue of operation
of law. In the event the Proposer is different from the Life Assured, then the Proposer shall be the Policyholder.

35. “Premium Payment Term” means the period or the term of the Policy contract during which the Policyholder
is required to pay the due Installment Premiums in full with respect to the Policy, to Us.

36. “Prevailing rate of interest” means the applicable rate of interest as declared by the Company from time to time
that shall be charged to the Policyholder on specified transactions related to the Policy, as specified under the
Policy Document.

37. “Proposal Form” means a form to be filled in by the prospect in physical or electronic form, for furnishing the
information including material information, if any, as required by the insurer in respect of a risk, in order to enable
the insurer to take informed decision in the context of underwriting the risk, and in the event of acceptance of the
risk, to determine the rates, advantages, terms and conditions of the cover to be granted.

38. “Regulation” means rules and guidelines issued by the IRDAI from time to time

39. “Revival " means restoration of the Policy, which was discontinued due to the non-payment of Installment
Premium, with all the benefits mentioned in the Policy Document, with or without Rider benefits if any, upon the
receipt of all the Installment Premiums due and other charges/late fee if any, during the revival period, as per the
terms and conditions of the Policy, upon being satisfied as to the continued insurability of the Insured or
Policyholder on the basis of the information, documents and reports furnished by the Policyholder, in accordance
with the Board approved underwriting policy.
40. “Revival Period” means a period of 5 consecutive complete years from the date of first unpaid Installment
Premium.

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 11-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating, Savings, Life Insurance Plan

41. “Rider” means the insurance cover(s) added to a base product for additional premium or charge. The Schedule
will specify if any Riders are additionally opted and in force under the Policy.

42. “Rider Benefits” means an amount of benefit payable on occurrence of a specified event covered under the rider,
and is an additional benefit to the benefit under the base product.

43. “Schedule” means the attached Schedule that provides your Policy benefits, the terms of the contract and details
provided by You, along with all its annexes, issued by Us for this Policy. The Schedule also includes any
amendments to the attached Schedule which may be issued by Us from time to time.

44. “Simple Reversionary Bonus” means a bonus which may be declared by Us under the Policy on each Policy
Anniversary commencing from the first Policy Year till 14th Policy Year. Simple Reversionary Bonus will be
declared only if the Policy is in In-force Status. The Simple Reversionary Bonus will be declared as a percentage
of Annualized Premium. Once a Simple Reversionary Bonus is declared it accrues under the Policy and is
guaranteed to be paid in accordance with the terms and conditions of the Policy.

45. “Sum Assured on Death” is the absolute amount of benefit which is guaranteed to be payable by Us on death of
the Life Assured in accordance with the terms and conditions of this Policy.

46. “Sum Assured on Maturity” means the absolute amount of benefit which is guaranteed to become payable at the
end of the policy term i.e. on maturity of the policy, which is equal to sum of all Annualized Premiums payable
during Premium Payment Term plus additional benefit mentioned under Section 3.4.6, if applicable.

47. “Surrender” means the complete withdrawal or termination of the entire policy contract.

48. “Surrender Value” means an amount, as specified under the Policy, that becomes payable on surrender of the
entire Policy during its term in accordance with the terms and conditions of this Policy.

49. “Survival Benefit” means the benefit payable, as per the terms and conditions of the Plan Option chosen under
the Policy, until death of the Life Assured or end of the Policy Term, whichever is earlier.

50. “Terminal Bonus” a bonus which may be declared by Us under the Policy at the earlier of completion of Premium
Payment Term or 10 Policy Years. Terminal Bonus will be declared only if the Policy is in In-force Status. The
Terminal Bonus will be declared as a percentage of the Basic Sum Assured. Terminal Bonus will be payable in
the event of death of Life Assured, or maturity or surrender, whichever is earlier.

51. “Total Premiums Paid” means the total of all the premiums paid under the base product, excluding any extra
premium and taxes, if collected explicitly.

52. “You/Your” means the Policyholder named in the Schedule.

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 12-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating, Savings, Life Insurance Plan

3. Part C

Policy Features, Benefits & Premium Payment Conditions

3.1. Policy Features

PNB MetLife Century Plan is an Individual, Non-linked, Participating, Savings, Life Insurance plan that offers Sum
Assured on Death for Whole Life (till age 80 or 100 years, as chosen) along with Survival Benefits during Policy Term
and Maturity Benefit at the end of Policy Term as listed below. The benefits will be payable subject to the terms and
conditions of this Policy, including the Premium Payment Conditions mentioned in this document.

3.2. Policy Benefits

3.2.1. Survival Benefit

On survival of the Life Assured, provided that the Policy is in In-force Status and all due Installment Premiums have
been received in full by Us, the following benefit will be payable in accordance with the Plan Option specified in the
Schedule:

Option 1: Super Income – The Survival Benefit in the form of Cash Bonus, if declared, shall be payable every year
from the end of 1st Policy Year until death of the Life Assured or until Maturity Date as specified in the Schedule,
whichever is earlier, in the mode of Survival Benefit payout opted. Under this option, Cash Bonus (if declared) payable
Premium Payment Term shall be subject to minimum Cash Bonus rate (as a % of Annualized Premium) as below –

Premium Payment Term

Family Care
Benefit Less than 10 10 years and
years above
Without 5% 10%
With 2% 5%

No Guarantee shall be applicable for Cash Bonuses, if declared after completion of Premium Payment Term.

Option 2: Smart Income - The Survival Benefit in the form of Cash Bonus, if declared, shall be payable every year
from the end of 1st Policy Year until death of Life Assured or until the Maturity Date as specified in the Schedule,
whichever is earlier, in the mode of Survival Benefit payout opted.
No Guarantee shall be applicable for Cash Bonuses (if declared) during the Policy Term.

Option 3: Future Income – Under this option, Simple Reversionary Bonus, if declared will accrue at each policy
anniversary from 1st policy year till 14th policy year. The Survival Benefit shall be payable every year in the form of
Fixed Income from the end of 15th Policy Year until the Maturity Date as specified in the Schedule or a fixed period or

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 13-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating, Savings, Life Insurance Plan

until death of Life Assured and Cash Bonus, if declared, from the end of 15th Policy Year until the Maturity Date as
specified in the Schedule or until death of Life Assured. Fixed Income shall be paid during Fixed Income Payout Period,
as defined below.

Where,
- Fixed Income is equal to (Sum of all accrued Simple Reversionary Bonuses) divided by (Fixed Income Payout Period)
- Fixed Income Payout Period commences from the end of the 15th Policy Year and is equal to the outstanding Policy
Term until the Maturity Date as specified in the Schedule or specified fixed period, whichever is earlier. The fixed
period applicable is 30 Policy Years for maturity age option 100 years and 20 Policy Years for maturity age option
80 years.

Under this option, no guarantee shall be applicable for Simple Reversionary Bonus, if declared during first fourteen
Policy Years. Once declared, the Simple Reversionary Bonus is guaranteed and is applicable at death of the Life
Assured or Surrender or Maturity of the Policy. However, Cash Bonus (if declared) payable during Fixed Income
Payout Period, shall be subject to minimum Cash Bonus Rate (as a % of Annualized Premium) as below –

Family Care
Minimum Cash Bonus Ratee
Benefit
Without 30%
With 10%

No Guarantee shall be applicable to the declaration of future bonus rates after Fixed Income Payout Period is expired.

3.2.1.1. Flexibility to accumulate Survival Benefit payout

At any point during the Policy Term, the Policyholder shall have an option to defer the Survival Benefit(s), arising
out of declared Cash Bonuses and/ or Fixed Income, if applicable, and accrue them instead by giving the Company
a written notice at least 30 days before next Survival Benefit Payout.

The accrued Cash Bonuses and/or Fixed Income payouts will be accumulated monthly at Reverse Repo Rate
published by RBI on its website and this rate will be reviewed at the beginning of every month and will be aligned
with latest Reverse-Repo Rate published on RBI’s website. The current Reverse Repo Rate is 3.35% p.a.

The Policyholder can withdraw the accrued Cash Bonuses and/or Fixed Income partly/ fully at any point during
the Policy Term by giving the Company a written notice. If the unpaid Survival Benefits are not taken by the
Policyholder during the Policy Term, the same shall be payable along with benefits payable at the time of
termination of the Policy on death of the Life Assured, maturity or surrender of the Policy. This option can be
availed when the Policy is in In-force Status as well as in reduced paid-up status.

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 14-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating, Savings, Life Insurance Plan

The Policyholder can choose to opt in or opt out of this option at any point during the Policy Term by giving the
Company a written notice at least 30 days before next Survival Benefit Payout.

3.2.1.2. Flexibility to Choose mode of Survival Benefit payout

The Policyholder will receive Survival Benefit Payout in the Mode of Survival Benefit Payout as specified the
Schedule. The Policyholder will also have an option to alter the mode of Survival Benefit and receive Survival
Benefit as yearly, half yearly, quarterly or monthly installments at any point during the Policy Term by giving the
Company a written notice at least 30 days before the next Policy Anniversary. The mode of Survival Benefit
Payout as requested will be applicable from next Policy Anniversary.

The instalment amount of Cash Bonus and/or Fixed Income for other than annual mode shall be arrived at by
multiplying Annual Cash Bonus and/or Fixed Income by the Income Payout Factor as given below (as given
below) and will be paid out at the end of period for the chosen Payout frequency (mode).

Annual Amount refers to the Cash Bonus and/or Fixed Income paid in respect of annual frequency.

Income Payout Frequency Income Payout Factor

Annual 100% of Annual Amount
Half-Yearly 97% of Annual Amount x 1/2
Quarterly 96% of Annual Amount x 1/4
Monthly 95% of Annual Amount x 1/12
Half-Yearly, Quarterly, and Monthly mode of Income Payout shall be applicable only for Annual mode of
premium payment.

3.2.1.3. Flexibility to Choose date of Survival Benefit payout

The benefits, as per the Plan Option in-force under the Policy, will by default be payable on the Policy Anniversary.
Alternatively, the Policyholder shall receive the benefits on the chosen date Survival Benefit payout as specified
in the Schedule.
The chosen date of receiving the Survival Benefit payout must be before the date of immediately succeeding Policy
Anniversary.

The Survival Benefit payout shall be accumulated monthly at Reverse Repo Rate published by RBI on its website.
This rate will be reviewed at the beginning of every month and will be aligned with latest Reverse-Repo Rate
published on RBI’s website. The current Reverse Repo Rate is 3.35% p.a. Such accumulated Survival Benefit
shall be paid on the chosen date of Survival Benefit payout.

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 15-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating, Savings, Life Insurance Plan

3.2.2. Maturity Benefit

On survival of the Life Assured till the Maturity Date as specified in the Schedule, provided that the Policy is in In-force
Status, the Policyholder will receive aggregate of:
• Sum Assured on Maturity;
• Accrued Cash Bonuses, if not paid earlier;
• Accrued Fixed Income, if applicable and not paid earlier;
• Terminal Bonus, if declared.

On payment of the Maturity Benefit, the policy shall terminate; and no more benefits will be payable.

3.2.3. Death Benefit

In the event of the unfortunate death of the Life Assured during the Policy Term provided that the Policy is still In-force
Status on the date of death of the Life Assured, and all due Installment Premiums are received in full by Us, the Nominee
shall receive Death Benefit, and the Policy shall immediately and automatically terminate.
Death Benefit shall be equal to the following and payable as lumpsum:
• Sum Assured on Death, plus;
• Accrued Cash Bonuses, if not paid earlier, plus;
• Accrued Simple Reversionary Bonus less sum of all Fixed Incomes already paid (if applicable), plus;
• Interim Cash Bonus (if any) plus;
• Terminal Bonus, if declared.
Where,
Sum Assured on Death shall be defined as higher of:
• Basic Sum Assured
• Annualized Premium multiplied by the Death Benefit Multiple

And, Interim Cash Bonus = Interim Cash Bonus Rate X Annualized Premium X Months outstanding since last Cash
Bonus payout date till next Policy Anniversary/ 12

Death Benefit shall not be less than 105% of Total Premiums Paid as on date of death. If at the time of death, Life Assured
is a minor, Death Benefit shall be paid to the Proposer in the Policy. The Death Benefit multiples will vary basis age at
entry as mentioned in the table below:

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 16-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating, Savings, Life Insurance Plan

Death Benefit Multiple Death Benefit Multiple

Maturity Age Maturity Age
100 80 100 80
Age at Entry Age at Entry
0 15.00 15.00 31 11.70 10.57
1 15.00 15.00 32 11.65 10.55
2 15.00 15.00 33 11.60 10.50
3 14.90 14.90 34 11.55 10.45
4 14.70 14.70 35 11.50 10.40
5 14.50 14.40 36 11.45 10.35
6 14.20 14.00 37 11.40 10.30
7 14.10 13.60 38 11.35 10.25
8 14.00 13.15 39 11.30 10.22
9 13.90 12.60 40 11.25 10.20
10 13.40 12.15 41 11.00 10.19
11 13.30 12.10 42 10.90 10.18
12 13.20 12.00 43 10.80 10.17
13 13.10 11.90 44 10.70 10.16
14 13.00 11.80 45 10.65 10.15
15 12.90 11.70 46 10.60 10.14
16 12.80 11.65 47 10.55 10.13
17 12.70 11.55 48 10.50 10.12
18 12.60 11.45 49 10.15 10.11
19 12.50 11.40 50 10.10 10.10
20 12.40 11.30 51 10.09 10.09
21 12.35 11.20 52 10.08 10.08
22 12.30 11.15 53 10.07 10.07
23 12.20 11.10 54 10.06 10.06
24 12.15 11.05 55 10.05 10.05
25 12.10 11.00 56 10.04 10.04
26 11.95 10.95 57 10.03 10.03
27 11.90 10.90 58 10.02 10.02
28 11.85 10.80 59 10.01 10.01
29 11.80 10.70 60+ 10.00 10.00
30 11.75 10.60

Note:
1) Age at entry shall be Age on Last Birthday
2) Death Benefit Multiple will be applied to the Annualized Premium.
The Policy terminates with the payment of Death Benefit except where Family Care Benefit is chosen.

3.2.3.1. Family Care Benefit

Where Family Care Benefit option is in force (as specified in the Schedule), then in the event of death of Life
Assured during the Premium Payment Term, all future Installment Premiums payable (if any) shall be waived

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 17-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating, Savings, Life Insurance Plan

off, and the Nominee shall receive the Sum Assured on Death as lumpsum. Policy continues to participate in the
participating fund, all future Survival Benefits and Maturity Benefit as defined above in 3.2.1 shall also be paid
to the Nominee.

The Policy does not terminate on payment of the Sum Assured on Death where the Family Care Benefit option
is in force under the Policy. The Policy cannot be surrendered once waiver of premium is triggered on death of
Life Assured.

The annualized premium used to derive the benefits on survival and maturity, for a policy opting for Family Care
Benefit will be subject to a guaranteed rate of reduction to cover the additional cost of mortality arising from
such policies. The guaranteed rate of reduction varies by age at entry, premium payment term, Maturity age
option and Plan option and are as below-

Guaranteed Rate of Reduction – For Maturity Age: 100 years (expressed as a % of Annualized Premium)
Smart Income Option with Family Care Benefit
PPT -> 5 6 7 8 9 10 12 15
Age
18 - 25 24.60% 21.90% 20.70% 19.80% 19.40% 19.30% 18.70% 18.80%
26 - 35 32.20% 28.40% 27.10% 25.90% 25.30% 25.40% 25.00% 25.30%
36 – 40 38.00% 33.70% 31.70% 30.20% 29.40% 29.50% 29.60% 29.90%
41 – 45 47.80% 40.70% 37.80% 35.90% 34.90% 35.30% 35.40% 36.00%
46 – 50 62.20% 50.30% 45.70% 43.30% 41.70% 42.30% 42.70% 43.80%

Super Income Option with Family Care Benefit

PPT -> 5 6 7 8 9 10 12 15
Age
18 – 25 23.30% 20.80% 19.50% 18.90% 18.20% 18.60% 18.40% 18.80%
26 – 35 30.50% 27.40% 26.10% 25.00% 24.80% 25.00% 25.30% 25.90%
36 – 40 36.90% 33.40% 30.90% 29.70% 29.30% 29.90% 30.30% 31.20%
41 – 45 45.20% 40.40% 37.50% 36.00% 35.10% 35.90% 36.40% 37.80%
46 – 50 61.00% 50.50% 46.00% 43.30% 42.30% 43.10% 44.40% 45.90%

Future Income Option with Family Care Benefit

PPT -> 5 6 7 8 9 10 12 15
Age
18 – 24 NA NA NA 15.30% NA 14.70% 14.70% 15.10%
25 – 34 NA NA NA 21.40% NA 21.30% 21.30% 21.70%
35 – 39 NA NA NA 29.10% NA 29.30% 30.00% 31.00%
40 – 44 NA NA NA 34.40% NA 34.80% 36.10% 37.20%
45 – 50 NA NA NA 40.50% NA 41.10% 43.60% 44.90%

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 18-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating, Savings, Life Insurance Plan

Guaranteed Rate of Reduction – For Maturity Age: 80 years (expressed as a % of Annualized Premium)
Smart Income Option with Family Care Benefit
PPT -> 5 6 7 8 9 10 12 15
Age
18 – 25 13.60% 12.60% 13.00% 12.50% 12.50% 13.00% 13.20% 13.70%
26 – 35 18.70% 18.00% 17.90% 17.30% 17.60% 17.90% 18.70% 19.50%
36 – 40 22.60% 21.40% 21.50% 21.00% 20.70% 21.60% 22.60% 23.80%
41 – 45 30.00% 27.80% 27.00% 26.30% 26.30% 27.20% 28.30% 29.90%
46 – 50 40.30% 37.00% 35.20% 34.20% 33.60% 34.80% 36.40% 38.60%

Super Income Option with Family Care Benefit

PPT -> 5 6 7 8 9 10 12 15
Age
18 – 25 12.50% 11.50% 11.90% 11.40% 11.40% 11.90% 12.10% 12.60%
26 – 35 17.80% 17.10% 17.00% 16.40% 16.70% 17.00% 17.80% 18.60%
36 – 40 21.90% 20.70% 20.80% 20.30% 20.00% 20.90% 21.90% 23.10%
41 – 45 29.40% 27.20% 26.40% 25.70% 25.70% 26.60% 27.70% 29.30%
46 – 50 39.80% 36.50% 34.70% 33.70% 33.10% 34.30% 35.90% 38.10%

Future Income Option with Family Care Benefit

PPT -> 5 6 7 8 9 10 12 15
Age
18 – 24 NA NA NA 4.80% NA 5.00% 5.70% 6.80%
25 – 34 NA NA NA 12.30% NA 12.90% 13.50% 14.00%
35 – 39 NA NA NA 18.30% NA 19.30% 20.80% 21.80%
40 – 44 NA NA NA 22.30% NA 23.50% 25.80% 27.10%
45 – 50 NA NA NA 27.40% NA 28.90% 32.20% 34.10%

3.3. Other features and benefits

3.3.1. Rider Benefits

You may opt for any of the following Riders on inception of the Policy or at any Policy Anniversary during the Premium
Payment Term. Each Rider shall be subject to the terms and conditions of that Rider:

a. PNB MetLife Accidental Death Benefit Rider Plus (UIN: 117B020V04) – This Rider provides additional
protection over and above the death benefit under this Policy in the event of the death of the Life Assured in an
Accident.

b. PNB MetLife Serious Illness Rider (UIN: 117B021V04) - This Rider provides additional protection over and
above the Death Benefit under this Policy in the event of the Life Assured being diagnosed with any of the critical
illnesses listed in the Rider.
I. In case of the unfortunate death of the Life Assured during the Policy Term and provided the Policy is
in In-force Status on the date of death, the Sum Assured on Death as on date of death will be paid.

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 19-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating, Savings, Life Insurance Plan

II. For Policies where Family Care Benefit is in force, no waiver of premium benefit shall be applicable on
Riders.
III. Rider Sum Assured limits shall be as per the respective Rider types and limits.
IV. Total Premium for all non-health Riders put together shall be subject to maximum of 30% of the total
premium of the Base Policy.
V. Total Premium for all health Riders put together shall be subject to a ceiling of 100% of the total premium
under the Base Policy.
VI. The Rider premium payment term should be less than or equal to the outstanding Premium Payment
Term of the Base Policy.
VII. Riders shall not be available under the Base Policy if the term of Rider exceeds the outstanding Policy
term of the Base Policy.
VIII. When the Base Policy is paid-up, lapsed, surrendered or forfeited, the Rider attached to the Base Policy
will also terminate automatically and immediately. For more details on the Rider benefits, features, terms
and conditions, please refer to the Rider terms and conditions carefully or contact your insurance advisor.
IX. Rider shall not be offered for policies sourced through POSP channel.

3.4. Premium Payment Conditions

3.4.1. Payment of Premium
(a) Premiums are payable for the entire Premium Payment Term
(b) You must pay the Installment Premiums on or before the due date specified in the Schedule
(c) The available premium payment modes under the Policy are annual, half yearly, quarterly and monthly.
(d) All taxes, cesses, surcharge and other levies, whether existing now or introduced in the future, will be levied,
as and when applicable, on the Installment Premiums to be paid by You
(e) Collection of advance premium shall be allowed in this Policy provided due Installment Premiums are
collected in the same financial year. However, where the premium due in one financial year is being
collected in advance in earlier financial year, we will accept the same for a maximum period of 3 months in
advance of the due date of that Installment Premium.
3.4.2. Alteration of the Premium payment mode
You may change the premium payment mode provided that You give Us a written request. The change in
frequency will be applied only from the Policy Anniversary following the date of Your request.
3.4.3. Grace Period for other than Single Premium policies
Grace period is time granted from the due date for the payment of premium, without any penalty or late fee,
during which time the policy is considered to be in-force with the risk cover without any interruption, as per the
terms & conditions of the policy. The grace period for payment of the premium is 15 days, where the policyholder
pays the premium on a monthly basis and 30 days in all other cases. If a valid death claim arises under the policy

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 20-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating, Savings, Life Insurance Plan

during the Grace period, but before the payment of due premium, the due and unpaid premium for the policy
year will be deducted from the Death benefit. During the Grace Period, the risk on the life of the Life Assured
will continue to be covered.
3.4.4. Rider Premium
Riders will be available, on payment of additional premium over and above the premium towards the Base Policy
provided conditions on riders (entry age, Policy Term, Premium Payment Term, Sum Assured) are satisfied.
Rider premium should be paid on the due date or within the grace period. The mode of rider premium payment
shall be same as the mode of premium payment under the Base Policy. The rider premium payment term will be
either equal to or lower than the premium payment term of the Base Policy.
3.4.5. Premium mode loading / Modal Factors
You may opt to pay the due Installment Premiums by Yearly, Half Yearly, Quarterly or Monthly mode subject
to the minimum Annualized Premium under each mode. Modal factors shall be used to derive the Annualized
Premium. In case a mode other than annual is chosen then the Annualized premium is equal to (Installment
premium / modal factor). Factors on premium will be applicable as per the table below:

Premium Paying Mode Modal Factors

Annual 1
Half Yearly 0.5131
Quarterly 0.2605
Monthly 0.0886

Alteration between different modes of Premium Payment is allowed at any policy anniversary on request
during the premium payment term.

3.4.6. Additional Benefit

Additional Benefit as High Premium Reward
You will be eligible for additional benefit payout in case of payment of a higher premium amount as mentioned
below. High Premium Reward (expressed as a % of Sum Assured on Maturity) shall be provided on Maturity
for below premium size –

Annualised Premium size (in Rs.) 1,00,000 -

0 - 99,999 3,00,000 - 4,99,999 5,00,000 & above
2,99,999

High Premium Reward (as a %

0% 5% 7.5% 10%
of Sum Assured on Maturity)

Additional Benefit for Online sales

This product will be available for sale through Online channel with applicable additional benefit of 10% (expressed
as a percentage of Sum Assured on Maturity) shall be added to such Sum Assured on Maturity.

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 21-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

4. Part D

Policy Servicing Conditions

You are requested to refer to the Policy Servicing Conditions described below before making a request for Policy
servicing to Us.

4.1. Free Look Period

Please go through the terms and conditions of Your Policy carefully. If You have any objections to the terms
and conditions of Your Policy, You may cancel the Policy by giving a written notice, to Us within 30 days
beginning from the date of receipt of Policy Document whether received electronically or otherwise, stating
the reasons for Your objection and You will be entitled to a refund of the premium paid, subject only to a
deduction of proportionate risk premium for the period of cover and the expenses if any, incurred on medical
examination and stamp duty charges

4.2. Policy loan

Eligibility for Policy Loan
After a Surrender Value has been acquired under the Policy and provided that the Policy is in In-force Status,
We may grant You a loan under the Policy provided that:

(a) The proposed loan amount does not exceed 80% of the Surrender Value at the end of the Policy Year (in
which loan is requested) less any unpaid Installment Premiums for that Policy Year, any outstanding loans
previously granted on this Policy and loan interest (if any) accrued to the end of that Policy Year;

(b) The Policy is assigned to Us to the extent of the outstanding loan amount. It is understood and agreed that,
subject to the provisions of Section 38 and 39 of the Insurance Act 1938, as amended from time to time, this
assignment will automatically cancel all nominations and other assignments in force at the time, to the extent
of the outstanding loan and interest.

Applicable rate of interest

(a) The rate of interest to be charged for new loans shall be 10 Year G-Sec Rate as on 1st of April plus 250 basis
points rounded up to the nearest 50 basis points. If the G-Sec Rates have not been declared on 1st April, the
G-Sec rate declared on the first date of the financial year shall be reckoned.

(b) However, at any point in time, if the prevailing 10 Year G-Sec rate changes in excess of 200 basis points
from the rate prevailing as on 1st Apr of that year; the company may review the rate of interest based on the
prevailing 10 Year G-Sec rate.

(c) As on 1st Apr 2024, the Company charges 10% compounded annually on outstanding loan amounts and
interest accrued thereon.

(d) The Company may review the formula for determining aforementioned loan rate of interest and reserves the
right to change it
PNB MetLife Century Plan
UIN – 117N129V02

2952374 Page 22-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

(e) The applicable rate will apply to new loans including any incremental loan on policies which already have
existing loan from previous years.

(f) Once a loan is granted at a given rate, such interest rate will remain fixed until the respective loan amount
and interest thereof is received by Us.

Repayment of loan
(a) You shall re-pay the loan in the manner and in the amounts specified by Us at the time of disbursement of the
loan.

(b) Interest on the loan shall become due at the end of each Policy Year. If the interest amount is not received
in full by the Company within 30 days of it becoming due, the interest amount will be added to the loan
principal amount.

(c) The revised loan principal (including the unpaid interest) will bear interest at the same rate as the original
loan amount.

(d) If the Life Assured dies before all outstanding loan amounts have been received by the Company, then the
amount equal to the outstanding loan amount plus the interest due thereon shall be deducted from the Death
Benefit payable under the Policy.

(e) If the outstanding loan amounts have not been received by the Company before the date of Surrender, an
amount equal to the outstanding loan amount plus the interest due thereon shall be deducted from the surrender
benefit payable under the Policy.

(f) If the outstanding loan amounts have not been received by the Company before a survival benefit or income
benefit or cash bonus payout becomes due, such amount shall first be utilized towards repayment of
outstanding loan and interest thereon.

(g) If the outstanding loan amounts have not been received by the Company before the maturity date, an amount
equal to the outstanding loan amount plus the interest due thereon shall be deducted from the maturity benefit
payable under the Policy.

Additional loans
(a) You may take additional loan under the Policy provided that the proposed loan amount and the existing loan
principal cumulatively do not exceed 80% of the Surrender Value at the end of the current Policy Year less
any unpaid Premiums for that Policy Year and loan interest (if any) accrued to the end of that Policy Year.

(b) Rate of interest for such additional loan shall be the loan rate prevailing for the year and may be different from
the interest rate for any previously granted loans.
PNB MetLife Century Plan
UIN – 117N129V02

2952374 Page 23-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

Foreclosure
(a) Any in-force and fully paid-up policy will not be foreclosed on the ground of outstanding policy loan amount
including interest exceeds the surrender value.

(b) For other than in-force and fully paid-up, wherein the loan outstanding (including interest thereon) exceeds the
prevailing Surrender Value, the Company shall send a notice to Policyholder to repay the outstanding loan
amount along with the interest. If the Policyholder does not repay the loan or fails to respond to the notice
within 90 days of the date of issuance of such notice, the Policy shall be foreclosed, and the Policyholder will
be paid the Surrender Value less loan outstanding including interest.

4.3. Premium Discontinuance

If You discontinue paying the due Installment Premiums, Your Policy will be Lapsed or converted into Paid-Up
status in accordance with the following provisions:

4.3.1 Lapse

(a) If all due Installment Premiums for the first full Policy Year is not paid , the Policy lapses at the end of the
Grace Period and the risk cover, and Rider benefits, if any, will cease immediately.

The lapsed Policy can be reinstated within the Revival Period. No benefits will be payable under the Policy if the
Policy is not reinstated in accordance with the provisions stated in Part D. If a lapsed Policy is not revived by the
end of the Revival Period, the Policy shall be immediately and automatically terminated.

4.3.2 Reduced Paid-Up Value

If due Installment Premium for the first full Policy Year has been received and if the Policy has acquired a
Surrender Value and future Instalment Premiums are not paid in full, the Policyholder shall have the option to
either Surrender the Policy or continue it in Paid-up Status with reduced benefits. A Policy in Paid-up Status can
be revived as defined in Section 4.5.
Once the Policy is in Paid-up Status with reduced benefits;
- No further Simple Reversionary Bonus or Cash Bonus shall accrue to the Policy i.e. the Policy will become
ineligible for any type of bonuses in future.
- Rider benefits (if any), shall cease immediately after payment of Surrender Value with respect to Rider
benefits (if applicable).
If the Policyholder does not Surrender the Policy and Policy continues with reduced benefits, following shall be
payable:

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 24-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

Benefits Payout

The amount payable on death of the Life Assured shall be equal to Reduced Paid-Up Sum
Assured on Death plus Sum of:
1. Accrued Cash Bonuses, if not paid earlier; and
2. Accrued Simple Reversionary Bonus less sum of Fixed Income paid till the date of
death
3. Terminal Bonus (if declared)
Reduced Paid-Up Sum Assured on Death shall be calculated as follows:
Sum Assured on Death x (t / n)
Where,
Death Benefit “t” refers the number of Installment Premiums paid until the date of death, and “n” refers
the number of Installment Premiums payable during the Premium Payment Term.
The risk cover under the Policy terminates automatically on payment of Reduced Paid-up
Sum Assured on Death, except where Family Care Benefit is chosen.
If Family Care Benefit is chosen by the Policyholder at inception, then Reduced Paid-Up
Sum Assured on Death shall be payable as lumpsum. Policy will continue to be reduced
paid up and will receive reduced benefits mentioned under Survival/Maturity section
below.

A policy that has opted for Family Care Benefit and subsequently becomes reduced paid-up
cannot be surrendered post death of Life Assured under Family Care Benefit option.

On survival of Life Assured, or on death of Life Assured if Family Care Benefit is chosen,
the Survival Benefits under a paid-up policy shall be paid as follows subject to the Plan
Option in force under the Policy:
Option 1: Super Income - No Cash Bonus shall be paid.
Option 2: Smart Income - No Cash Bonus shall be paid.
Survival Option 3: Future Income - Fixed Income shall be paid for each Policy Year during Fixed
Benefit Income Payout Period.
Where,
Fixed Income = Sum of all accrued Simple Reversionary Bonuses x Income Payout Factor
/ Fixed Income Payout Period

On the Maturity date, on the survival of the Life Assured or for a policy where Family Care
Benefit is chosen and death occurs after the Policy is in Paid-up status with reduced benefits,
Maturity Reduced Paid-Up Sum Assured on Maturity is defined as;
Benefit
Sum Assured on Maturity x (t / n);

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 25-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

Benefits Payout

Where,
Where, “t” refers the number of Installment Premiums paid till the Maturity Date, and “n”
refers the number of Installment Premiums payable during the Premium Payment Term.
Maturity benefit is defined as:
1. Reduced paid-up Sum Assured on Maturity plus
2. Accrued Cash Bonuses (if not paid earlier) plus
3. Fixed Incomes (if not paid earlier) plus
4. Terminal Bonus (if declared)
The risk cover under the Policy terminates automatically on payment of Reduced Maturity
Benefit at Maturity Date.

4.4. Surrender

If due Installment Premium has been paid for the first full Policy Year, the Policy shall acquire a Surrender
Value.

The Policy cannot be surrendered once waiver of premium (under Family Care Benefit Option) is triggered on
death of Life Assured. The Policy will automatically terminate after payment of the Surrender Value. The
Surrender Value payable shall be higher of Guaranteed Surrender Value and Special Surrender Value as given
below plus; any accrued Survival Benefit (if not paid earlier).
Guaranteed Surrender Value:
GSV = (GSV Factor multiplied by Total Premiums Paid; plus, Accrued Cash Bonuses/ Fixed Income (if not paid
earlier); plus, GSV Simple Reversionary Bonus Factor multiplied by sum of all accrued Simple Reversionary
Bonuses, if any) less Survival Benefits applicable till date; subject to minimum of 0;

The GSV Factors are as mentioned below:

GSV factors as a % of Total Premiums Paid

Maturity 100 Maturity 100
80 Years 80 Years
Age Years Age Years
Policy Year Policy Year
1 0.00% 0.00% 19 69.50% 90.00%
2 30.00% 30.00% 20 70.50% 90.00%
3 35.00% 35.00% 21 72.00% 90.00%
4 50.00% 50.00% 22 73.50% 90.00%
5 50.00% 50.00% 23 75.00% 90.00%
6 51.50% 53.00% 24 76.00% 90.00%
7 53.00% 55.00% 25 77.50% 90.00%
PNB MetLife Century Plan
UIN – 117N129V02

2952374 Page 26-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

8 54.00% 60.00% 26 79.00% 90.00%

9 55.50% 64.00% 27 80.50% 90.00%
10 57.00% 68.00% 28 81.50% 90.00%
11 58.50% 72.00% 29 83.00% 90.00%
12 59.50% 80.00% 30 84.50% 90.00%
13 61.00% 85.00% 31 86.00% 90.00%
14 62.50% 90.00% 32 87.00% 90.00%
15 64.00% 90.00% 33 88.50% 90.00%
16 65.00% 90.00% 34 90.00% 90.00%
17 66.50% 90.00% 35+ 90.00% 90.00%
18 68.00% 90.00%

Special Surrender Value (SSV):

For Without Family Care Option:
SSV = [Reduced Paid-up Sum Assured on Maturity x SSV Factor 1(A) plus
Reduced Paid-up Sum Assured on Death x SSV Factor 2 plus
{Total Accrued Simple Reversionary Bonus / Fixed Income Payout Period x SSV Factor 3(A) less Fixed Income
Payouts made during the year till date of surrender} plus
{Total Accrued Simple Reversionary Bonus less Fixed Income Payouts made till date} x SSV Factor 4 less
Cash Bonus payouts made till date of surrender], subject to a minimum of zero plus Terminal Bonus, if any
For With Family Care Option:
SSV = [Reduced Paid-up Sum Assured on Maturity x SSV Factor1(B) plus
Reduced Paid-up Sum Assured on Death x SSV Factor 2 plus
{Total Accrued Simple Reversionary Bonus / Fixed Income Payout Period x SSV Factor 3(B) less Fixed Income
Payouts made during the year till date of surrender} less
Cash bonus payouts made till date of surrender], subject to a minimum of 0 plus Terminal Bonus, if any.
• SSV Factor1(A) is the factor derived to compute expected present value of paid-up maturity benefit
payable, calculated at the end of the policy month of surrender
• SSV Factor1(B) is the factor derived to compute present value of paid-up maturity benefit payable,
calculated at the end of the policy month of surrender

• SSV Factor2 is the factor derived to compute expected present value of paid-up death benefit payable,
calculated at the end of the policy month of surrender

• SSV Factor 3(A) is the factor derived to compute the expected present value of fixed income payouts,
calculated at the end of the policy month of surrender
• SSV Factor 3(B) is the factor derived to compute the present value of fixed income payouts, calculated at
the end of the policy month of surrender

• SSV Factor 4 is the factor derived to compute the expected present value of simple reversionary bonus
payout made on death, calculated at the end of policy month of surrender
PNB MetLife Century Plan
UIN – 117N129V02

2952374 Page 27-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

The SSV Factors mentioned above will vary by age at maturity i.e. 80 and 100 years.
SSV is not guaranteed and the Company can change these SSV factors at any time during the Policy Term,
subject to prior approval from IRDAI.

4.5. Policy Revival

A Policy that has Lapsed or that has been converted to a Paid-up Policy Status may be revived during the Revival
Period by giving Us written notice to revive the Policy, provided that:
i. All due arrears of Instalment Premiums along with interest at Prevailing Rate of Interest, if any, are received
by Us in full.
ii. We may change this revival interest rate from time to time. Currently, We charge 8.00% compounded annually.
iii. The rate of interest is calculated as the 10 Year G-Sec rate as on 1st of April plus 50 basis points, rounded up
to the nearest 50 basis points. We will review the rate on an annual basis in April based on the prevailing 10
Year G-Sec rate. However, under special circumstances where the prevailing 10 Year G-Sec rate is changing
in excess of 200 basis points from the G-Sec rate used for calculating the current interest rate, We shall review
the interest rate based on the prevailing 10 Year G-Sec rate.
iv. The Revival of the Policy will be subject to Board approved underwriting policy. A surrendered Policy cannot
be revived.
We may revive the Lapsed Policy by imposing such extra premium as it deems fit as per the Board approved
underwriting policy.

4.6. Termination of the Policy

The Policy will be terminated on the earliest of the following:
a. On Payment of Freelook cancellation amount.
b. The date of payment of Surrender Value.
c. At the expiry of the Revival Period, if the Policy has not been revived and provided the said Policy has
not been converted into a Reduced Paid-Up Policy in accordance with clause 4.3.2
d. On payment of the Death Benefit (except Family Care Benefit is opted) or Maturity Benefit, as
applicable.
e. On return of eligible Installment Premium/Surrender Value under suicide clause.

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 28-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating ,Savings, Life Insurance Plan

5. Part E

Not applicable

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 29-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

6. Part F

General Terms & Conditions

The following general terms and conditions are applicable to Your Policy. If You wish to change the nomination or
assign the Policy or update Your/Nominee’s address or other contact details in Our records, You should do so only
through the forms prescribed by Us for these purposes. These forms are available at Our offices or may be obtained from
Your financial advisor or can be downloaded from Our website www.pnbmetlife.com
6.1. Nomination
Nomination should be in accordance with provisions of Section 39 of the Insurance Act 1938 as amended from
time to time. A Leaflet containing the simplified version of the provisions of Section 39 is enclosed as Annexure
A to this Policy for Your reference. Nomination of this Policy is not applicable if the Policy has been executed
under Section 6 of the Married Women’s Property Act 1874
6.2. Assignment
Assignment should be in accordance with provisions of Section 38 of the Insurance Act 1938 as amended from
time to time. A Leaflet containing the simplified version of the provisions of Section 38 is enclosed as Annexure
A to this Policy for Your reference. Assignment of this Policy is not applicable if the Policy has been executed
under Section 6 of the Married Women’s Property Act 1874.
6.3. Claims Procedure
We will not be obliged to make any payment of the Death Benefit unless and until we have received all of the
information and documentation.
We request following set of documents:
1. Duly filled and signed Claim form
2. Copy of valid death certificate issued by local authority.
3. Current address proof & Photo identity proof of the rightful nominee/ legal heir
4. PAN Card or Form 60 of the nominee
5. Cancelled cheque / Copy of bank passbook of the rightful nominee/legal heir
6. Complete Medical records (Indoor Case Papers/Death Summary/ Discharge summary /Medical Test &
investigation reports etc.) for any treatment taken in past or at the time of death.
7. Copy of FIR, Panchnama, Inquest report, Postmortem report
8. Viscera / Chemical analysis report, Obituary/ Newspaper cutting (if available)
9. Succession certificate/ Legal Heir certificate in case of absence of nominee
Note - The company has the right to ask for additional documents deemed necessary to decide the claim which do
not form part of the above-mentioned list.

Furnishing of the above information and documentation is a condition precedent for Us to pay a claim under this

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 30-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

Policy. We request the claimant to submit all the above documents within 45 days of the occurrence of the claim
incidence. We shall consider submission of the above documents beyond 45 days but not later than 90 days from
the occurrence of the claim incidence if there are valid reasons for such a delay on the Claimant’s part

6.4. Maturity Benefit Payout Procedure

We will not be obliged to make any payment of the Maturity Benefit unless and until we have received all of the
information and documentation.

6.4.1 Procedure for payment of Maturity Benefit

You will have to submit the following information and documentation we request, including but not limited to:
a. Updated bank details and cancelled cheque copy
b. Current address proof & Photo identity proof of the policyholder
c. PAN Card or Form 60 of the policyholder
6.5. Taxation
The tax benefits on the Policy shall be as per the prevailing tax laws in India and amendments thereto from time
to time. In respect of any payment made or to be made under or in relation to this Policy, We will deduct or charge
or recover taxes including service tax and other levies as applicable at such rates as notified by the government or
such other body authorized by the government from time to time. Tax laws are subject to change.
6.6. Currency & Place of Payment
All amounts payable either to or by Us will be paid in the currency shown in the Schedule.
6.7. Fraud and Misstatement
Fraud and Misstatement would be dealt with in accordance with provisions of Section 45 of the Insurance Act
1938 as amended from time to time. A Leaflet containing the simplified version of the provisions of Section 45 is
enclosed in Annexure A for Your reference.
6.8. Exclusion

6.8.1. Suicide exclusion: If the Life Assured’s death is due to suicide within twelve months from the Date of
Commencement of Risk or from the Date of Revival of the Policy as applicable, the Nominee of the Policyholder
shall be entitled to receive at least 80% of the Total Premium Paid and received by Us until the date of death of
the Life Assured or Surrender Value available as on the date of death of the Life Assured, whichever is higher,
provided the Policy is in In force Status. We shall not be liable to pay any interest on this amount.

6.9. Proof of Age

Subject to Section 45 of the Insurance Act 1938, as amended from time to time if the actual age of the Life Assured
differs from the Age stated in the Proposal Form then:
a. If the actual age of Life Assured proves to be higher than what is stated in the Proposal Form, the Basic

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 31-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

Sum Assured will be adjusted to that which would have been purchased by the amount of premium paid,
had the age been correctly stated. The Policy will continue to be in force;
b. If the actual age proves to be lower than what is stated in the Proposal Form, the premium paid in excess
will be refunded to you without interest or may be adjusted towards future premium. The Policy will
continue to be in force.
c. If the Life Assured’s actual age is such that it would have made him/her ineligible for the insurance cover
stated in the Policy, we reserve the right to take such action as may be deemed appropriate including
cancellation of the Policy upon payment of the Surrender Value.
6.10. Vesting on attaining age of majority
If the Policy has been issued on the life of a minor (below Age 18), the Policy will automatically vest in him/her
on his/her attaining majority (eighteen years) and thereafter the Life Assured would be the Policyholder and the
Company shall enter into all correspondence directly with him/her. Any assignment or nomination of the Policy
contrary to this provision would be null and void against the Us.
6.11. Loss of the Policy Document
If the Original Policy Document is lost or destroyed, a duplicate Policy document shall be issued upon receipt of a
written request from You subject to submission of affidavit-cum-indemnity in the format prescribed by Us on stamp
paper of requisite value of Rs. 200. Please note that laws related to stamp duty are subject to amendments made
thereto from time to time. Upon the issuance of a duplicate Policy, the original Policy Document will cease to have
any legal force or effect. You agree that You shall indemnify and hold Us free and harmless from and against any
claims or demands that may arise under or in relation to the original Policy document.
6.12. Policyholder’s Rights

To exercise Your rights or options, under this Policy, You should follow the procedures stated in this Policy. If
You want to change Your Nominee, change an address or exercise any other options under the Policy, You shall
do so only using the forms prescribed for each purpose which are available with Your financial advisor, from Our
local office or can be downloaded from Our website www.pnbmetlife.com. If You change Your address, or if the
address of the Nominee changes, You must notify Us immediately. Failure in timely notification of change of
address could result in a delay in processing of benefits payable under the Policy.
6.13. Travel, Residence & Occupation
This Policy does not impose any restrictions as to travel and residence. This Policy does not impose any restrictions
as to occupation.
6.14. Governing Law & Jurisdiction
The terms and conditions of the Policy shall be governed by and be interpreted in accordance with Indian law and
all disputes and differences arising under or in relation to the Policy shall be subject to the sole and exclusive
jurisdiction of the jurisdictional courts in India.

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 32-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

6.15. Our Address for Communication

All notices and communications in respect of this Policy shall be addressed to us at the following address:
PNB MetLife India Insurance Co. Ltd,
Unit No. 101, First Floor, Techniplex I,
Techniplex Complex, Off Veer Savarkar Flyover,
S.V. Road, Goregaon (West),
Mumbai – 400 062, Maharashtra
Call us Toll-free at 1800-425-6969
Visit our website: www.pnbmetlife.com, Email: indiaservice@pnbmetlife.co.in

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 33-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

7. Part G

GRIEVANCE REDRESSAL MECHANISM & OMBUDSMAN DETAILS

7.1. Grievance Redressal Mechanism

In case You have any query or complaint or grievance, You may approach Our office at the following address:
Level 1
For any complaint/grievance, approach any of Our following touch points:
▪ Call 1800-425-69-69 (Toll free)
▪ Email at indiaservice@pnbmetlife.co.in
▪ Write to
Customer Service Department,
1st Floor, Techniplex -1, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West),
Mumbai – 400062.
▪ Online through Our website www.pnbmetlife.com
▪ Our nearest PNB MetLife branch across the country
Level 2:
In case not satisfied with the resolution provided by the above touch points, or have not received any response
within 10 days, You may
• Write to Our Grievance Redressal Officer at gro@pnbmetlife.co.in or
• Send a letter to
PNB MetLife India Insurance Co. Ltd,
Unit No 302, 3rd Floor, Tower 3 Worldmark,
Maidawas Sector – 65, Gurugram, Haryana - 122018 ,
Please address Your queries or complaints to our customer services department, and Your grievances to our
grievance redressal officer on the address referred above, who are authorized to review Your queries or complaints
or grievances and address the same. Please note that only an officer duly authorized by Us has the authority to
resolve Your queries or complaints or grievances. We shall in no way be responsible, or liable, or bound by, any
replies or communications or undertakings, given by or received from, any financial advisor or any employee who
was involved in selling You this Policy.

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 34-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

Level 3:
If You are not satisfied with the response or do not receive a response from Us within fifteen (15) days, You may
approach the Bima Bharosa Shikayat Nivaran Kendra on the following contact details :
• Online : You can register Your complaint online at https://bimabharosa.irdai.gov.in or refer IRDAI
website for more details.
• By Post : You can write Your complaints to
Consumer Affairs Department
Insurance Regulatory and Development Authority of India
Sy No. 115/1, Financial District,
Nanakramguda, Gachibowli, Hyderabad – 500032, Telangana
• By E-mail : E-mail ID: complaints@irdai.gov.in
• By Phone : 1800 4254 732
In case You are not satisfied with the decision/resolution, You may approach the Insurance Ombudsman at the
address in the list of Ombudsman below, if Your grievance pertains to:
• Insurance claim that has been rejected or dispute of a claim on legal construction of the Policy;
• Delay in settlement of claim;
• any partial or total repudiation of claims by Us;
• Dispute with regard to premium; or
• Misrepresentation of terms and conditions of the Policy;
• Policy servicing related grievances against Us or Our agent/intermediary;
• Issuance of Policy in non-conformity with the proposal form;
• Non-issuance of the Policy after receipt of premium;or
• Any other matter resulting from the violation of provisions of the Insurance Act, 1938 as amended from
time to time or the Regulations, circulars, guidelines or instructions issued by the IRDAI from time to
time or the terms and conditions of the Policy, in so far as they relate to issues mentioned above.
1) The complaint should be made in writing duly signed by You, Nominee, Assignee or by Your legal heirs with
full name, address and contact information of the complainant, the details of our branch or office against whom
the complaint is made, the facts giving rise to the complaint, supported by documents, the nature and extent
of the loss caused to the complainant and the relief sought from the Insurance Ombudsman. Per Rule 14(3) of
the Insurance Ombudsman Rules, 2017 (Rules), a complaint to the Insurance Ombudsman can be made if the
complainant makes a written representation to the Insurer and either the Insurer rejected the complaint or the
complainant did not receive any reply within one month after the Insurer received the complaint, or the
complainant is not satisfied with the reply given to him by the Insurer. Further, such a complaint to the
Insurance Ombudsman can be made and filed, within one year

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 35-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

• after the order of the Insurer rejecting the representation is received; or

• after receipt of decision of the Insurer which is not to the satisfaction of the complainant;
• after expiry of a period of one month from the date of sending the written representation to the Insurer if
the Insurer fails to furnish reply to the complainant.
2) The Insurance Ombudsman shall be empowered to condone the delay in such cases as he may consider
necessary, after calling for objections of the Insurer against the proposed condonation and after recording
reasons for condoning the delay and in case the delay is condoned, the date of condonation of delay shall be
deemed to be the date of filing of the complaint, for further proceedings under these Rules.
3) No complaint before the Insurance Ombudsman shall be maintainable on the same subject matter on which
proceedings are pending before or disposed of by any court or consumer forum or arbitrator.

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 36-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

7.2. List of Insurance Ombudsman

[Note: A list of Insurance Ombudsman is set out below. Please refer to https://www.cioins.co.in/Ombudsman for a
list of updated Insurance Ombudsman.]

Jurisdiction of Office
Office Details
Union Territory, District)

AHMEDABAD -
Office of the Insurance Ombudsman,
Jeevan Prakash Building, 6th floor, Gujarat,
Tilak Marg, Relief Road, Dadra & Nagar Haveli,
Ahmedabad – 380 001. Daman and Diu.
Tel.: 079 - 25501201/02/05/06
Email: bimalokpal.ahmedabad@cioins.co.in

BENGALURU -
Office of the Insurance Ombudsman,
Jeevan Soudha Building, PID No. 57-27-N-19
Ground Floor, 19/19, 24th Main Road,
Karnataka.
JP Nagar, Ist Phase,
Bengaluru – 560 078.
Tel.: 080 - 26652048 / 26652049
Email: bimalokpal.bengaluru@cioins.co.in

BHOPAL -
Office of the Insurance Ombudsman,
, 1st Floor, “Jeevan Shikha”,
60- Bs, Hoshangabad Road , Opp. Gayatri Madhya Pradesh
Mandir , Chhattisgarh.
Bhopal – 462 011.
Tel.: 0755 - 2769201 / 2769202
Email: bimalokpal.bhopal@cioins.co.in

BHUBANESHWAR -
Office of the Insurance Ombudsman,
62, Forest park,
Odisha.
Bhubneshwar – 751 009.
Tel.: 0674 - 2596461 /2596455
Email: bimalokpal.bhubaneswar@cioins.co.in

CHANDIGARH -
Punjab,
Office of the Insurance Ombudsman,
Haryana excluding Gurugram, Faridabad, Sonepat and
S.C.O. No. 101, 102 & 103, 2nd Floor,
Bahadurgarh)
Batra Building, Sector 17 – D,
Himachal Pradesh, Union Territories of Jammu &
Chandigarh – 160 017.
Kashmir,
Tel.: 0172 - 4646394 / 2706468
Ladakh & Chandigarh.
Email: bimalokpal.chandigarh@cioins.co.in

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 37-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

Jurisdiction of Office
Office Details
Union Territory, District)

CHENNAI -
Office of the Insurance Ombudsman,
Fatima Akhtar Court, 4th Floor, 453,
Tamil Nadu
Anna Salai, Teynampet,
Puducherry Town and
CHENNAI – 600 018.
Karaikal (which are part of Puducherry).
Tel.: 044 - 24333668 / 2433678
Email: bimalokpal.chennai@cioins.co.in

DELHI -
Office of the Insurance Ombudsman,
2/2 A, Universal Insurance Building, Delhi &
Asaf Ali Road, Following Districts of Haryana - Gurugram, Faridabad,
New Delhi – 110 002. Sonepat & Bahadurgarh.
Tel.: 011 - 23237539
Email: bimalokpal.delhi@cioins.co.in

GUWAHATI -
Assam,
Office of the Insurance Ombudsman,
Meghalaya,
Jeevan Nivesh, 5th Floor,
Manipur,
Nr. Panbazar over bridge, S.S. Road,
Mizoram,
Guwahati – 781001(ASSAM).
Arunachal Pradesh,
Tel.: 0361 - 2632204 / 2602205
Nagaland and Tripura.
Email: bimalokpal.guwahati@cioins.co.in

HYDERABAD -
Office of the Insurance Ombudsman,
6-2-46, 1st floor, "Moin Court", Andhra Pradesh,
Lane Opp. Saleem Function Palace, Telangana,
A. C. Guards, Lakdi-Ka-Pool, Yanam and
Hyderabad - 500 004. part of Union Territory of Puducherry.
Tel.: 040 - 23312122
Email: bimalokpal.hyderabad@cioins.co.in

JAIPUR -
Office of the Insurance Ombudsman,
Jeevan Nidhi – II Bldg., Gr. Floor,
Bhawani Singh Marg, Rajasthan.
Jaipur - 302 005.
Tel.: 0141 – 2740363/2740798
Email: bimalokpal.jaipur@cioins.co.in

KOCHI -
Office of the Insurance Ombudsman, Kerala,
10th Floor, Jeevan Prakash, LIC Building, Lakshadweep,
Opp. To Maharaja’s College, M. G. Road, Mahe-a part of Union Territory of Puducherry.
Kochi - 682 011.

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 38-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

Jurisdiction of Office
Office Details
Union Territory, District)

Tel.: 0484 - 2358759

Email: bimalokpal.ernakulam@cioins.co.in

KOLKATA -
Office of the Insurance Ombudsman,
Hindustan Bldg. Annexe, 7th Floor, West Bengal,
4, C.R. Avenue, Sikkim,
KOLKATA - 700 072. Andaman & Nicobar Islands.
Tel.: 033 - 22124339 / 22124341
Email: bimalokpal.kolkata@cioins.co.in

LUCKNOW - Districts of Uttar Pradesh : Lalitpur, Jhansi, Mahoba,

Office of the Insurance Ombudsman, Hamirpur, Banda, Chitrakoot, Allahabad, Mirzapur,
6th Floor, Jeevan Bhawan, Phase-II, Sonbhabdra, Fatehpur, Pratapgarh, Jaunpur,Varanasi,
Nawal Kishore Road, Hazratganj, Gazipur, Jalaun, Kanpur, Lucknow, Unnao, Sitapur,
Lucknow - 226 001. Lakhimpur, Bahraich, Barabanki, Raebareli, Sravasti,
Tel.: 0522 – 4002082/3500613 Gonda, Faizabad, Amethi, Kaushambi, Balrampur, Basti,
Email: bimalokpal.lucknow@cioins.co.in Ambedkarnagar, Sultanpur, Maharajgang, Santkabirnagar,
Azamgarh, Kushinagar, Gorkhpur, Deoria, Mau, Ghazipur,
Chandauli, Ballia, Sidharathnagar.

MUMBAI -
Office of the Insurance Ombudsman,
3rd Floor, Jeevan Seva Annexe, Goa,
S. V. Road, Santacruz (W), Mumbai Metropolitan Region
Mumbai - 400 054. excluding Navi Mumbai & Thane.
Tel.: 69038800/27/29/31/32/33
Email: bimalokpal.mumbai@cioins.co.in

NOIDA -
Office of the Insurance Ombudsman, State of Uttaranchal and the following Districts of Uttar
Bhagwan Sahai Palace Pradesh: Agra, Aligarh, Bagpat, Bareilly, Bijnor, Budaun,
4th Floor, Main Road, Bulandshehar, Etah, Kanooj, Mainpuri, Mathura, Meerut,
Naya Bans, Sector 15, Moradabad, Muzaffarnagar, Oraiyya, Pilibhit, Etawah,
Distt: Gautam Buddh Nagar, Farrukhabad, Firozbad, Gautam Buddh nagar, Ghaziabad,
U.P-201301. Hardoi, Shahjahanpur, Hapur, Shamli, Rampur, Kashganj,
Tel.: 0120-2514252 / 2514253 Sambhal, Amroha, Hathras, Kanshiramnagar, Saharanpur.
Email: bimalokpal.noida@cioins.co.in

PATNA -
Office of the Insurance Ombudsman,2nd Floor,
Lalit Bhavan, Bailey Road, Bihar,
Patna 800 001. Jharkhand.
Tel.: 0612-2547068
Email: bimalokpal.patna@cioins.co.in

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 39-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

Jurisdiction of Office
Office Details
Union Territory, District)

PUNE -
Office of the Insurance Ombudsman,
Jeevan Darshan Bldg., 3rd Floor,
Maharashtra,
C.T.S. No.s. 195 to 198,
Areas of Navi Mumbai and Thane
N.C. Kelkar Road, Narayan Peth,
(excluding Mumbai Metropolitan Region),
Pune – 411 030.
Tel.: 020-24471175
Email: bimalokpal.pune@cioins.co.in

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 40-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

Annexure A

Section 39 of the Insurance Act 1938 as amended from time to time, Nomination by policyholder

Nomination of a life insurance Policy is as below in accordance with Section 39 of the Insurance Act, 1938 as amended
by Insurance Laws (Amendment) Act, 2015. The extant provisions in this regard are as follows:

01. The policyholder of a life insurance on his own life may nominate a person or persons to whom money secured by
the policy shall be paid in the event of his death.
02. Where the nominee is a minor, the policyholder may appoint any person to receive the money secured by the policy
in the event of policyholder’s death during the minority of the nominee. The manner of appointment to be laid down by
the insurer.
03. Nomination can be made at any time before the maturity of the policy.
04. Nomination may be incorporated in the text of the policy itself or may be endorsed on the policy communicated to
the insurer and can be registered by the insurer in the records relating to the policy.
05. Nomination can be cancelled or changed at any time before policy matures, by an endorsement or a further
endorsement or a will as the case may be.
06. A notice in writing of Change or Cancellation of nomination must be delivered to the insurer for the insurer to be
liable to such nominee. Otherwise, insurer will not be liable if a bonafide payment is made to the person named in the
text of the policy or in the registered records of the insurer.
07. Fee to be paid to the insurer for registering change or cancellation of a nomination can be specified by the Authority
through Regulations.
08. On receipt of notice with fee, the insurer should grant a written acknowledgement to the policyholder of having
registered a nomination or cancellation or change thereof.
09. A transfer or assignment made in accordance with Section 38 shall automatically cancel the nomination except in
case of assignment to the insurer or other transferee or assignee for purpose of loan or against security or its reassignment
after repayment. In such case, the nomination will not get cancelled to the extent of insurer’s or transferee’s or assignee’s
interest in the policy. The nomination will get revived on repayment of the loan.
10. The right of any creditor to be paid out of the proceeds of any policy of life insurance shall not be affected by the
nomination.
11. In case of nomination by policyholder whose life is insured, if the nominees die before the policyholder, the proceeds
are payable to policyholder or his heirs or legal representatives or holder of succession certificate.
12. In case nominee(s) survive the person whose life is insured, the amount secured by the policy shall be paid to such
survivor(s).
13. Where the policyholder whose life is insured nominates his a. parents or b. spouse or c. children or d. spouse and
children e. or any of them the nominees are beneficially entitled to the amount payable by the insurer to the policyholder
unless it is proved that policyholder could not have conferred such beneficial title on the nominee having regard to the
nature of his title.
14. If nominee(s) die after the policyholder but before his share of the amount secured under the policy is paid, the share
of the expired nominee(s) shall be payable to the heirs or legal representative of the nominee or holder of succession
certificate of such nominee(s).
15. The provisions of sub-section 7 and 8 (13 and 14 above) shall apply to all life insurance policies maturing for payment
after the commencement of Insurance Laws (Amendment) Ordinance, 2014 (i.e 26.12.2014).
16. If policyholder dies after maturity but the proceeds and benefit of the policy has not been paid to him because of his
death, his nominee(s) shall be entitled to the proceeds and benefit of the policy.
17. The provisions of Section 39 are not applicable to any life insurance policy to which Section 6 of Married Women’s
Property Act, 1874 applies or has at any time applied except where before or after Insurance Laws (Ordinance) 2014, a
nomination is made in favour of spouse or children or spouse and children whether or not on the face of the policy it is
PNB MetLife Century Plan
UIN – 117N129V02

2952374 Page 41-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

mentioned that it is made under Section 39. Where nomination is intended to be made to spouse or children or spouse
and children under Section 6 of MWP Act, it should be specifically mentioned on the policy. In such a case only, the
provisions of Section 39 will not apply.

[ Disclaimer : This is not a comprehensive list of amendments of Insurance Laws (Amendment) Act, 2015 and only a
simplified version prepared for general information. Policy Holders are advised to refer the Insurance Laws
(Amendment) Act 2015 notified in the Official Gazette on 23rd March 2015 for complete and accurate detail.

Section 38 of the Insurance Act 1938 as amended from time to time, Assignment and Transfer of Insurance Policies

Assignment or transfer of a policy should be in accordance with Section 38 of the Insurance Act, 1938 as amended by
Insurance Laws (Amendment) Act, 2015. The extant provisions in this regard are as follows:

01. This policy may be transferred/assigned, wholly or in part, with or without consideration.
02. An Assignment may be effected in a policy by an endorsement upon the policy itself or by a separate instrument
under notice to the Insurer.
03. The instrument of assignment should indicate the fact of transfer or assignment and the reasons for the assignment
or transfer, antecedents of the assignee and terms on which assignment is made.
04. The assignment must be signed by the transferor or assignor or duly authorized agent and attested by at least one
witness.
05. The transfer of assignment shall not be operative as against an insurer until a notice in writing of the transfer or
assignment and either the said endorsement or instrument itself or copy there of certified to be correct by both transferor
and transferee or their duly authorised agents have been delivered to the insurer.
06. Fee to be paid for assignment or transfer can be specified by the Authority through Regulations.
07. On receipt of notice with fee, the insurer should Grant a written acknowledgement of receipt of notice. Such notice
shall be conclusive evidence against the insurer of duly receiving the notice.
08. If the insurer maintains one or more places of business, such notices shall be delivered only at the place where the
policy is being serviced.
09. The insurer may accept or decline to act upon any transfer or assignment or endorsement, if it has sufficient reasons
to believe that it is a. not bonafide or b. not in the interest of the policyholder or c. not in public interest or d. is for the
purpose of trading of the insurance policy.
10. Before refusing to act upon endorsement, the Insurer should record the reasons in writing and communicate the same
in writing to Policyholder within 30 days from the date of policyholder giving a notice of transfer or assignment.
11. In case of refusal to act upon the endorsement by the Insurer, any person aggrieved by the refusal may prefer a claim
to IRDAI within 30 days of receipt of the refusal letter from the Insurer.
12. The priority of claims of persons interested in an insurance policy would depend on the date on which the notices of
assignment or transfer is delivered to the insurer; where there are more than one instruments of transfer or assignment,
the priority will depend on dates of delivery of such notices. Any dispute in this regard as to priority should be referred
to Authority.
13. Every assignment or transfer shall be deemed to be absolute assignment or transfer and the assignee or transferee
shall be deemed to be absolute assignee or transferee, except a. where assignment or transfer is subject to terms and
conditions of transfer or assignment OR b. where the transfer or assignment is made upon condition that i. the proceeds
under the policy shall become payable to policyholder or nominee(s) in the event of assignee or transferee dying before
the insured OR ii. the insured surviving the term of the policy Such conditional assignee will not be entitled to obtain a
loan on policy or surrender the policy. This provision will prevail notwithstanding any law or custom having force of
law which is contrary to the above position.
14. In other cases, the insurer shall, subject to terms and conditions of assignment, recognize the transferee or assignee
named in the notice as the absolute transferee or assignee and such person a. shall be subject to all liabilities and equities
to which the transferor or assignor was subject to at the date of transfer or assignment and b. may institute any proceedings
PNB MetLife Century Plan
UIN – 117N129V02

2952374 Page 42-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

in relation to the policy c. obtain loan under the policy or surrender the policy without obtaining the consent of the
transferor or assignor or making him a party to the proceedings
15. Any rights and remedies of an assignee or transferee of a life insurance policy under an assignment or transfer effected
before commencement of the Insurance Laws (Amendment) Ordinance, 2014 shall not be affected by this section.

[ Disclaimer : This is not a comprehensive list of amendments of Insurance Laws (Amendment) Act, 2015 and only a
simplified version prepared for general information. Policy Holders are advised to refer to the Insurance Laws
(Amendment) Act 2015 notified in the Official Gazette on 23rd March 2015 for complete and accurate detail

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 43-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

Section 45 of the Insurance Act 1938 as amended from time to time, Policy shall not be called in question on the
ground of mis-statement after three years

Provisions regarding policy not being called into question in terms of Section 45 of the Insurance Act, 1938, as amended
by Insurance Laws (Amendment) Act, 2015 are as follows:

01. No Policy of Life Insurance shall be called in question on any ground whatsoever after expiry of 3 yrs from a. the
date of issuance of policy or b. the date of commencement of risk or c. the date of revival of policy or d. the date of rider
to the policy whichever is later.
02. On the ground of fraud, a policy of Life Insurance may be called in question within 3 years from a. the date of
issuance of policy or b. the date of commencement of risk or c. the date of revival of policy or d. the date of rider to the
policy whichever is later. For this, the insurer should communicate in writing to the insured or legal representative or
nominee or assignees of insured, as applicable, mentioning the ground and materials on which such decision is based.
03. Fraud means any of the following acts committed by insured or by his agent, with the intent to deceive the insurer or
to induce the insurer to issue a life insurance policy: a. The suggestion, as a fact of that which is not true and which the
insured does not believe to be true; b. The active concealment of a fact by the insured having knowledge or belief of the
fact; c. Any other act fitted to deceive; and d. Any such act or omission as the law specifically declares to be fraudulent.
04. Mere silence is not fraud unless, depending on circumstances of the case, it is the duty of the insured or his agent
keeping silence to speak or silence is in itself equivalent to speak.
05. No Insurer shall repudiate a life insurance Policy on the ground of Fraud, if the Insured / beneficiary can prove that
the misstatement was true to the best of his knowledge and there was no deliberate intention to suppress the fact or that
such mis-statement of or suppression of material fact are within the knowledge of the insurer. Onus of disproving is upon
the policyholder, if alive, or beneficiaries.
06. Life insurance Policy can be called in question within 3 years on the ground that any statement of or suppression of
a fact material to expectancy of life of the insured was incorrectly made in the proposal or other document basis which
policy was issued or revived or rider issued. For this, the insurer should communicate in writing to the insured or legal
representative or nominee or assignees of insured, as applicable, mentioning the ground and materials on which decision
to repudiate the policy of life insurance is based.
07. In case repudiation is on ground of mis-statement and not on fraud, the premium collected on policy till the date of
repudiation shall be paid to the insured or legal representative or nominee or assignees of insured, within a period of 90
days from the date of repudiation.
08. Fact shall not be considered material unless it has a direct bearing on the risk undertaken by the insurer. The onus is
on insurer to show that if the insurer had been aware of the said fact, no life insurance policy would have been issued to
the insured.
PNB MetLife Century Plan
UIN – 117N129V02

2952374 Page 44-55

 PNB MetLife Century Plan
Individual, Non – Linked, Participating,Savings, Life Insurance Plan

09. The insurer can call for proof of age at any time if he is entitled to do so and no policy shall be deemed to be called
in question merely because the terms of the policy are adjusted on subsequent proof of age of life insured. So, this Section
will not be applicable for questioning age or adjustment based on proof of age submitted subsequently.

[ Disclaimer : This is not a comprehensive list of amendments of Insurance Laws (Amendment) Act, 2015 and only a
simplified version prepared for general information. Policy Holders are advised to refer to the Insurance Laws
(Amendment) Act 2015 notified in the Official Gazette on 23rd March 2015 for complete and accurate details.

PNB MetLife Century Plan

UIN – 117N129V02

2952374 Page 45-55

2952374 Page 46-55
2952374 Page 47-55
2952374 Page 48-55
2952374 Page 49-55
2952374 Page 50-55
2952374 Page 51-55
2952374 Page 52-55
2952374 Page 53-55
 Privacy Policy at PNB MetLife India Insurance Company Limited

PNB MetLife Insurance Company India Ltd, (the "Company") is committed to 4. Protection of Customer Personal Information:
protecting Personal Information that the Company collects from its customers (both The Company shall take reasonable steps to ensure that the personal information and/or
current and former,) and/or applicants for its various products and services, either at the Sensitive personal data or information pertaining to the customer is stored in a secure
time of applying for such products and services or through various surveys which a environment protected from unauthorized access, modification or disclosure.
customer agrees to participate in or in the course of providing other feedback to the The Company maintains information pertaining to the customer in its business records
Company regarding its products or services, or when customers registers to receive news as per current regulatory requirements.
or public policy updates or when a customer uses the Company's website.  The Company has comprehensive documented information security policy and
The contents as appearing below describes the Company's Privacy Policy and procedures in line with international standard IS/ISO/IES 27001 to ensure that the
describes how the Company treats the Personal Information collected by it. This information provided by the customer is reasonably secure.
Privacy Policy ("Policy") covers the following:  The Company shall retain Personal Information for as long as required to provide
 Collection of Personal Information. services or otherwise required under the law.
 Use of Personal Information. In case of any privacy related concerns, feedback or grievance, the customer can
 Disclosure of Personal Information contact:
 Protection of Personal Information. Privacy Grievance Redressal Officer,
PNB MetLife India Insurance Co. Ltd.
 Review and updation of Personal
1st Floor, Techniplex -1, Techniplex
 Information.
Complex, Off Veer Savarkar Flyover,
 Changes to the Policy
Goregaon (West) Mumbai – 400062
 Definitions used in this Policy.
Email us at Indiaservice@pnbmetlife.co.in
1 Collection of Personal Information:
The Company and its authorized third parties, in the course of carrying out its business, 5. Updation of Personal Information
may collect different types of Personal Information. This Personal Information collected, The Company strives to keep its records updated with customer's latest information. To
handled, and dealt with by the Company allows the Company to provide the insurance this end, if any discrepancy are found in a customer's Personal Information, either in part
products and services as desired for by the customer or to communicate with the or as a whole, the customer is requested to visit the Company's office or contact its
customer or to comply with current legal and regulatory requirements. This information customer service at 1800 425 6969(toll free) / +91 80 2650 2244 (User paid) or write to
may include the customer's address, age, finances, employment, health, and hobbies. the Company at Indiaservice@pnbmetlife.co.in.
2. Use of Personal Information:
The Personal Information that the Company collects from its customer is held in In case a customer wishes withdraw his/her consent for usage of the personal
accordance with laws and regulations as they apply in India. The Personal Information
may be used by the Company for a number of lawful purposes connected with information so collected by the Company, the customer can write to the Company at
Company's business operations and functions, which include but not limited to: india_privacyoffice@pnbmetlife.com (India_Privacy Office). However, in such an
 Processing customer requests and providing them with products and/or services as event the Company reserves the right to discontinue/cancel the insurance policy /
requested for and thereafter administering the same; services for which, the Personal Information was sought.
 Verification of customer identity as per prevalent laws and regulation; 6. Changes to Company's Privacy Policy
 To process claims and other transactions; The Company reserves the right to update this Policy as necessary from time to time.
 Dealing with requests, enquiries or complaints and other customer care Please check Company's websites periodically for changes to this Policy.
7. Definitions used in this policy
 related activities;
"Personal Information" means any information that relates to a natural person, which,
 Other general administrative and business purposes;
either directly or indirectly, in combination with other information available or likely to
 Carrying out market and product analysis and marketing Company's companies'
be available with the Company, is capable of identifying such person or also includes
 products and services and communicate updates, offers, and promotion ; Sensitive Personal Data or Information.
 Customer analytics on usage pattern and deliver customized content and "Sensitive Personal Data or information" of a person means such personal
advertising that may be of interest to the customer; information which consists of information relating to:-
 Provide the customer with the best customer experience possible; (i) Password
 Address network integrity and security issues; (ii) Financial information such as Bank account or credit card or debit card or other
 Carrying out any activity in connection with a legal, governmental or regulatory payment instrument details
requirement , for the purpose of compliance of a legal obligation, in connection (iii) Physical, physiological and mental health condition
with legal proceedings, in connection with prevention, detection , investigation (iv) Sexual orientation
including cyber incidents, prosecution, and punishment of offences, to protect and (v) Medical records and history
defend Company's rights or property or act in an emergency to protect someone's (vi) Biometric information
safety or to help investigations, monitor or prevent or take action regarding (vii) Any detail relating to the above clauses as provided to body corporate for
unlawful and illegal activities, suspected fraud, potential threat to the safety or providing service and
security of any person; and (viii) any of the information received under above clauses by body corporate for
 Carrying out activities connected with the running of business of the Company, processing, stored or processed under lawful contract or otherwise: provided
such as personnel training, quality control, network monitoring, testing and that, any information that is freely available or accessible in public domain or
maintenance of computer and other systems. furnished under the Right to Information Act, 2005 or any other law for the
3. Disclosure of Personal Information: time being in force shall not be regarded as Sensitive Personal Data Or
The Company may disclose and/or transfer Personal Information at times to Third Information for the purposes of this Policy.
Parties in case it is necessary for providing services to the customer and/or if the
customer has consented for the same. The Company may disclose and/or transfer Third Party: For the purposes of this document, a 'Third Party' is a service provider who
customer information to: associates with The Company and is involved in handling, managing, storing, processing,
 Other companies that provide services directly or indirectly to the customer on protecting and transmitting information of the Company and also includes all sub-
behalf of the Company or to companies that provide services to the contractors, consultants and/or representatives of the Third party
 Company in relation to its business.
 Anyone the Company transfers its business to, either in part or as a whole;
 to any other entity or organization in order for them to understand Company's
environment and consequently, provide better services to the customer.
The Company may share Personal Information, without obtaining the customer's prior
written consent, with government agencies mandated under the law to obtain information
including sensitive personal data or information for the purpose of verification of identity, or
for prevention, detection, investigation including cyber incidents, prosecution, and
punishment of offences, or where disclosure is necessary for compliance of a legal
obligation. Any Personal Information may be required to be disclosed to any Third Party by
the Company by an order under the law for the time being in force.

2952374 Page 54-55

Policy Number 25796675
First Premium Receipt / àW_ àr{_`_ agrX
/nm°{bgr g§»`m
Letter Dated 06/Nov/2024

Mr. Gowrav Pavanaskar

/nÌ {XZ§mH
Radhakrishna Pavanaskar
2-44, Pedamale house Loretto,
Amtady,Dakshina Kannada
Bantval
Karnataka

574211
Mobile No : 8105854730
Premium Details

Receipt Receipt Policy Product Name Premium Service tax/GST Reinstatement Excess Premium
Date Number Number / Riders Amount (Rs.) & Amount(Rs.) Balance (Rs.)
other applicable
/agrX {XZ§mH /agrX g§»`m /nm°{bgr g§»`m /ßbmZ Zm_ / amBSg© /àr{_`_ am surcharges /~hmbr am{e /A{V{a³V àr{_`_
{e (é) /godm H a/OrEgQr (é) ~¡bo§g(é)
Am¡a AÝ` bmJy A
{Y^ma
PNB MetLife Century
29/Oct/2024 C6A06886 25796675 60,000.00 2700.00 0.00 0.00
Plan-80 yrs
PNB MetLife Accidental 0.00 0.00
Death Benefit Rider Plus
PNB MetLife Accidental 0.00 0.00
Disability Rider

Revenue stamp duty of Rs.1.00 assigned towards Premium Receipts and paid through Certificate No. CSD/369/2022/2428 dated 06/06/2022
PNB MetLife Critical Illness 0.00 0.00
Rider

PNB MetLife Serious Illness 0.00 0.00

Rider

Total 62,700.00
/Hw b
Customer State Code SAC code Place of Taxable Value Invoice Value IGST @ CGST @ SGST @
GSTIN No Supply 18% 9% 9%
/amÁ` H$moS> /g¡H$ H$moS> /H$a `mo½` _yë` /BZdm°Bg _yë`
/J«mhH$ /H$r OJh
OrEgQ>rAmB©EZ g§ Amny{V©
MH 997132 KA 15,000.00 62,700.00 2,700.00 0.00 0.00

Next Due Date / AJbr VmarI : 29/Oct/2025 To save paper, customer who pay monthly will
receive printed receipts quarterly. To help us keep
Bonus Accumulated / ~moZg g§{MV : NA
you updated with important information about your
Agent Name / EOo§Q Zm_ : AKASH RAMA policy, please update your mail ID by sending SMS
< UPDATE "your mail ID" > to 5607071. Monthly
receipts will be sent to the registered mail ID and
Agent Contact Number / EOo§Q g§nH © Z§~a : 7484875331
also will be available on PIP at
www.pnbmetlife.com.

You have taken a wise decision by taking the policy and giving your loved ones the safety of
unbroken coverage. Continue paying your premium on time and enjoy the full benefits of your policy.

In case of any queries please visit the nearest PNB MetLife branch. You can also contact us at the various customer touch points given below. Please note: (1) All Premiums paid to
keep a Life Insurance Policy inforce are eligible for a deduction under Section 80C of the Income Tax Act, 1961, subject to amendments made thereto from time to time. Premiums
paid towards Critical Illness rider, Waiver of premium rider and Disability Rider are eligible for a deduction under Section 80D of the Income Tax Act, 1961, subject to amendments
made thereto from time to time. Please consult your tax advisor for applicable tax benefits. (2 If premium due in one financial year is being collected in advance in earlier financial
year, insurers may collect the same for a maximum period of three months in advance of the due date of the premium. The premium shall be adjusted on the due date even if it has
been received in advance. Premium payment received is subject to realization. Any excess payment received would be refunded without interest. (3) Service tax/GST and relevant
cess are charged at rates applicable from time to time and are to be borne by the Policyholder (4) Excess premium balance would be adjusted in your next premium payment. (5) For
applicable customers who have not furnished the Form 60/61 along with the renewal premium, PNB MetLife presumes that the reason, furnished at the time of applying for the policy,
for the customer to not have a PAN continues to remain the same.(6). UIN 117N129V02. (7).This is a computer generated statement and does not require any signature. LD/2014-
15/153.EC114

Beware of spurious phone calls and fictitious/fraudulent offers. The IRDAI clarifies to the public that (1) IRDAI and its officials are not involved in activities like
the sale of any kind of insurance or financial products, nor do they invest premiums. (2) IRDAI does not announce any bonus and members of the public
receiving such phone calls are requested to lodge a police complaint, along with the call details and the phone number.

PNB MetLife GSTIN :27AACCM6448H1ZA

PNB MetLife India Insurance Company Limited
Formerly known as MetLife India Insurance Company Limited
Unit No. 101 1st Flr Techniplex-1 Veer Savarkar Flypver Off S V Road Goregaon west-400062
Registered Office:Unit No. 701, 702 & 703, 7th Floor, West Wing, Raheja Towers, 26/27 M G Road, Bangalore - 560001.
Helpline: 1-800-425-6969
Email:indiaservice@pnbmetlife.co.in and website www.pnbmetlife.com,
IRDAI registration number 117, CI no. U66010KA2001PLC028883

2952374 Page 55-55