Kathmandu. Life insurer PNB MetLife India Insurance Company has introduced a term life insurance plan for salaried employees.
The insurance plan has been named PNB MetLife DigiProtect Ayurva Yojana, which can be purchased only through digital means through a purely online platform.
According to a press release issued by the company on Thursday, this insurance product is being sold through a fully digital platform in partnership with Policybazaar. Policybazaar.com is a distributor and insurance intermediary in India that sells policies through digital means.
PNB MetLife simplifies access with a digital-first approach. The scheme is targeted at second- and third-tier urban sector jobs.
The key features of the plan include the offer of life cover, treatment expenses in case of illness, facility to cancel the policy before maturity, and option to withdraw the sum insured at no additional cost.
This includes the flexibility to defer premium payment for one year and restart the policy after one year, subject to certain conditions. Similarly, the first year premium waiver and other facilities have also been included to make this insurance plan more affordable.
Since there is a practice of copying the insurance policies that are prevalent in the Indian market in Nepal, if such insurance policies can be brought in the Nepali market as well, it will be a great risk for the employed people to bear the risk at a limited premium.
