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To provide our customers wide range of financial services, our Bank has entered into corporate agency agreement with the following Life Insurance companies:

Life Insurance

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1. PNB Metlife India Insurance Company Limited.

PNB MetLife brings together the financial strength of a leading global life insurance provider, MetLife, Inc., and the credibility and reliability of PNB, one of India`s oldest and leading nationalized banks. The vast distribution reach of PNB together with the global insurance expertise and product range of MetLife makes PNB MetLife a strong and trusted insurance provider. It was in 2011 that MetLife India launched bancassurance partnership with Punjab National Bank (PNB), and in 2013, Punjab National Bank (PNB) acquired 30% stake in MetLife India Insurance Co Ltd, making it PNB MetLife India Insurance Company Limited.

PNB MetLife is present in 107 locations across the country with access to over 100 million customers in more than 11,000 locations through its strong bank partnerships and other partners. PNB MetLife partners with the customers for their entire ‘Circle of Life’ covering their 4 different stages of life – Child Education, Family Protection, Long Term Savings and Retirement solutions through our comprehensive product portfolio.

We have settled 96.21%* of the claims received for retail business and 98.81%* for the group business for FY 2018-19.

PNB MetLife believes that all rightful claims should be settled promptly and efficiently while ensuring a satisfying experience to our customers, and demonstrates this by:

  • Assessing claims in a fair and objective manner
  • Extending support to the claimant at every stage of the process
  • Keeping the customer experience in mind while assessing all legitimate claims

We have also introduced Claims Assure, a service for settling claims up-to 1Crs within 24 hours, subject to conditions.

Customer Service

PNB MetLife enables 24*7 digital servicing through khUshi, a customer service app, powered with AI, for ease and convenience of its customers .

In case of a Grievance, customers can get in touch with PNB MetLife through email : indiaservice@pnbmetlife.co.in or Toll Free number 1800-425-6969 ( Within India only) or 91-80-26502244 (10am to 7pm Mon to Sat), with IVR available 24*7

Visit PNB MetLife Website : www.pnbmetlife.com PNB MetLife Branch Locator : https://www.pnbmetlife.com/customer-service/contact-us.html


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2. Canara HSBC OBC Life Insurance Company Limited.

Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited is a joint venture between Punjab National Bank (holding 23%), Canara Bank (holding 51%) and HSBC Insurance (Asia Pacific) Holdings Limited (holding 26%).The Company has a well-diversified portfolio of insurance products and solutions, tailored to the specific needs of the different social and economic strata of the society.

The Company brings together the trust and market knowledge of two of the biggest and most experienced Public Sector Banks in India with the global insurance and bancassurance expertise of HSBC. The Company through its prudent investment strategy has demonstrated consistent fund performance, exceeding benchmarks across all funds.

With vast network presence through branches of all three banks, along with new age tech servicing avenues, the Company is committed to serve its customer as per their preference.


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3. Life Insurance Corporation of India

LIC of India has been established as a Corporation in 1956 by an act of Parliament and allowed sovereign guarantee to its policyholders under Section 37 of LIC of India Act, 1956. As on date, LIC maintains the largest Market Share among all Life Insurers by attaining 75.90% on policies and 68.74% on First Premium Income as on 31.3.2020.

In Bancassurance business, LIC is also one of the leading players tied up with 12 PSU Banks, 5 Pvt Sector Banks, 18 Regional Rural Banks, 36 Co-operative Banks & 1 Foreign Bank. Banks have been enabled to offer online/offline new Life Insurance policies to its customers across the country and providing facilities of paying seamless renewal premiums through direct debit or NACH (National Automated Clearing House). LIC is offering a bouquette of most innovative products comprising Endowment Assurance plan, Money Back, Whole life plan, Term Insurance plans, Aadhar based plans, Pension plans, Health plans & ULIPs catering to the needs of people for insurance as well as wealth creation.

Disclaimer

  • Insurance is the subject matter of the solicitation.
  • For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. Participation by customers is on voluntary basis.
  • Contract will be between Insured & Insurer and not between Insured & the Bank. Punjab National Bank is a licensed Corporate Agent under the license number CA0256.

General Insurance

To provide our customers with wide range of bancassurance services and as per open architecture model of IRDAI, our bank has entered into corporate agency tie-up with 5 Insurance companies.

  • Oriental Insurance Co. Ltd. (OICL), (General Insurance)
  • Bajaj Allianz General Insurance Co. Ltd. (BAGIC), (General Insurance)
  • Chola MS General Insurance Co. Ltd. (CHOLA), (General Insurance)
  • Religare Health Insurance Co. Ltd (RHICL), (Stand Alone Health Insurance)
  • Star Health and Allied Insurance Co Ltd., (Stand Alone Health Insurance)

All General Insurance partners are offering an array of products e.g. Fire Insurance, Motor Insurance, Marine Insurance & Misc. Insurance Policies like Shop-keepers’ Policy, Theft/ Burglary Policy, Fidelity Guarantee Policy, Personal Accident Policy, Overseas Travel Insurance Policy, House Hold Goods Policy and customized Health Insurance Policy specifically designed for PNB customers, etc. at a competitive price with assured post sale services.

Our SAHI (Stand Alone Health Insurance) partner i.e. RHICL & STAR HEALTH are offering all ranges of health insurance products specially designed for PNB customer at a competitive price with assured post sale services.

The customized products offered by above mentioned insurance companies are one of the best in the industry. For the ease of our customers, the comparative chart of Health Insurance Policies offered by above mentioned companies is as follows:

Click here for Comparative Sheet of customized health insurance products of all insurance partners.

Click here for Disclosure of General Insurance Commission and Fees

Disclaimer

  • Insurance is the subject matter of the solicitation.
  • For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. Participation by customers is on voluntary basis.
  • Contract will be between Insured & Insurer and not between Insured & the Bank. Punjab National Bank is a licensed Corporate Agent under the license number CA0256.

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