PNB MetLife Mera Term Plan Plus Review: Among the Industry's Highest Claim Ratios
Pros
- Among the highest individual claim settlement ratios in the industry
- Accessible via the large PNB banking network
- Standard, solid rider menu
- Competitively priced against better-known competitors
Cons
- Less brand recognition and marketing visibility than top competitors
- Fewer independent reviews and comparisons available
- Digital-first buying experience less polished than newer insurtech-style insurers
- Rider menu not as extensive as some private-insurer leaders
The claim-ratio surprise
PNB MetLife doesn't always make it onto every mainstream comparison list, but recent IRDAI data has placed its individual claim settlement ratio at or near the very top of the industry -- ahead of several bigger, more heavily marketed insurers.
Plan features
Mera Term Plan Plus offers the standard set of term-plan features: flexible premium payment terms, optional riders for critical illness and accidental death, and tax benefits under the usual sections. Nothing exotic, but solidly built.
Why it's overlooked
As a joint venture between Punjab National Bank and MetLife, distribution leans more on PNB's banking network than heavy digital-first marketing, which may explain why it appears less often in influencer and comparison-site "best of" lists despite the strong claim data.
Bottom line
Worth a serious look precisely because it's under-the-radar -- the claim settlement ratio alone puts it in contention with the biggest names, and it's accessible to the large base of PNB banking customers.
Claim settlement ratio verified against insurer disclosures and IRDAI-sourced comparison data as of mid-2026 -- re-verify current CSR and premium quote before publishing or purchasing.
