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PNB MetLife Guaranteed Income Plan

PNB MetLife Guaranteed Income Plan

PNB MetLife Guaranteed Income Plan is a non-linked, non-participating endowment policy that provides you with a guaranteed income plan to cherish those little joys in life. You will also get a lump sum benefit to help you turn your big dreams into reality with the help of this savings plan.

Key Benefits of PNB MetLife Guaranteed Income Plan : 

  • Guaranteed Income Benefit
  • Guaranteed Maturity Benefit
  • Life Cover for the Entire Policy Term

 Why PNB MetLife Guaranteed Income Plan :

  • Create a second income to support your family
  • Plan your goals with a lump sum at maturity
  • Secure your family’s future
  • Meet important milestones of your child’s education
  • Fund your annual vacation

Product Benefit :

  1. Guaranteed Income Benefit: Get regular annual income ranging from 11% to 13% of Basic Sum Assured (BSA),based on your Premium Payment Term
    • 5 Pay / 10 term – 5 annual payments starting from 6th policy anniversary, each equal to 11% of Basic Sum Assured
    • 5 Pay / 15 term – 10 annual payments starting from 6th policy anniversary, each equal to 11% of Basic Sum Assured
    • 7 Pay / 15 term – 8 annual payments starting from 8th policy anniversary, each equal to 11% of Basic Sum Assured
    • 10 Pay / 20 term – 10 annual payments starting 11th policy anniversary, each equal to 13% of Basic Sum Assured
    • 12 Pay / 20 term – 8 annual payments starting 13th policy anniversary, each equal to 13% of Basic Sum Assured
  2. Pay as you like : Choose to pay premiums for 5, 7, 10 or 12 years
  3. Survival Benefits: In addition to the Guaranteed Income Benefit, get 30% to 55% of Basic Sum Assured (BSA) on Maturity, based on your Policy Term
    • 10 term – 30% of Basic Sum Assured, payable at the end of policy term
    • 15 term – 35% of Basic Sum Assured, payable at the end of policy term
    • 20 term – 55% of Basic Sum Assured, payable at the end of policy term
  4. Death Benefit: Sum assured on death is payable on death during policy term Where Sum Assured on Death is the highest of;
    • Annualized Premium X Multiple of Annual Premium (10x or 7x, depending on age at entry) 105% of all premiums paid as on date of death
    • Sum Assured on Maturity
    • Basic Sum Assured (BSA)

Eligibility

 

           Premium Payment Type                   5 Pay                    5 Pay                    7 Pay                   10 Pay                   12 Pay
     Premium Payment Term (years)                        5                       5                         7                        10                        12
     Policy Term (years)                      10                      15                        15                        20                        20
  Maximum Age at entry              60 Years               60 Years               60 Years               60 Years               60 Years
      Maximum Premium                As per Board approved underwriting policy                As per Board approved underwriting policy               As per Board approved underwriting policy               As per Board approved underwriting policy               As per Board approved underwriting policy
       Maximum Sum Assured                   As per Board approved underwriting policy                   As per Board approved underwriting policy                   As per Board approved underwriting policy                   As per Board approved underwriting policy                   As per Board approved underwriting policy
       Premium Payment modes                 Yearly / Half Yearly / Monthly                  Yearly / Half Yearly / Monthly                  Yearly / Half Yearly / Monthly                   Yearly / Half Yearly / Monthly                  Yearly / Half Yearly / Monthly