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PNB MetLife Guaranteed Future Plan

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This plan is created to enable you to systematically save and protect you against unforeseen and unfortunate life events, while also offering you guaranteed returns. PNB MetLife Guaranteed Future Plan ensures that you are able to meet the financial goals in your life with a higher degree of certainty while also giving you complete control and flexibility to customize your plan as per your unique requirements.

PNB MetLife Guaranteed Future Plan in a nutshell

  • Guaranteed 1 Benefits.
  • Flexibility to choose benefits.
  • Guaranteed Additions2 & Boosters3 to boost your corpus.
  • Higher Premium Rewards.
Tax benefits and optional features

Market competitive

  • Long-term post-tax guaranteed returns

Benefit options

  • Lumpsum
  • Income
  • Lumpsum + Income

Enjoy 0% TDS**

  • No TDS** applicable

Best-in-class customization

  • Choose any date to commence the income pay-out to coincide with any special date pke birth date or anniversary date.
  • Deferment of 1 or 2 years
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What you get

Premium Payment Flexibility

Choose from various flexible premium payment options from 5, 7 up to 15 years or Single Pay.

Payout Flexibility

You can choose to receive your benefits either as a Lumpsum or a Guaranteed Income.

Guaranteed Income

Get guaranteed income ranging from 103% to 245% of annualised premium.

Safeguard Against Uncertainties

Get a life cover for the entire policy term and the option to enhance your protection through Accidental Death and Serious Illness riders.

Tax Benefits

Enjoy tax benefits on premiums paid and benefits received as per prevailing tax laws.

Loan Against Policy

You may take a loan against your policy once it acquires a Surrender Value up to 90% of the Surrender Value of your policy.

Benefits with PNB MetLife Guaranteed Future Plan

Limited Premium Paying Plan

No TDS** deduction on Premium Paying Policy (In-Force#) benefit payout

Payable as -

  • Income Benefits.
  • Maturity Benefits.
  • Booster Benefits.
    (In addition to guaranteed income, booster pay-outs are done at  specific intervals.)

Single Premium Paying Plan

No TDS** deduction on benefit payouts.

Available on payout less than INR 1 Lakh.

Death Benefit

No TDS** deduction on death benefit

Payable for-

  • Premium Paying Policy (In-Force/ Paid-up#)

PNB MetLife Accidental Death Benefit Rider Plus

This rider provides additional protection in the event of the death of the Life Assured in an accident, over and above the death benefit provided under PNB MetLife Guaranteed Future Plan.

In the event of the death of the life insured due to an accident occurring within the policy term, 100% of Rider Sum Assured shall be payable. The Policyholder can opt for this rider either at inception along with PNB MetLife Guaranteed Future Plan or at any policy anniversary during its tenure.

PNB MetLife Serious Illness Rider

This rider provides additional protection in the event of the Life Assured being diagnosed with any of the critical illnesses listed in the rider. This additional protection is provided over and above the death benefit under the PNB MetLife Guaranteed Future Plan.

The rider provides 100% of the Rider Sum Assured on survival of 30 days following the confirmed diagnosis of the Person Insured suffering from one of the below Insured Critical Illnesses:

1. Myocardial Infarction (First Heart Attack – Of
 Limbs.Specified Severity)

2. Stroke Resulting in Permanent Symptoms

3. Cancer of Specified Severity

4. Open Chest CABG

5. Kidney Failure Requiring Regular Dialysis

6. Major Organ / Bone Marrow Transplant

7. Aorta Surgery

8. Total Blindness

9. Open Heart Replacement or Repair of Heart Valves

10. Permanent Paralysis of Limbs.

The Policyholder can opt for this rider either
at inception along with PNB MetLife Guaranteed Future Plan or at any policy anniversary during
its tenure.

With PNB MetLife Guaranteed Future Plan:

  • Choose from 4 Plan Options -
    Option 1: Endowment Option.
    Option 2: Income Option
    Option 3: Income + Lumpsum Option
    Option 4: Income + Boosters
  • Guaranteed Income factor ranging from 103% to 245% of Annualised premium4
  • Booster additions ranging from 30% to 406% of Annualised premium in addition to your regular income payout5with Income + Boosters option.

What you don’t get

Suicide Exclusions

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 or beneficiary of the Policyholder shall be entitled to 80% of the total Premium paid till the date of death under the Policy death or Surrender Value available as on the date of death, whichever is higher, provided the Policy is in Inforce status. We shall not be liable to pay any interest on this amount.

How can PNB MetLife Guaranteed Future Plan benefit you

With its guaranteed benefits and the option to boost your corpus, the PNB MetLife Guaranteed Future Plan offers you and your family a host of financial benefits. Take a look at the many ways in which this plan can meet your needs.

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Frequently Asked Questions

What are the product benefits of the PNB MetLife Guaranteed Future Plan?

  • Pay as you like: Choose from various premium payment options from 5, 7 to 15 years or Single pay.
  • Guaranteed Income factor ranging from 103% to 245% of Annualised premium4.
  • Additional benefi­ts to boost your corpus –
    • Guaranteed additions2 which accrue with every premium payment.
    • Wealth additions6 which accrue after completion of premium payment term.
    • High Premium Reward for higher premium payment.
  • Booster additions ranging from 30% to 406% of Annualised premium in addition to your regular income payout5 with Income + Boosters option.
  • Flexibility to receive your income payout on the date of your choice7.
  • Protection: Safeguard against uncertainties.
  • Get life cover for the entire policy term.
  • Option to enhance your protection through Accidental Death and Serious Illness rider coverage.
  • Tax benefi­ts: You may be eligible to avail tax benefits on premiums paid and benefits received, as per prevailing tax laws.
  • Please refer to the Sales Brochure for further details.

What are the Payout Options under this plan?

The needs of every customer are different. Some may require the policy to act as an income replacement system, while others may expect it to take care of liabilities. PNB MetLife Guaranteed Future Plan takes cognizance of every customer’s needs and offers four different payout options.

  • Option 1: Endowment Option – Total Premium payable along with accrued Guaranteed Additions and accrued Wealth additions is paid as a Lumpsum at the end of the policy term.
  • Option 2: Income Option – Guaranteed Income payouts are paid during the Income Payout Period.
  • Option 3: Income + Lumpsum Option – Guaranteed Income payouts are paid during the Income Payout Period and accrued Wealth additions are paid as a Lumpsum at the end of the policy term.
  • Option 4: Income + Boosters – Guaranteed Income payouts are paid at regular intervals during the Income Payout Period. Additional payouts termed as ‘Booster Additions’ will be paid at specifed intervals along with the Guaranteed Income Payouts. The above benefits will be payable provided the policy in-force and all due instalment premiums have been paid. Refer to the below table for more details.

Benefits

Option 1
Endowment

Option 2
Income

Option 3
Income + Lumpsum

Option 4
Income + Boosters

Survival - On survival of the Life Assured, provided all due premiums are paid and the policy is fully in-force.

Not applicable
  • Annualised Premium plus
  • Accrued Guaranteed Additions
  • Annualised Premium plus
  • Accrued Guaranteed Additions
  • Annualised Premium plus
  • Accrued Guaranteed Additions
  • Booster Additions with specified income payouts

Maturity - On survival of Life Assured to maturity date provided all due premiums are paid
  • Total Premiums payable plus
  • Accrued Guaranteed Additions plus
  • Accrued Wealth Additions

Not applicable
  • Accrued Wealth Additions

Not applicable

Death - On deathof the Life Assured during the policy term

Sum Assured on Death shall be defined as Higher of:

  • Basic sum assured (BSA), which is the absolute amount assured to be paid on death.
  • Annualized/Single Premium multiplied by the Death Benefit Multiple.
  • 105% of Total Premiums Paid up to date of death.

Where: Basic Sum Assured (BSA) is defined as:
For Single Pay: 1.25 times Single Premium
For Limited Pay: 10 times Annualized Premium

The death benefit payable on death shall not be less than --
Total Premiums Paid plus accrued Guaranteed Additions and accrued Wealth Additions (if any) till the date of death.

The death benefit payable on death shall not be less than --
Total Premiums Paid plus accrued Guaranteed Additions less Guaranteed Income Payouts made during the Income Payout Period (if any) till date of death.

The death benefit payable on death shall not be less than --
Total Premiums Paid plus accrued Guaranteed Additions and accrued Wealth Additions (if any) less Guaranteed Income Payouts made during the Income Payout Period (if any) till date of death.

The death benefit payable on death shall not be less than --
Total Premiums Paid plus accrued Guaranteed Additions and accrued Booster Additions less Guaranteed Income Payouts made during the Income Payout Period (if any) till date of death.

What are the eligibility criteria for PNB MetLife Guaranteed Future Plan?

Premium Paying Term (PPT) and Policy Term (PT) (Years):

Following PT and PPT combinations are available:
For Option 1: Endowment Option –

PPT 5 7 8 9 10 12 12 13 14 15
PT 12 15 16 18 20 20 24 26 28 30

For Options 2,3 & 4:

PPT

SP$

5*

7

8

9

10

11

12

13

14

15

PT

15,20 & 30

12

14, 15 & 16

16, 17 & 18

18, 19 & 20

20, 21 & 22

22, 23 & 24

24, 25 & 26

26, 27 & 28

28, 29 & 30

30, 31 & 32

*Not available under Option 4: Income + Booster $SP will not be available for Option 3 & POS channel
Maximum Policy Term allowed for policies sold through POS channel is 20 years

Minimum age8 at entry (Years)

Policy Term (Years) Minimum Entry Age

12

6 years last birthday

14

4 years last birthday

15

3 years last birthday

16

2 years last birthday

17

1 year last birthday

18 and above

0 (30 days)

Maximum age8 at entry (Years)

  • 60 years
  • For policies purchased through POS channel, the maximum age at entry will be 55 years as per prevailing POS guidelines, as amended from time to time

Maximum age8at Maturity (Years)

  • Single pay: 80
  • Limited pay: 75 Years
  • For policies purchased through POS channel, the maximum age at maturity for Limited pay will be 65 years; as per prevailing POS guidelines, as amended from time to time.

Minimum Annualized Premium (Rs.)

  • Single Pay: Rs. 2,00,000
  • Limited Pay (Other than POSP): Rs. 24,000
  • Limited Pay (Sourced through POSP): Rs. 12,000

Maximum Annualized Premium (Rs.):

  • 1,00,00,00,000 subject to maximum Basic Sum Assured limit as per Board Approved Underwriting Policy.

Minimum Basic Sum Assured:

  • For Limited pay: 10 x Annualised premium
  • For Single pay: 1.25 x Single premium

Maximum Basic Sum Assured:

  • As per Board approved underwriting policy.
  • For policies purchased through POS channel, the maximum Sum Assured will be Rs. 10 lakh as per prevailing POS guidelines, as amended from time to time.

Rider Options:

  • PNB MetLife Accidental Death Benefit Rider Plus,
  • PNB MetLife Serious Illness Rider
  • Riders will not be available for policies purchased through POS channel.

Premium payment modes:

  • Single / Yearly / Half Yearly / Monthly
  • Single pay option will not be available with Option 1 and Option 3.

8 All reference to age are as on age last birthday. For policies issued to minor lives the risk cover starts immediately at inception. Also, in case the life assured is a minor, the policy will vest with the life assured when the life assured attains an age of 18 years.

How can I purchase PNB MetLife Guaranteed Future Plan?

You can purchase this plan offline through any of the below methods:

Disclaimer:

PNB MetLife Guaranteed Future Plan is an Individual, Non-Linked, Non-participating, Savings Life Insurance Plan (UIN: 117N124V01)

  • 1 Terms and conditions apply
  • 2 Guaranteed Additions (GA) will accrue throughout Premium Payment Term as a percentage of Annualised Premium and will vary based on Premium payment term, entry age and benefit option chosen
  • 3 Boosters will be available with ‘Income + Boosters’ Option only and will not be available with other options.
  • 4 Guaranteed Income Payout percentage will vary based on Premium payment term, age, policy term and benefit option chosen. Guaranteed Income is not payable in Option 1.
  • 5 Booster additions will be available with ‘Income+ Booster Option’ percentage will vary based on Premium payment term, age, policy term.
  • 6 Wealth Additions (WA) will be available with ‘Endowment’ & ‘Income + Lumpsum’ options. WAs accrue after completion of Premium Payment Term as a percentage of Total Premiums Payable and will vary based on Premium payment term and entry age.
  • 7 Policyholder cannot choose the date preceding the due date of the income payout.
  • *Guaranteed Income shown for entry age 40 years, policy term of 20 years & Annualised premium of Rs. 1 lakh, where Annualised Premium shall be the premium payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.
  • **Tax Deduction at Source {TDS} is subject to extant of provisions applicable under Section 194DA Income Tax Act, 1961.The rate ofTDS at present is 3.75% (5% from 1st April 2021) on the amount of income comprised therein i.e.,after deducting the amount of insurance premium paid by a resident assessee from the total sum received and is subject to change from time to time. However,TDS is not deductible if the amount of such payment is less t han one lakh rupees in a financial year. TDS rates are subject to change from time to time. For Single Premium Paying Plan,TDSdeductionwillapply where Income   or Booster payouts in any financial year exceed INR 1Lakh. Please consult your tax advisor regarding availability of tax benefits for the premiums paid and proceeds received under the policy.
  • #In Force policies are policies where due premiums are paid and all original benefits remain fully inforce. Incasedue premiums are unpaid,policy may be lapsed or paid-up and benefits may be unavailable or partially available. Details on TDS deduction for paid-up policies can be accessed by calling us Toll-free at 1-800-425-6969 or by writing to us at indiaservice@pnbmetlife.co.in

AD-F/2020-21/637

Disclaimer

As your trusted life insurance partner, PNB MetLife is with you amidst the current COVID-19 outbreak. Our policies also cover COVID-19 Claims. In case of a Death Claim, kindly submit the signed Claim Intimation Letter mentioning the policy number, brief of the insured event and other claim documents on the email mentioned herewith. Please write-in to us at claimshelpdesk@pnbmetlife.com or indiaservice@pnbmetlife.co.in. You can also call us on 1800-425-6969 for death claims intimations and for any queries on Monday - Saturday between 10:00 am - 7:00 pm.

PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance Plans, Term Plan,  Protection Plans,  Long Term Savings Plans ,  Retirement Plans,  Child Education Plan .