Features and Benefits of Bachat Yojana Plan

The importance of long-term savings plans is undeniable given the uncertainty in life today. PNB MetLife plans ensure that you and your loved ones have a financially secure life and continue to achieve your present and future goals through its 10 year savings plan with life insurance - Bachat Yojana Plan.

The Bachat Yojana Plan provides a comprehensive life insurance cover as well as helps build a saving corpus for your long-term needs. The best part is that this 10 year savings plan comes at highly economical and affordable premiums.

Key Features of the Bachat Yojana Plan:

• The dual benefit of insurance and disciplined savings.
• Highly affordable premiums that encourage long-term savings.
• Limited pay period of only 10 years while life insurance coverage extends for 15 years.
• Provides sum assured along with bonus, if any, on the maturity of the plan.
• Offers sum assured along with bonus, if any, on the death of the life insured during the policy tenure.

Key Benefits of the Bachat Yojana Plan:

• Financial protection for your loved ones in your absence.
• Sum assured + bonus (simple revisionary bonus and terminal bonus) to take care of long-term savings.
• Affordable premiums that easily fit your pocket.
• Limited premium paying term of 10 years.
• Flexibility to choose the premium payment mode – annual, semi-annual, monthly and payroll savings program (PSP).
• Option to avail loan against the policy.
• Tax benefits as applicable under Section 80C and Section 10(10D) of the Income Tax Act, 1961.

Specifications of the Bachat Yojana Plan:

Eligibility criteria:

Product Specifications at a glance:

Other Provisions and Features of the Bachat Yojana Plan:

Bachat Yojana Plan is an ideal long-term savings plan as it provides you with the following additional features:

• Loan facility: You can get a loan against your Bachat Yojana policy. The maximum amount of loan you can take is limited to 90% of the Special Surrender Value, less than any unpaid premiums at the end of the relevant policy year. The rate of interest is decided by the company.
• Free look period: You can cancel the policy within 15 days from the receipt of the Bachat Yojana Plan. Your premiums will be refunded after deduction of minimal charges.
• Grace period: If you fail to pay your policy premiums before the due date, you get a 30-day (15-days for monthly and PSP premium mode) grace period to fulfil your dues without incurring any interest.
• Surrender value: If you pay first two year’s policy premiums, the policy will acquire a surrender value. The surrender value is the maximum of the Guaranteed Surrender Value and Special Surrender Value.

PNB MetLife Bachat Yojana Plan fits your insurance, savings and budget needs perfectly. Buy this plan with the help of PNB MetLife saving plan calculator, and build a strong foundation for your future.