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    LONG TERM SAVINGS

    What are the benefits of whole life insurance cover?

    Last Updated On 24-11-2016

    Unlike a term life insurance, a whole life cover promises to cover you for the rest of your life, based on the premiums paid. While safeguarding you all for life, a whole life cover also has certain striking benefits:

    Cash Benefit:
    A whole life insurance has a cash value factor that gets amassed over a period of time and this is the biggest benefit of owning this policy. This policy also lets the person borrow against some cash value from the policy up to the stipulated limit. In case of the policy buyer’s demise, the outstanding loan balance which is left of his policy will be deducted from the death benefit, which will ensure interest.

    Lifelong Protection:
    If we consider a term life policy, it expires when the coverage ends and then one is left with the choice of buying a new policy or alternatively let it expire. A prime benefit of the whole life cover is that it is regarded as a permanent life insurance policy, which is designed to provide the policy holder with a lifetime coverage protection without any changes in the premium amount or the time period.

    Flexibility:
    This policy also offers the buyer a certain amount of flexibility in regards to its potential of accumulating cash value over a period of time, which the buyer can use for personal reasons. One can also choose to leave it untouched with the likelihood of growing the policy’s cash value over a period of time.

    A whole life insurance cover cannot be revoked, cancelled or reduced for any reason except in instances of fraud or non-payment. Thus, this makes for a dependable life insurance that gives the buyer a sense of satisfaction because of the long term investment.

    To know more about term plan, term insurance, long term savings & retirement plan visit PNB MetLife website.

    Disclaimer:

    The aforesaid article presents the view or an independent writer who is an expert on financial and insurance matters. PNB MetLife India Insurance Co. Ltd. doesn’t influence or support views of the writer of the article in any way. The article is informative in nature and PNB MetLife and/ or the writer of the article shall not be responsible for any direct/ indirect loss or liability incurred by the reader for taking any decisions based on the contents and information given in article. Please consult your financial advisor/ insurance advisor/ before making any decision.

    PNB MetLife India Insurance Company Limited, Registered office address: Unit No. 701, 702 & 703, 7th Floor, West Wing, Raheja Towers, 26/27 M G Road, Bangalore -560001, Karnataka.
    IRDAI Registration Number 117. CI No: U66010KA2001PLC028883. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale.
    The marks “PNB” and “MetLife” are registered trademarks of Punjab National Bank and Metropolitan Life Insurance Company, respectively. PNB MetLife India Insurance Company Limited is a licensed user of these marks.
    Call us Toll-free at 1-800-425-6969.. Phone: 080-66006969, Website: www.pnbmetlife.com, Email: indiaservice@pnbmetlife.co.in or Write to us: 1st Floor, Techniplex -1, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West), Mumbai – 400062, Maharashtra. Phone: +91-22-41790000, Fax: +91-22-41790203

    EC295 LD/2019-20/306

    BEWARE OF SPURIOUS/FRAUD PHONE CALLS!
    • IRDAI is not involved in activities like selling policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

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    Disclaimer

    Collapsed Expanded

    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 PlansTerm PlanProtection PlansLong Term Savings Plans , Retirement Plans & Child Education Plan.

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