PNB MetLife Guaranteed income plan is  non-participating, non-market linked endowment policies that offer you fixed returns at regular intervals at a predetermined rate.

Advantages of a Guaranteed Income Plan

1. Alternate Source of Income to Support Your Expenses
   Having a regular source of income other than the salary helps you in planning the monthly budget efficiently. With the high living standards in most cities, the demand for new products and services to cope up with the standards continues to increase. This is where a second income comes in handy.
   
2. Plan Your Goals with the Maturity Benefit
   The lump-sum amount assured at the time maturity provides a much-required cushion for your long-term financial goals. Usually, saving for such long-term goals can be very tough, especially for middle-class individuals. There is always some or the other financial requirement that crops now and then, thereby making you withdraw your hard-earned savings. So, with the dual benefit of this income plan, you can meet both your short-term as well as long-term goals with ease.
   
3. Safeguard Your Family’s Future
   One more added benefit that comes along with the policy is a life cover. Being the basic and most essential form of financial protection, a guaranteed income plan ensures that your family is safe even when you are not around. Furthermore, in most cases, with the demise of the policyholder, the premium payment is also waived off.
   
4. Tax benefits
   Just as most other investment options, guaranteed income plans entitle you to a tax benefit of up to ₹1.5 lakhs under Section 80C of the Income Tax Act.
   
5. Rider Options
   This plan also offers you the chance to opt for some riders be it for, Accidental death or Serious illness. These riders broaden your risk cover and help you maintain a complete peace of mind as they ensure that your family is financially protected in case of any eventuality.
   
6. Flexible Term & Premiums
   The flexibility offered in this scheme is beyond comparison. When individuals look for customisable options, they either end up with flexible premiums or adjustable terms. However, here you get the best of both. You can pay for as long as you like for the income returns as well as maturity.
   
7. Achieve Important Milestones of Life
   Most of us have milestones set in our lives, which we seek to achieve over the period of our lifetime. With the flexible policy terms and regular income benefits that are available in this plan, you can accordingly arrange the funding for each milestone. Be it a child’s marriage or higher education, you can easily plan your milestones with this plan.
   
8. Loan Options
   With the guaranteed income plan, you also get the option to take a loan against the policy once it acquires a surrender value. The maximum amount, which you can be availed is 90% of the special surrender value at the end of Policy Year less any unpaid premiums for that year and loan interest accrued, if a loan is already existing on the policy, to the end of that year.
   

While the guaranteed income plans offer attractive, well-rounded benefits, it is vital to check if the plan meets your financial needs. Determine your financial goals and read the policy document carefully to avail the perfect guaranteed income plan for your needs.

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