Key Benefits of PNB MetLife Guaranteed Income Plan
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1
Guaranteed Income Benefit
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2
Guaranteed Maturity Benefit
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3
Life cover for the entire policy term
Overview of 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.
With 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 vacations
Product Benefits of Guaranteed Income Plan
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
Pay as you like
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
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
- Basic Sum Assured (BSA)
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 |
Minimum Age at entry* |
Premium Payment Type |
Policy Term |
Age (Years) |
Minimum Age at entry* |
5 Pay |
10 |
8 |
Minimum Age at entry* |
5 Pay |
15 |
3 |
Minimum Age at entry* |
7 Pay |
15 |
3 |
Minimum Age at entry* |
10 Pay |
20 |
3 |
Minimum Age at entry* |
12 Pay |
20 |
3 |
Maximum age at maturity* |
5 Pay |
10 |
70 |
Maximum age at maturity* |
5 Pay |
15 |
75 |
Maximum age at maturity* |
7 Pay |
15 |
75 |
Maximum age at maturity* |
10 Pay |
20 |
80 |
Maximum age at maturity* |
12 Pay |
20 |
80 |
Minimum Annual Premium |
Premium Payment Type |
Policy Term |
Annual Premium (in Rs.) |
Minimum Annual Premium |
5 Pay |
10 |
52,900 |
Minimum Annual Premium |
5 Pay |
15 |
76,656 |
Minimum Annual Premium |
7 Pay |
15 |
23,864 |
Minimum Annual Premium |
10 Pay |
20 |
16,666 |
Minimum Annual Premium |
12 Pay |
20 |
12,357 |
Minimum Sum Assured |
Premium Payment Type |
Sum Assured (in Rs.) |
Minimum Sum Assured |
5 Pay |
4,00,000 |
Minimum Sum Assured |
7 Pay |
2,00,000 |
Minimum Sum Assured |
10 Pay |
1,50,000 |
Minimum Sum Assured |
12 Pay |
1,50,000 |
Multiple of Premium |
Age at entry |
Applicable multiple |
Multiple of Premium |
45 years and above |
10x or 7x |
Multiple of Premium |
Less than 45 years |
10x |
*Age last birthday