Guaranteed Income Plan: Best Income Plan in India

What would you like to do first?

Power your dreams of tomorrow and fulfil your responsibilities towards your loved ones. Get an additional income along with a life cover to protect your loved ones in your absence with PNB MetLife Guaranteed Income Plan.

PNB MetLife Guaranteed Income Plan in a nutshell

Guaranteed Income Benefit
Guaranteed Maturity Benefit
Life cover for the entire policy term

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What you get

Life Cover

This plan lets you secure your family’s future even in your absence with a lump sum benefits long as the unfortunate incident takes place within the policy term.

Guaranteed Income Benefit

Ensure that you fulfill your responsibilities with a yearly income of 11 to 13% of your Basic Sum Assured. The benefit kicks in once premium payment term has ended and you will receive it in periodic lump-sum amounts.

Maturity Benefit

In case you survive your policy term, get 30 - 55% of Basic Sum Assured on reaching maturity of your policy term. Avail this benefit in addition to the Income Benefit.

Tax Benefit

Tax benefits under this plan are available as per the provisions and conditions of the Income Tax Act, 1961.

Enhancements with PNB MetLife Guaranteed Income Plan

Loans

Your plan can fulfil your dreams in more ways than one!

Riders

Safeguard yourself against health complications with health riders

Our income plan allows you to take a loan against it once it acquires a surrender value

Max amount availed can be 90% of special surrender value
Current interest rate is at 10.5%

For added premiums you can also secure yourself and your family against medical uncertainties & rising costs.

Get the following riders with PNB MetLife Guaranteed Income Plan:
1. Accidental Death Benefit Rider Plus
2. Serious Illness Rider

With PNB MetLife Guaranteed Income Plan, you can:

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

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.

Frequently Asked Questions

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Why Guaranteed Income Plan is a necessity?

Necessity of Guaranteed Income Plan

How much annual income can I get with PNB MetLife Guaranteed Income Plan’s 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

What are the payment options under this plan?

With this plan, you can choose to pay premiums for 5, 7, 10 or 12 years depending on your preference and convenience.

What are the Survival Benefits of PNB MetLife Guaranteed Income Plan?

In addition to the Guaranteed Income Benefit, you get 30% to 55% of Basic Sum Assured (BSA) on Maturity, based on your Policy Term. Here is the Benefit breakup:

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

What are the Death Benefits of PNB MetLife Guaranteed Income Plan?

Sum Assured on death is payable on death during the 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)

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

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

How can I purchase PNB MetLife Guaranteed Income Plan?

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

Disclaimer:

AD-F/2020-21/00307

*Tax benefits are as per Income Tax Act, 1961, & are subject to amendments made thereto from time to time. Please consult your Tax Consultant for more details. Goods and Services Tax (GST) shall be levied as per prevailing tax laws which are subject to change from time to time.