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    PNB MetLife Income Protection Plan

    Guaranteed Lump Sum on your survival, Monthly Income for family, in your absence

    Individual, Non Linked, Non Participating, Savings, Life Insurance Plan | UIN: 117N103V02

    A non-linked non-participating life insurance plan that meets your savings as well as protection needs, PNB MetLife Income Protection Plan is designed to ensure a happy life for your family in your absence with guaranteed monthly income or lumpsum to ensure stability.

    PNB MetLife Income Protection Plan in a nutshell
    • Guaranteed Payout
    • Protection for your family
    • Easy Enrolment
    • Flexibility

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    What you get

    With PNB MetLife Income Protection Plan:
    • Ensure financial security for your family in case of your unfortunate death
    • Choose to provide regular income for your family to take care of their living expenses in case of your untimely demise
    • Guaranteed Lump Sum ranging from 100% to 150% of Total premiums paid on survival till Maturity

    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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    What exactly is PNB MetLife Income Protection Plan?

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    This is a non-linked, non-participating, life insurance plan. “PNB MetLife Income Protection Plan”, a flexible life insurance plan that meets your savings as well as protection needs. This plan not only ensures peace of mind by providing financial protection to your family by way of regular monthly income or Lumpsum, but also returns ranging from 100% to 150% of the Total premiums paid on survival till maturity.

    What does PNB MetLife Income Protection Plan offer?

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    With PNB MetLife Income Protection Plan:

    1. Ensure financial security for your family in case of your unfortunate death
    2. Choose to provide regular income for your family to take care of their living expenses in case of your untimely demise
    3. Guaranteed Lump Sum ranging from 100% to150% of Total premiums paid on survival till Maturity

    What are the key Benefits of this plan?

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    • Guaranteed Payout1: Receive guaranteed payout from 100% to 150%3 of Total premiums paid2 at the end of the policy term
    • Protection for your family: Get life cover for the entire policy term
    • Easy Enrolment: Hassle free enrolment with Simplified Proposal Form
    • Flexibility:
      1. Choose how long you want to pay: for 5/7/10 years
      2. Option to choose Death Benefit as Lumpsum or Monthly Income
    • Tax Benefits4: Avail tax Benefits on premiums paid and Benefits received, as per prevailing tax laws

    1Terms & Conditions apply

    2Total premiums paid is equal to all premiums payable during the premium paying term of the policy excluding extra premiums, Goods & Service Tax paid by the policyholder but includes any frequency loading.

    3Depending on the plan option chosen at the inception of the Policy

    4Tax Benefits are as per the Income Tax Act, 1961, & are subject to amendments made thereto from time to time. Please consult your tax consultant for more details

    What are the Death Benefits of this plan?

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    In the event of the unfortunate death of the Life Assured during the policy term provided that the policy is In-force status and all due installment premiums have been received by us in full as on the date of death, Sum Assured on Death will be payable which is highest of:

    • 10 times of the Annualised Premium
    • Basic Sum Assured which is the absolute amount assured to be paid on death

    At any point in time the minimum Death Benefit shall be 105% of Total premiums paid2up to date of death.

    Death Benefit Payout options:

    On death of Life Assured, the Company will pay the death Benefit as Lump Sum or Monthly Income for 10 years based on the option chosen by the Life Assured at the time of inception of the policy.

    2 Total premiums paid is equal to all premiums payable during the premium paying term of the policy excluding extra premiums, Goods & Service Tax paid by the policyholder but includes any frequency loading.

    What are the Maturity Benefits of this plan?

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    The Sum Assured on Maturity will be paid on Maturity which will be calculated as 100% /110% / 130% /150%3 of the total premiums paid2 based on the plan option chosen. The Maturity Benefit is only applicable if the policyholder opts for Return of Premium Option.

    The policy will terminate on payment of the Maturity claim amount.

    2 Total premiums paid is equal to all premiums payable during the premium paying term of the policy excluding extra premiums, Goods & Service Tax paid by the policyholder but includes any frequency loading.

    3 Depending on the plan option chosen at the inception of the Policy

    What are the eligibility criteria for this plan?

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    Plan options

     

    Option name

    Maturity Benefit as % of Total premium paid

    100% RoP

    100%

    110% RoP

    110%

    130% RoP

    130%

    150% RoP

    150%

    Age at entry (Years)#

    Plan Option

    Minimum age (Years)

    Maximum age (Years)

    100% RoP

    18

    55

    110% RoP

    18

    55

    130% RoP

    18

    55

    150% RoP

    18

    50

    Maximum age at maturity (Years)#

    Plan option

    Premium payment term (PPT)

    Policy Term (PT)

    Max. Maturity age

    100% RoP

    5

    15

    70

    110% RoP

    7

    15

    70

    130% RoP

    7

    15

    70

    130% RoP

    7

    20

    75

    130% RoP

    10

    20

    75

    150% RoP

    10

    20

    70

    Premium Paying Term (PPT) (Years)

    Limited pay: 5, 7 & 10 years

    Policy Term (Years)

    Plan option

    Premium payment term (PPT)

    Policy Term (PT)

    100% RoP

    5

    15

    110% RoP

    7

    15

    130% RoP

    7

    15

    130% RoP

    7

    20

    130% RoP

    10

    20

    150% RoP

    10

    20

    No other policy term and premium payment term combinations are offered.

    Minimum Installment Premium (Rs.)

    Plan option

    PPT-PT

    Minimum Yearly premium (Rs.)

    Minimum Half yearly premium^ (Rs.)

    Minimum Monthly premium per month^ (Rs.)

    100% RoP

    5-15

    8,000

    4,105

    750

    110% RoP

    7-15

    7,000

    3,592

    650

    130% RoP

    7-15

    8,000

    4,105

    750

    130% RoP

    7-20

    7,000

    3,592

    650

    130% RoP

    10-20

    5,500

    2,822

    500

    150% RoP

    10-20

    7,000

    3,592

    650

    ^Inclusive of Modal loading

    Maximum Premium (Rs.)

    Based on maximum Basic Sum Assured of Rs. 10,00,000

    Minimum Basic Sum Assured(Rs.)

    Based on minimum premium as mentioned above

    Maximum Basic Sum Assured (Rs.)

    10,00,000

    Premium Payment modes

    Yearly / Half-yearly / Monthly

    #All reference to age are as on age last birthday

    How can I buy PNB MetLife Income Protection Plan?

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    Your can buy this plan offline using any of the below methods:

    Disclaimer:

    AD-F/2020-21/00321

    Please fill out personal information

    The brochure has been sent to your email ID.

    Disclaimer

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    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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