Key Benefits of PNB MetLife Endowment Savings Plan Plus
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1
Protect your family’s future
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2
Additional bonuses from 1st policy year
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3
Waiver of premium against 35 critical illnesses
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4
Life Cover for entire policy term
Endowment Policy
PNB MetLife Endowment Savings Plan Plus, is an endowment life insurance plan that helps you accumulate your savings for your financial needs at every stage of life. Additionally, this monthly savings plan provides life cover to protect your family along with an option to protect your goals against critical illnesses.
With PNB MetLife Endowment Savings Plan Plus
- Create a corpus to fulfill your goals
- Pre pay your home loan
- Save for your child’s higher education
- Save for your retirement needs
- Opt to protect your family’s future with waiver of premium against 35 critical illnesses
Product Benefits of Endowment Savings Plan Plus
Maturity Benefit
On survival of the Life Assured till the Maturity Date, the Maturity Benefit payable will be the sum of:
- Sum Assured on Maturity
- Accrued Simple Reversionary Bonuses
- Terminal Bonus, if any
Waiver of premium on Critical Illnesses Benefit (WoP on CI)
Where plan option is “Savings Plus”, if the Life Assured is diagnosed to be suffering from any of the 35 Critical Illnesses, all future premiums that would otherwise have been payable under the base policy shall be waived for the remainder of the premium payment term
Simple Reversionary Bonus & Terminal Bonus
Bonus gets added to your policy from first year of the policy which is payable either at maturity or death or surrender whichever is earlier
Plan Options
- Savings option
- Savings Plus option
Death Benefit
In the event of the unfortunate death of the Life Assured during the policy term provided that the policy is still In-force status on the date of death, the nominee shall receive Sum Assured on Death (as described below) plus the accrued Simple Reversionary Bonuses plus Terminal Bonus, if any, subject to a minimum of 105% of total premiums paid up to the date of death and the Policy shall terminate.
Where Sum Assured on Death is the highest of:
- 10 times of the Annualised Premium
- Basic Sum Assured (BSA) which is the absolute amount assured to be paid on death
Plan option |
Minimum age at entry |
Savings |
8 |
Savings Plus |
18 |
Savings option- Maximum Age at Entry |
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Premium Payment Type |
Annual |
Other modes |
Regular Pay |
55 |
50 |
Limiter Pay (10 pay / 7 pay / 5 pay) |
60 |
55 |
Savings Plus option- Maximum Age at Entry |
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Premium Payment Type |
Annual |
Other modes |
Regular Pay |
50 |
45 |
Limiter Pay (10 pay / 7 pay / 5 pay) |
55 |
50 |
Plan option |
Age at maturity |
Savings |
80 |
Savings Plus |
Regular Pay: 65 - Limited Pay: 80 |
Premium Paying Term (PPT) (Years) |
Regular pay: Same as policy term |
Savings option - Policy Term (Years) |
|
Premium Payment Type |
Policy Term |
5 Pay / 7 pay |
10-25 |
10 Pay |
15-25 |
Regular pay |
10-25 |
Savings Plus option - Policy Term (Years) |
|
Premium Payment Type |
Policy Term |
5 Pay / 7 pay |
10-25 |
10 Pay |
15-25 |
Regular pay |
10-15 |
Premium Payment Type |
Minimum Annual Premium (Rs.) |
5 Pay |
48,000 |
7 Pay |
34,000 |
10 Pay |
24,000 |
Regular pay |
18,000 |
Maximum Premium (Rs.) |
As per Board approved underwriting policy |
Minimum Sum Assured (Rs.) |
2,20,000 |
Maximum Sum Assured |
As per Board approved underwriting policy |
Premium Payment modes |
Yearly / Half Yearly / Monthly |