Best Guaranteed Future Plan | Future Savings plan in India | PNB MetLife

Key Benefits of PNB MetLife Guaranteed Future Plan

  • 1

    Guaranteed1 Benefits

  • 2

    Flexibility to choose benefits

  • 3

    Guaranteed Additions2 & Boosters3 to boost your corpus

  • 4

    Higher Premium Rewards

Overview of Guaranteed Future Plan

PNB MetLife Guaranteed Future Plan is an individual, Non-Linked, Non-participating, Savings Life Insurance Plan that enables you to save systematically and offers guaranteed returns. It also safeguards you against certain unforeseen life events.  The plan ensures that you are able to meet your life’s financial goals with higher degree of certainty.   The plan offers you complete control and flexibility to customize your savings schedule based on your needs and affordability.  You can also choose the manner in which you receive maturity amounts (i.e. Income, Lump-sum or combination thereof) and can also customize the timing to best meet your requirements.

With PNB MetLife Guaranteed Future Plan

  1. Choice from 4 Plan Options -
    Option 1: Endowment Option.
    Option 2: Income Option
    Option 3: Income + Lumpsum Option
    Option 4: Income + Boosters
  2. Guaranteed Income factor ranging from  103% to 245% of Annualised premium4 
  3. Booster additions ranging from  30% to 406% of Annualised premium in addition to your regular income payout5 with Income + Boosters option. 
  4. Pay as you like: Choose from various premium payment options from 5, 7 to 15 years or Single pay. 
  5. Additional benefits to boost your corpus -
    a.    Guaranteed additions2 which accrue with every premium payment
    b.    Wealth additions6 which accrue after completion of premium payment term
    c.    High Premium Reward for higher premium payment 
  6. Flexibility to receive your income payout on the date of your choice7 
  7. Option to Choose deferment period: You can defer survival benefit payout by choosing any one Deferment Period (0, 1 or 2 in complete years) at inception of the policy.
  8. Protection: Safeguard against uncertainties
    a.    Get life cover for the entire policy term.
    b.    Option to enhance your protection through Accidental Death and Serious Illness rider coverage
  9. Tax benefits: You may be eligible to avail tax benefit on premiums paid and benefits received, as per prevailing tax laws

Product Benefits of Guaranteed Future Plan

Benefits

Option 1
Endowment

Option 2
Income

Option 3
Income + Lumpsum

Option 4
Income + Boosters

Survival - On survival of the Life Assured, provided all due premiums are paid and the policy is fully in-force.

Not applicable

  • Annualised Premium plus
  • Accrued Guaranteed Additions
  • Annualised Premium plus
  • Accrued Guaranteed Additions
  • Annualised Premium plus
  • Accrued Guaranteed Additions
  • Booster Additions with specified income payouts

Maturity - On survival of Life Assured to maturity date provided all due premiums are paid

  • Total Premiums payable plus
  • Accrued Guaranteed Additions plus
  • Accrued Wealth Additions

Not applicable

  • Accrued Wealth Additions

Not applicable

Death - On deathof the Life Assured during the policy term

Sum Assured on Death shall be defined as Higher of:

  • Basic sum assured (BSA), which is the absolute amount assured to be paid on death.
  • Annualized/Single Premium multiplied by the Death Benefit Multiple
  • 105% of Total Premiums Paid up to date of death

Where: Basic Sum Assured (BSA) is defined as:
For Single Pay: 1.25 times Single Premium
For Limited Pay: 10 times Annualized Premium

The death benefit payable on death shall not be less than –
Total Premiums Paid plus accrued Guaranteed Additions and accrued Wealth Additions (if any) till the date of death.

The death benefit payable on death shall not be less than –
Total Premiums Paid plus accrued Guaranteed Additions less Guaranteed Income Payouts made during the Income Payout Period (if any) till date of death

The death benefit payable on death shall not be less than –
Total Premiums Paid plus accrued Guaranteed Additions and accrued Wealth Additions (if any) less Guaranteed Income Payouts made during the Income Payout Period (if any) till date of death.

The death benefit payable on death shall not be less than –
Total Premiums Paid plus accrued Guaranteed Additions and accrued Booster Additions less Guaranteed Income Payouts made during the Income Payout Period (if any) till date of death

Please Note:

PNB MetLife Guaranteed Future Plan is an Individual, Non-Linked, Non-participating, Savings Life Insurance Plan (UIN: 117N124V01)
1   Terms and conditions apply
2 Guaranteed Additions (GA) will accrue throughout Premium Payment Term as a percentage of Annualised Premium and will vary based on Premium payment term, entry age and benefit option chosen
3 Boosters will be available with ‘Income + Boosters’ Option only and will not be available with other options.
4  Guaranteed Income Payout percentage will vary based on Premium payment term, age, policy term and benefit option chosen. Guaranteed Income is not payable in Option 1.
5 Booster additions will be available with ‘Income+ Booster Option’ percentage will vary based on Premium payment term, age, policy term.
6 Wealth Additions (WA) will be available with ‘Endowment’ & ‘Income + Lumpsum’ options. WAs accrue after completion of Premium Payment Term as a percentage of Total Premiums Payable and will vary based on Premium payment term and entry age.
7 Policyholder cannot choose the date preceding the due date of the income payout.
AD-F/2020-21/00136

Premium Paying Term (PPT) (Years)

Following PT and PPT combinations are available:
For Option 1: Endowment Option:


PPT

5

7

8

9

10

12

12

13

14

15

PT

12

15

16

18

20

20

24

26

28

30

For Options 2,3 & 4:


PPT

SP$

5*

7

8

9

10

11

12

13

14

15

PT

15,20 & 30

12

14, 15 & 16

16, 17 & 18

18, 19 & 20

20, 21 & 22

22, 23 & 24

24, 25 & 26

26, 27 & 28

28, 29 & 30

30, 31 & 32

*Not available under Option 4: Income + Booster  $SP will not be available for Option 3 & POS channel

Maximum Policy Term allowed for policies sold through POS channel is 20 years

Policy term (Years)

Minimum age8at entry (Years)

Policy Term (Years)

Minimum Entry Age

12

6 years last birthday

14

4 years last birthday

15

3 years last birthday

16

2 years last birthday

17

1 year last birthday

18 and above

0 (30 days)

Maximum age8at entry (Years)

60 years
For policies purchased through POS channel, the maximum age at entry will be 55 years as per prevailing POS guidelines, as amended from time to time

Maximum age8   at Maturity (Years)

Single pay: 80
Limited pay: 75 Years
For policies purchased through POS channel, the maximum age at maturity will be 65 years; as per prevailing POS guidelines, as amended from time to time.

Minimum Annualized Premium (Rs.)

Single Pay: Rs. 2,00,000
Limited Pay (Other than POSP): Rs. 24,000
Limited Pay (Sourced through POSP): Rs. 12,000

Maximum Annualized Premium (Rs.)

1,00,00,00,000 subject to maximum Basic Sum Assured limit as per Board Approved Underwriting Policy.

Minimum Basic Sum Assured

For Limited pay: 10 x Annualised premium
For Single pay: 1.25 x Single premium

Maximum Basic Sum Assured

As per Board approved underwriting policy
For policies purchased through POS channel, the maximum Sum Assured will be
Rs. 10 lakh as per prevailing POS guidelines, as amended from time to time

Rider options

PNB MetLife Accidental Death Benefit Rider Plus,
PNB MetLife Serious Illness Rider
Riders will not be available for policies purchased through POS channel.

Premium Payment modes

Single/Yearly / Half Yearly / Monthly
Single pay option will not be available with Option 1 and Option 3.

8 All reference to age are as on age last birthday. For policies issued to minor lives the risk cover starts immediately at inception. Also, in case the life assured is a minor, the policy will vest with the life assured when the life assured attains an age of 18 years.

Download Brochure Endowment T&C Income T&C Income + Lumpsum T&C Income + Boosters T&C Know how the plan works

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