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    PNB MetLife Immediate Annuity Plan

    Guaranteed annual pension of Rs. 60,389* for lifetime with a one time investment of Rs. 10 Lacs

    Individual, Non Linked, Non Participating Immediate Annuity Product| UIN:117N095V06

    To lead a comfortable life post-retirement, you require financial security through regular income and therefore you need to invest in a good retirement plan. With PNB MetLife Immediate Annuity Plan, customize your retirement plan the way you want & get a guaranteed income for the rest of your life. Calculate Annuity.

    PNB MetLife Immediate Annuity Plan in a nutshell
    • Financial security through regular income
    • Cover for spouse
    • Create legacy creation with return of premium

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    What you get

    PNB MetLife Immediate Annuity Plan, allows you to:
    • Pay only once to ensure guaranteed income for your lifetime
    • Secure lifetime income for your spouse, even if you are not around
    • Leave a legacy for your family through return on invested capital, on your demise  
    • Receive increasing income to take care of rising expense
    • Protect your family through NPS-Family Pension Option (Exclusively for Pension System Subscribers)

    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 are the Death Benefits offered by PNB MetLife Immediate Annuity Plan?

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    • Pay only once: Utilise either the vesting proceeds of your deferred pension policy or your own accumulated funds 
    • Create your own annuity plan:
    • Choose amongst a wide range of annuity options
    • Select the frequency of your payout- monthly, quarterly, half-yearly or yearly
    • Protect your family:
    • Cover your spouse through our Joint Life annuity options
    • Leave a legacy for your family through our Return of Purchase Price/ Balance annuity options

    What are the Annuity Benefits offered by PNB MetLife Immediate Annuity Plan?

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      Single Life annuity options

    • Life Annuity 
    • Life Annuity with return of Purchase Price
    • Life Annuity with Return of Balance
    • Life Annuity with certain period of 5 years
    • Life Annuity with certain period of 10 years
    • Life Annuity with certain period of 15 years
    • Life Annuity with certain period of 20 years
    • Increasing Life Annuity (Increasing @ 3%)
    • Increasing Life Annuity (Increasing @ 3%) with return of Purchase Price 

    • Joint Annuity (Two Lives) annuity options: Under the options described below, both primary life and spouse are annuitants

    • Joint Life Last Survivor Annuity
    • Joint Life Last Survivor Annuity with return of Purchase Price
    • Joint Life Last Survivor Annuity reducing to 50% for Spouse
    • Joint Life Last Survivor Annuity reducing to 50% for Spouse with return of Purchase Price

    • NPS-Family Income (Exclusively for National Pension System Subscribers)

    • Life Annuity with Return of Purchase Price
    • Joint Life Last Survivor Annuity with Return of Purchase Price.

    What are the eligibility criteria for PNB MetLife Immediate Annuity Plan?

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    Boundary Conditions Standalone Annuity Tied Annuity
    Min Age at entry
    • Single Life options: 30 years
    • Joint Life options (both primary and secondary lives): 40 years

    Maximum age difference between primary life and spouse is 20 years

    QROPS Policies : 55 Years

    • Single Life options - 0 years
    • Joint Life options (both primary and secondary lives) – 18 years

    In case the age difference of Primary Life & Spouse is more than 20 years, the annuity rate with the difference of 20 years would be applicable

    Max Age at entry 75 years

    90 years In case the age of the nominee or beneficiary of your deferred pension policy is above 90 years, the annuity rates applicable will be the same as that at age 90

    Min Premium (Purchase Price)
    • Increasing Life Annuity and Increasing Life Annuity with return of Purchase Price - Rs. 500,000
    • Other options - Rs. 300,000
    Not applicable
    Minimum Annuity Payout Rs. 1,000 per month# Rs. 1,000 per month#
    Maximum Annuity Payout

    Subject to entry age of Annuitant & Purchase Price

    Subject to entry age of Annuitant & Purchase Price

    Annuity Payout Mode Yearly/Half Yearly/Quarterly/Monthly Yearly/Half Yearly/Quarterly/Monthly

     

    *Age: Last Birthday*
    QROPS stand for Qualifying Recognized Overseas Pension Scheme
    #For Tied Annuity, if the proceeds accumulated from the deferred pension plan are not sufficient to buy a monthly annuity of Rs. 1,000 then the Company will pay the accumulated amount to the nominee or beneficiary. However, nominee will have the choice to receive a monthly annuity of less than Rs. 1,000 if he/she opts for the same.

    How can I purchase PNB MetLife Immediate Annuity Plan?

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    This plan can be purchased offline using any of the below methods:

    Disclaimer:

    *The Annuity rates are subject to changes.
    *Annuity amount is calculated at 55 years of age, for a Male Life on 10 Lacs Purchase Price for Life Annuity Return of Purchase Price option, Annuity amount would vary as per age.
    AD-F/2020-21/00308

    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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