PNB MetLife Monthly Income Plan - 15 Pay

Key Benefits of MetLife Monthly Income Plan-15 Pay

  • 1

    Death Benefits

  • 2

    Maturity Benefits

  • 3

    Survival Benefits

  • 4

    Terminal Bonus

Overview

PNB MetLife offers 'MetLife Monthly Income Plan-7 Pay' where you are required to pay premium only for 7 years and get back the Guaranteed Monthly Income that you choose at inception for 8 years. At the end of the term you will also get the accrued bonuses as a lumpsum#.
A Monthly Income Plan that guarantees income to add to your income every month. Because these days growing needs demand more than one income.

MetLife Monthly Income Plan-7 Pay ensures

  1. Get chosen Guaranteed Regular Monthly Income for 8 years i.e., 96 months.
  2. You will get accrued bonuses as a lumpsum at maturity of the plan, if any.
  3. In addition to the death benefit your family will continue to get guaranteed monthly income as scheduled.
  4. Tax benefits* on both the amount invested and the benefits received under Section 80C and Section 10 (10) D.

Product Benefits

Death Benefit

In case of unfortunate death during the term of the Policy, your family will immediately get a guaranteed sum equal to 24 times the chosen monthly income. In addition to this, all accrued bonuses (non-guaranteed) till date will also be paid to the nominee.
In addition to the above lump sum, your family will continue getting the guaranteed monthly income as scheduled. If the monthly regular income has not commenced, the same will start from the first monthly anniversary following the date of the death and shall be paid for the next 96 months to your nominee.

Survival Benefits

You get a monthly regular income that you have chosen at the inception of the policy for 8 years (Maximum of 96 months) after the end of the Premium Payment Term. The monthly regular income commences from the monthly anniversary date that immediately succeeds the completion of the Premium Payment Term.

Maturity Benefit

On attaining the maturity age you will receive the accrued Simple Reversionary Bonuses along with the Terminal Bonus, if any.
The policy will participate in the profit by way of Simple Reversionary Bonuses on completion of three years. The declared bonus will be credited on each policy anniversary occurring immediately after the date of declaration of bonus provided all the due premiums have been paid.
The Simple Reversionary Bonus will not accrue once the death claim is settled and for the lapsed policies. The Company may also declare a Terminal Bonus as a percentage of the accrued Simple Reversionary Bonus.

Particulars

Boundary Conditions

Premium Payment Term

5/10 years

Min. Age at entry*

18 years

Max. Age at entry*

60 Years

Max. age at maturity*

85 years

Policy Term

20/25 Years

Min. Monthly Income

Rs. 1,000 p.m

Sum Assured

180 times the Monthly Income

Benefit Period

10/15/20 Years

Age

Maximum Monthly Income

18-35 Years

Rs. 30,000

36-45 Years

Rs. 20,000

46-55

Rs. 10,000

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