Investment Plans 382 views June 30, 2021

PNB MetLife Guaranteed Future Plan

PNB MetLife Guaranteed Future Plan offers dual benefits of systematic savings and guaranteed returns that help individuals achieve their financial goals. You can safeguard yourself and your family against unforeseen life events with this plan. The best thing about the Guaranteed Future Plan is the choice of maturity benefits according to your convenience.

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We are showing the key features of the PNB MetLife Guaranteed Future Plan below that will help you get an overview of the same. Please check!

  1. Guaranteed benefits to secure your future
  2. Flexible maturity payout options
  3. Option to get guaranteed additions and wealth additions
  4. Additional income payouts at fixed intervals with income plus booster option
  5. Customizable income payouts according to your needs
  6. The reward for higher premium payment
  7. Life cover for an entire policy term
  8. Multiple premium payment options
  9. Availability of rider options
  10. Loan against policy up to 90% of the special surrender value
  11. A 15 or 30-day grace period
  12. Tax benefits under Income Tax Act, 1961

Now you would want to know these features in detail. On this page, we will talk about the same along with the eligibility criteria of the PNB MetLife Guaranteed Future Plan. Read on to know more.

Let’s Understand the Features and Benefits of PNB MetLife Guaranteed Future Plan in Detail

PNB MetLife Guaranteed Future Plan is an Individual, Non-linked, Non-Participating, Savings, Life insurance plan that helps you achieve your future goals. We are showing its features below that you can check.

Multiple Benefit Payout Options

At the start of the policy, you can choose to receive benefits from multiple payout options according to your convenience – Endowment, Income, Income + Lump Sum and Income + Booster. To know more about these options, check the below table.

Benefit Payout OptionsDetails
EndowmentLump sum amount at the end of the policy term in the form of Total Paid Premium along with accrued Guaranteed Additions and accumulated Wealth additions
IncomeGuaranteed income payouts during the income payout period
Income + Lump SumGuaranteed income payouts during the income payout period + Accumulated wealth additions at the end of the policy term
Income + BoosterGuaranteed income payouts + Booster additions at specific intervals

What are the Policy and Premium Payment Term Options?

PNB MetLife Guaranteed Future Plan offers multiple policy and premium payment term options. Premium payment terms can range from 5 to 15 years for all the benefit payout options. For the Endowment option, the policy term can range from 12 to 30 years, while it remains between 12 and 32 years for all other options.

What is the Minimum Annualized Premium?

For PNB MetLife Guaranteed Future Plan, the minimum annualized premium amount depends on the premium payment option chosen by you.

For single pay, limited pay and limited pay (sourced through POSP), the minimum amount stands at INR 2,00,000, 24,000 and 12,000, respectively. The maximum premium can go up to INR 1,00,00,00,000 (subject to the maximum basic sum assured).

Deferment Period Options

You can choose from multiple deferment period options at the inception of the policy. You can choose from the following options.

For premium payment term less than five years:  0, 1 or 2 years

For premium payment term of 5 years:  2 years

For Single pay: 5 years

Note – The deferment period starts from the end of the premium payment term.

Maturity Benefits

If you choose an endowment option and survive until the end of the policy term, the policy will provide a guaranteed maturity benefit. This amount will be equal to the sum of total premiums paid and accumulated guaranteed additions and wealth additions.

The guaranteed additions will be calculated as a percentage of the annualized premium and depend on the policy term and premium payment term. It will range from 5-50% of the annualized premium.

Death Benefit

If a policyholder dies during the policy term, the nominee will get death benefit and the policy will terminate. The death benefit will be the highest of the following amounts.

  1. Basic sum assured, which is the absolute amount assured to be paid on death
  2. Annualized Premium or Single premium multiplied by the Death Benefit Multiple
  3. 105% of total premiums paid up to the date of death

Income Payout Factors

PNB MetLife Guaranteed Future Plan allows you to get the annual payout at any of these frequencies – Annual, Half-yearly and Monthly – of your choice. To know more, check the below table.

Income Payout FrequencyIncome Payout Factor
Annual100% of the annual income
Half-yearly97% of the annual income x 1/2
Monthly95% of the annual income x 1/2

Loan Against Policy

Once your policy acquires surrender value, you can also get a loan against the same. The loan amount can be up to 90% of the surrender value of your policy at the end of the relevant policy year minus any unpaid premiums for that year and the accumulated loan interest.

Multiple Rider Options

To enhance your overall protection, you can choose the following rider options by paying an additional premium.

  1. PNB MetLife Accidental Death Benefit Rider Plus
  2. PNB MetLife Serious Illness Rider

PNB MetLife Guaranteed Future Plan Eligibility Criteria

Have a look at the important conditions related to the PNB MetLife Guaranteed Future Plan mentioned below.

  1. The minimum age at entry depends on the policy term. To know more check the below table.
    Policy Term (in years)Minimum Entry Age (in years)
    126
    144
    153
    162
    171
    18 and above0 (30 days)
  2.  The maximum age at entry stands at 60 years. For policies purchased through POS channels, the maximum age at entry can be 55 years.
  3. The maximum age allowed till maturity will be 80 and 75 years for Single and Limited Pay, respectively.

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