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Investment Plans 1829 views June 30, 2021
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.
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!
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.
Table of Contents
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.
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 Options||Details|
|Endowment||Lump 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|
|Income||Guaranteed income payouts during the income payout period|
|Income + Lump Sum||Guaranteed income payouts during the income payout period + Accumulated wealth additions at the end of the policy term|
|Income + Booster||Guaranteed income payouts + Booster additions at specific intervals|
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.
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).
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.
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.
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.
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 Frequency||Income Payout Factor|
|Annual||100% of the annual income|
|Half-yearly||97% of the annual income x 1/2|
|Monthly||95% of the annual income x 1/2|
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.
To enhance your overall protection, you can choose the following rider options by paying an additional premium.
Have a look at the important conditions related to the PNB MetLife Guaranteed Future Plan mentioned below.
|Policy Term (in years)||Minimum Entry Age (in years)|
|18 and above||0 (30 days)|
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