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    Buy Guaranteed Savings Plan | PNB MetLife

    Benefits of Buying Guaranteed Savings Plan

    Last Updated On 31-08-2021

    Did you know that one of the best ways to grow your income yet stay safe from market-related fluctuations and risks is with the help of a guaranteed future plan or a guaranteed savings plan. A guaranteed savings plan is a must-have in your financial portfolio if you want the dual advantage of life insurance protection and secure wealth creation. As a long-term savings plan, it helps you fulfil your life’s goals. However, there are other benefits of a guaranteed savings plan that are worth discussing.

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    What are the benefits of a Guaranteed Savings Plan?

    1. It gives life insurance protection to your loved ones.

    One of the best features of a guaranteed savings plan is the life insurance cover it provides. In the case of your unfortunate demise during the term of the plan, your family receives a guaranteed monetary benefit (called a death benefit). This lump-sum benefit aids in extending that much-needed financial security to your loved ones in your absence. You can get a guaranteed savings plan online and offline at your convenience.

    2. It helps create a sizable corpus for your goals.

    A guaranteed future plan helps you fulfil the goals you have for yourself or your family. It does this through systematic savings and wealth creation. Apart from working as a medium to park your income, it gives you:

    • A guaranteed sum assured (from 70% to 130% of the base sum assured under the plan)
    • And guaranteed additions (increased returns) at a rate of 5%, 7% or 10% that corresponds to the premium payment term

    So, each year (provided you pay the premiums at the due time), your funds increase at the designated interest rate for the entire duration of the premium paying term. You receive this accumulated wealth (called a maturity benefit) at the end of the policy term to use as per your discretion for milestones such as a child’s higher education or marriage, your or your spouse’s retirement, a family vacation, and so on.

    3. It safeguards your family against unforeseen events.

    Not only does a guaranteed savings plan give you a death benefit to your family in case of your demise, but it also comes with additional riders for extra protection against unforeseen events. For instance, if the reason for your death is an accident, then you can get an additional sum over and above the base death benefit on the payment of more premiums. Or, if you are diagnosed with a critical illness (as per the illnesses listed in the guaranteed savings plan), you can get an additional sum over and above the base sum assured promised to you.

    4. It is free from market-related risks and full of extra benefits.

    Irrespective of whether you buy a guaranteed income plan online or offline, it is free from any market-linked risks. Being a non-linked investment product, it is suitable for those investors who prefer to take on no loss against their income and get mid-level returns. Moreover, this long-term savings plan has a surrender option where you are free to discontinue the plan (after two years of paying the premiums). Thereon, you get a monetary value known as the surrender value upon ending the plan. Furthermore, you can also take a loan against the guaranteed future plan once it acquires a surrender value (that is 2 years after the payment of premiums). The maximum amount of loan you can get is 90% of the surrender value. This way, you can fulfil both short-term and long-term goals and also have enough for an emergency.

    To sum it up

    A guaranteed savings plan is the perfect investment tool if your risk appetite is low yet your financial aims are near high. Compared to traditional investment avenues such as fixed deposits or the national savings scheme, a guaranteed savings plan is a double benefit.

    Giving you the twin benefit of life insurance protection and wealth creation – this plan is the right aid to fulfilling your dreams and responsibilities towards yourself and your family.

    Disclaimer:

    The aforesaid article presents the view of an independent writer who is an expert on financial and insurance matters. PNB MetLife India Insurance Co. Ltd. doesn’t influence or support views of the writer of the article in any way. The article is informative in nature and PNB MetLife and/ or the writer of the article shall not be responsible for any direct/ indirect loss or liability or medical complications incurred by the reader for taking any decisions based on the contents and information given in article. Please consult your financial advisor/ insurance advisor/ health advisor before making any decision. Tax benefits are as per the Income Tax Act, 1961, & are subject to amendments made thereto from time to time. Please consult your tax consultant for more details

    PNB MetLife India Insurance Company Limited
    Registered office address: Unit No. 701, 702 & 703, 7th Floor, West Wing, Raheja Towers, 26/27 M G Road, Bangalore -560001, Karnataka
    IRDAI Registration number 117 | CIN U66010KA2001PLC028883
    For more details on risk factors, please read the sales brochure and the terms and conditions of the policy, carefully before concluding the sale.
    Goods and Services Tax (GST) shall be levied as per prevailing tax laws which are subject to change from time to time.
    The marks "PNB" and "MetLife" are registered trademarks of Punjab National Bank and Metropolitan Life Insurance Company, respectively. PNB MetLife India Insurance Company Limited is a licensed user of these marks.
    Call us Toll-free at 1-800-425-6969, Phone: 080-66006969, Website: www.pnbmetlife.com, Email: indiaservice@pnbmetlife.co.in or Write to us: 1st Floor, Techniplex -1, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West), Mumbai – 400062, Maharashtra. Phone: +91-22-41790000, Fax: +91-22-41790203.

    AD-F/2021-22/273

    Beware of Spurious Phone Calls and Fictitious / Fraudulent Offers!
    IRDAI is not involved in activities like selling insurance policies, announcing bonus or investments of premium. Public receiving such phone calls are requested to lodge a police complaint.

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    Disclaimer

    Collapsed Expanded

    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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