Learn More About PNB MetLife Grand Assured Income Plan

1. Flexible Premium Payment Options
   The plan offers single pay or limited pay (5, 7, and 10 years) to fit your budget and financial goals
2. Deferment^{^} Period
   You decide on a deferment^{^} period, after which your annuity payouts will begin. This gives you the flexibility of deciding when you want to start being paid your income.
3. Multiple Options for Annuity Choices
   This plan offers five need-based options of annuities for you to choose from:
   • Life Annuity: Pays as long as the person is alive
   • Life Annuity with Return of Purchase Price: Annuity payout to the nominee of the plan.
   • Joint Life Annuity with Return of Purchase Price: Suitable for a couple, ensuring incomes for both the return of the purchase price and life continuation.
   • Life Annuity with Return of Purchase Price on Death or Survival: This offers flexibility with complete financial protection.
   • Joint Life Annuity with 50% to Surviving Annuitant: This pays 50% of the annuity income to the surviving spouse.
4. Guaranteed Income¹ for Life
   This guaranteed income¹ plan guarantees a stable, predictable stream of income for your lifetime, but only if you pay all your premiums.
5. Higher Annuity Rates for Higher Purchase Price
   The plan rewards you with better annuity rates for a higher purchase price, maximising your returns.
6. Customisable Payout Dates
   You can choose your payout dates so your annuity payments match your financial needs.

Suicide Exclusion in the PNB MetLife Grand Assured Income Plan

The PNB MetLife Grand Assured Income Plan comes with many benefits, but it is important that you understand where and when some exclusions apply. Below is a clear explanation of the suicide exclusion clause under this plan so you can make an informed decision.

For Single Annuitant Policies:

If the annuitant (the insured person under the policy) commits suicide within 12 months from the policy commencement date or from the revival date (if the policy had lapsed and was restored), the nominee shall be entitled to receive the following:

• At least 80% of the total premiums paid by the policyholder till the date of death
  OR
• The surrender value as of the date of death, whichever is higher.

It is important to note here that this amount will be payable only if the policy is in force at the time of death. Further, no interest would be paid on this returned amount to the nominee.

For Joint Life Policies:

In the case of a joint life policy:
If any of the annuitants die by suicide within 12 months from the commencement or revival date of the policy, the nominee shall be paid:

• At least 80% of the total premiums paid until the date of death
  OR
• The surrender value as of the date of death, whichever is higher.

This benefit will be paid only if the policy is active at the time of death. Similar to single annuitant policies, no interest will be added to the payout.

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