Guaranteed Lump Sum on your survival, Monthly Income for family, in your absence
Individual, Non Linked, Non Participating, Savings, Life Insurance Plan | UIN: 117N103V02
A non-linked non-participating life insurance plan that meets your savings as well as protection needs, PNB MetLife Income Protection Plan is designed to ensure a happy life for your family in your absence with guaranteed monthly income or lumpsum to ensure stability.
Family Protection
Get life cover for the entire policy term and ensure protection for your entire family.
Guaranteed Payouts
Receive guaranteed payout from 100% to 150% of Total premiums paid at the end of the policy term with this plan.
Tax Benefits
As per the prevailing tax laws, PNB MetLife Income Protection Plan gives you the advantage of availing tax Benefits on both premiums paid and Benefits received.
Flexible Plan
With this plan you can choose how long you want to pay premiums from 5/7/10 years & get the option to choose Death Benefit as Lumpsum or Monthly Income
What you don’t get
Suicide Exclusion
If the Life Assured’s death is due to suicide within 12 months from the date of commencement of risk or from the Date of Revival of the Policy, the Nominee or beneficiary of the Policyholder shall be entitled to at least 80% of the total Premium paid till the date of death or Surrender Value available as on the date of death, whichever is higher, provided the Policy is in In force status.
This is a non-linked, non-participating, life insurance plan. “PNB MetLife Income Protection Plan”, a flexible life insurance plan that meets your savings as well as protection needs. This plan not only ensures peace of mind by providing financial protection to your family by way of regular monthly income or Lumpsum, but also returns ranging from 100% to 150% of the Total premiums paid on survival till maturity.
With PNB MetLife Income Protection Plan:
1Terms & Conditions apply
2Total premiums paid is equal to all premiums payable during the premium paying term of the policy excluding extra premiums, Goods & Service Tax paid by the policyholder but includes any frequency loading.
3Depending on the plan option chosen at the inception of the Policy
4Tax 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
In the event of the unfortunate death of the Life Assured during the policy term provided that the policy is In-force status and all due installment premiums have been received by us in full as on the date of death, Sum Assured on Death will be payable which is highest of:
At any point in time the minimum Death Benefit shall be 105% of Total premiums paid2up to date of death.
Death Benefit Payout options:
On death of Life Assured, the Company will pay the death Benefit as Lump Sum or Monthly Income for 10 years based on the option chosen by the Life Assured at the time of inception of the policy.
2 Total premiums paid is equal to all premiums payable during the premium paying term of the policy excluding extra premiums, Goods & Service Tax paid by the policyholder but includes any frequency loading.
The Sum Assured on Maturity will be paid on Maturity which will be calculated as 100% /110% / 130% /150%3 of the total premiums paid2 based on the plan option chosen. The Maturity Benefit is only applicable if the policyholder opts for Return of Premium Option.
The policy will terminate on payment of the Maturity claim amount.
2 Total premiums paid is equal to all premiums payable during the premium paying term of the policy excluding extra premiums, Goods & Service Tax paid by the policyholder but includes any frequency loading.
3 Depending on the plan option chosen at the inception of the Policy
Plan options |
|
Option name |
Maturity Benefit as % of Total premium paid |
100% RoP |
100% |
110% RoP |
110% |
130% RoP |
130% |
150% RoP |
150% |
Age at entry (Years)# |
||
Plan Option |
Minimum age (Years) |
Maximum age (Years) |
100% RoP |
18 |
55 |
110% RoP |
18 |
55 |
130% RoP |
18 |
55 |
150% RoP |
18 |
50 |
Maximum age at maturity (Years)# |
|||
Plan option |
Premium payment term (PPT) |
Policy Term (PT) |
Max. Maturity age |
100% RoP |
5 |
15 |
70 |
110% RoP |
7 |
15 |
70 |
130% RoP |
7 |
15 |
70 |
130% RoP |
7 |
20 |
75 |
130% RoP |
10 |
20 |
75 |
150% RoP |
10 |
20 |
70 |
Premium Paying Term (PPT) (Years) |
Limited pay: 5, 7 & 10 years |
Policy Term (Years) |
||
Plan option |
Premium payment term (PPT) |
Policy Term (PT) |
100% RoP |
5 |
15 |
110% RoP |
7 |
15 |
130% RoP |
7 |
15 |
130% RoP |
7 |
20 |
130% RoP |
10 |
20 |
150% RoP |
10 |
20 |
No other policy term and premium payment term combinations are offered.
Minimum Installment Premium (Rs.) |
||||
Plan option |
PPT-PT |
Minimum Yearly premium (Rs.) |
Minimum Half yearly premium^ (Rs.) |
Minimum Monthly premium per month^ (Rs.) |
100% RoP |
5-15 |
8,000 |
4,105 |
750 |
110% RoP |
7-15 |
7,000 |
3,592 |
650 |
130% RoP |
7-15 |
8,000 |
4,105 |
750 |
130% RoP |
7-20 |
7,000 |
3,592 |
650 |
130% RoP |
10-20 |
5,500 |
2,822 |
500 |
150% RoP |
10-20 |
7,000 |
3,592 |
650 |
^Inclusive of Modal loading
Maximum Premium (Rs.) |
Based on maximum Basic Sum Assured of Rs. 10,00,000 |
Minimum Basic Sum Assured(Rs.) |
Based on minimum premium as mentioned above |
Maximum Basic Sum Assured (Rs.) |
10,00,000 |
Premium Payment modes |
Yearly / Half-yearly / Monthly |
#All reference to age are as on age last birthday
Your can buy this plan offline using any of the below methods:
Disclaimer:
AD-F/2021-22/719
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 Plans, Term Plan, Protection Plans, Long Term Savings Plans , Retirement Plans & Child Education Plan.