Guaranteed Future Plan - Best Guaranteed Savings Plan in India

Name: MetLife Guaranteed Future Plan
Brand: PNB MetLife
Rating: 4.3 (253482 reviews)

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This plan is created to enable you to systematically save and protect you against unforeseen and unfortunate life events, while also offering you guaranteed returns. PNB MetLife Guaranteed Future Plan ensures that you are able to meet the financial goals in your life with a higher degree of certainty while also giving you complete control and flexibility to customize your plan as per your unique requirements.

PNB MetLife Guaranteed Future Plan in a nutshell

Guaranteed¹ Benefits
Flexibility to choose benefits
Guaranteed Additions² & Boosters³ to boost your corpus
Higher Premium Rewards

Tax benefits and optional features

Market competitive

Long-term post-tax guaranteed returns

Benefit options

Endowment Option

Income Option

Income + Lumpsum Option

Income + Booster

Enjoy 0% TDS**

No TDS** applicable

Best-in-class customization

Choose any date to commence the income pay-out to coincide with any special date like birth date or anniversary date.

Deferment of 1 or 2 years

Looking for guaranteed savings?

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What you get

Premium Payment Flexibility

Choose from various flexible premium payment options from 5, 7 up to 15 years or Single Pay.

Payout Flexibility

You can choose to receive your benefits either as a Lumpsum or a Guaranteed Income.

Guaranteed Income

Get guaranteed income ranging from 101.38% to 235.18% of annualised premium.

Safeguard Against Uncertainties

Get a life cover for the entire policy term and the option to enhance your protection through Accidental Death and Serious Illness riders.

Tax Benefits

Enjoy tax benefits on premiums paid and benefits received as per prevailing tax laws.

Loan Against Policy

You may take a loan against your policy once it acquires a Surrender Value up to 80% of the Surrender Value of your policy.

Benefits with PNB MetLife Guaranteed Future Plan

Limited Premium Paying Plan

Single Premium Paying Plan

Death Benefit

PNB MetLife Accidental Death Benefit Rider Plus

Get freedom from financial worries in unforeseen accidents

PNB MetLife Serious Illness Rider

Enhance your Life Insurance Cover and Be Double Sure!

No TDS** deduction on Premium Paying Policy (In-Force^##) benefit payout

Payable as -

Income Benefits
Maturity Benefits
Booster Benefits⁵
(In addition to guaranteed income, booster pay-outs are done at specific intervals.)

No TDS** deduction on benefit payouts.

No TDS** deduction on death benefit

Payable for-

Premium Paying Policy (In-Force/ Paid-up^#^#)

This rider provides additional protection in the event of the death of the Life Assured in an accident, over and above the death benefit provided under PNB MetLife Guaranteed Future Plan.

In the event of the death of the life insured due to an accident occurring within the policy term, 100% of Rider Sum Assured shall be payable. The Policyholder can opt for this rider either at inception along with PNB MetLife Guaranteed Future Plan or at any policy anniversary during its tenure.

This rider provides additional protection in the event of the Life Assured being diagnosed with any of the critical illnesses listed in the rider. This additional protection is provided over and above the death benefit under the PNB MetLife Guaranteed Future Plan.

The rider provides 100% of the Rider Sum Assured on survival of 30 days following the confirmed diagnosis of the Person Insured suffering from one of the below Insured Critical Illnesses:

1.Myocardial Infarction (First Heart Attack – Of
Limbs.Specified Severity)

2. Stroke Resulting in Permanent Symptoms

3. Cancer of Specified Severity

4. Open Chest CABG

5. Kidney Failure Requiring Regular Dialysis

6. Major Organ / Bone Marrow Transplant

7. Aorta Surgery

8. Total Blindness

9. Open Heart Replacement or Repair of Heart Valves

10. Permanent Paralysis of Limbs.

The Policyholder can opt for this rider either
at inception along with PNB MetLife Guaranteed Future Plan or at any policy anniversary during
its tenure.

With PNB MetLife Guaranteed Future Plan:

Choose from 4 Plan Options -
Option 1: Endowment Option.
Option 2: Income Option
Option 3: Income + Lumpsum Option
Option 4: Income + Boosters
Guaranteed Income factor ranging from 101.38% to 235.18% of Annualised premium⁴
Booster additions ranging from 9.90% to 354.09% of Annualised premium in addition to your regular income payout⁵ with Income + Boosters option.

What you don’t get

Suicide Exclusions

If the Life Assured’s death is due to suicide within twelve months from the date of commencement of risk or from the Date of Revival of the Policy as applicable, the Nominee or beneficiary of the Policyholder shall be entitled to 80% of the total Premium paid till the date of death under the Policy death or Surrender Value available as on the date of death, whichever is higher, provided the Policy is in Inforce status. We shall not be liable to pay any interest on this amount.

Frequently Asked Questions

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What are the Payout Options under this plan?

The needs of every customer are different. Some may require the policy to act as an income replacement system, while others may expect it to take care of liabilities. PNB MetLife Guaranteed Future Plan takes cognizance of every customer’s needs and offers four different payout options.

Option 1: Endowment Option – Total Premium payable along with accrued Guaranteed Additions and accrued Wealth additions is paid as a Lumpsum at the end of the policy term.
Option 2: Income Option – Guaranteed Income payouts are paid during the Income Payout Period.
Option 3: Income + Lumpsum Option – Guaranteed Income payouts are paid during the Income Payout Period and accrued Wealth additions are paid as a Lumpsum at the end of the policy term.
Option 4: Income + Boosters – Guaranteed Income payouts are paid at regular intervals during the Income Payout Period. Additional payouts termed as ‘Booster Additions’ will be paid at specifed intervals along with the Guaranteed Income Payouts. The above benefits will be payable provided the policy in-force and all due instalment premiums have been paid. Refer to the below table for more details.

Benefits	Option 1 Endowment	Option 2 Income	Option 3 Income + Lumpsum	Option 4 Income + Boosters
Survival - On survival of the Life Assured, provided all due premiums are paid and the policy is fully in-force.	Not applicable	Annualised Premium plus Accrued Guaranteed Additions	Annualised Premium plus Accrued Guaranteed Additions	Annualised Premium plus Accrued Guaranteed Additions Booster Additions with specified income payouts
Maturity - On survival of Life Assured to maturity date provided all due premiums are paid	Total Premiums payable plus Accrued Guaranteed Additions plus Accrued Wealth Additions⁶	Not applicable	Accrued Wealth Additions⁶	Not applicable
Death - On deathof the Life Assured during the policy term	Sum Assured on Death shall be defined as Higher of: Basic sum assured (BSA), which is the absolute amount assured to be paid on death. Annualized/Single Premium multiplied by the Death Benefit Multiple 105% of Total Premiums Paid up to date of death Where: Basic Sum Assured (BSA) is defined as: For Single Pay: 1.25 times Single Premium For Limited Pay: 10 times Annualized Premium
	The death benefit payable on death shall not be less than -- Total Premiums Paid plus accrued Guaranteed Additions and accrued Wealth Additions (if any) till the date of death.	The death benefit payable on death shall not be less than -- Total Premiums Paid plus accrued Guaranteed Additions less Guaranteed Income Payouts made during the Income Payout Period (if any) till date of death	The death benefit payable on death shall not be less than -- Total Premiums Paid plus accrued Guaranteed Additions and accrued Wealth Additions (if any) less Guaranteed Income Payouts made during the Income Payout Period (if any) till date of death.	The death benefit payable on death shall not be less than -- Total Premiums Paid plus accrued Guaranteed Additions and accrued Booster Additions less Guaranteed Income Payouts made during the Income Payout Period (if any) till date of death

What are the eligibility criteria for PNB MetLife Guaranteed Future Plan?

Premium Paying Term (PPT) and Policy Term (PT) (Years):

Following PT and PPT combinations are available:
For Option 1: Endowment Option –

PPT	5	7	8	9	10	11	12	13	14	15
PT	12,15,20,25 & 30	15,20,25 & 30	16	18	15,20,25 & 30	22	20,24,25 & 30	26	28	30

For Options 2 & 3:

PPT	SP^$	5^	7	8	9	10	11	12	13	14	15
PT	15,20 & 30	12	14, 15, 16, 27, 28 & 29	16, 17 & 18	18, 19 & 20	20, 21, 22, 30, 31 & 32	22, 23 & 24	24, 25 & 26	26, 27 & 28	28, 29 & 30	30, 31 & 32

For Options 4:

PPT	SP^$	7	8	9	10	11	12	13	14	15
PT	15,20 & 30	14, 15 & 16	16, 17 & 18	18, 19 & 20	20, 21 & 22	22, 23 & 24	24, 25 & 26	26, 27 & 28	28, 29 & 30	30, 31 & 32

^Not available under Option 4: Income + Booster ^$SP will not be available for Option 1,3 & POS channel
Maximum Policy Term allowed for policies sold through POS channel is 20 years

Minimum age⁸ at entry (Years)

Policy Term (Years)	Minimum Entry Age
12	6 years last birthday
14	4 years last birthday
15	3 years last birthday
16	2 years last birthday
17	1 year last birthday
18 and above	0 (30 days)

Maximum age⁸ at entry (Years)

60 years
For policies purchased through POS channel, the maximum age at entry will be 55 years as per prevailing POS guidelines, as amended from time to time

Maximum age⁸ at Maturity (Years)

Single pay: 80
Limited pay: 92 Years
For policies purchased through POS channel, the maximum age at maturity for Limited pay will be 65 years; as per prevailing POS guidelines, as amended from time to time.

Minimum Annualized Premium (Rs.)

Single Pay: Rs. 2,00,000
Limited Pay (Other than POSP): Rs. 11,287
Limited Pay (Sourced through POSP): Rs. 12,000

Maximum Annualized Premium (Rs.):

1,00,00,00,000 subject to maximum Basic Sum Assured limit as per Board Approved Underwriting Policy.

Minimum Basic Sum Assured:

For Limited pay: 10 x Annualised premium
For Single pay: 1.25 x Single premium

Maximum Basic Sum Assured:

As per Board approved underwriting policy.
For policies purchased through POS channel, the maximum Sum Assured will be Rs. 25 lakhs without any medicals as per prevailing POS guidelines, amended from time to time.

Rider Options:

Riders will not be available for policies purchased through POS channel.
PNB MetLife Accidental Death Benefit Rider Plus – 117B020V04
PNB MetLife Serious Illness Rider – 117B021V04

Premium payment modes:

Single / Yearly / Half Yearly / Monthly
Single pay option will not be available with Option 1 and Option 3.

⁸ All reference to age are as on age last birthday. For policies issued to minor lives the risk cover starts immediately at inception. Also, in case the life assured is a minor, the policy will vest with the life assured when the life assured attains an age of 18 years.

How can I purchase PNB MetLife Guaranteed Future Plan?

You can purchase this plan offline through any of the below methods:

Disclaimer:

PNB MetLife Guaranteed Future Plan is an Individual, Non-Linked, Non-participating, Savings Life Insurance Plan (UIN: 117N124V13)

¹ Terms and conditions apply
² Guaranteed Additions (GA) will accrue throughout Premium Payment Term as a percentage of Annualised Premium and will vary based on Premium payment term, entry age and benefit option chosen
³ Boosters will be available with ‘Income + Boosters’ Option only and will not be available with other options.
⁴ Guaranteed Income Payout percentage will vary based on Premium payment term, age, policy term and benefit option chosen. Guaranteed Income is not payable in Option 1.
⁵ Booster additions will be available with ‘Income+ Booster Option’ percentage will vary based on Premium payment term, age, policy term.
⁶Wealth Additions (WA) will be available with ‘Endowment’ & ‘Income + Lumpsum’ options. Was accrue after completion of Premium Payment Term as a percentage of Total Premiums Payable and will vary based on Premium payment term and entry age.
Policyholder cannot choose the date preceding the due date of the income payout.
^@Easy Liquidity option refers to the loan option available with the product
**Tax deduction at source (TDS) is subject to the extant of provisions applicable under section 194DA Income Tax Act, 1961. The rate of TDS at present is 5% on the amount of income comprised therein i.e. after deducting the amount of insurance premium paid by a resident assessee from the total sum received and is subject to change from time to time. However, TDS is not deductible if the amount of such payment is less than 1 lakh in the financial year. TDS rates are subject to change from time to time. Please consult your tax advisor regarding availability of tax benefit for the premiums paid and proceeds received under the policy. Higher TDS rate at 20% will apply in case Permanent Account Number (PAN) not provided and Aadhaar number not linked with PAN at Income Tax Portal. In such cases TDS certificate cannot be generated and issued.
^{^}Tax benefits are as per Income Tax Act, 1961 & are subject to amendments made thereto from time to time. Please consult your tax consultant for more details. Goods and Services Tax (GST) shall be levied as per prevailing tax laws which are subject from time to time.
^##In force policies are policies where due premiums are paid and all original benefits fully inforce. In case due premiums are unpaired policy may be lapsed or paid up and benefit may be unavailable or partially available. Details on TDS deduction for paid-up policies can be accessed by calling us toll free at 1-800-425-6969 or by writing to us at indiaservice@pnbmetlife.co.in
For more details on risk factors terms and conditions, please read the sales brochure before concluding any sale.