Name: PNB MetLife Capital Guarantee Plus
Brand: PNB MetLife
Rating: 4.4 (3192 reviews)

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Presenting PNB MetLife Long Income For Tomorrow, a comprehensive life insurance plan designed to provide long – term financial security through guaranteed income² payouts while protecting your family in absence. Get complete flexibility to customize your plan according to your unique requirements.

Key features of PNB MetLife Long Income For Tomorrow

Safeguard tomorrow with long – term Guaranteed benefits
Protection against uncertainties with Life and Enhanced Life Cover options*
Keep pace with rising costs with Increasing and Double Income options
Get Guaranteed MoneyBack at end of Income Payout Period¹

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With PNB MetLife Long Income For Tomorrow you get:

Choice between two Cover Options*

Life Option – Life Cover is available up-to end of Deferment Period
Enhanced Life Option – Life Cover available till the end of Income Payout Period

Flexibility to choose from three Income Payout Options

Level Income - Fixed level Guaranteed Income² paid throughout Income Payout Period¹
Increasing Income - Guaranteed Income² increasing at a simple rate of 5% every year starting from second year of Income Payout Period¹
Double Income - Guaranteed Income² is paid at the start of Income Payout Period¹ and this income is doubled in the last fifteen years of the Income Payout Period¹

Guaranteed MoneyBack Benefit

Get your premiums back at the end of the Income Payout Period¹

Flexibility to choose Income Payout Period¹

Option to receive Guaranteed Income² for a fixed term of 25 years, 30 years or 35 years as per your need.

Tax Benefits⁵

Enjoy tax benefits⁵ on premiums paid and benefits received as per prevailing tax laws

What you don’t get:

Suicide Exclusion

In case of death of life assured due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy as applicable, the nominee or beneficiary of the policyholder shall be entitled to receive at least 80% of the Total Premiums Paid till the date of death of the Life Assured or Surrender Value available as on the date of death of the Life Assured, whichever is higher, provided the Policy is in In-force status.

Frequently Asked Questions

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What are the product benefits in this plan?

Benefits

Life Option

Enhanced Life Option

Survival
Benefit

Not applicable

In case of survival of life assured, Guaranteed Income² will be paid to the policyholder during Income Payout Period¹ as per the Income Payout Option chosen

Maturity
Benefit

Guaranteed Income²: In case of survival of life assured, Guaranteed Income² will be paid to the policyholder during Income Payout Period¹ as per the Income Payout Option chosen
Guaranteed MoneyBack Benefit: In case of survival of life assured till maturity date, 100% of total premiums paid in the policy will be paid as Guaranteed MoneyBack Benefit at the end of Income Payout Period¹ along with the last instalment of Guaranteed Income².
Above benefits shall continue to be payable in case of death of life assured during Income Payout Period¹.

In case of survival of life assured till maturity date, Sum Assured on Maturity
(i.e., 100% of total premiums paid in the policy) will be paid as Guaranteed MoneyBack Benefit on that date

Death
Benefit

In an event of unfortunate death of the life assured during the policy term, following Death Benefit shall be payable.
Death Benefit shall be higher of:

(i) Sum Assured on Death, or
(ii) 105% of Total Premiums paid till date of death
(iii) Surrender Value payable as on the date of death

Policy shall terminate with payment of Death Benefit.

What are the eligibility criteria for this plan?

Deferment Period (in years)

0, 1 and 2

Income Payout Period¹ (in years)

25, 30 and 35

Premium Payment Term (PPT) / Policy Term (in years)

Cover Option^*	PPT	Deferment Period	Income Payout Period¹	Policy Term
Life Option (Policy Term: PPT + Deferment Period)	5	0	25,30,35	5
		1		6
		2		7
	7	0		7
		1		8
		2		9
	10	0		10
		1		11
		2		12
Enhanced Life Option (Policy Term: PPT + Deferment Period + Income Payout Period¹)	5	0	25,30,35	30, 35, 40
		1		31, 36, 41
		2		32, 37, 42
	7	0		32, 37, 42
		1		33, 38, 43
		2		34, 39, 44
	10	0		35, 40, 45
		1		36, 41, 46
		2		37, 42, 47

Age at entry³ (in years)

Minimum – 0 (30 days)
Maximum – PPT 5: 50 years, PPT 7: 55 years, PPT 10: 60 years

Age at Maturity³ (in years)

Minimum – 18
Maximum – 99

Annualised
Premium (Rs.)

Minimum –
PPT 5: 30,000
PPT 7 and 10: 24,000

Maximum – As per Board Approved Underwriting Policy

Basic Sum Assured (Rs.)

Life Option: 10 times of Annualised Premium for all PPTs

Enhanced Life Option:
10 times of Annualised Premium for PPT 5 and 7
11 times of Annualised Premium for PPT 10

Premium Payment/Income Payout Modes

Annual, Half-Yearly, Quarterly, Monthly

Are there any additional features in this plan?

Option to commute Future Benefits as lumpsum – This option can be availed only under Life Option and can be chosen on the date of maturity or any time during the Income Payout Period¹. Here, Claimant⁴ has an option to receive the discounted value of the Future Guaranteed Income² and Guaranteed MoneyBack Benefit, in lump sum benefit.
Select the Date option - The policyholder can choose to receive the Guaranteed Income² on any one date, succeeding the due date of Guaranteed Income² payout, as per their choice. This option needs to be selected at policy inception and is only available for annual mode of Guaranteed Income² payout.
Enhance protection by adding below Riders to your plan –
- PNB MetLife Accidental Death Benefit Rider Plus (UIN: 117B020V04) - This provides additional protection over and above the death benefit under this policy in the event of the death of the life assured in an accident.
- PNB MetLife Serious Illness Rider (UIN: 117B021V04) - This provides additional protection over and above the death benefit under this policy in the event of the life assured being diagnosed with any of the critical illnesses listed in the rider.
Please refer to the rider brochure and rider terms and conditions for further details.

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Disclaimer:

PNB MetLife Long Income For Tomorrow An Individual, Non - Linked, Non - Participating, Savings, Life Insurance Plan | UIN: 117N166V01
^*For both Cover options, the life cover is available till the end of Policy Term (where For Life Option, Policy Term is Premium Payment Term plus Deferment Period and For Enhanced Life Option, Policy Term is Premium Payment Term plus Deferment Period plus Income Payout Period).
¹Income Payout Period is the period (in complete years) chosen by the policyholder that shall commence after the end of Premium Payment Term and the Deferment Period.
²Amount of Guaranteed Income will vary based on Annualized Premium, Premium Payment Term (PPT), age at entry, Income Payout Period, Income Payout Option, Deferment Period and Cover Option chosen.
³All 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.
⁴Claimant is the person entitled to receive the Policy benefits as per the terms and conditions of the Policy. It includes the Policyholder, the nominee, the assignee, or their respective legal heir, the legal representative(s) or the holder(s) of succession certificate, as the case may be.
⁵Tax 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. Goods and Services Tax (GST) shall be levied as per prevailing tax laws which are subject to change from time to time.
For more details on risk factors terms and conditions, please read the sales brochure before concluding any sale.
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