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    PNB MetLife Grand Assured Income Plan

    An Individual, Non-Linked, Non-Participating, Deferred Annuity Product | UIN: 117N134V02

    You have worked hard all your life in fulfilling your responsibilities and duties towards your family. There must have been times when your wishes took a backseat to provide for requirements of your loved ones. Retirement is the golden period for you to pursue your interests and realize those wishes which remained un-fulfilled, provided you are financially prepared.

    PNB MetLife Grand Assured Income Plan helps you systematically save for your retirement and provides lifelong Guaranteed income to ensure you continue living a Grand lifestyle throughout your Golden years.

    PNB MetLife Grand Assured Income Plan in a nutshell
    • Guaranteed income for lifetime
    • Lock your annuity rates today
    • Choice of 5 Annuity Payout options
    • Provision to pass on a legacy after your death for your next generation

    Want to secure your retirement?

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    What you get

    You receive a steady guaranteed income throughout your life as per your selected annuity option and preferred pay out frequency.

    The various annuity options are:

    Option A: Life Annuity
    Option B: Life Annuity with Return of Purchase Price
    Option C: Life Annuity with Return of Purchase Price on Death or Survival
    Option D: Joint Life Annuity with Return of Purchase Price
    Option E: Joint Life Annuity with Return of Purchase Price and 50% Annuity to surviving annuitant

    PNB MetLife Grand Assured Income Plan allows you to:
    • Option to pay once and receive annuity for lifetime
    • Secure your spouse’s future income, even if you are not around
    • Get your premiums back in case of unfortunate demise1
    • Choose your preferred annuity payout date
    • Get higher annuity rates for higher purchase price

    What you don’t get

    Suicide Exclusion

    For Single Annuitant under the Policy:

    If the Annuitant’s death is due to suicide within twelve months from the Date of Commencement of the Policy or from the Date of Revival of the Policy as applicable, the Nominee of the Policyholder shall be entitled to receive at least 80% of the Total Premium Paid as received by Us till the date of death of the Annuitant or Surrender Value available as on the date of death of the Annuitant, whichever is higher, provided the Policy is in In force Status. We shall not be liable to pay any interest on this amount.

    For Joint Life Policies:

    In case of death of any one of the Annuitants due to suicide within twelve months from the Date of Commencement of the Policy, the Nominee of the Policyholder shall be entitled to receive at least 80% of the Total Premium Paid as received by Us 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. We shall not be liable to pay any interest on this amount.

    Frequently Asked Questions

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    What are the Eligibility Criteria for PNB MetLife Grand Assured Income Plan?

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      Minimum
    Maximum
    Age at Entry (Years) 40

    Option C (Life Annuity with Return of Purchase Price on Death or Survival):  65

    All Other Annuity Options: 84 

    (Annuity Shall
    commence latest by 85 years)

    Minimum Annuity
    Annual Half Yearly Quarterly Monthly
    Rs 12,000 Rs 6,000 Rs 3,000 Rs 1,000
    Purchase Price Minimum Single Pay: Rs 100,000 Maximum Purchase Price: No Limit
    Minimum Limited Pay (5,7 & 10): Rs 30,000

    Limited Pay available for option A, B & C Only

    Premium Paying Term Deferment Period (Years)
    Single Pay 1 - 10
    5 Pay 5 – 10
    7 Pay 7 – 10
    10 Pay 10

    Deferment Period chosen at inception cannot be altered during the policy term

    What is the Deferment Period?

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    “Deferment Period” is the fixed time period measured in completed years from the inception of the policy, during which no annuity payouts are made. Annuity payouts commences post completion of deferment period.

    May I choose the annuity payout date?

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    Yes, you can choose any calendar date as per your choice, post completion of the deferment period to receive your annuity payouts.

     

    Will the annuity rate be higher for longer deferment period?

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    Yes, you can receive higher annuity benefits for longer deferment periods.

    Will my annuity get reduced in the Life Annuity with ROP on Death/Survival post receiving the 50% ROP?

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    No, you will be entitled to the same annuity benefit post receiving 50% ROP at the end of 25th policy year.

    Will my annuity get reduced post death of life on Option 5 - Joint Life Annuity with Return Of Purchase Price and 50% Annuity to surviving Annuitant?

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    Yes, the surviving annuitant shall receive 50% of the original income post death of first annuitant

    *Disclaimer:

    PNB MetLife Grand Assured Income Plan is an Individual, Non-Linked, Non-Participating, Deferred Annuity Product | UIN: 117N134V02

    The past performance of the funds is not indicative of the future performance. Assumed rate of returns are not guaranteed and these are not the upper or lower limits.
    1Not Available for Option A – Life Annuity Option
    *Provided the policy is in-force and all due premium have been paid. The policyholder shall choose the desired Annuity option, premium payment term and deferment period at inception. The annuity shall be payable in arrears under all options, after completion of the deferment period.
    ^The first annuity payout date cannot be earlier than completion of the deferment period.

    AD-F/2022-23/401

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    Disclaimer

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    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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