An Individual, Non-Linked, Non-Participating, Deferred Annuity Product | UIN: 117N134V05
PNB MetLife’s Circle of Life solution has answers to all your questions that helps you to step towards the Golden Days of your life by planning early and ensuring guaranteed income* lifelong. With PNB MetLife Grand Assured Income Plan you can finalize your post retirement income right now and be financially prepared for the second innings of your life.
What you get
Annuity Benefits: Receive a steady guaranteed income* throughout your life
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 and 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.
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
| 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 |
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| 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
“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.
You can choose any date up to 1 year from the completion of deferment period to receive your annuity payouts.
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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 Plans, Term Plan, Protection Plans, Long Term Savings Plans , Retirement Plans & Child Education Plan.
PNB MetLife Grand Assured Income Plan is an Individual, Non-Linked, Non-Participating, Deferred Annuity Product | UIN: 117N134V05
1Not Available for Option A – Life Annuity Option
*T&C Apply,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.
‘9.29% (inclusive of high premium booster) shown is for male age 50 yrs, annualized premium of Rs. 5 Lakhs p.a. exclusive of all taxes, Premium Payment Term of 10 yrs, Life Annuity option chosen with annual annuity frequency. | “Guaranteed benefits are dependent on the product T&C along with other variable factors, provided the policy is in-force & all due premiums have been paid.
Tax 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 carefully before concluding any sale.
AD-F/2024-25/849
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