Saral Pension Plan - Retirement Pension Scheme in India

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PNB MetLife Saral Pension Plan in a nutshell

Pay once and get a Guaranteed Income with ROP.
Income Protection for your family, when you are not around.
Liquidity In case of diagnosis of Critical illness.

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What you get

Survival Benefit

Life annuity with return of 100% of purchase price option:
Fixed annuity amount is payable during the survival of the annuitant.
Joint Life Last Survivor annuity with return of 100% of purchase price option:
Fixed annuity amount is payable during the survival of the annuitant.
On Death of annuitant, Spouse receives the same Fixed annuity amount till his/her death.

Death Benefit

Life annuity with return of 100% of purchase price option:
100% of the Purchase Price will be paid to the nominee/ legal heirs
Joint Life Last Survivor annuity with return of 100% of purchase price option:
On death of the annuitant, Spouse will receive the same amount of the fixed annuity till his/her death. On death of the spouse, 100% of Purchase price will be paid to the nominee/ legal heirs.
Spouse if Pre-Deceased the annuitant, on death of the annuitant, 100% of the Purchase Price will be paid to the nominee/ legal heirs.

Choice of Policy Term

This plan is offered for whole life.

Choice of Premium Payment Option

This plan offers a Single premium option.

Surrender Benefit

Policy can be surrendered any time after six months from the commencement of the policy, if you or your spouse or any of your children is diagnosed from any of the listed Critical illness.

95% of the Purchase Price shall be paid to the annuitant, subject to the deduction of outstanding loan amount and outstanding loan interest, if any

Availability

This plan is made available to you for buying online and offline through multiple distribution touch points.

What you don’t get

Maturity Benefit

No maturity benefit provided under this plan

Things You Need to Know

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What is PNB MetLife Saral Pension Plan?

Presenting PNB MetLife Saral Pension Plan – an individual Single pay, non-linked, non-participating, Immediate Annuity Plan as per guidelines of Insurance Regulatory & Development Authority of India (IRDAI) which offers you complete peace of mind & protects you and your family in case of any unforeseen events.

What are the Key Benefits of this plan?

Protect your family:
- Cover your spouse by choosing Joint Life annuity option.
- Leave a legacy for your family by Return of Purchase Price option
Choose your own annuity plan:
- Life annuity with return of 100% of purchase price or
- joint Life Last Survivor annuity with return of 100% of purchase price
Choice of Premium Payment Option- Pay only once, and get a guaranteed income for lifetime
Select the frequency of an annuity pay out - Monthly, Quarterly, Half-yearly or Yearly

What are the Death Benefits of this plan?

• Life annuity with return of 100% of purchase price option:

100% of the Purchase Price will be paid to the nominee/ legal heirs

• Joint Life Last Survivor annuity with return of 100% of purchase price option:

On death of the annuitant, Spouse will receive the same amount of the fixed annuity till his/her death. On death of the spouse, 100% of Purchase price will be paid to the nominee/ legal heirs.
Spouse if Pre-Deceased the annuitant, on death of the annuitant, 100% of the Purchase Price will be paid to the nominee/ legal heirs.

What are the Maturity Benefits of this plan?

There is no Benefit payable on survival till the end of policy term.

What are the eligibility criteria for this plan?

Parameter	Minimum		Maximum
Age at entry¹ (yrs.)	40 years		80 years
Annuity Payout	Monthly	Rs.1,000	No Limit
	Quarterly	Rs.3,000
	Half Yearly	Rs.6,000
	Yearly	Rs.12,000
Purchase Price	Minimum Purchase Price is equivalent to an amount which will provide minimum annuity as stated above Maximum – No Limit
Annuity Payout Mode	Yearly / Half Yearly / Quarterly / Monthly
Premium Paying Term	Single Pay
Policy Term	Whole Life

¹All references to Age are as on age last birthday

How can I buy PNB MetLife Saral Pension Plan?

You can purchase this plan through any of the following methods:

Send me an Advisor
Visit the Nearest Branch
Contact us

Disclaimer:

For More details on risk factors, terms and condition please read the sales brochure before concluding the sale. For Further details on all the conditions exclusions related to product, please contact our insurance advisors.
Tax Benefits under this plan may be available as per the provisions and conditions of the Income Tax Act, 1961 and are subject to any changes made in the tax laws in future. Please consult your tax advisor for advice on the availability of tax benefits for the Premiums paid and proceeds received under the policy for more details.
PNB MetLife Saral Pension Plan, Single Premium, Non-linked, Non-participating, Immediate Annuity Plan | UIN: 117N130V02

AD-F/2024-25/594