PNB MetLife Bachat Yojana

Overview

To save more, invest smartly with the PNB MetLife Bachat Yojana.

PNB MetLife Bachat Yojana plan is a long-term savings plan with the benefit of assured life cover. Under this plan, you can pay premiums for 10 years while enjoying life insurance coverage for 15 years. If you pass away during the policy term, your family shall receive a sum assured along with any accrued bonus.

If you outlive the policy term, you'll receive a sum assured along with any accrued bonus as a maturity benefit. The policy starts earning cash bonuses after three years, which are added at the end of each policy year. With PNB MetLife Bachat Yojana, you get the dual benefits of insurance and disciplined savings at highly affordable premiums.

Key Benefits of PNB MetLife Bachat Yojana Plan

• Death Benefit
• Cash Bonuses
• Maturity Benefits
• Surrender Value
• Policy Revival
• Availability of Riders

How to Buy PNB MetLife Bachat Yojana Plan on PolicyX.com

1. Step 1: Visit the official website of PolicyX.com.
2. Step 2: Click on the ‘Investment’ tab.
3. Step 3: A new page will appear on the screen.
4. Step 4: Fill out the form at the top of the page with the necessary details.
5. Step 5: Select your income and city. Click on 'Proceed'.
6. Step 6: Update your education and occupation details.
7. Step 7: Choose your preferred plan and click on 'Buy this plan'.
8. Step 8: Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.

Benefits of PNB MetLife Bachat Yojana Plan

There are various benefits to buying the PNB MetLife Bachat Yojana Plan. Let’s understand each of them in detail:

Death Benefit

If the insured person passes away during the policy term, the guaranteed sum assured on death shall be payable to the nominee with the following additions:

Death Sum Assured + Accrued Simple Reversionary Bonus (if declared) + Terminal Bonus

Maturity Benefit

The policyholder will receive the maturity benefit once the policy matures at the end of the policy tenure. Under PNB MetLife Bachat Yojana, the maturity value typically includes:

Base Sum Assured + Simple Reversionary Bonus + Terminal Bonus (if declared).

Cash Bonuses

The policy will start earning a Simple Reversionary Bonus after three years, which will be added at the end of each policy year. The bonus is payable on death, maturity, or surrender, whichever is earlier.

Surrender Value

Once your policy has obtained surrender value and you want to discontinue your policy, you'll receive the surrender value equal to the maximum Guaranteed Surrender Value and Special Surrender Value.

Additional Features

Dual Benefits

The plan offers dual benefits of insurance and long-term savings.

Grace Period

If you are unable to make the premium payment on time, the policy provides a grace period of 15 days (for monthly mode) and 30 days (for other payment modes).

Surrender

Once the policy has acquired a guaranteed surrender value after full payment of premiums for two continuous years, an insured can surrender the policy.

Assured Bonuses

Upon the insured person's death, the insurer shall pay the sum assured along with a bonus to the nominee.

How to Buy PNB MetLife Bachat Yojana Plan Directly

1. Step 1: Visit the official website of PNB MetLife Insurance.
2. Step 2: Hover over 'Investment Plans' from the top menu.
3. Step 3: Click on 'PNB MetLife Bachat Yojana Plan'.
4. Step 4: Click on ‘Buy Now’ to be redirected to a new page.
5. Step 5: Enter your name and contact information. A representative will reach out to discuss quotes.
6. Step 6: After discussion, you can make the premium payment and receive the policy documents.

Exclusions

If the policyholder commits suicide within 12 months of policy purchase, no death benefits are offered to their family members. In such a case, either 80% of the premiums paid to date or the surrender value acquired to date, whichever is higher, will be paid.

Documents Required to Buy PNB MetLife Bachat Yojana Plan

Here is the list of documents required to buy the PNB MetLife Bachat Yojana Plan:

Photo ID Proof

• Passport
• Aadhaar card
• PAN card
• Driving license

Age Proof

• Passport
• Aadhaar card
• PAN card
• Driving license

Address Proof

• Utility bill
• Passport
• Voter ID
• Ration card

Medical Records

• Medical records of the policyholder, if requested.

Income Proof

• Bank statement
• Last three months' salary slips (if salaried)

Plan at a Glance

In a Nutshell

PNB MetLife Bachat Yojana plan offers dual benefits of insurance and long-term savings. You can grow your savings with yearly bonuses from the end of the 3rd year onwards until maturity. To learn more about this plan, you can reach out to us at PolicyX.com.