PNB MetLife Guaranteed Savings Plan
PNB MetLife Guaranteed Savings Plan
  • 10% Guaranteed Addition of Premium
  • Rider Option Available
  • Flexible Premium Paying Term
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PNB MetLife Guaranteed Savings Plan

Today, we live in a world where our expenses keep on piling up at our doorstep. So, it has become very crucial to do financial planning to secure your family’s future. But we are constantly under the mountain of work and don’t get enough time to concentrate on our finances. Luckily, PNB MetLife is here to assist you with its new weapon of financial peace- PNB MetLife Guaranteed Savings Plan.

Here you need to invest some amount of money on regular intervals (for some years) and after that, you will receive the lump sum amount on maturity with additional benefits on cumulative premiums. This will help you to overcome your requirements- short term & long term financial family goals.

Eligibility Criteria

Premium payment (in years)5710
Minimum Entry Age833
Maximum Entry Age 606060
Minimum Maturity AgeNANANA
Maximum Maturity Age707580

Plan Details

Policy Tenure10 Years15 Years20 Years
Premium Paying Term5710
Minimum PremiumRs. 46,480Rs. 21,068Rs. 14,178
Sum AssuredRs. 4 lacsRs. 2 lacsRs. 1.5 lacs

FYI, PNB MetLife Guaranteed Savings Plan gives us a 15 days free look period after we receive the receipt of the policy. During that time, the respected policyholder can make a decision to cancel the policy by providing the written cancelation request. For our monthly premium payment, they give us a 15 to 30 days grace period to make the payment.

Key Features of PNB MetLife Guaranteed Savings Plan

  • Pay the premium via various flexible options.
  • Get a life cover for the entire policy and its the term.
  • Grab enormous benefits on the maturity of this plan.
  • Get protection enhancement for serious illness and accidental death.

Benefits of PNB MetLife Guaranteed Savings Plan

Maturity Benefits

Once the plan is matured & all premiums have been paid off, you will get guaranteed accrued additions & sum assured on maturity plus.

Benefits of Guaranteed Additions

All the following additional benefits will get added to your premium during the last year of your policy tenure.

  • If you choose to pay premiums in 5 years, you will receive 5% of the cumulative premium.
  • If you choose to pay premiums in 7 years, you will receive 7% of the cumulative premium.
  • If you choose to pay premiums in 10 years, you will receive 10% of the cumulative premium.

On Maturity Sum Assured

The sum assured on maturity varies depending on the premium paid by the respected policyholder.

  • If you choose to pay premiums in 5 years, you will receive 70% of the basic sum assured.
  • If you choose to pay premiums in 7 years, you will receive 100% of the basic sum assured.
  • If you choose to pay premiums in 10 years, you will receive 130% of the basic sum assured.

Death Benefits

If the death occurs during the policy period or after maturity, the following benefits will be given to the nominee (legally mentioned in the form at the time of policy purchase):

  • The nominee will receive 105% of the total paid premium.
  • The assured sum on policy maturity and based sum assured.

Tax Benefits

Yes, you read that correctly. With this plan, you will get the tax benefits on the premium you are paying under Section 80(C) & Section 10(10D) of Income Tax Act 1961.

How Does This Plan Work?

Let’s understand the working of this plan with the help of an example:

Simran (a working woman between 30-35 years of age) has purchased PNB MetLife Guaranteed Saving Plan. She chooses to pay the premium for 10 years and her policy tenure is 20 years. She pays a yearly premium of Rs.1,00,000 and the sum assured is of Rs.11,13,834. Other benefits that she will receive are:

Applicable BenefitsAmount Received in Rs.
Maturity on Sum Assured14,47,984
Other Guaranteed Additions5,50,000
Total Amount19,97,984

PNB MetLife Guaranteed Savings Plan

Which Riders Are Available in This Plan?

In this plan, you can take the help of two riders. They are given below:

PNB MetLife Accidental Death Benefit Plus Rider

It provides extra protection (including the death benefits) in the event of the policyholder’s death because of an accident.

MetLife Serious Illness Rider

It offers protection if the policyholder is diagnosed with any illness stated by the rider.

PNB MetLife Guaranteed Savings Plan Review

It doesn’t matter what kind of future you are planning to structure. Savings will definitely be a part of it. So, why delay the inevitable? Hurry & buy the PNB MetLife Guaranteed Savings Plan to give a boost to an idea of living a financially sorted future.

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Last updated on 16-01-2020