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) | 5 | 7 | 10 |
| Minimum Entry Age | 8 | 3 | 3 |
| Maximum Entry Age | 60 | 60 | 60 |
| Minimum Maturity Age | NA | NA | NA |
| Maximum Maturity Age | 70 | 75 | 80 |
Plan Details
| Policy Tenure | 10 Years | 15 Years | 20 Years |
| Premium Paying Term | 5 | 7 | 10 |
| Minimum Premium | Rs. 46,480 | Rs. 21,068 | Rs. 14,178 |
| Sum Assured | Rs. 4 lacs | Rs. 2 lacs | Rs. 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.
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.
On Maturity Sum Assured
The sum assured on maturity varies depending on the premium paid by the respected policyholder.
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):
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.
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 Benefits | Amount Received in Rs. |
| Maturity on Sum Assured | 14,47,984 |
| Other Guaranteed Additions | 5,50,000 |
| Total Amount | 19,97,984 |
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.
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.
Last updated on 13-11-2020
