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Overview
PNB MetLife Guaranteed Savings Plan is an individual, non-participating, non-linked savings-plus-life insurance policy. By serving the dual purposes of creating a savings corpus while also ensuring life cover, the Guaranteed Savings Plan ensures that your family's monetary needs are looked after even in your absence.
Key Benefits
- Maturity Benefit
- Death Benefit
- Discounts on High Sums Assured
- Loan Benefit
- Additional Riders
How to Buy PNB MetLife Guaranteed Savings Plan on PolicyX.com
- Visit the official website of PolicyX.com.
- Click on the 'Investment' tab.
- A new page will appear on the screen.
- Fill out the form at the top of the page with the necessary details.
- Select your income and city. Click on 'Proceed'.
- Update your education and occupation details.
- Choose your preferred plan and click on 'Buy this plan'.
- Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.
Benefits of PNB MetLife Guaranteed Savings Plan
There are various benefits to buying the PNB MetLife Guaranteed Savings Plan. Let's understand each of them in detail:
Death Benefit
The nominee is liable to receive the death benefit plus accrued returns on premiums paid in case of the unfortunate demise of the Life Assured. The lump-sum capital can be used by the Life Assured's family to pursue short-term and long-term goals. The death benefit is payable as 105% of total premiums paid or annualized premium * premium multiple (see eligibility criteria) or basic sum assured at inception, whichever is highest.
Maturity Benefit
The sum assured on surviving the policy term is calculated as a percentage of the basic sum assured, along with guaranteed additions on the cumulative premiums paid per year.
Discounts on High Sums Assured
Policyholders are eligible to receive discounts on premiums if the sum assured is:
- Rs. 7 Lakhs and up in case of 5 Pay
- Rs. 3.5 Lakhs and up in case of 7 Pay
- Rs. 3 Lakhs and up in case of 10 Pay
Loan Benefit
This benefit allows policyholders to avail a loan against their policy.
Additional Riders
Riders safeguard against unexpected events that could otherwise leave a dent in your finances. They can be added to the basic plan at nominal charges.
Revival
The revival period for a lapsed/paid-up policy is typically 5 years. In case of a lapsed policy, the insured needs to pay all pending premiums along with any levied interest.
Grace Period
Under this benefit, the insured gets 15 days for monthly premium payments and 30 days for other frequencies to pay the premium without any penalty.
Alterations
The insured is permitted to change the premium payment frequency and income payout frequency. A plan chosen at the time of buying the policy cannot be changed.
How to Buy PNB MetLife Guaranteed Savings Plan on PNB MetLife Website
- Visit the official website of PNB MetLife Insurance.
- Hover over 'Buy Insurance' from the top menu.
- Click on 'PNB MetLife Guaranteed Savings'.
- Click on 'Buy Now' and you will be redirected to a new page.
- Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.
- Once discussed, you can make the premium payment and get the policy documents.
Exclusions
- In case the policyholder commits suicide within 12 months of policy purchase, no death benefits are offered to their family members. Either 80% of the premiums paid to date or the surrender value acquired to date, whichever is higher, is paid.
Documents Required to Buy PNB MetLife Guaranteed Plan
Here is the list of documents required to buy the PNB MetLife Guaranteed Plan:
-
Photo ID Proof
Passport, Aadhaar card, PAN card, Driving license (either of one).
-
Age Proof
Passport, Aadhaar card, PAN card, Driving license (either of one).
-
Address Proof
Utility bill, passport, voter ID, ration card (either of one).
-
Medical Records
Medical records of the policyholder if requested.
-
Income Proof
Bank statement, last three months' salary slips (if you are salaried) (either of one).
Plan at a Glance
| What's Good Here | What's Missing |
|---|---|
| Loan Benefit | Premium Offset |
| Additional Riders | High Sum Assured Rebate |
| Discounts on High Sums Assured | Auto Cover Continuance |
| Maturity Benefit | Top-up Premium |
In a Nutshell
If you are looking for an investment plan that offers guaranteed returns for you and your family, you must opt for PNB MetLife Guaranteed Savings Plan. This plan offers guaranteed benefits.
For more information about this plan, visit PolicyX.com or call 1800 - 420 - 0269. Our insurance experts listen to your unique needs and suggest the best possible solution.
