Family Income Protector Plus
  • Monthly Income for 20 yrs
  • Return of premium
  • Tax benefits
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PNB Metlife Family Income Protector Plus

'A Term plan that gives regular monthly income after your demise'

If you support your family financially through your income, then undoubtedly, the comfort, happiness, and protection of your loved ones depend on you. But what if any miss-happen occurs to you? Such a scenario can strip your family off the financial aid too.

Therefore, to keep the family income flowing even after your demise, PNB Metlife has introduced a term plan named 'Family Income Protector Plus'. A unique non-linked term insurance plan that will protect your family from any future uncertainties by providing a regular monthly income for up to 20 years. Not only this, if you outlive your policy, the premiums that you paid will be given back to you.

Let's get to know the plan in detail.

PNB Metlife Family Income Protector Plus: Eligibility Criteria

Entry Age

Min - 25 years
Max - 60 years

Maturity Age

75 years

Policy term option

10 years/15 years/20 years

Sum Insured

Min - 9.10 Lakhs
Max - 1.42 Crores

Plan options

Term cover & Term with Return of Premium(TROP)

Premium paying options

Yearly/Half-yearly/Monthly/PSP modes

PNB Metlife Family Income Protector Plus: Features

  • Guaranteed Monthly Income

    PNB Metlife Family Income Protector Plus term plan provides a regular guaranteed monthly income for up to 20 years. This makes sure that the family income doesn't stop even after you.

  • Tax Benefits

    You can claim up to 1.5 lakhs of tax benefits under section 80C of The Income Tax Act, 1961, against the premiums paid for this policy.

  • Affordable Premiums

    The premium of PNB Metlife Family Income Protector starts at just Rs. 2520/- on a monthly basis for the policy term of 20 years. This means that you can get good coverage for smaller premiums.

  • Return of Premium

    Under the return of premium option, you can get 110% of all the paid premiums back (Taxes excluded), if you survive the whole policy term.

Premium Illustration of PNB Metlife Family Income Protector Plus

Here is the Premium illustration of PNB Metlife Family Income Protector Plus for a 25-year-old man, non- smoker, choosing a policy term of 15 years and premium payment term of 5 years with a sum assured of 50 lacs.

Without Return of premiums

AgePolicy term Premium paying termSum assuredPremium amount (Monthly)
2515 years 5 years50 lacs5Rs. 1389/-

Benefits of PNB Metlife Family Income Protector Plus

Below are the benefits associated with PNB Metlife Family Income Protector Plus.

  • Monthly Income : Upon your demise, the nominee will receive a regular monthly income as per the chosen benefit option.
    The benefit payout option should be calculated as per the table below:
    Policy TermBenefit Payout Period
    10 years240 months
    15 years180 months
    20 years120 months

    Kindly note: You can also select the death benefit as a lump sum, PNB Metlife Family Income Protector Plus will consider the death benefit among the highest of:
    • 11 times of single premium
    • 125% of Single Premium
    • Sum assured on maturity
  • Maturity Benefit Upon the survival of the whole policy term, Family Income Protector Plus will pay you back 110% of the total premiums paid during the policy term.
  • Surrender Benefit Surrender benefit refers to the amount you will get if you do not want to continue with the plan anymore.
    • In the case of Pure term cover: For pure-term cover, there is no surrender benefit available.
    • In the case of the Return of Premium option: For the TROP option, the surrender value will only be received if you pay at least two full years of premiums until the policy is surrendered.
      The calculation of the surrendering value is as follows:
      Surrender value=Initial base sum assured x (Number of premiums paid/Number of premiums payable) + total bonus received.

PNB Metlife Family Income Protector Plus: Other Provisions

  • Free-look Period: Suppose you are unsatisfied with the terms and conditions associated with the PNB Metlife Family Income Protector Plus term plan. In that case, you can cancel the plan by giving a written notice or emailing PNB Metlife within 15 days of plan purchase (offline purchase) and 30 days (online purchase).
  • Grace Period: Suppose you miss paying your premium on the due date then you have 30 days to pay the premium without interest (Annually premiums) and 15 days (for Monthly premiums).

Explore Other PNB Metlife Term Insurance Plans

Comprehensive Plan

PNB MetLife Mera Term Plan Plus

Offers financial protection to your loved ones and gives the flexibility to customize the plan according to your needs.

Unique Features

  • Tax Benefits
  • Joint Life Cover
  • Critical illness benefit

Mera Term Plan Plus (Pros)

  • Terminal Illness
  • Waiver Of Premium on (ATPD)
  • Accelerated Critical Illness Benefit

Mera Term Plan Plus (Cons)

  • No Policy Discount
  • No Policy Loan Allowed
  • No Maturity Benefit Without ROP Option

Mera Term Plan Plus (Other Benefits)

  • 4 Rider Option
  • 10% Step-up Benefit
  • Rebate on High Sum Assured

Mera Term Plan Plus (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Min Sum Assured - 25L
  • Premium Payment Term - SP/RP/LP
  • Maturity Age - 99 years (Whole Life)

Comprehensive Plan

PNB Metlife Ajeevan Suraksha Plan

The plan offers protection against terminal illness. It provides two cover options: Fixed Term Cover and Whole Life Cover, along with two rider options.

Unique Features

  • Return of Premium Benefit
  • Death or Terminal Illness Benefit
  • Enhance with Riders

Ajeevan Suraksha Plan (Pros)

  • Maturity Benefit
  • 4 Payout Options
  • Option To Cover Spouse

Ajeevan Suraksha Plan (Cons)

  • No Policy Loan Available
  • Complexity In Payout Options
  • No Maturity Benefit Without ROP Option

Ajeevan Suraksha Plan (Other Benefits)

  • Special Benefits For Women
  • PNB MetLife Serious Illness Rider
  • PNB MetLife Accidental Death Benefit Rider

Ajeevan Suraksha Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Min Sum Assured - 25L
  • Max Maturity Age - 99 Years
  • Premium Payment Term - RP/SP/LP (5 To 15 Yrs)

Standard Plan

PNB MetLife Mera Jeevan Suraksha Plan

The plan offers a monthly income and a lump sum benefit equal to 100 times the monthly income. Cover you spouse under the Joint Life Cover Benefit.

Unique Features

  • Return of Premium Benefit
  • Death or Terminal Illness Benefit
  • Surrender Benefit

Mera Jeevan Suraksha Plan (Pros)

  • Maturity Benefit
  • 4 Payout Options
  • Rebate on High Sum Assured

Mera Jeevan Suraksha Plan (Cons)

  • No Policy Loan Available
  • Only Regular Pay Option
  • No Surrender Benefit Without ROP Option

Mera Jeevan Suraksha Plan (Other Benefits)

  • Spouse Cover
  • Monthly Income For 10 Years
  • Suicide Cover After 12 Months

Mera Jeevan Suraksha Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Min Sum Assured - 25L
  • Max Maturity Age - 80 Years
  • Premium Payment Term - RP/SP/LP (5 To 15 Yrs)

Standard Plan

PNB MetLife Saral Jeevan Bima Plan

The plan is a standard, simple pure protection term plan that comes with affordable premiums and offers Sum Assured up to INR 50 Lakhs.

Unique Features

  • SA from 5 to 50 L
  • Fixed Term - 5 to 40 Years
  • Premium Payment Options

Saral Jeevan Bima Plan (Pros)

  • Affordable Plan
  • Easy Claim Settlement
  • Flexible-Premium Payment Modes

Saral Jeevan Bima Plan (Cons)

  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

Saral Jeevan Bima Plan (Other Benefits)

  • Spouse Cover
  • Suicide Cover
  • Policy Revival Within 5 Years

Saral Jeevan Bima Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Min Sum Assured - 5L
  • Max Maturity Age - 70 Yrs
  • Premium Payment Term - RP/SP/LP (5 To 10 Yrs)

Specialized Plan

PNB MetLife Family Income Protector Plus

A non-participating life insurance plan that provides guaranteed monthly income with the option to return premiums if no claim occurs.

Unique Features

  • Death Benefit
  • 110% Return 0f Premium Benefit
  • Guaranteed Surrender Benefit

Family Income Protector Plus (Pros)

  • Maturity Benefit
  • Fixed Premium Payments
  • Guaranteed Monthly Income

Family Income Protector Plus (Cons)

  • Limited Investment Component
  • No Policy Loan Allowed
  • No Cash Value or Savings Accumulation

Family Income Protector Plus (Other Benefits)

  • Tax Benefits
  • Max Sum Assured 1.42 Cr
  • Freedom to Customize Benefits

Family Income Protector Plus (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Min Sum Assured - 14.20L
  • Max Maturity Age - 75 Yrs
  • Premium Payment Term - 10/15/20 Yrs

Specialized Plan

PNB MetLife Income Protection Plan

The plan is a flexible life insurance offering a lump sum or monthly income with guaranteed payouts of up to 150% and tax benefits.

Unique Features

  • Death Benefit
  • Guaranteed Surrender Benefit
  • Guaranteed Premium Payout

Income Protector Plan (Pros)

  • Maturity Benefit
  • Loans Are Allowed
  • Additional SA for employees of listed banks

Income Protector Plan (Cons)

  • 1 Yr WP For Suicide
  • Unpaid Policy Lapses
  • Limited Revival Window After Policy Lapse

Income Protector Plan (Other Benefits)

  • Easy Enrollment
  • Flexible Premium Payment Modes
  • Life Cover for the Entire Policy Term

Income Protector Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 55 Years
  • Min Sum Assured - NA
  • Max Maturity Age - 75 Yrs
  • Premium Payment Term - 5 to 20 Yrs

Comprehensive Plan

PNB MetLife POS Suraksha

The plan provides guaranteed monthly income and returns a 100% premium on maturity, ensuring financial security for loved ones.

Unique Features

  • 100% Premium Return
  • Guaranteed Monthly Income
  • Guaranteed Surrender Benefit

POS Suraksha (Pros)

  • Maturity Benefi
  • Death Benefit Options
  • Flexible-Premium Payment

POS Suraksha (Cons)

  • No Suicide Cover
  • 90 Days Waiting Period
  • No Policy Loan Allowed

POS Suraksha (Other Benefits)

  • Surrender Value
  • Level Monthly Income
  • Revival Option

POS Suraksha (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 55 Years
  • Min Sum Assured - 50 K
  • Max Maturity Age - NA
  • Premium Payment Term - 5/10/15 Yrs

Exclusions

Suicide within (12 months of Policy inception).

Death due to an adventurous activity.

Death due to an aviation accident.

Death due to consumption of any in-toxicants.

PNB Metlife Family Income Protector Plus plan: FAQs

1. What is the minimum age limit for the PNB Metlife Family Income Protector Plus plan?

The minimum age limit to get the PNB Metlife Family Income Protector Plus plan is 18 years.

2. What minimum sum can I get for the PNB Metlife Family Income Protector Plus plan?

The Minimum sum assured you can get for the PNB Metlife Family Income Protector Plus plan is 9.10 lakhs.

3. Do I need to undergo a medical examination to purchase the PNB Metlife Family Income Protector Plus plan?

Yes, undergoing a medical examination for any term plan you purchase is compulsory.

4. Is the PNB Metlife Family Income Protector Plus plan good?

Yes, the PNB Metlife Family Income Protector Plus plan is one of the most affordable and trustworthy term plans to protect the future of your loved ones.

PNB Metlife Term Insurance Reviews

Read what our customers have to say about PNB Metlife term insurance company

Customer Review Image

Sahani Kaur

Gandhinagar

April 8, 2024

The PNB MetLife Mera Term Plan Plus I& 039;ve bought it at a low premium, and it is fully satisfactory to me. The insurance expert of PolicyX is too polite, and their online buying facility red...

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Anoop srivastva

Gandhinagar

March 18, 2024

No hidden fees or charges! I have some doubts regarding my PNB MetLife insurance premiums. So I decided to visit policyx.com. Within in couple of minutes, they resolved all of my queries. I am ...

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Piyush

Raipur

May 1, 2023

I seek help from PolicyX when it comes to purchasing any kind of insurance because they provide me with the best quotes and options for insurance

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Sudhir Koul

Delhi

May 26, 2022

Very reliable company. I have bought PNB Metlife insurance, and I believe that this company will help me in my hard times.

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neha singh

Cuttack

February 24, 2022

I am a single mother with 2 kids. I always think about the future of my kids. Thats why i invested in term insurance plan with PNB as their claim settlement ratio is good so i am sure that my m...

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Nimrit

Chandigarh

February 18, 2022

Very satisfied with their team who is always available for help. Never worried about my money with them.

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Ritu Verma

Delhi

February 10, 2022

I heard about this company from my friends and family who are already their customers and it is one of the best decisions as the company offers suitable plans for every need.

Customer Review Image

Sakhu Wati

Kanpur

November 17, 2021

Very reliable company. I have bought PNB Metlife insurance, and I believe that this company will help me in my hard times.

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Varun Saxena

Written By: Varun Saxena

Varun is a passionate content writer with over three years of experience in the insurance domain. An avid learner, he stays ahead of the industry's trends ensuring his writing remains fresh and includes the latest insurance shifts. Through his work, Varun strives to engage with targeted insurance readers.

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