PNB MetLife Term Insurance
PNB MetLife Family Income Protector Plus is a unique term insurance pl ...Read More
A quick read on what this PNB MetLife Term Insurance term plan covers and why it might be a fit for you.
A term plan that provides a 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 mishap occurs to you? Such a scenario can strip your family of financial aid.
To ensure your family's income continues even after your demise, PNB MetLife Term Insurance has introduced the 'Family Income Protector Plus' plan. This unique non-linked term insurance plan protects your family from future uncertainties by providing a regular monthly income for up to 20 years. Additionally, if you outlive the policy term, the premiums paid will be returned to you.
The PNB MetLife Family Income Protector Plus plan offers a range of benefits, including:
A quick honest summary — the strengths and the trade-offs.
Walkthroughs from the PolicyX team — pros, cons, real claim experiences and who should buy.
PNB Metlife term plan is a great option to cover your family. Choose amongst the four riders for an added net of safety with a sum assured that goes up to 1 crore.
Eligibility criteria pulled straight from the policy wording.
Let's understand how the PNB MetLife Family Income Protector Plus works with a simple premium illustration.
Mr. Sharma, aged 30 years, wants a term insurance plan that provides regular monthly income to his family in case of an unfortunate event.
He visited PolicyX.com to understand suitable term insurance options. After analyzing his needs, advisors suggested the PNB MetLife Family Income Protector Plus Plan.
Let us see a brief illustration of the PNB MetLife Family Income Protector Plus Plan.
| Age | Policy Term | Monthly Income Chosen | Family Income Payout Period |
| 30 years | 10 years | ₹50,000 per month | 20 years |
Key Takeaway: If Mr. Sharma passes away during the 10-year policy term, his family will receive ₹50,000 every month for the next 20 years.
Key features that make PNB Metlife Family Income Protector Plus stand out.
Plan Options
You must choose between "Term Cover" or "Term with Return of Premiums (TROP)" at the time of purchase; this choice cannot be changed later.
Flexible Premium Payment Options
Premiums can be paid Yearly, Half-Yearly, Monthly (via ECS), or through a Payroll Savings Program.
Grace Period
A grace period of 30 days is allowed for yearly/half-yearly premium payment modes, and 15 days for monthly modes, to pay overdue premiums and keep the policy active.
Surrender Benefit
This benefit is available only under the TROP option after paying premiums for at least two years. The surrender value paid will be whichever is higher between the Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV).
Reduced Paid-Up Value
If premiums stop after paying for at least two years under the TROP option, the policy continues with lower death cover and reduced monthly income benefits.
Here are the key benefits of the PNB Metlife Family Income Protector Plus.
Please refer to the official brochure or contact PolicyX for the list of required documents.Here is a list of exclusions associated with the plan:
PNB MetLife presents one of the most unique term insurance plans that helps your family financially in your absence by providing a regular monthly income. It offers comprehensive protection and financial security for your loved ones.
The 7 most-asked questions about PNB Metlife Family Income Protector Plus, answered.
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
Select a company and plan for each side to see a detailed side-by-side comparison.
Rated by 924 customers
Select Your Rating
Let us know about your experience or any feedback that might help us serve you better in future.
Do you have any thoughts you'd like to share?
5-min consultation · No spam · No pushy sales
ChatGPT
Claude
Perplexity