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PNB MetLife Investment Plans

You don’t and will never know when death will come knocking at your door. And when it does, what happens to the people you leave behind? You wouldn't want to leave this world without making sure that your loved ones are financially independent, would you? This is where life insurance can come to your help. An insurance plan is a cushion for your family in times of need.

One such firm which offers great life insurance plans is PNB MetLife, a venture between MetLife International Holdings and Punjab National Bank, also comprising of other important stakeholders such as Jammu and Kashmir Bank and M. Pallonji and Company Limited. With it’s abundant experience, knowledge and proficiency, PNB MetLife has carefully created a range of insurance plans for you to choose from. Its variety of products ensures that one can definitely find a plan most suitable to his/her vision of the future.

Types of Investment Plans offered by PNB MetLife

PNB MetLife provides a vast range of diverse investment plans for you to choose from. Make sure to research thoroughly before you dive in. The plan you choose must tick every box on your checklist.

PNB MetLife Endowment Savings Plan Plus

Product Benefits

  • Maturity Benefit: The maturity benefit payable will be a total of sum assured on maturity, accrued simple reversionary bonuses, and terminal bonus.

  • Waiver of premium on Critical Illnesses Benefit (WoP on CI): If you select the “Savings Plus” option, all future premiums that you would otherwise be required to pay under the base policy shall be waived off for the remainder of the premium payment term if you are diagnosed with any of the 35 critical illnesses.

  • Simple Reversionary Bonus & Terminal Bonus: Your policy gets bonus added to it from the first year. This is payable either at maturity or death or surrender; whichever is earlier.

  • Death Benefit: The nominee will receive Sum Assured on Death along with the accrued Simple Reversionary Bonuses plus Terminal Bonus (if any), subject to 105% of all premiums paid as on date of death, after which, the Policy shall terminate. Here, the sum assured is the highest of:

  • 10 times the annualised return.
  • Sum Assured on Maturity: the absolute amount of benefit guaranteed to be paid on maturity.
  • Basic Sum Assured (BSA): the absolute amount assured to be paid upon death of the insured.

Eligibility Details

ParticularsSavingsSavings Plus
Minimum Age at Entry818
Maximum Age at Entry
  • 55 – Annual, Regular Pay
  • 50 – Other Modes, Regular Pay
  • 60 – Annual, Limiter Pay
  • 55 – Other Modes, Limiter Pay
  • 50 – Annual, Regular Pay
  • 45 – Other Modes, Regular Pay
  • 55 – Annual, Limiter Pay
  • 50 – Other Modes, Limiter Pay
Age at Maturity80
  • 65 – Regular Pay
  • 80 – Limiter Pay
Premium Paying Term
  • Regular pay: Same as policy term
  • Limited pay: 5, 7 & 10 years
Policy Term10 – 25 years
Minimum Annual Premium
  • 5 Pay - Rs. 48,000
  • 7 Pay - Rs. 34,000
  • 10 Pay - Rs. 24,000
  • Regular pay - Rs. 18,000
Minimum Sum AssuredRs. 2,20,000

How the Plan Works

This endowment life insurance plan helps accumulate your savings for your financial needs at every stage of life, whether you need money for your home loan or need to pay for your child’s wedding. There are two variations of this plan – savings and savings Plus. At the end of every policy year, simple reversionary bonuses get accrued and form part of the total benefit to the insured at maturity along with the basic sum assured and terminal bonus.

MetLife Mera Wealth Plan

Product Benefits

  • Variety – You may choose between several options of premium payment years (Single Pay, 5 Pay, 10 Pay or Regular). There are also two types of plan options available – Online and Premier.
  • Loyalty Addition – Starting from the 6th policy year onwards, you will be awarded Loyalty Additions if your premiums till date have been paid.
  • Maturity Benefit – Upon survival of the person assured till the end of the policy term, the entire fund value can be paid.
  • Death Benefit - The death benefit is the higher of the following:
                    Fund value.
                    Sum assured minus partial withdrawals.
                    105% of the total premiums paid.
    

Eligibility Details

Premium Payment TypeSingle Pay5 Pay10 PayRegular Pay
Minimum Age at entry (years)* 0 (30 days)0 (30 days)0 (30 days)0 (30 days)
Maximum Age at entry (years)* 605460 (policy term<=25 years), 55 (policy term>25 years) 60
Minimum age at maturity (years)* 18 years18 years18 years18 years
Maximum age at maturity (years)* 80748080
Minimum Annualized Premium (Rs) (PREMIER) 1,00,000100,00024,00024,000
Minimum Annualized Premium (Rs) (ONLINE) 1,00,00030,00024,00024,000

How Plan works

It works just like any other life insurance plan where you receive a maturity benefit at the end of the policy as a lump sum or a strategic pay out through settlement options. In the case of the unfortunate death of the life assured, the nominee shall receive the death benefit.

PNB MetLife Guaranteed Income Plan

Product Benefits

  • Guaranteed Income Benefit – Receive annual income between 11% to 13% of Basic Sum Assured (BSA), based on your Premium Payment Term.
  • Variety – Choose a range of different premium payment term ranging from 5, 7, 10 or 12 years.
  • Survival Benefit - Receive 30% to 55% of Basic Sum Assured (BSA) on Maturity, based on your Policy Term.
  • Death Benefit – Sum Assured is payable on death which is the highest of:
    1. Annualised premium X multiple of annual premium.
    2. 105% of all premiums paid till date of death.
    3. Basic sum assured.
    4. Sum assured on maturity.

Eligibility Details

ParticularsPremium Payment TypePolicy TermAge (Years)
Minimum Age at entry5 Pay108
Minimum Age at entry5 Pay153
Minimum Age at entry7 Pay153
Minimum Age at entry10 Pay203
Minimum Age at entry12 Pay203
Maximum age at maturity5 Pay1070
Maximum age at maturity5 Pay1575
Maximum age at maturity7 Pay1575
Maximum age at maturity10 Pay2080
Maximum age at maturity12 Pay2080

How does this Plan Work?

You earn guaranteed income benefit at various stages in your life and a maturity benefit on survival till the end of the term. PNB MetLife Guaranteed Income Plan is a non-linked, non-participating endowment policy that offers you a guaranteed income plan to avoid any financial obstacles in life. A lump sum benefit can also be availed to tackle any big financial requirements you might face in the future.

PNB MetLife Guaranteed Savings Plan

Product Benefits

  • Maturity Benefit – Upon maturity, the benefit would be a sum of Sum Assured on Maturity Plus and Accrued Guaranteed Additions
  • Death Benefit** – Sum Assured is payable on death which is the highest of:

    1. Annualised premium X multiple of annual premium.
    2. 105% of total premiums paid till date of death.
    3. Basic sum assured.
    4. Sum assured on maturity.
  • Guaranteed Additions – These are added at the end of each policy year during the premium payment term. Guaranteed Additions is a percentage of cumulative premiums viz. 5 Pay – 5% | 7 Pay – 7% | 10 Pay – 10%

Eligibility Details

Particulars5 Pay7Pay10 Pay
Minimum Age at entry(years)833
Maximum Age at entry (years)606060
Maximum age at maturity (years)707580

How does this Plan work?

PNB MetLife Guaranteed Savings Plan is a guaranteed savings insurance plan that provides lump sum benefit on maturity along with guaranteed additions on cumulative premiums. This investment option allows you to create a corpus to achieve any goals you have set in your life in terms of finance.

PNB MetLife Whole Life Wealth Plan

Product Benefits

  • Variety – There are two options for you to choose from. Wealth Option – This provides a whole life cover. Wealth + Care Option – Additional health protection through Care Benefit – Upon diagnosis of any of the five illnesses, all future premiums that would otherwise have to be paid shall be waived off for the remainder of the premium payment term.
  • Fund Boosters – These are allocated to your policy at the end of the 10th and the 15th policy year, provided your policy is in force and all premiums have been paid till date.
  • Maturity Benefit - Maturity benefit is paid after which the policy will automatically terminate.
  • Death Benefit – Highest of Sum Assured or Fund Value or 105% of the Instalment Premiums received,

Eligibility Details

ParticularsMinimumMaximum
Age at entry (Years)Wealth Option: 0 (30 days) Wealth + Care Option: 18 65
Maturity age(Years)9999
Policy term (Years)99 – age at entry99 – age at entry
Premium Paying Term (PPT) (Years)For age < 45 : 10 For age >= 45 : 8 Wealth Option: 25 Wealth + Care Option: 25, Subject to age of life assured not exceeding 75 years at the end of PPT
Premium Payment ModesAnnual, Half Yearly and Monthly-

How does this Plan work?

The Wealth Option works like a normal whole life cover where you are required to pay premiums over the premium payment term and your wealth keeps accumulating. However, in the Wealth + Care Option, if you, unfortunately are diagnosed with any of the 5 illnesses mentioned in the policy document, all future payments are paid by the company.

PNB MetLife Money Back Plan

Product Benefits

  • Survival Benefits: You will receive 10% of the chosen sum assured as survival benefit from 5th policy year to 9th policy year.
  • Maturity Benefit: In case of your survival till maturity, you will get 60% of sum assured at the end of the policy term. i.e. return of 110% of Base Sum Assured amount over the lifetime of the policy term.
  • Death Benefit: Sum assured is payable on death which is the highest of:
    1. 10 times annualised premium.
    2. 105% of total premiums paid till date of death.
    3. Basic sum assured.

Eligibility Details

ParticularsBoundary Conditions
Minimum Age at entry13 Years
Maximum Age at entry55 Years
Maximum age at maturity65 Years
Policy term10 years
Premium payment term Regular
Min Sum AssuredRs. 250,000
Max Sum AssuredRs. 5 Crore

How does this Plan work?

This investment option is a systematic savings plan through which PNB MetLife offers a guaranteed money back with pay outs at regular intervals to you.

PNB MetLife Bachat Yojana

Product Benefits

  • Simple Reversionary Bonus & Terminal Bonus: A bonus pay out will be added to your policy from the third year till the end of the policy term which will eventually be paid out upon death or at the end of the policy term.
  • Maturity Benefit: You will receive the Base Sum Assured plus the bonus upon maturity.
  • Death Benefit: The death sum assured will be provided to the nominee upon the death of the insured person.

Eligibility Details

ParticularsBoundary Conditions
Minimum Age at entry20 Years
Maximum Age at entry60 Years
Maximum age at maturity75 Years
Premium Payment Term10 years Limited Pay
Policy Term15 years
Min. Sum AssuredRs. 64,800
Max. Sum AssuredRs. 5 Lakhs
Min. PremiumAnnual:Rs. 6,000 | Semi-Annual:Rs. 10,000 | Monthly/PSP:Rs. 15,000
Max. PremiumRs. 23,999 per Life

How does this Plan work?

PNB MetLife Bachat Yojana is a long-term savings plan which allows you to address your long term financial needs through affordable premiums and offers you a sum assured plus any bonus that has gotten added to your policy from the third year onwards.

How to Apply for PNB MetLife Investment Plans

Keeping your convenience in mind, there are several ways in which you may apply for PNB MetLife Investment Plans. But, before you decide to buy the plan, make sure that the plan you select checks off every item in your checklist. Do not settle for anything less as you would be investing your hard-earned money in it. Go through every feature of the insurance policy and understand it thoroughly. You may even consult an advisor for more information.

First and foremost, go to the company's website directly. The company allows you to apply online through its official website. It is an extremely easy process. All you have to do is log onto the website, choose the most suitable plan that fulfils your requirements, select the coverage, and fill out all your details. These are basic details you need to provide such as name, date of birth, phone number, address, etc.

The next thing is to check the premium which is calculated automatically. Once you approve of the amount of premium, you may go ahead and make the payment through the following modes:

  • Online – debit card, credit card, net transfer
  • Cash or cheque deposit at the branch office
  • Through courier
  • Through drop box

And, that is it! Your policy will be issued. Another popular way is to get your policy made through agents, brokers, banks etc. They provide you with all the assistance you may require with respect to the application process.

There are also a few other websites such as Policy Bazaar which allow you to apply through their website. You will be required to fill in a few personal details before you are directed to the insurer’s website as a final step to the process. You will need to provide a few documents to complete the process. These following are the documents required for the PNB Metlife policy application:

  • ID proof of the policyholder
  • ID proof of the nominee
  • Address proof
  • Income proofs and bank statements
  • Filled up application form
  • Other documents as requested by the bank
  • PAN number
  • Age proof

FAQs on PNB MetLife Investment Plans

Why should you choose PNB MetLife Investment Plans?

PNB MetLife offers you the expertise of MetLife Inc., a leading global life insurance company, and the integrity of Punjab National Bank, one of India's oldest and leading nationalised banks. Together, they have an enormous distribution reach coupled with global insurance knowledge and product range makes them a reliable name in the insurance market of India.

Which is the best Investment Plan of PNB MetLife Investment Plans 2018?

Truth be told, the best investment plan for you may not be the best option for somebody else. Thus, it all depends on what your financial objective is. You must choose an investment plan that best aligns with your goals and your vision of what your future should look like.

Which is the best PNB MetLife Investment Plans for long term?

All the plans mentioned above are great options for a long-term investment plan, but the PNB MetLife Bachat Yojana can definitely help you meet your long term financial goals.

Why should I buy PNB MetLife Investment Plans?

There are a number of reasons you should buy an investment plan from PNB MetLife including their reputed brand value, diversity of products, and of course, the quality of services they provide. Not to mention, the firm as a really high claim settlement ratio.

How to pay premium? What are the modes of payment available?

You can pay your premium online by dropping off cash or a cheque at the office, by courier, or even through a drop box.

How can I check policy status for PNB MetLife Investment Plans?

Your policy status can be checked by accessing your account using the login ID and password. The e-portal will provide all the details regarding your policy including the status.