PNB MetLife has launched PNB MetLife Guaranteed Goal Plan, a savings-oriented life insurance plan that offers guaranteed returns and allows customization of savings schedules.
PNB MetLife Guaranteed Goal Plan allows customer the flexibility to choose a duration of premium payment from a single premium all the way up to 12 years, according to its press release.
Customers can also go for a guaranteed lump sum payout on maturity or a structure that pays a guaranteed income after completion of the premium payment term and a lump sum amount at maturity. This new offering also comes with built-in life insurance cover till maturity, waiver of premium on death or diagnosis of critical illness and the option of accidental death and critical illness coverage: range of choices to safeguard the wellbeing of loved ones against uncertainties, as per the press release.
Ashish Kumar Srivastava, MD & CEO, PNB MetLife, said, “The customer’s perception of insurance has seen a shift in the current circumstances; they are now well-informed and require distinct solutions to fit their diverse needs. With the introduction of this plan, we endeavour to provide customers with an easy solution that enables savings while at the same time providing protection, helping our customers to protect and provide financial support to dream bold.”
Key highlights of the plan:
Lumpsum Option: Guaranteed maturity benefit will be payable at the maturity date.
Income + Lumpsum Option: Guaranteed survival benefit will be payable every year post the completion of the premium payment term along with a guaranteed maturity benefit on the maturity date.
Pay as you like: Choose to pay for 5, 7, 10 or 12 years for either of the plan options or choose a single premium with the lump sum option and the option of Joint Life available under the single premium payment option only.
Additional benefits to boost your corpus: 1) Guaranteed addition of 5% of Total Annualized premium paid till date gets accrued every year during premium payment term.
2) Wealth Additions ranging from 3.2% to 9% of Total Annualized Premium paid till date get accrued or paid every year after premium payment term1
3) Higher Benefits for higher premium payment
Protection: Safeguard against uncertainties – 1) Get life cover for the entire policy term.
2) Get a Waiver of premium on death or diagnosis of critical illness with Family Care and Health Care options and option to enhance your protection through Accidental Death and Serious Illness rider coverage.
The PNB MetLife Guaranteed Goal Plan is a new addition to PNB MetLife’s unique insurance bouquet, resulting in a holistic life insurance solution for customers to invest in.
A person aged 40 years investing ₹1 lakh in income lumpsum option for a premium payment term of 12 years, will start receiving a guaranteed survival benefit payout of Rs1,61,938 from the end of the 13th policy year till the end of the policy term along with a lumpsum payout of Rs. 2,50,840 at maturity. The benefits in this plan are tax-free subject to provisions and conditions of the Income Tax Act, 1961, as per the press release.