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Pnb Metlife Savings Plans

Saving for the future is something most of us have in mind. The current market conditions offer a number of saving instruments, but those looking for enhanced savings plus protection can opt for savings insurance plans. Not only do these offer decent returns on maturity, but also protect the financial interests of the investor’s family. One can choose the period for which they wish to be protected under these plans.

PNB MetLife offers a host of savings plans, with each meeting specific requirements. These are ideal for those looking to save money for a rainy day, with the benefits offered by the plans making them worth the investment.

Benefits of PNB MetLife Savings Plans

Some of the benefits of Savings Plans offered by PNB MetLife include:

  • Tax savings – Individuals can save money on tax when they pay their premiums. This money can be used to further enhance their savings corpus.
  • Multiple options – One can choose a plan which meets their future requirements, with 7 plans on offer.
  • Flexibility – One can choose the premium amount and frequency of payments, based on their current financial situation.
  • Loans* – Individuals can avail loans against their policy, helping them handle any financial emergency.
  • Rebates – One can save on the premium amount if they opt for high sum assured. The company provides rebates on the premium in such cases.

*Depends on the policy an individual has opted for. Could change from policy to policy.

Types of Savings Plans offered by PNB MetLife

PNB MetLife currently offers 7 savings plans, as listed below:

MetLife Money Back Plan:

As the name implies, this plan provides assured money back to policyholders. This is a 10 year, non-linked scheme under which the policyholder receives money after the sixth year. It offers survival benefits wherein 10% of the sum assured is paid for five years. Additionally, on maturity, 60% of the sum assured is paid to the individual. In the event of unfortunate demise of policyholder while the plan is active, a death benefit is paid to the nominee.

Plan Name Entry Age Maturity Age Premium
MetLife Money Back Plan Minimum: 13 years Maximum: 55 years Maximum: 65 years Minimum: Rs.23,119 Maximum: Rs.51,63,875

MetLife Bachat Yojana:

This is a deferred endowment scheme which is not linked to any market performance. Policyholders are eligible to earn a Simple Reversionary Bonus under this scheme. It is ideal for those looking to build a savings portfolio with low investments. The plan offers a maturity benefit on completion of policy term. In the event of demise of policyholder before the term, a death benefit is offered to the nominee.

Plan Name Entry Age Maturity Age Premium
MetLife Bachat Yojana Minimum: 20 years Maximum: 60 years Maximum: 75 years Minimum:
  • Annual – Rs.6,000 per year
  • Semi-annual – Rs.10,000 per year
  • Monthly/PSP –Rs.15,000 per year
Maximum: Rs.23,999 per year

MetLife Guaranteed Savings Plan:

This is a non-linked, non-participating life insurance scheme which provides a guaranteed sum assured once the policy matures. In the event of demise of policyholder while the policy is active, a death benefit is provided to the nominee. The plan also earns assured additions every year. It comes with three premium payment options, 5 pay, 7 pay, and 10 pay.

Plan Name Entry Age Maturity Age Premium
MetLife Guaranteed Savings Plan Minimum:
  • 3 years for 7 and 10 pay plans
  • 8 years for 5 pay plan
Maximum: 60 years
Maximum:
  • 70 years for 5 pay plan
  • 75 years for 7 pay plan
  • 80 years for 10 pay plan
Minimum:
  • 5 pay – Rs.46,480 per year
  • 7 pay – Rs.21,068 per year
  • 10 pay – Rs.14,178 per year

MetLife Guaranteed Income Plan:

As the name suggests, this plan provides a guaranteed source of regular income to policyholders. One can choose between three premium payment terms, 5, 7, or 10 years, with the scheme offering a survival benefit after the policy term. A death benefit is provided to the nominee if the policyholder passes away while the policy is in force.

Plan Name Entry Age Maturity Age Premium
MetLife Guaranteed Income Plan Minimum:
  • 3 years for 7 and 10 pay plans
  • 8 years for 5 pay plan
Maximum: 60 years
Maximum:
  • 70 years for 5 pay plan
  • 75 years for 7 pay plan
  • 80 years for 10 pay plan
Minimum:
  • 5 pay – Rs.52,900 per year
  • 7 pay – Rs.23,864 per year
  • 10 pay – Rs.16,666 per year

MetLife Endowment Savings Plan:

This is a scheme which provides one the flexibility to plan for their future. It offers a death benefit which is the highest of the base sum assured, 105% of total premiums paid, or 10 times the yearly premium. Policyholders are also eligible to earn terminal and simple reversionary bonus, with the scheme providing a maturity benefit after the policy matures.

Plan Name Entry Age Maturity Age Premium
MetLife Endowment Savings Plan Minimum: 20 years Maximum:
  • 54 years for Limited Pay of 5 years
  • 60 years for all other modes
Maximum: 75 years Regular Pay
  • Yearly – Rs.15,000
  • Half-yearly – Rs.12,000
  • Quarterly – Rs.6,000
  • Monthly – Rs.2,500
Limited Pay 10 years
  • Yearly – Rs.24,000
  • Half-yearly – Rs.12,000
  • Quarterly – Rs.6,000
  • Monthly – Rs.2,500
Limited Pay 5 years
  • Yearly – Rs.30,000
  • Half-yearly – Rs.15,000
  • Quarterly – Rs.7,500
  • Monthly – Rs.5,000

PNB MetLife Endowment Savings Plan Plus:

This plan provides two options to individuals, Savings and Savings Plus. Policyholders are entitled to a maturity benefit which consists of the sum assured plus all bonuses. In addition, the Savings Plus scheme comes with a waiver of premium if the policyholder is diagnosed with a critical illness. A death benefit is offered to the nominee if the policyholder passes away while the plan is in force.

Plan Name Entry Age Maturity Age Premium
PNB MetLife Endowment Savings Plan Plus Minimum:
  • Savings Plan – 8 years
  • Savings Plus Plan – 18 years
Maximum:
  • Savings Plan
  • 55 years for Regular Pay option (annual payment)
  • 50 years for other payment modes under Regular Pay
  • 60 years for Limited Pay mode (annual payment)
  • 55 years for other modes under Limited Pay
  • Savings Plus
  • 50 years for Regular Pay (annual payment)
  • 45 years for all other modes of payment under regular Pay
  • 55 years for Limited Pay mode (annual payment)
  • 50 years for other modes under Limited Pay
Maximum:
  • Savings Plan – 80 years
  • Savings Plus
  • 65 years for Regular Pay
  • 80 years for Limited Pay
Minimum:
  • 5 Pay – Rs.48,000 per year
  • 7 Pay – Rs.34,000 per year
  • 10 Pay – Rs.24,000 per year
  • Regular Pay – Rs.18,000 per year

MetLife Bhavishya Plus:

This scheme is ideal for those looking to secure the future of their loved ones. It provides a waiver of premium in the event of demise of policyholder. The policy also earns a bonus, with a survival benefit and maturity benefit provided under it.

Plan Name Entry Age Maturity Age Premium
MetLife Bhavishya Plus Minimum: 20 years Maximum: 45 years Maximum: 69 years Minimum:
  • Yearly – Rs.8,000
  • Half-yearly – Rs.10,000 per year
  • Monthly – Rs.15,000 per year
Maximum: Rs.17,999 per year

Why do you need PNB MetLife Savings Plans?

PNB MetLife Savings Plans take into account any contingency which could arise during the lifetime of an individual, helping him/her be prepared to tackle it. Not only do they offer generous returns on investment, but also guarantee the peace of mind of a policyholder. The company has a high grievances solved ratio of 99.55 % for the year 2015-2016, highlighting its commitment towards policyholders, making these plans even more attractive.