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PNB Metlife Pension Plans – Metlife Retirement Plans Overview, Features and Benefits

August 22, 2016 by policycorner

PNB Metlife Pension Plan helps the Policyholders to secure their future by investing the small amount of money during their Earning days. At the end of the policy, the insured can get the annuity amount for their Golden Years of Retirement.

PNB Metlife Pension Plan Details

PNB Metlife primary motive is to incorporate the social responsibilities such as Community needs and to encourage children education. Metlife Insurance mainly offers the Pension plan to provide Financial Support for all people in their Retirement time. PNB Metlife Pension plan provides specific benefits to spending a peaceful life after retirement with your loved ones. Are you worrying about your Income after retirement then take it as a good time to buy a PNB Metlife Retirement Plan. By investing the small amount of money, you can get a fixed annual Amount throughout the Retirement Years. Therefore, by proper utilisation of PNB Metlife Pension Plan, individuals can have a bright future and can fulfil their dreams.

Need of PNB Metlife Pension Plan

Nowadays, every person is busy in leading their life and not in a situation to look at others lives. In the end, each person wants to be independent and does not need any Financial support from others. For all those individuals, PNB Metlife company is offering the PNB Metlife Pension plan to pay a dignified and independent Future. By using this pension scheme, the policyholder can access all the relevant features. By investing the little amount of money, at the end of the PNB Metlife Pension plan the Life assured can get the annuity amount. Through this sum, the insured can lead the rest of life without any worries.

PNB Metlife Pension Plan Key Features

The following are the key features of the PNB Metlife Pension Plan.

  • Guaranteed monthly income for your Family
  • Discount on higher sum Assured
  • Reasonable Annual Premiums
  • Long Term Savings
  • Life Coverage
  • Financial Protection through Regular Income
  • Part lump sum on maturity
  • Extend Accumulated Savings
  • Single Premium
  • Reasonable charge on premium
  • Loyalty Additions on Sum Assured
  • Option to change Sum Assured

Metlife Retirement Plan Benefits

PNB Metlife Retirement plan offers an enormous number of Benefits for all Policyholders. By using these advantages, the Life assured can lead a peaceful life without any Financial Problems.

Death Benefit:

The Death benefits will apply to the Policy Holders in the case of sudden death. In that case, the nominee will receive the death benefit which will be higher than the following

  • Fund value
  • Sum assured less partial withdrawals
  • 105% of total premiums paid excluding service tax.

Maturity Benefit:

  • The Maturity benefit will be applicable only if the Life Assured can survive till the completion of the policy. Then the total annuity amount is refundable to the Policyholder.

Tax Benefit:

Tax Benefit is also provided under this plan.

PNB Metlife Pension Insurance Plans

PNB Metlife offers various Pension Insurance plans to provide benefits for all Policyholders. The Life Assured can buy any of these insurance policies to build a bright future of their own without depending on others. There are about 9 Pension Plans offered by PNB Metlife Insurance Company.

  • Metlife Money Back Plan
  • PNB Metlife Bachat Yojana
  • Metlife Mera Wealth Plan
  • Metlife Smart Platinum
  • PNB Metlife Easy Super
  • Metlife Monthly Income Plan – 10 pay
  • PNB Metlife Immediate Annuity Plan
  • Metlife Retirement Savings Plan
  • Metlife Dhan Samriddi Plan

PNB Metlife Money Back Plan

MetLife Money Back Plan offers guaranteed money back at regular intervals of time along with protection from unexpected events.

Key Features of Metlife Money Back Plan

  • The Policyholder can receive survival benefits of 10% of Initial Sum Assured from 5th to the 9th policy year.
  • Metlife Money Back Plan will return 110% of Base Sum Assured amount over the entire lifetime of the policy term.
  • The Life Assured will receive full death benefits.
  • The insured will access tax benefits under section 80C and 10(10D).

Benefits

Survival Benefits:

  • The Policyholder will receive survival benefits of 10% of Base Sum Assured from 5th to the 9th policy year.

Eligibility Criteria:

Particulars Boundary Conditions
Premium Payment Term Regular
Min. Age at entry* 13 Years
Max. entry age 55 Years
Max. Age at maturity* 65 Years
Policy Term 10 Years only
Min Sum Assured Rs. 250,000
Max Sum Assured Rs. 5 Crore

PNB Metlife Money Back Plan Brochure

PNB Metlife Bachat Yojana

MetLife Bachat Yojana helps the Policyholder to take life head on and get long term financial objectives through affordable instalment premiums.

Key Features of Metlife Bachat Yojana

  • The Metlife Bachat Yojana allows for Long term savings with affordable premiums.
  • Life Assured can pay only for ten years and get covered for 15 years
  • Bachat Yojana Offers Sum Assured plus and also Bonus.
  • In the case of sudden death of the Policyholder during the policy period of 15 years, the Insured Family will get Sum Assured and some Bonus.

Benefits

Simple Reversionary Bonus & Terminal Bonus:

Bonus payout will be added to your policy from the third year onwards until the end of the policy term. The bonus will be paid out upon death or at the end of the policy term.

Eligibility Criteria:

Particulars Boundary Conditions
Minimum ages at entry* 20 years
Maximum ages at entry* 60 years
Max. Age at maturity* 75 years
Premium Payment Term Options 10 years Limited Pay
Policy Term 15 years
Min. Sum Assured Rs. 64,800
Max. Sum Assured Rs. 5 Lakhs
Min. Premium Annual: Rs. 6,000 Semi-Annual: Rs. 10,000 Monthly/PSP:Rs. 15,000
Max. Premium Rs. 23,999 per Life

Official PNB Metlife Bachat Yojana Brochure

PNB Metlife Mera Wealth Plan

PNB Metlife Wealth Plan is a plan that enables the Policyholder to provides the Financial Support for goals to achieve at each and every stage of Life.

Key Features of PNB Metlife Mera Wealth Plan

  • Wealth plan offers an investment plan that covers the Goals of Life Assured.
  • Provides excellent returns for hard earned savings.
  • Gives rewards for being invested and provides some loyalty additions.
  • Provides life full time Financial coverage to the Insured.

Benefits:

Loyalty Benefits:

The Life Assured will get Loyalty Additions for both premier and online options every year from the end of 6th policy year till maturity.

Eligibility Criteria:

Premium Payment Type Single Pay 5 Pay 10 Pay Regular Pay
Premium Payment
Term (years)
Single premium 5 10 Same as policy term
Minimum Term of the Policy 10 10 11 10
Maximum Policy
Term
20 20 30 30
Minimum Age
at entry (years)*
0 (30 days) 0 (30 days) 0 (30 days) 0 (30 days)
Maximum Age
at entry (years)*
60 54 60 (policy term<=25 years),
55 (policy term>25 years)
60
Minimum age
at maturity (years)*
18 years 18 years 18 years 18 years
Maximum age
at maturity (years)*
80 74 80 80
Minimum Annualized
Premium (Rs) (PREMIER)
100,000 100,000 24,000 24,000
Minimum Annualized
Premium (Rs) (ONLINE)
100,000 30,000 24,000 24,000

PNB Metlife Mera Wealth Plan Brochure

PNB Metlife Smart Platinum Plan

MetLife Smart Platinum is a unit-linked investment plan which helps the policyholder to build investment portfolio by using six different funds. The program covers all financial Support for the Insured till 99 years of age with an option to choose a premium term of 5 years, ten years or whole life.
Metlife Smart Platinum Brochure

PNB Metlife Easy Super Plan

MetLife Easy Super Plan is just like the Metlife Smart Platinum Plan which fulfils the needs of Life Assured through 6 different funds. The policyholder can also opt to Auto Rebalancing Strategy also to access some beneficial features to secure their life after Retirement.

Easy Super Plan Brochure

Monthly Income Plan – 10 Pay

Metlife Monthly Income Plan – 10 pay allows the Insured to pay the premiums for 10 Years. The monthly premiums deposited by the Insured are free from Taxation. Discounts are also provided for Premiums on Yearly (3%)and Half yearly (1.5%) basis.

Metlife Monthly Income Plan – 10 pay

Metlife Immediate Annuity Plan

The Metlife Immediate Annuity Plan provides a comfortable way of living the life after the retirement. This plan also provides the Financial Security in the form of guaranteed income for the rest of the life.
Immediate Annuity Plan Brochure

Retirement Savings Plan

Retirement is a stage where a person completely stops the Employment and is free from the work. In the real sense, retirement means enjoying with your family, grandchildren or your friends, without having to think about work or income. In that period, this Retirement Savings Plan offers a financial support through its features.

PNB Metlife Retirement Savings Plan Brochure

PNB Metlife Dhan Samriddi Plan

Every person works hard to earn money and to secure their future without any Financial Crisis. MetLife Dhan Samriddhi Plan offers various benefits for investing savings along with insurance coverage to earn loyalty additions on maturity to optimise the return investments.

Dhan Samriddi Plan Brochure

PNB Metlife Pension Plan Premium Calculator

You can calculate the Minimum Premium to be Paid to adopt the Policy by Using the PNB Metlife Pension Plan Premium Calculator. The Premium Amount to be paid will always depend on the Sum Assured, Policy Terms and conditions, Premium Payment Options and Policyholder Age. To calculate the Premium Value, you need to enter Some Basic personal details such as Name of the Insured, E-mail Id, Mobile Number, Age, Policy Term, and Minimum Sum Assured.

PNB Metlife Pension Plans Buying Process

PNB Metlife Pension Plans are available at the Nearest Metlife Insurance Branch Office, or you can buy from the Agent of PNB MetLife Insurance Company. The Proposal Forms are also available at the PNB Metlife Official website. The individuals can directly download them from the homepage. Some PNB Metlife Pension Plans can also be bought through online at Metlife Official page. The Documents required for buying PNB Metlife Pension Plans are listed below.

  • Application form / Proposal form with the proper photo.
  • Address Proof for validation.
  • Age Proof.
  • Medical Reports (if Mandatory).

PNB Metlife Pension Plan Claim Process

The Policyholder / Nominee can apply for the Claim in the case of Sudden Death or Disability Occurred due to the Sudden Accident of the Policyholder within the Policy Term or if your Policy Maturity Period completed. The respective individual can apply for Claim process through online at the PNB Metlife official website, i.e., www.pnbmetlife.com or through the alternative modes such as at Branch Office, Helpline Number, Mail Id services. The Documents required in PNB MetlifeLife Claim Process are

  • Original Policy Document.
  • Death Certificate Original from Municipal / Local Authorities.
  • Claimant’s Statement and Claim Forms.
  • Hospital Records including Discharge Summary.
  • NEFT Form.
  • Date of Birth Proof.
  • Address Proof of Nominee.
  • A copy of Pass Book.
  • Additional documents, in the case of death, occurred due to unnatural or accidental death.

Additional Details about PNB Metlife Pension Plans

Surrender Value:

The Policyholder can Surrender his PNB Metlife Pension Plan before the Maturity within three years of the policy period. Otherwise, the Insured have to wait for a period of five years.

Free Look Period: 

If the Policy Holder does not satisfied with the Terms and Conditions of the Policy, then the Policyholder can raise the objections about the PNB Metlife Pension Plan within 15 Days from the date of receipt of the Policy Document.

Grace Period: The Grace Period of one month but not less than 30 days will be allowed for yearly, half-yearly, quarterly modes and 15 days for the Monthly Mode of Premium Payment. Grace Period is a Term when you can Pay the Due Premiums to Continue your Policy.

Filed Under: PNB MetLife

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