PNB MetLife Genius Plan

The PNB MetLife Genius Plan is a life insurance plan designed to secure your child's educational and future financial needs. With customizable premium payment terms, built-in bonuses, and a range of policy benefits, the Genius Plan is tailored to meet your family's evolving needs.

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Investing in your child's future:A wise decision & a loving choice
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Invest ₹10k/month your child will get ₹1 Cr Tax Free*

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What is the PNB MetLife Genius Plan?

PNB MetLife Genius Plan is an individual, non-linked, non-participating child education savings plan with life insurance benefits offered by PNB MetLife. The returns are not linked to the market performance and are fixed by the insurer.

This investment plan is designed to help parents save for their child's future education while providing life insurance coverage. The PNB MetLife Genius Plan allows you to choose from two plan options depending on who the life assured is.

Plan Options under PNB MetLife Genius Plan

The two plan choices offered under this best investment option offered by PNB MetLife Insurance cater to different needs:

  1. Future Secure Option:

    • The parent is both the Policyholder and the Life Assured.

    • If the parent (Life Assured) passes away during the policy term:

      • All future premium payments are waived.

      • A death benefit is paid immediately, as outlined in the policy.

      • Scheduled income benefits continue to be paid out on time.

  2. Child Secure Option:

    • The child is the Life Assured, and the parent, grandparent, or legal guardian is the Policyholder.

    • If the child (Life Assured) passes away during the policy term:

      • The sum assured on death is paid immediately, and the policy ends.

    • If the Policyholder passes away during the policy term (while the child is still alive):

      • All future premium payments are waived.

      • Scheduled income benefits continue to be paid out on time.

People also read: PNB MetLife Child Plan

Features of PNB MetLife Genius Plan

  • Guaranteed Benefits: Enjoy the peace of mind that comes with knowing your child's future is secured through guaranteed financial benefits.

  • Flexible Savings for Key Milestones: Save for your child's significant life events, whether it's their primary or higher education, marriage, or a combination of these, all within a single plan.

  • Assured Goal Achievement with Waiver of Premium on Death: Ensure your child's goals are met even if you are no longer around. With our built-in waiver of premium on death, the benefits continue without interruption.

  • Protection Against Accidental Total Permanent Disability: Gain additional coverage in case of accidental total permanent disability by opting for the Waiver of Premium (WOP) on ATPD benefit.

  • Boost Your Wealth with Incremental Income: Experience increasing income benefits with "Wealth Booster" additions, which grow at a rate of 5% every five years.

  • Extra Benefits for Girls with Dhanlakshmi: Get a higher income benefit for your girl child under the Child Secure Option with the Dhanlakshmi benefit.

  • Special Perks for PNB MetLife Customers: Existing customers of PNB MetLife Insurance Company Limited can enjoy additional benefits as part of this plan.

Investment Investment
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₹10,000/Month
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₹1 Crore*
*Standard T & C Apply

Eligibility Criteria for PNB MetLife Genius Plan

Eligibility Criteria Details
Entry Age Plan Option Future Secure Option Child Secure Option
Policyholder 5-Year PPT: 18 – 55 years;
7 & 10- Year PPT: 18 – 60 years.
5-Year PPT: 18 – 55 years;
7 & 10- Year PPT: 18 – 60 years.
Life Assured 5-Year PPT: 18 – 55 years;
7 & 10- Year PPT: 18 – 60 years.
5-Year PPT: 0 – 55 years;
7 & 10- Year PPT: 0 – 60 years.
Maximum Maturity Age Policyholder -- 80 years
Life Assured 80 years 50 years
Premium Payment Term (PPT) 5/ 7/ 10 years
Policy Term (PT) 5-Year PPT: 10 – 25 years;
7-Year PPT: 12 – 25 years;
10-Year PPT: 15 – 25 years.
Premium Payment Mode Yearly/ Half-yearly/ Quarterly/ Monthly
Minimum Premium Payment  5-Year PPT: Rs. 24,000 per annum; OR
7 & 10 – Year PPT: Rs. 12,000 per annum.
Minimum Sum Assured 5-Year PPT: Rs. 2,40,000 per annum; OR
7 & 10 – Year PPT: Rs. 1,20,000 per annum.
Rider Options PNB MetLife Accidental Death Benefit Rider Plus;
PNB MetLife Serious Illness Rider

People also read: Child Education Plan

Benefits of PNB MetLife Genius Plan

The key benefits offered by the PNB MetLife Genius Plan are listed below.

  • Plan Options: Choose between the Future Secure Option for comprehensive life cover or the Child Secure Option for tailored child benefits.

  • Income Benefit: Receive payouts as a lump sum or as regular income over a term of up to 20 years.

  • Flexible Terms: Select different premium payment terms and policy durations to suit your requirements.

  • Guaranteed Additions: Earn 15% of the total annualized premiums paid, accrued annually, during the premium payment term.

  • Premium Waiver: Future premium payments are waived if the Policyholder dies or becomes totally and permanently disabled (ATPD).

  • Protection Continues: Income benefits remain payable during the Income Payout Period, even after the Policyholder's death (Future Secure Option).

  • Customizable Payouts: Align income benefit payouts with special dates like birthdays or anniversaries.

  • Accumulation Option: Accumulate income benefits at a preset interest rate and make withdrawals as needed.

  • Dhanlakshmi Benefit: A 1.5% increase in the Guaranteed Income Factor if the life assured is a female under the Child Secure Option.

  • Existing Policyholder Benefit: An additional 1.5% increase in the Guaranteed Income Factor for those with other policies from the same company.

  • Optional Riders: Enhance protection with Accidental Death or Serious Illness coverage.

  • Loan Benefit: You can borrow money using your policy once it has a Surrender Value. The maximum loan amount is 80% of your policy's Surrender Value at the end of the policy year.

  • Tax Benefits: Avail of tax advantages on premiums paid and benefits received under Section 80C and 10(10D), based on current tax laws.

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Invest ₹10K/Month YOU GET ₹1 Crores* For Your Child View Plans
Invest ₹8K/Month YOU GET ₹80 Lakhs* For Your Child View Plans
Invest ₹5K/Month YOU GET ₹50 Lakhs* For Your Child View Plans
Standard T&C Apply *

Rider Options in PNB MetLife Genius Plan

PNB MetLife Genius Plan allows riders to enhance their basic policy coverage. These riders provide additional financial protection in case of unforeseen events. Here is what you need to know about rider options for the PNB Genius Plan:

  1. PNB MetLife Accidental Death Benefit Rider Plus: 

    This is an additional coverage option that provides extra protection to your insurance policy. If the person insured under this policy dies due to an accident, this rider will offer an additional death benefit on top of the standard coverage provided by the main policy.

  2. PNB MetLife Serious Illness Rider: 

    This add-on coverage option provides additional benefits if the person insured under the policy is diagnosed with a critical illness. The list of covered illnesses is specified in the rider document. This extra protection is in addition to the standard death benefit provided by the main policy.

NOTE: You can choose these riders either at the policy's inception or during any policy anniversary while the premium payment term is ongoing.

People also read: Child Investment Plans

Policy Details for PNB MetLife Genius Plan

  1. Grace Period for Premiums

    • The time after the premium due date is when you can pay without penalties or loss of coverage.

    • It is 15 days for monthly premiums and 30 days for other payment schedules. 

    • The policy remains active with risk coverage during this period. 

    • Your policy lapses after the grace period is over, which stops all benefits. 

  2. Revival of Lapsed Policy

    • You can revive a lapsed or paid-up policy within five years from the first unpaid premium's due date before policy maturity.

    • You need to pay all outstanding premiums with interest (commonly 8.0% compounded annually).

  3. Surrender and Paid-Up Policies

    • You get guaranteed surrender value after paying all premiums for at least two consecutive years.

    • If surrendered, the policy ends after paying out the surrender value.

    • If the policy has a non-zero surrender value and you stop paying premiums, it becomes a reduced paid-up policy with lower benefits.

  4. Free Look Period

    • The free look-up period is 15 days for regular policies and 30 days for electronic or distance-sold policies.

    • If dissatisfied, you can return the policy within this period for a refund, minus charges for risk coverage, medical exams, and stamp duty.

People also read: Government Schemes for Girl Child

How Does the PNB MetLife Genius Plan Work?

Step 1- Determine Your Child's Age and Future Needs 

Start by considering your child's current age and what their financial needs will be in the future, such as education or other major milestones.

Step 2- Set a Goal for Your Policy 

Decide on either the amount of money you want to accumulate for your child's future or the premium amount you are willing to pay regularly for the policy.

Step 3- Choose the Premium Payment Term 

Select how many years you are willing to pay premiums on your policy. This can range from a few years to the entire duration of the policy.

Step 4- Decide When and How Often to Receive Payouts 

Specify the age at which your child should start receiving the milestone income benefits and how many payouts you would like to receive.

Step 5- Calculate Your Premium or Benefit Amount 

Using the information from the previous steps, calculate either the premium amount you need to pay to achieve your goal or the benefit amount your policy will provide.

Suicide Exclusion Criteria for PNB MetLife Genius Plan

The PNB MetLife Genius Plan has a suicide exclusion clause that applies for the first twelve months from the policy's start date or from the date it's revived, if applicable. This means that if the insured person (life assured) dies by suicide within this period, the beneficiary will only receive a payout of 80% of the total premiums paid till the date of death. 

The payout will be the higher amount between this 80% and the surrender value available on the date of death. No interest will be paid on this amount.

FAQs

  • What is the genius plan of PNB MetLife?

    The PNB MetLife Genius Plan is an individual, non-linked, non-participating life insurance plan designed to help you save for your child's future. It combines guaranteed benefits with flexibility to create a customized payout structure for your child's educational needs.
  • What is the maturity amount of the PNB MetLife Genius Plan?

    The Genius Plan does not function like a traditional investment with a fixed maturity amount. This investment option is designed to provide a stream of income during the chosen payout period. The total payout amount depends on various factors, like the sum assured, the chosen premium amount, the premium payment term, and the chosen payout term.
  • What are the benefits of the PNB MetLife Genius Plan?

    Some of the benefits of the PNB MetLife Genius Plan:
    • Guaranteed benefits to help achieve your child's educational goals.

    • Flexibility to customize the payout structure based on your child's educational needs.

    • Assured goal achievement through the waiver of premium benefit in case of your death.

    • Life cover protection throughout the policy term.

    • Potential tax benefits under Section 80C and 10(10D).

  • Can we trust PNB MetLife?

    PNB MetLife is a joint venture between Punjab National Bank (PNB) and MetLife International Inc. It is a reputable insurance provider in India. Here are some factors to consider regarding PNB MetLife's trustworthiness:
    • Established brand: PNB MetLife is a well-known insurance company with a strong presence in India.

    • Regulation: PNB MetLife is regulated by the Insurance Regulatory and Development Authority of India (IRDAI).

    • Financial Stability: You can check PNB MetLife's financial ratings from credit rating agencies to understand their financial health.

    It is essential to do your own research before making any investment decisions. 

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

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PNB MetLife Child Plans Reviews & Ratings

4.3 / 5 (Based on 29 Reviews)
(Showing Newest 10 reviews)
Rajat
Palsana, March 31, 2021
Beneficial plan
I have got a beneficial plan from the beneficial plan from the policybazaar related to child insurance policy. It is of pnb metlife insurance policy. Such great and affordable plans available. Thanks team.
Varun
Padampur, March 30, 2021
Tax rebate
While buying a child insurance plan I have got the tax rebate too. I bought this plan for my 3 years old son. I want his life to be safe and secured and whatever he wants to do he can achieve. I don’t want him to suffer a lot. Thanks to policybazaar for providing best pnb metlife child plan.
Srishti
Katol, March 16, 2021
Save for my child
I have saved the money for my child in the form of investment known as child insurance. I bought this plan from policybazaar and it is of pnb metlife. I am quite satisfied with the services of the policybazaar.
Amol
Athagarh, March 09, 2021
I paid online
I have taken a pnb metlife child insurance plan from the website of the policybazaar. I have paid online premium which is easy to pay and all things are transparent in nature.
Gunjan
Ahmednagar, October 18, 2016
Child Future Plan
I purchased a child insurance policy for my child which has low premiums and the service provided by the pnb metlife life insurance company is fantastic. Online renewals makes more easy due good service of online portal which is very simple and easily accessible.
Saurabh
Jamnagar, August 25, 2016
Child Care
Best child insurance policy which has maximum benefits in low premium. The insurer is pnb metlife life insurance. Service provided by them is fabulous and on time. Policy coverage is ~90% and the claims is easily sanctioned.
Tarun
Brahampur, July 26, 2016
Pnb insurance plan
The metlife life insurance is very good insurance company and buy child insurance plan. Now i'm tension free for my child's future. It's coverage is high and claims are even better. Updates are seen on the website. The renewals can be done by the online portal which is easy to use.
Ratika
Chunaar, July 11, 2016
Child Plan
Child insurance policy for my child in less investment. Service is fast provided from your side and even the online portal service is easy interface and access by anyone. Policy coverage and claims are high. Claiming is easy due to fast service.
Garima
Bawal, June 29, 2016
Good
My child'd future is secure with child insurance plan. The policy provide number of benefits which control my tension for his future. The policy coverage is high, Claims sanctioned easily due to quick service provided by the company members.
Pooja
Agra, April 14, 2016
Average Policy
I own pnb metlife child insurance policy plan which is an average one. The service is solid fast and the policy coverage is approx. 79%. The claims are okay but the claiming process is bit lengthy. Executives and staff members are doing great work with good response. Okay policy and good for tax saving. Good for middle class person.
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