PNB MetLife Bhavishya Plus Plan

PNB MetLife Bhavishya Plus Plan is a traditional savings and investment plan that provides policyholders with the triple benefit of guaranteed savings, protection and money back. This is an ideal policy for those looking to address long-term financial needs and is a way to provide for their near and dear ones when they are not around.

PNB MetLife Bhavishya Plus -  Key Features 

  • The policy provides long-term savings and coverage for a period of twelve to twenty-four years.
  • Financial provision made for the family members of the policyholder even in the unfortunate event of the insured's death
  • Benefits of tax are eligible on the policy purchase and the premiums paid under sections 80(C) and 10 (10D) of the Income Tax Act. 

PNB MetLife Bhavishya Plus - Benefits 

Maturity Benefit is paid if the person whose life is insured is alive when the policy matures, he or she receives 40% of the Base Sum Assured plus accrued Simple Reversionary Bonus plus Terminal Bonus.

If the person insured is alive, the policyholder receives Survival Benefits for three policy years before the maturity date. The Survival Benefit is equal to 20% of the Base Sum Assured.

In the event of the passing away of the person insured, the nominee receives the Death Sum Assured plus Accrued Reversionary Bonus. 

Additionally, future payable premiums are waived off. The nominee receives a fixed amount of 20% of the Base Sum Assured paid at the closure of each policy year in the last three years before the policy matures. The nominee receives 40% of the Base Sum Assured plus Simple Reversionary Bonus and Terminal Bonus if any, on the policy term end. 

Simple Reversionary Bonus is added to the policy from the start of the third policy year and continues until maturity. Terminal Bonus is added at the start of the sixth policy year. 

PNB MetLife Bhavishya Plus - Product Specification:




Entry Age (Last Birthday)

20 years

45 years

Maturity Age (Last Birthday)


69 years

Policy Term (PT) in years

12 years

24 years

Premium Paying Term (PPT) in years


Premium Paying Frequency

Annual, Semi-annual, Monthly, Payroll Savings Program

Yearly Premium

Annual :Rs. 8000, Semi-annual: Rs. 10,000, Monthly: 15,000

Rs. 17,999

Sum Assured

Rs. 92,320 (Based on lowest Sum Assured multiple allowed under the Plan)

Rs. 500,00


Details About Premium

Annual premium in Rupees


Annual Premium (Rs.)

Payment Mode

Policy Term (years)

Sum Assured (Rs.)




12 yrs





12 yrs





12 yrs





20 yrs





20 yrs





20 yrs



PNB MetLife Bhavishya Plus - Policy Details 

Grace Period: The insured is allowed a grace period of 30 days if he fails to pay his premiums by the premium due date. If the insured fails to pay his monthly premiums, then a 15 days grace period is allowed to pay his premiums. This timeframe is reduced to 15 days if payments are being done on a monthly basis. 

Policy Termination or Surrender Benefit: This policy acquires Surrender Value on the completion of three full policy years with the provision that all premiums were paid. The policy is terminated upon the earliest of the following: on payment of the Surrender Benefit, or Death Benefit or Maturity Benefit. The policy will also be terminated at the end two years after the policy has lapsed. 

Free Look Period: The insured gets a free look-up period of 15 days to review his plan on receiving his policy documents within which he can evaluate his plan in the light of his basic requirements. If the insured feels that he is not happy with the features and benefits of this plan then he is free to cancel his plan within 15 days of receiving the policy documents. All the premiums paid under this plan shall be refunded after making required deductions of the medical expenses, stamp duty charges and administrative expenses if any. 

A Policy loan facility can be availed, provided it does not exceed 90% of the policy's Special Surrender Value at the close of the relevant policy year.

If the insured has paid premium for at least 3 years and subsequently stops paying them, then the benefits of the policy shall be reduced proportionately. This reduction is called Reduced Paid-up Value.

Reinstatement of a lapsed policy is possible if the policyholder submits a written request for reinstatement within a timeframe of two years from the date of the lapse. Sufficient evidence of insurability has to be provided to the company, and all due premiums and interest accumulated have to be paid at the time of reinstatement.

A surrendered policy is not eligible for reinstatement. 


Suicide: If the insured commits suicide within first year from the plan inception, then 80% of the premium shall be paid to his beneficiaries. And, if the insured commits suicide within the first year of plan renewal, then a higher of Surrender Value on death and 80% of premiums paid till date shall be payable. 

Documents Required

Below are the documents which are required to be insured under PNB MetLife Bhavisya Plus:

  • Duly filled Application form/Proposal form
  • Age Proof
  • Bank Account Proof
  • Residential Proof
  • Other KYC documents; PAN Card, Adhaar Card, Tax Details etc
  • Past Medical History 

**The documents required are subject to the plan options and the sum assured chosen.

You may also like to read: PNB MetLife Investment Plans

Frequently Asked Questions: 

What are the conditions for termination of the policy?

The policy shall be terminated on occurrence of any of the following events:

  • On payment of policy surrender benefits
  • After 2 years of premium non-payment, if the policy has not been renewed given, the plan has not acquired any Paid-Up value.
  • On payment of maturity benefits.
  • On the death of the insured. 

What are the conditions for nominations?

The insured may nominate a minor at the policy inception, given he appoints an appointee to avail his benefits:

  • In case the nominee predeceases, the policyholder can add a nominee and continue the plan.
  • In case the nominee dies after the death of the policyholder, the plan shall continue to pay its benefits, as due to the legal successor. 
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