PNB MetLife Life Insurance Guaranteed Goal Plan

Eligibility Criteria for PNB MetLife Life Insurance Guaranteed Goal Plan

Features of PNB MetLife Life Insurance Guaranteed Goal Plan

Here are the key features of the plan:

• Two payout options: Choose between a lump-sum payout or an income plus lump-sum payout structure.
• Guaranteed additions: 5% of total annualised premiums accrue annually during the premium payment term.
• Wealth additions: Additional bonuses are credited after the premium payment term to enhance maturity benefits.
• Life cover throughout the policy term: The plan provides financial protection for the entire policy duration.
• Flexible payout date: Policyholders can choose when they want to start receiving survival benefits. With PNB MetLife Investment Plans, policyholders can choose options that provide guaranteed returns or market-linked growth.
• Premium payment flexibility: Premiums can be paid in multiple modes, including annually, half-yearly, quarterly, or monthly.

Benefits of the PNB MetLife Life Insurance Guaranteed Goal Plan

Below are the benefits offered by this plan:

1.  Guaranteed Maturity Benefit

   In case the policy owner dies before the policy expiry date, the maturity value is paid in the form of sum assured on maturity, accrued guaranteed additions, and additions in the form of wealth, as per the option chosen.

2.  Survival Benefit

   When the income plus lump sum option is chosen, the policyholder gets guaranteed survival benefits upon payment of the premium until the payment matures.

3.  Death Benefit

   If the life assured passes away during the policy term, the nominee receives the death benefit, which is the higher of:

   • 10 times the annualized premium, or
   • 105% of total premiums paid

   The policy usually terminates after the payment of the death benefit unless specific benefit options are chosen.

4.  Tax Benefits

   Premiums paid and benefits received may qualify for tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, subject to applicable regulations.

Riders Under the PNB MetLife Guaranteed Goal Plan

•  PNB MetLife Accidental Death Benefit Rider Plus:

   It is an extra payment that is given when the life assured dies in an accidento

• PNB MetLife Serious Illness Rider: 

  This will support the insured in case he is diagnosed with a covered critical illness.

  These riders can be added at policy inception or during policy anniversaries within the premium payment period.

Policy Details of the PNB MetLife Life Insurance Guaranteed Goal Plan

The following are the policy details under the PNB MetLife Life Insurance Guaranteed Goal Plan:

1.  Grace period

   The grace period gives the policyholder more time to pay his or her premiums and still be covered.

   • Monthly Mode: 15 days
   • Other Modes (Yearly, Half-Yearly, Quarterly): 30 days

   During this period, the policy remains active, and coverage continues.

2.  Revival

   In case the policy is not paid since the premiums are not paid, it can be revived within the revival period by the payment of the outstanding premiums and an interest charge.

3.  Free Look Period

   The policyholders may cancel the policy within 30 days after receiving the policy document in case they are not satisfied with the terms and conditions.

4. Surrender

   The policy gains surrender value once the necessary number of premiums have been paid. The amount that will be paid as the surrender value will be the greater of the guaranteed surrender value and the special surrender value.

5. Fund Switching

   It is a non-linked plan, and fund switching cannot be realised. Financial experts recommend reviewing the Best Investment Plans in 2026 to plan effectively for retirement, education, and wealth creation.

6.  Loan

   Policyholders have the option of borrowing against the policy within the stipulated conditions. The interest rate now is pegged at some markup on government security yields.

Exclusions Under the PNB MetLife Life Insurance Guaranteed Goal Plan

1.  Suicidal Cover

   In case the assured on life passes away through suicide within 12 months of commencement or revival of the policy, the nominee is paid 80% of all the premiums paid or the amount of the surrender value, whichever is greater.

2.  Total Permanent Disability (TPD)

   The basic policy does not offer TPD coverage as such unless extra riders that provide this coverage are chosen.