PNB MetLife Life Insurance Long Income for Tomorrow Plan

Eligibility Criteria for the PNB MetLife Life Insurance Long Income for Tomorrow Plan

Features of the PNB MetLife Life Insurance Long Income for Tomorrow Plan

Some of the key features of the PNB MetLife Life Insurance Long Income for Tomorrow Plan:

• The plan provides a guaranteed income at a fixed amount of 25, 30, and 35-year payout that helps the policyholder to develop a steady income stream in the future.
• There are three different options for paying out the income, i.e., Level Income, Increasing Income, and Double Income, to which policyholders can opt, depending on the growth they want their income to take.
• It has two types of covers, Life Option and Enhanced Life Option, whereby a person is free to choose the kind of life cover they need.
• Guaranteed additions are built up during the term of payment of the premium and may augment the total income benefits payable upon payment of the payout period.
• The plan gives the option of flexibility to select premium payment terms and deferment periods as per individual financial planning requirements.

If you are exploring different options offered by the insurer, you can review various savings and protection options under the PNB MetLife Investment Plans to understand how they support long-term financial goals.

Benefits of the PNB MetLife Life Insurance Long Income for Tomorrow Plan

The PNB MetLife Life Insurance Long Income for Tomorrow Plan comes with the following benefits:

• Maturity Benefit: When the life assured does not pass away before the maturity period, the policy will offer a Guaranteed MoneyBack Benefit of a 100% of all money paid in total premiums paid hitherto and the last guaranteed installment of the payment paid out at the end of the payout period.
• Guaranteed Income Benefit: The policyholder is scheduled to receive a guaranteed income during the income payment era, depending on the amount of income chosen and the policy.
• Death Benefit: In the unfortunate event of the life assured dying within a policy term, the nominee will offer the death benefit according to the terms and conditions stated in the policy. The death benefit usually takes the form of the greater between the sum assured on death, 105% of all premiums paid or the surrender value sufficient.
• Flexible Income Options: The plan gives various income payout plans in order to allow the policyholders to select a payout plan that suits their financial objectives.

Riders Under the PNB MetLife Life Insurance Long Income for Tomorrow Plan

The following are the riders associated with the PNB MetLife Long Income for Tomorrow Plan. The plan offers some of the riders that are:

• PNB MetLife Accidental Death Benefit Rider Plus: Provides additional financial support in case of death due to an accident.
• PNB MetLife Serious Illness Rider: Offers financial assistance if the life assured is diagnosed with certain specified critical illnesses.

These riders can be added at an additional cost as per policy conditions.

Policy Details of the PNB MetLife Life Insurance Long Income for Tomorrow

The following are the policy details of the plan:

• Grace Period: A grace period is provided in terms of payment of premiums. Failing to pay the premium on the due date is permitted, allowing policyholders more time to pay without having to lapse the policy at once.
• Revival: In case the policy can be revived within the revival period, it was lapsed due to non-payment of the premiums; all outstanding premiums and interest will be paid.
• Free Look Period: Once the policy is given to the policyholders, they have a free look period within which they review the policy terms and conditions. They might terminate the policy within the given time if they are not satisfied.
• Surrender: The policy may be surrendered once the requisite minimum premiums have been made. Policy terms and conditions will be followed where the surrender value is paid.
• Loan: Policyholders can also get a loan against the policy, which is subject to the terms of the insurer, once the policy has gained a surrender value.

You can also compare multiple best investment plans available in the market to choose a policy that aligns with your savings horizon and financial objectives.

Exclusions Under the PNB MetLife Life Insurance Long Income for Tomorrow Plan

Suicidal Cover

In case of suicide within 12 months of commencement, or revival of the policy, of the assured who dies, the amount that would be received is according to the policy terms.