PNB MetLife Insurance Annuity Plan

What is a PNB MetLife Insurance Annuity Plan?

A PNB MetLife Insurance Annuity Plan is a financial product that converts a lump-sum amount into a guaranteed stream of regular income, payable monthly, quarterly, half-yearly, or annually, for life or, in certain variants, for a fixed guaranteed period. PNB MetLife’s annuity options are among the top choices for building financial security through assured income during retirement.

As an investor, you can choose to invest through either:

• Lump-sum payment (for immediate annuity income)
• Regular premium payments (for deferred annuity income)

In return, PNB MetLife provides guaranteed payouts for life based on the chosen annuity plan.

Types of PNB MetLife Insurance Annuity Plans

PNB MetLife Insurance provides reliable annuity plans to guarantee a stable and reliable income flow upon retirement. Such types of annuities can assist investors in transforming their savings into lifetime income with the option of flexibility in payment:

• PNB MetLife Immediate Annuities Plan: It is an individual, non-linked, non-participating immediate annuity product, which transforms a single premium into a guaranteed lifetime income. It provides a number of payout choices, such as single-life and joint-life, and has such features as increasing income due to inflation (3% p.a. increasing options) and purchase price return variants.
  
  
• PNB MetLife Saral Pension Plan: Saral Pension Plan is a non-linked, non-participating, non-premium, immediate annuity scheme available to investors with an age of 40-80 years and with a minimum of ₹1,000 monthly.
  
  
• PNB Metlife Grand Assured Income Plan: It is an individual, non-linked, non-participating deferred annuity plan, which provides guaranteed income throughout his or her life during retirement. It offers a variety of annuity plans such as Life, Life with ROP, and Joint Life. This scheme is a combination of growing income deferred and a lifetime of financial security.

PNB MetLife Immediate Annuity Plan

The PNB MetLife Immediate Annuity Plan is an individual, non-linked, non-participating immediate annuity product that converts your lump-sum corpus into guaranteed lifetime income. You pay a single premium and secure regular payouts for yourself, extend income protection to your spouse, and leave a legacy for your loved ones. The minimum purchase price starts at ₹3 lakh for most options (₹5 lakh when opting for increasing annuity), and you receive a minimum monthly annuity of ₹1,000.

1. Key Features of PNB MetLife Immediate Annuity Plan

   Parameter	Details
   Plan Type	Individual, non-linked, non-participating, immediate annuity product
   Age at Entry (Standalone Annuity)	Minimum: Single Life 30 yrs, Joint Life 40 yrs (both lives)
   Age at Entry (Tied Annuity)	Minimum: Single Life 0 yrs, Joint Life 18 yrs (both lives)
   Maximum Age at Entry	Standalone: 75 yrs; Tied Annuity: 90 yrs
   Minimum Purchase Price (Single Premium)	For "Increasing Life Annuity & Increasing with Return of Purchase Price" options - ₹5,00,000 For other options - ₹3,00,000
   Minimum Annuity Payout	₹1,000 per month
   Annuity Payment Modes	Monthly, Quarterly, Half-Yearly, Yearly
   Corpus Source / Utilisation	Single premium payment using accumulated funds or pension plan proceeds (standalone or tied annuity)

2. Sample Illustration – PNB MetLife Immediate Annuity Plan (Monthly Payout)

   Below is an indicative example showing how annuity payouts may vary depending on the option chosen. Actual rates depend on age, gender, purchase price, and prevailing annuity rates.

   Annuity Option	Purchase Price (₹)	Annual Payout (₹)	Monthly Payout (₹)
   Life Annuity	10,00,000	73,907	5,993
   Life Annuity with Return of Purchase Price (ROP)	10,00,000	60,245	4,894

   *Actual payouts vary by age, gender, plan option, and annuity rates. "ROP" means Return of Purchase Price, where the invested amount is repaid to the nominee after death.

   Note: The above figures are for illustration purposes only and are not taken from the official brochure. Actual payouts will vary.

PNB MetLife Saral Pension Plan

The PNB MetLife Saral Pension Plan (UIN: 117N130V01) is a single-premium, non-linked, non-participating immediate annuity plan designed for individuals aged 40 to 80 years. This plan offers two variants only: Life Annuity with Return of 100% Purchase Price (ROP) and Joint Life Last Survivor Annuity with Return of 100% Purchase Price (ROP). Loans are permitted after six months, and surrender is allowed on diagnosis of a listed critical illness (95% of the purchase price).

1. Key Features of PNB MetLife Saral Pension Plan

   Parameter	Details
   Plan Type	Individual, non-linked, non-participating, immediate annuity plan
   Age at Entry (last birthday)	Minimum: 40 years
   Premium Paying Term	Single Pay
   Policy Term	Whole Life
   Minimum Annuity Amount	Monthly: ₹1,000
   Annuity Payment Modes	Monthly, Quarterly, Half-Yearly, Yearly
   Purchase Price	Minimum: Minimum Purchase Price equals the amount needed for ₹1,000 monthly / ₹3,000 quarterly / ₹6,000 half-yearly / ₹12,000 yearly. Maximum: No Limit
   Annuity Options	- Life Annuity with Return of 100% of Purchase Price (ROP) - Joint Life Last Survivor Annuity with Return of 100% of Purchase Price (ROP)
   Loan Facility	A loan can be availed after six months. Loan interest = 10-year G-Sec rate as on April 1 + 200 bps (annual loan interest ≤ 50% of annual annuity).
   Death Benefit	100% of the Purchase Price is returned to the nominee/legal heir (Single Life). In Joint Life, 100% of the Purchase Price is paid to the nominee after both lives’ demise.
   Policy Termination	Upon the death of the annuitant (Single Life) or the last survivor (Joint Life), or upon surrender due to Critical Illness.

   *In case the annuitant or a family member is diagnosed with a listed critical illness, 95% of the purchase price will be paid as a surrender benefit, and the policy will terminate.

2. Sample Illustration - PNB MetLife Saral Pension Plan (Monthly Payout)

   Below is how the monthly annuity payout may look for a 60-year-old annuitant based on the official examples provided by PNB MetLife (training reference):

   Annuity Option	Purchase Price	Entry Age	Spouse Age	Monthly Annuity (₹)
   Life Annuity with Return of Purchase Price (ROP)	₹50,00,000	60 years	-	₹24,469
   Joint Life Last Survivor Annuity with Return of Purchase Price (ROP)	₹50,00,000	60 years	57 years	₹24,299 (per month, same amount continues to the spouse after the annuitant’s death)

   *Actual annuity amount may vary slightly based on age difference and prevailing annuity rates.

PNB MetLife Grand Assured Income Plan

The PNB MetLife Grand Assured Income Plan (GAIN) is an individual, non-linked, non-participating deferred annuity plan that ensures guaranteed lifelong income after a chosen deferment period. Guaranteed Additions at 0.5% of total premiums paid per month accrue throughout the deferment period while the policy remains in force, followed by a fixed lifelong income, either for yourself or jointly with your spouse. With entry ages from 30 to 84 years and flexible premium options (Single, 5, 7, or 10 pay), it offers Guaranteed Additions at 0.5% of Total Premiums Paid per month till the end of the deferment period, as long as the policy remains in force.

1. Key Features of PNB MetLife Grand Assured Income Plan

   Parameter	Details
   Plan Type	Individual, Non-linked, Non-participating, Deferred Annuity
   Age at Entry (last birthday)	Minimum: 30 years; Maximum: 84 years (65 years for Option C)
   Policy Term	Whole life after completion of the deferment period
   Deferment Period	1 to 10 years (as chosen at inception)
   Premium Payment Modes	Annual, Half-Yearly, Quarterly, Monthly
   Minimum Purchase Price	₹1,00,000 (Single Pay); ₹30,000 (5 & 7 Pay); ₹20,000 (10 Pay)
   Maximum Purchase Price	No Limit
   Minimum Annuity Amount	Monthly: ₹1,000; Quarterly: ₹3,000; Half-Yearly: ₹6,000; Yearly: ₹12,000
   Death Benefit	On death after the deferment period, the nominee receives the higher of total premiums paid plus accrued guaranteed additions (if any) or 105% of total premiums paid.
   Survival Benefit	Under Option C only, the annuitant receives 50% of total premiums on reaching age 80 or after 25 policy years (whichever is later) without affecting regular annuity payments.

Sample Illustration – PNB MetLife Grand Assured Income Plan (Annual Payout)

The following annual annuity payouts are based on PNB MetLife’s official brochure examples for a 60-year-old annuitant and are for illustration purposes only:

*Actual payouts vary depending on age, deferment period, annuity option, and premium amount.

Key Takeaways

The PNB MetLife Annuity Plan offers guaranteed lifelong income through a single premium, ensuring steady post-retirement earnings. The minimum purchase price varies by plan type. For the Immediate Annuity Plan, it starts at ₹3 lakh for standard options and ₹5 lakh for increasing annuity options. The Saral Pension Plan requires only a minimum monthly annuity of ₹1,000, and the Grand Assured Income Plan (GAIN) begins at ₹1,00,000 for Single Pay, ₹30,000 for 5 & 7 Pay, and ₹20,000 for 10 Pay. Flexible payout modes (monthly, quarterly, half-yearly, or yearly) ensure a consistent income, securing lifelong financial stability.