PNB MetLife Insurance is among the best private life insurers of India for the fiscal year 2019 as per CRISIL. The company has launched a new participating, non-linked life insurance plan, known as PNB MetLife Super Saver Plan. In a few decades, the economy of India has gone up at a rapid pace and the disposable salary of a common Indian has increased significantly. In this way, with improved lifestyle and increased income, people are planning to invest in their life goals.
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One of the policies that PNB MetLife Insurance Company has launched is PNB MetLife Super Saver Plan. This policy is designed to save for their goals of life regularly. The coverage of life insurance with a premium waiver option safeguards the policyholder's family in a situation of unfortunate death of the policyholder. In addition to this, plan comes with a cash bonus feature that offers intermediate liquidity. In this way, this plan provides a dual benefit of wealth creation and protection.
Talking about the launch, PNB MetLife’s Head of Products Mohit Garg, said that PNB MetLife has designed its products in a way that it caters to different financial requirements of its customers. To help its customers in different life stages, the company has launched various Family protection, child education, retirement, and long-term savings products. The Super Saver product of PNB MetLife addresses various uncertainties of life and hence offers dual benefits of wealth creation and life insurance.
Your premium is decided on age at which you buy the policy and remains same, throughout your life
Premiums can increase between 4-8% each year after your Birthday
Your policy application could be rejected or premiums increase by 50-100%, if you develop a lifestyle disease
The key features of this plan are:
PNB MetLife Super Saver Policy accumulates the savings of the policyholder and offers financial protection for the long term to the family of the policyholder. Also, it as well offers a waiver of premium for ensuring that policyholder’s goals are not compromised in the situation of untimely demise or critical illness.
The benefits of PNB MetLife Insurance Super Saver Plan are:
Specification of Product | |||||||||||||||||||
Plan Options | Option 1: Savings Option 2: Savings + Family Care Option 3: Savings + Health Care | ||||||||||||||||||
Bonus Options | Option 1: Accumulation Option 2: Liquidity | ||||||||||||||||||
Maximum Entry Age |
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Minimum Entry Age |
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Maximum Maturity Age |
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Policy Term (Years) |
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PPT (Premium Payment Term) | Five, Seven, 10, 12, Regular Pay, 15 Years | ||||||||||||||||||
Minimum Annualized Premium in Rupees |
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Maximum Annualized Premium in Rupees | As per the Basic Sum Assured accepted according to the Board’s approved underwriting policy | ||||||||||||||||||
Maximum Sum Assured | Based on the underwriting policy approved by the board. | ||||||||||||||||||
Minimum Sum Assured (in Rs.) | 2, 20, 000 | ||||||||||||||||||
Mode of Premium Payment | Monthly/ Yearly/ Half Yearly |
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