PNB MetLife Monthly Income Plan-10 Plan, Policy, Premium and Maturity Calculator

Participating, non-linked, deferred interment plan.

Death Benefit – In the unfortunate event of demise of policyholder, a death benefit will be provided to his/her nominee which is the higher of:

• Death Sum Assured plus Accrued Simple Reversionary Bonus and Terminal bonus, or
• 105% of all premiums paid.

• 10 times the annualized premium, or
• Base Sum Assured, or
• Maturity Sum Assured.

• Chosen monthly income for the next 15 years. The first monthly income payout starts on the expiry of one month after the maturity. Plus,
• Option to take accrued bonus as lumpsum, and
• Option to enhance monthly income through accrued bonus.

Upon the surrender of the policy, the higher of either the Guaranteed Surrender Value or Special Surrender Value is payable.

• If all the premiums are paid for at least 3 full policy years, the policy acquired the GSV.
• 30% of the total premiums paid, if surrendered between the 2nd and 3rd year.
• 50% of the total premiums paid, if surrendered between the 4th and 7th year.
• 70% of the total premiums paid, if surrendered in the 8th year.
• 90% of the total premiums paid if surrendered in the last 2 years of the policy.

• (Maturity Sum Assured x Number of premiums paid / Number of premiums payable) + (The accrued Simple Reversionary Bonus).

Single.

10 years.

10 years.

Minimum: Rs.23,280. Maximum: Rs.18,20,000.

Loan facility is not available under this plan.

Tax benefits are applicable as per applicable taxation laws.

There is a grace period of 30 days on non-payment of the unpaid premium. 15 days in the case of monthly and PSP modes.

There is a free look period of 15 days from the date of receipt of policy documents, and 30 days in case the policy has been sourced through distance marketing channels.

When the premiums are not paid within the grace period, the policy will lapse and is subject to non-forfeiture provisions.

The policy stands terminated on the earliest among the following scenarios:

• The payment of last monthly income at the end of the benefit payout period.
• Payment of death benefit during the policy term.
• Date on which the policy is surrendered.
• Upon the expiry of two years from the date of policy lapse. When the policy is not reinstated, provided that the policy has not acquired any paid up value.
• On the payment of the maturity benefit.

• In the event that the policyholder commits suicide within one year from the commencement of insurance coverage, 80% of the premium received (without interest) will be payable to the nominee.
• If the policyholder commits suicide within one year from reinstatement of the policy, insurance coverage will be void and 80% of the premiums received (without ROP) will be paid to the nominee.

PNB MetLife Retiremet Life Insurance Plans and Policy