PNB MetLife Bachat Yojana Plan, Policy, Premium and Maturity Calculator

Death Benefit – In the unfortunate event that the life insured dies, his / her nominees will be entitled to:

• Sum Assured on Death, plus
• Accrued Simple Reversionary Bonus, plus
• Terminal Bonus (if any, as applicable).

• 10 times the annualized premium paid, or
• Minimum guaranteed Sum Assured on Maturity, or
• Absolute amount assured to be paid on death of the policyholder, or
• 105% of all premiums paid.

• Death of the life insured.
• Maturity of the policy.
• Surrender of the policy.

• Death of the life insured.
• Maturity of the policy.

Single.

15 years.

• 10 years limited pay.

• Annual.
• Semi-annual.
• Monthly (only through the process of ECS)
• Payroll Savings Program.

Minimum:

Annual	Rs.6,000
Semi Annual	Rs.10,000
Monthly / Payroll Savings Program	Rs.15,000

If the premiums are paid for 3 full policy years and the policy has been in force for 3 full policy years, the policy will acquire a surrender value.

Loan is provided against the policy. The maximum loan amount offered is limited to 90% of the Special Surrender Value of the end of the relevant policy year. The rate of interest is determined by the company.

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.

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:

• 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.
• Upon payment of death benefit.

• In the event that the policyholder commits suicide within one year from the commencement of insurance coverage, the insurance cover will be void and the company will not be liable to pay any benefits (including but not limited to the Sum Assured) except refunding 80% of the premiums received without any interest.
• If the policyholder commits suicide within one year from reinstatement of the policy, insurance coverage will be void and the company will not pay any benefits except the GSV and will refund the premiums paid without interest to the nominee.

PNB MetLife Rural Life Insurance Plans and Policy