PNB MetLife Aajeevan Suraksha Term Plan

PNB MetLife Aajeevan Suraksha is a complete protection plan with various flexible features and benefits. It is carefully designed to provide you with a secured future as well as a stress-free present. It ensures life-long protection while giving you the freedom to opt for premium payment as per your requirements.

PNB MetLife Aajeevan Suraksha Term Plan Features

  • PNB MetLife Aajeevan Suraksha provides protection for the entire life (up to the age of 99 years) while giving you the option to pay a premium for a shorter period or till the term.
  • It also comes with an option of fixed-term cover for 10 to 40 years.
  • It gives the option to cover your spouse under the same policy.
  • The minimum entry age for this policy is 18 years, and the maximum is 65 years.
  • The maximum maturity age for fixed-term cover is 80 years, and for whole life, the cover is 99 years.
  • The plan gives you the flexibility to pay premiums for a limited term (5- 15 years) based on your requirement or pay throughout the policy term.
  • You can also opt for a return of premium option as a maturity benefit.
  • The plan can be customized with a choice of 4 benefit options – Lump sum, Life Partner, Fixed Income, and Increasing Income.
  • Tax Benefits are applicable as per the prevailing norms of the Income Tax Act.

 

Details of the 4 Benefit options under PNB MetLife Aajeevan Suraksha Term Insurance Plan

Benefit Options Description
Lump-sum Under this option, a sum assured payable immediately on the first occurrence of Death or diagnosis of Terminal Illness of the life assured during the policy term. This benefit option can be availed with both ‘Fixed Term Cover’ and ‘Whole Life Cover’ options.
Life Partner In this option both the Policyholder (the first life) and his/her spouse (the second life) are covered. The cover for partner or second life would be available upon payment of additional premiums. It shall be less than or equal to 50% of the lump sum amount chosen for the first life, subject to a minimum of Rs. 25 lakhs and a maximum of Rs. 1 Crore. This benefit option can be availed only with the Fixed Term Cover option.
Fixed Income On the first occurrence of Death or diagnosis of Terminal Illness, the Sum Assured on Death shall be payable which is equal to the chosen lump sum amount plus fixed Monthly Income payable over 10 years, where the first installment of monthly income will be payable one month from the date of death of the life assured. The policy terminates with the payment of the last installment of Monthly Income. This benefit option can be availed with both ‘Fixed Term Cover’ and ‘Whole Life Cover’ options.
Increasing Income On the first occurrence of death or diagnosis of Terminal Illness, Sum Assured on Death shall be payable, which is equal to the chosen lump sum amount payable immediately plus increasing Monthly Income payable over 10 years increasing at 10% simple per annum, where the first installment of monthly income will be payable one month from the date of death of the life assured. The policy terminates with the payment of the last installment of Monthly Income. This benefit option can be availed with both ‘Fixed Term Cover’ and ‘Whole Life Cover’ options.

Why should you choose the PNB MetLife Aajeevan Suraksha Term Insurance Plan?

  • To get the benefit of whole life cover by paying a premium for a limited term.
  • To get life cover for your spouse under the same policy.
  • To choose the suitable benefit options for your family from 4 different plan benefit options.
  • To avail maturity benefit by getting back all premiums paid on policy survival.
  • To ensure your family’s complete financial security.

 

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