PNB MetLife Term Insurance
PNB MetLife Aajeevan Suraksha is a comprehensive life insurance plan t ...Read More
A quick read on what this PNB MetLife Term Insurance term plan covers and why it might be a fit for you.
PNB Metlife Aajeevan Suraksha Plan offers individuals a comprehensive life cover with a plethora of benefits and features embedded within the plan. Aajeevan Suraksha Plan offers you the convenience to pay premiums for a shorter period of time or throughout the policy term as well as life cover up to 99 years of age. Insurance holders can also opt to cover their spouse under the same plan and select the return of premiums on survival till the end of the policy term. The plan offers individuals a choice of 4 benefit options, namely Lump Sum, Life Partner, Fixed Income, Increasing Income
Additional benefits under the plan include a 'Return of Premium' option to get your premiums back on survival till maturity rider benefits as well as inbuilt coverage against terminal illness. In order to reach the right purchase decision it is essential to understand if the plan is tailored as per your needs and requirements. In this article, we shed light on all the pros and cons of the Aajeevan Suraksha Plan.
PNB Metlife Aajeevan Suraksha Plan offers you a range of benefits including:
A quick honest summary — the strengths and the trade-offs.
Eligibility criteria pulled straight from the policy wording.
Let's understand how the PNB MetLife Aajeevan Suraksha Plan works with a simple premium illustration.
Varun, 30 years old, is looking for a term plan that provides whole-life coverage and offers a spouse coverage option so he can add his wife to the same plan.
His financial advisor advised him to buy the PNB MetLife Aajeevan Suraksha Plan Work. He visited PolicyX.com.
Let's understand how the PNB MetLife Aajeevan Suraksha Plan works for him with an example.
| Age of policyholder | Monthly Premiums | Annual Premiums | Policy Tenure | Total premiums paid | Sum assured |
| 30 years | ₹1,154/month | ₹13,848/year | 30 years | ₹4,15,440 | ₹1 Crore |
Key Takeaways: If Varun passes away during the policy term, his wife will receive guaranteed monthly income from next month till the benefit period ends.
You can add the following riders to your PNB Metlife Aajeevan Suraksha Plan:
Get additional health coverage on top of the base cover in case of a diagnosis of any listed critical illnesses .
Get an extra payout on top of base cover upon your unfortunate death due to an accident.
Key features that make PNB Metlife Aajeevan Suraksha stand out.
Whole Life Cover
Get complete protection up to the age of 99 years and stay protected with a life cover.
Tax Benefits
You can claim up to 1.5 lakhs of tax benefits under section 80C of The Income Tax Act, 1961, against the premiums paid for this policy.
Increasing Monthly Income
Increasing monthly income for 10 years plus immediate lump sum payout equal to 100 times the chosen monthly income.
Spouse Coverage
With the spouse coverage benefit, you can get coverage for both the husband and wife under a single plan.
Here are the key benefits of the PNB Metlife Aajeevan Suraksha.
Plan Options Offered By PNB Metlife Aajeevan Suraksha Plan
PNB Metlife Aajeevan Suraksha Plan offer various additional benefits to the policyholders.
Lump Sum Benefit
At the policy inception, individuals can opt for a lump sum payout benefit on the first diagnosis of terminal illness or death of the life insured. The lump sum paid to the insured individual is equivalent to the sum assured on death and is available under both 'Fixed Term' and 'Whole Life' Cover Options.
Fixed Income Benefit
This benefit allows insured individuals to opt for their monthly income amount. On the first occurrence of death or diagnosis of terminal illness, the sum assured on death shall be payable which is equal to lum sum amount (equal to 100 times of monthly income chosen at the time of inception) payable immediately plus the fixed monthly income payable over 10 years (120 months) in installments. The first monthly income will be paid to the nominee one month from the date of death of the life assured. This benefit can be availed with both 'Fixed Term' and 'Whole Life' Cover options.
Life Partner Benefit
Life Partner Benefit offers individuals the facility to cover both the individual and their spouse under the same plan. The cover for the second life insured shall be less than or equal to 50% of the lump sum amount chosen for the first life, to a minimum of INR 25 Lakhs and a maximum of INR 1 Crore. Insurance holders have to opt for lump sum benefits at the time of inception. We have mentioned below different scenarios under the life partner benefit option:
Increasing Income Benefit
Individuals have to select their monthly income amount at the time of inception and on the first occurrence of death or diagnosis of terminal illness, the sum assured will be payable on death. The sum assured on death is equal to the lump sum amount which is (equal to 100 times of monthly income chosen at the time of inception) payable immediately plus increasing monthly income payable over 10 years (120 months) in installments increasing at 10% per annum. However, the first installment of the monthly income will be payable one month from the date of death of the life assured. This option is available under both 'Fixed Term' and 'Whole Life' Cover options.
Maturity Benefit
The maturity benefit is applicable only if the 'Return of Premiums' option is chosen at the policy inception. The Maturity Benefit is equal to the Guaranteed Sum Assured on Maturity.
Special Benefits forWomen Policyholders
Under the PNB Metlife Aajeevan Suraksha plan, female policyholders are entitled to special premium rates.
Return of premiums
Under this benefit, insured individuals are entitled to receive a maturity benefit which is equal to the guaranteed sum assured on maturity on survival till the maturity of the policy.
Flexible Premiumment Mode
Aajeevan Suraksha Plan offers flexible premium payment by offering insurance holders to opt for yearly, half-yearly, or monthly premium payment modes.
Here is the list of exclusions associated with the plan:
PNB MetLife Aajeevan Suraksha is a comprehensive term insurance plan that gives you complete protection up to the age of 99 years. You can also choose to cover your spouse in the same plan and choose the return of premiums on survival till the end of the policy term. If you want to know more about the plan or compare different plans, you can easily contact us through the website policyx.com or call us at 1800-4200-269.
PNB MetLife Aajeevan Suraksha is a comprehensive term insurance plan that gives you complete protect
The 5 most-asked questions about PNB Metlife Aajeevan Suraksha, answered.
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