PNB MetLife Term Insurance
PNB MetLife Family Income Protector Plus is one of the most unique ter ...Read More
A quick read on what this PNB MetLife Term Insurance term plan covers and why it might be a fit for you.
'A Term plan that gives a regular monthly income after your demise'
If you support your family financially through your income, then undoubtedly, the comfort, happiness, and protection of your loved ones depend on you. But what if any mishap occurs to you? Such a scenario can strip your family of the financial aid too.
Therefore, to keep the family income flowing even after your demise, PNB Metlife term insurance plan has introduced a term plan named 'Family Income Protector Plus'. A unique non-linked term insurance plan that will protect your family from any future uncertainties by providing a regular monthly income for up to 20 years. Not only this, but if you outlive your policy, the premiums that you paid will be given back to you.
PNB Metlife Family Income Protector Plus plan offers you a range of benefits, including:
A quick honest summary — the strengths and the trade-offs.
Walkthroughs from the PolicyX team — pros, cons, real claim experiences and who should buy.
PNB Metlife term plan is a great option to cover your family. Choose amongst the four riders for an added net of safety with a sum assured that goes up to 1 crore.
Eligibility criteria pulled straight from the policy wording.
Let's understand how the PNB Metlife Family Income Protector Plus with a simple premium illustration.
Mr. Sharma, aged 30 years, wants a term insurance plan that provides regular monthly income to his family in case of an unfortunate event
He visited PolicyX.com to understand suitable term insurance options. After analysing his needs, advisors suggested the PNB MetLife Family Income Protector Plus Plan.
Let us see a brief illustration of the PNB MetLife Family Income Protector Plus Plan.
| Age | Policy Term | Monthly Income Chosen | Family Income Payout Period |
| 30 years | 10 years | ₹50,000 per month | 20 years |
Key Takeaways: If Mr. Sharma passes away during the 10-year policy term, his family will receive ₹50,000 every month for the next 20 years.
Key features that make PNB Metlife Family Income Protector Plus stand out.
Plan options
You must choose between "Term Cover" or "Term with Return of Premiums (TROP)" at the start; this cannot be changed later.
Flexible Premium Payment
Premiums can be paid Yearly, Half-Yearly, Monthly (via ECS), or through a Payroll Savings Program.
Grace Period
A period of 30 days is allowed for yearly/half-yearly modes, and 15 days for monthly modes, to pay overdue premiums while keeping the policy active.
Surrender benefit
This benefit is available only under the TROP option after paying premiums for at least two years. The surrender value paid will be whichever is higher between the Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV).
Reduced Paid Up Value
If premiums stop after paying for at least two years under the TROP option, the policy continues with lower death cover and reduced monthly income benefits.
Here are the key benefits of the PNB Metlife Family Income Protector Plus.
Death Benefits
Family gets monthly income or lump sum payout if the policyholder passes away during the policy term.
Death sum assured
The nominee receives the highest of 10x annual premium, 105% of premiums paid, or Base Sum Assured.
Tax Benefits
Under the Pure Term option, no maturity benefit is paid if the policyholder survives the policy term. Under the TROP option, 110% of the total premiums paid is returned at maturity.
Here is the list of exclusions associated with the plan:
PNB MetLife presents one of the most unique term insurance plans that helps your family financially in your absence by providing regular monthly income. 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 presents one of the most unique term insurance plans that helps your family financially
The 7 most-asked questions about PNB Metlife Family Income Protector Plus, answered.
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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