PNB MetLife Guaranteed Goal Plan is a type of life insurance policy offered by PNB MetLife India Insurance Company Limited. It is a savings-oriented plan that provides guaranteed maturity benefits to policyholders. The plan also offers death benefits to the nominee in case of the policyholder’s death. The plan is designed to help policyholders save for specific goals such as children’s education, marriage, or retirement. Policyholders can choose from a range of policy term options and premium payment modes to suit their needs. The new plan features built-in critical illness and death protection, premium waivers in the event of death or critical disease diagnosis, and an option for accidental death.
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PNB Metlife’s Goal Plan provides
- Benefits are available as lump sum payments or as a guaranteed income.
- Add more investments to your portfolio with Wealth Additions and Guaranteed Additions.
- Better benefits for more expensive premiums
- The freedom to save up survival benefits and receive payouts on the day of your choosing
- Full-term life insurance coverage
- **Waiver of premium with Family Care and Health Care choices upon death or diagnosis of serious illness
The Guaranteed Goal Plan Gives You
Lumpsum Option: Under this plan, the Guaranteed Maturity Benefit will be paid out on the maturity date.
Income + Lumpsum Option: A Guaranteed Survival Benefit and a Guaranteed Maturity Benefit will both be paid on the maturity date each year following the conclusion of the Premium Payment Term.
Pay what you want: Choose to pay a single premium with the lump sum option and the option of joint life, which are only available under the single premium payment option, or choose to pay for any of the plan selections over 5, 7, 10, or 12 years.
Additional Advantages to Increase Corpus:
1) A guaranteed addition of 5% of the total annualised premium paid to date is accumulated each year during the premium payment period.
2) Wealth additions ranging from 3.2% to 9% of the total annualised premium paid to date are accrued or paid each year after the premium payment period.
3) Greater Benefits with a Higher Premium
Protection: Protect against unforeseen events:
1) Purchase life insurance for the whole policy term.
2) You have the option to increase your protection with Accidental Death and Serious Illness rider coverage with Family Care and Health Care options, which includes a premium waiver in the case of a death or critical illness diagnosis.
Exclusion: Items that are not covered by the Guaranteed Goal Plan
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Exclusion of Suicide
The Policyholder’s Nominee or Beneficiary is entitled to 80% of the total Premium paid under the Policy up to the date of death or the Surrender Value available on the date of death, whichever is higher, provided the Policy is in good standing, if the Life Assured dies by suicide within twelve months of the risk beginning or the Date of Revival of the Policy, whichever occurs first.
There will be a waiting period if you select the health care benefit.
From the beginning of the policy or any subsequent resurrection, whichever occurs first, there is a 90-day waiting period. The whole amount of premiums paid will be repaid, and the insurance will be cancelled, in the event that a claim for a Health Care Benefit is made within the Waiting Period. All premium payments will be repaid if a Critical Illness arises within the waiting period, and the insurance will be cancelled.
There are critical illness exclusions if the Health Care Benefit is chosen.
There are critical illness exclusions if the Health Care Benefit is chosen. No premium waiver benefit will be provided if any of the conditions stated in the Exclusions section of the policy’s Term & Conditions directly or indirectly contribute to the development of the Critical Illness or make it worse. The full Sales Brochure/Policy document includes a list of exclusions.
Source-pnbmetlife official website
About PNB MetLife India
PNB MetLife India Insurance Company Limited is a joint venture between MetLife International Holdings Inc. and Punjab National Bank. The company offers a range of life insurance products and services to individuals and groups in India. It is headquartered in Mumbai, India.
Related Keweords: You should Know
- Life insurance: A contract in which an insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured person.
- Joint venture: A business relationship in which two or more parties agree to pool their resources to accomplish a specific task.
- MetLife: MetLife, Inc. is an American multinational insurance corporation.
- Punjab National Bank: Punjab National Bank is a state-owned financial services company based in New Delhi,
- Products and services: Goods or services offered by a company for sale.
- Individuals: A single human being as distinct from a group or organization.
- Groups: A collection of individuals or organizations brought together for a common purpose or set of goals.
FAQ about PNBMETALIFE
What types of life insurance products does PNB MetLife offer?
Answer- PNB MetLife offers a range of life insurance products including term insurance, endowment plans, money back plans, whole life plans, children’s plans and pension plans to suit the different needs and budget of customers.
Is PNB MetLife only available in India?
Yes, PNB MetLife is only available in India.
What is the process for purchasing a life insurance policy from PNB MetLife?
The process for purchasing a life insurance policy from PNB MetLife typically involves filling out an application form, providing personal information, and undergoing a medical examination (if required). The policy will be issued once the application is approved.
Does PNB MetLife offer any group insurance plans?
Yes, PNB MetLife offers group insurance plans for employers to provide coverage for their employees.
Is PNB MetLife a government-owned insurance company?
No, PNB MetLife is a joint venture between MetLife International Holdings Inc. and Punjab National Bank.
How does PNB MetLife differ from other life insurance providers in India?
PNB MetLife differs from other insurance providers in India by offering a range of products and services to individuals and groups, as well as being a joint venture between MetLife and Punjab National Bank.
Are there any exclusions or restrictions on coverage for PNB MetLife policies?
All insurance policies have exclusions and restrictions on coverage, and PNB MetLife policies are no different. Policyholders should carefully read and understand the terms and conditions of their policy before purchasing.
What are the benefits of a joint venture between MetLife and Punjab National Bank for PNB MetLife customers?
Answer: The joint venture between MetLife and Punjab National Bank allows PNB MetLife to offer customers a combination of global expertise and local knowledge, as well as a wider range of products and services.
What is the claim settlement process for PNB MetLife policies?
Answer: The claim settlement process for PNB MetLife policies typically involves submitting a claim form along with the required documentation, such as the policy document and death certificate. Claims are typically processed and settled within a specific time frame as outlined in the policy.
Are there any online services or tools available for PNB MetLife policyholders?
Answer: Yes, PNB MetLife offers a range of online services and tools for policyholders, such as online policy management, premium payment, and claim status tracking.