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    PNB MetLife Century Plan

    Individual, Non-Linked, Participating, Savings, Life Insurance Plan | UIN: _ _ _

    PNB MetLife Century Plan is created to provide a holistic solution for you to generate a regular income and to build a corpus to achieve the planned goals and secure your loved one’s future, without any compromises. Additionally, it also provides a waiver of premiums to ensure that your goals are not compromised in case of untimely demise.

    PNB MetLife Century Plan in a nutshell
    • Income & Protection for Whole Life
    • Guaranteed Lumpsum at Maturity
    • Waiver of Premium on Death under Family Care Benefit
    • Option to accumulate and partially or fully withdraw survival benefits
    With PNB MetLife Century Plan
    • Get income and protection for whole life
    • Leave a legacy for your loved ones
    • Get Guaranteed Cash bonus (if declared) @10% under Super Income option and @30% under Future Income option^
    • Ensure survival benefits continue to be paid even after death of the Life Assured and no future premiums are payable after death.
    • Safeguard your financial needs even after retirement
    • Enjoy the flexibility to accumulate the survival benefit payouts and withdraw as and when required

    ^ Minimum cash bonus is guaranteed @10% of Annualised premium throughout premium payment under Super Income Option for PPT 8 and above, @5% for PPT less than 8 & @30% of Annualised premium for Fixed Income Payout period under Future Income Option.

     

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    What you get

    1Upto age 80 or age 100 based on maturity option chosen for Super Income & Smart Income options.
    2Policyholder cannot choose the date preceding the due date of the income payout.

    What you don't get

    What you pay; What you get

    Future Income plan

    Pay for 15 years , Earn for 100 Years

    Smart Income plan

    Pay for 12 years , Earn for 100 Years

    Super Income plan

    Pay for 12 years , Earn for 100 Years

    Things You Need to know

    Expand All Collapse All

    What are the product benefits of the PNB MetLife Century Plan?

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    Death Benefit

    Death Benefit shall be equal to the following and payable as lumpsum:

    • Sum Assured on Death, plus;
    • Accrued cash bonuses, if not paid earlier, plus;
    • Accrued Simple Reversionary Bonus less Sum of all Fixed Incomes already paid (if applicable),
    • Interim Cash/Simple Reversionary Bonus (if any) plus
    • Terminal Bonus on death (if declared)

    Where,

    Sum Assured on Death shall be defined as higher of:

    • Basic sum assured (BSA), which is the absolute amount assured to be paid on death and defined as 10 times of Annualized Premium.
    • Annualized Premium multiplied by the Death Benefit Multiple (Please refer Product Brochure for Death Benefit Multiple table).

    Death Benefit shall not be less than 105% of Total Premiums Paid as on date of death.

    The policy terminates with the payment of Death Benefit except where Family Care Benefit is chosen.

    Family Care Benefit

    If Family Care Benefit option is chosen at the inception of the policy, then in case of Death of Life Assured, all future premiums payable (if any) shall be waived off. Sum Assured on Death shall be payable as lumpsum and all future Survival Benefits and Maturity Benefit as defined above will be paid to the nominee.

    Maturity Benefit

    This product provides option to choose the Maturity date to the policyholder as age 80 years or 100 years. On survival of the Life Assured till the Maturity Date (as chosen), provided that the Policy is in In-force Status, the policyholder will receive aggregate of:

    • Sum Assured on Maturity;
    • Accrued cash bonuses, if not paid earlier;
    • Fixed Income, if applicable and not paid earlier;
    • Terminal Bonus, if declared.

    Where,

    Sum Assured on Maturity is defined as sum of all Annualized Premiums paid during Premium Payment Term.

    Survival Benefit

    On survival of the Life Assured, provided that the Policy is in In-force Status and all due Installment Premiums have been paid, the following benefit will be payable:

    Option 1: Super Income - Cash bonuses (if declared) will be paid from first year or first month onwards, based on Income mode selected. Under this option, Cash Bonus (if declared) payable during the premium payment term shall be subject to a Minimum Guaranteed Cash Bonus rate as mentioned below

    Family Care Benefit Premium Payment Term
    Less than 10 years 10 years and above
    Without 5% 10%
    With 2% 5%

    Option 2: Smart Income - Cash bonuses (if declared) will be paid from first year or first month onwards, based on Income mode selected.

    Option 3: Future Income - Cash bonuses (if declared) will be paid from end of 15th policy year till maturity. Guaranteed cash bonuses @30% of Annualised premium will be paid during Fixed Income period. Simple reversionary bonuses (if declared) will accrue during the premium payment term and will be paid as Fixed Income over a Fixed Income period. Cash Bonus (if declared) payable during Fixed Income Payout Period shall be subject to a Minimum Guaranteed Cash Bonus rate as mentioned below.

    Family Care Benefit Premium Payment Term
    Less than 10 years 10 years and above
    Without 5% 10%
    With 2% 5%

    Other Benefits

    Flexibility to accumulate Survival Benefit payout There is an option with Policyholder to defer Survival Benefit Payouts and accrue them instead. The Policyholder can withdraw the accrued Cash Bonuses and/or Fixed Income partly/ fully at any point during the Policy Term.
    Flexibility to Choose mode of Survival Benefit payout There is an option to receive Survival Benefit Payouts as yearly, half yearly, quarterly or monthly installments at any point during the Point Term. The mode of Survival Benefit Payout as requested will be applicable from next Policy Anniversary.
    Flexibility to choose the date of survival benefit payout For Future Income Option: The selected date of Survival Benefit can be changed before the start of Survival Benefit payout

    For more details on the benefits please refer to the sales brochure or Product T&C.

    What are the eligibility criteria for PNB MetLife Century Plan?

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    Particulars Premium Payment Term Family Care Option Option 1: Super Income Option 2: Super Income Option 3: Future Income
    Policy Term All With/Without

    Maturity Option 1: 80 minus Age at entry
    Maturity Option 2: 100 minus Age at entry

    Premium Payment Term (years)

    Without

    5 to 10,12,15

    5 to 10,12,15

    8, 10,12,15

    With

    5 to 10,12,15

    5 to 10,12,15

    8, 10,12,15

    Minimum Age at Entry1 (years)

    All

    Without

    0 (30 days)

    All

    With

    18

    Maximum Age at Entry1 (years)

    5 to 9*

    Without

    55

    55

    55

    10,12 & 15

    60

    65

    60

    5 to 10,12 & 15

    With

    50

    50

    50

    Maturity Age1(years)

    All

    With/Without

    Maturity Option 1: 80 years; Maturity Option 2: 100 years

    Minimum Sum Assured (Rs.)

    5 to 9*

    With/Without

    6,00,000

    10, 12 & 15

    2,40,000

    Maximum Sum Assured (Rs.)

    All

    With/Without

    Base on Board Approved Underwriting policy

    Minimum Annualized Premium (Rs.)

    5 to 9*

    With/Without

    60,000

    10, 12 & 15

    24,000

    Maximum Annualized Premium (Rs.)

    All

    With/Without

    1,00,00,00,000 subject to maximum Basic Sum Assured limit as per Board Approved Underwriting Policy.

    How can I purchase PNB MetLife Century Plan?

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    You can purchase this plan offline in any of the following three ways:

    Disclaimer

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    As your trusted life insurance partner, PNB MetLife is with you amidst the current COVID-19 outbreak. Our policies also cover COVID-19 Claims. In case of a Death Claim, kindly submit the signed Claim Intimation Letter mentioning the policy number, brief of the insured event and other claim documents on the email mentioned herewith. Please write-in to us at claimshelpdesk@pnbmetlife.com or indiaservice@pnbmetlife.co.in. You can also call us on 1800-425-6969 for death claims intimations and for any queries on Monday - Saturday between 10:00 am - 7:00 pm.

    PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance PlansTerm PlanProtection PlansLong Term Savings Plans , Retirement Plans & Child Education Plan.

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