PNB MetLife launches Super Saver Plan
Tailor-made plan to offer dual benefits of Protection and Wealth Creation
PNB MetLife India Insurance Company Limited (PNB MetLife), one of the top 10 private life insurance companies in India (fiscal 2019, Source- CRISIL) has launched a new non-linked, participating life insurance plan, PNB MetLife Super Saver Plan.
Indian economy has grown at rapid pace in the last few decades and disposable incomes of common Indians have increased significantly. With the increased incomes and improved lifestyles, individuals are aspiring higher and planning bigger goals. PNB MetLife Super Saver Plan is designed to assist policyholders save for these life goals in a systematic manner. The life insurance coverage along with waiver of premium option safeguards the family in case of unfortunate demise of the policyholder. Moreover, the plan also comes with a cash bonus option which provides intermediate liquidity.
Speaking on the launch, Mohit Garg, Head – Products, PNB MetLife said, “At PNB MetLife, we design our products catering to various financial needs of our customers and partner with them for their ‘Circle of Life’ or at different stages of life, with products catering to Child Education, Family Protection, Long Term Savings and Retirement. In the world of uncertainties, protection of financial goals is an important step in one’s financial planning journey. The PNB MetLife Super Saver Plan addresses this concern of uncertainty and provides dual benefit of life insurance protection and wealth creation. Thus, aligned to our brand ethos ‘Milkar Life Aage Badhayein’, we are helping our customers to fulfil their aspiration of building a secured future for their family.”
Product Features
- Get higher returns with higher equity participation. PNB MetLife Super Saver plan is part of Par (Life) fund. Up to 20% of the premiums received under this product can be invested in equities.
- Guaranteed Maturity Benefit: Sum assured on maturity as a lump sum at the end of the policy term.
- Flexible Premium Payment Option –Premium payment options of 5, 7, 10, 12 or 15 years.
- Flexibility to choose bonus payout options –
- Accumulation: Simple reversionary bonus, if any, accumulated throughout the policy term and paid on maturity OR
- Liquidity through cash bonuses, if any: Simple reversionary bonus, if any, accrues during premium payment term and paid on maturity PLUS Cash bonus, if any, is paid every year after premium payment term.
- Protection:
- Life cover for the entire policy term
- Protection to the family’s future even in case of unfortunate demise of the policyholder with no future premiums payable after the death of the policyholder through ‘Savings + Family Care’ option
- Protection of the financial goals of the policyholder against illnesses with Waiver of Premium on 35 critical illnesses
- Additional cover available through an accidental death and serious illness riders, at a nominal cost
PNB MetLife launches Super Saver Plan
- Tax benefits: Tax benefits available on premiums paid and benefits received, as per prevailing tax laws
- sale.
