PNB Metlife Guaranteed Goal Plan: All You Need to Know, Benefits, Exclusion, Etc

The PNB MetLife Guaranteed Goal Plan is a savings scheme that allows you to save consistently while receiving guaranteed returns. The PNB MetLife Guaranteed Goal Plan protects your objectives from unanticipated life catastrophes while giving you total control and freedom over how you save. It was created with the goal of allowing you to enjoy the freedom of life while also easing your concerns about the future. Customers can customize their plan by selecting a premium payment period ranging from a single premium to 12 years. The new plan includes built-in life insurance coverage till maturity, premium waivers in the event of death or a critical illness diagnosis, and the option of accidental death and critical illness.

PNB Metlife Guaranteed Goal Plan offers

• Benefits can be received as lump payments or guaranteed income.
• Increase your investment portfolio with Guaranteed Additions and Wealth Additions.
• Higher benefits for higher premium payment
• Flexibility to accumulate survival benefits & receive pay-outs on the date of your choice
• Life cover for the entire policy term
• **Waiver of premium on death or diagnosis of critical illness with Family Care and Health Care options

 

Under the Guaranteed Goal Plan You Get

Lumpsum Option: The Guaranteed Maturity Benefit will be paid at the maturity date under this plan.

Income + Lumpsum Option: Every year after the Premium Payment Term ends, a Guaranteed Survival Benefit will be paid, as well as a Guaranteed Maturity Benefit on the maturity date.

Pay as you like: Choose to pay for any of the plan choices over 5, 7, 10, or 12 years, or pay a single premium with the lump sum option and the option of Joint Life accessible exclusively under the single premium payment option.

Additional benefits to boost your corpus:
1) Every year during the premium payment period, a guaranteed addition of 5% of the total annualized premium paid to date is accumulated.
2) Every year after the premium payment period, wealth additions ranging from 3.2% to 9% of the total annualized premium paid to date are accumulated or paid.
3) Higher Benefits for higher premium payment

Protection: Protect yourself against the unforeseen events:
1) Get life cover for the entire policy term.
2) With Family Care and Health Care choices, you can get a premium waiver in the event of death or a critical disease diagnosis, as well as the opportunity to increase your protection with Accidental Death and Serious Illness rider coverage.

 

Exclusion : Things you don't get under the Guaranteed Goal Plan

Suicide Exclusion

If the Life Assured dies by suicide within twelve months of the risk beginning or the Date of Revival of the Policy, whichever comes first, the Policyholder's Nominee or Beneficiary is entitled to 80% of the total Premium paid under the Policy until 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 you choose the Health Care Benefit, you will have to wait a certain amount of time

A 90-day waiting period applies from the policy's start or any future resurrection, whichever comes first. If a claim for a Health Care Benefit is filed within the Waiting Period, the whole premiums paid will be returned, and the policy will be terminated.

If a Critical Illness develops during the Waiting Period, all premiums paid will be reimbursed, and the policy will be terminated.

If the Health Care Benefit is selected, there are exclusions for critical illnesses

If the Critical Illness is caused or worsened directly or indirectly by any of the circumstances listed in the Exclusions section of the policy's Term & Conditions, no premium waiver benefit will be paid. Exclusions are detailed in the comprehensive Sales Brochure/Policy document.

Source-pnbmetlife official website