PNB MetLife Guaranteed Savings Plan

Individual, Non-linked, Non-Participating, Savings,

Life insurance plan

Benefits Guaranteed,
Dreams Protected

PNB MetLife India Insurance Company Limited, Registered office address: Unit No. 701, 702 & 703, 7th Floor, West Wing,
Raheja Towers, 26/27 M G Road, Bangalore - 560001, Karnataka. IRDAI Registration number 117. CI No:
U66010KA2001PLC028883. PNB MetLife Guaranteed Savings Plan is an Individual, Non-linked, Non-Participating,
Savings, Life insurance plan (UIN: 117N096V03). Please consult your advisor for more details. Please read this Sales
brochure carefully before concluding any sale. Tax benefits are as per the Income Tax Act, 1961, & are subject to
amendments made thereto from time to time. Please consult your tax consultant for more details. Goods and Services Tax
(GST) shall be levied as per prevailing tax laws which are subject to change from time to time. The marks “PNB” and
“MetLife” are registered trademarks of Punjab National Bank and Metropolitan Life Insurance Company, respectively. PNB
MetLife India Insurance Company Limited is a licensed user of these marks. Call us Toll-free at 1-800-425-6969. Phone:
080-66006969, Website: www.pnbmetlife.com, Email: [email protected] or Write to us: 1st Floor,
Techniplex-1, Techniplex Complex, off Veer Savarkar Flyover, Goregaon (West), Mumbai - 400062, Maharashtra. Phone:
+91-22-41790000, Fax: +91-22-41790203. AD-F/2019-20/0086.

BEWARE OF SPURIOUS / FRAUD PHONE CALLS!

• IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such
phone calls are requested to lodge a police complaint.
PNB METLIFE GUARANTEED SAVINGS PLAN HOW DOES THE PLAN WORK?
A Individual, Non-linked, Non-Participating, Savings, Life insurance plan Let’s take an example:

Happy & cherished moments spent with our loved ones are always remembered Amit, aged 30 years, opts for PNB MetLife Guaranteed Savings Plan and,
for a life time. And it is these small moments that add up to make our life’s journey • Selects premium payment term of 10 years and policy term of 20 years
happy and fulfilling.
• Opts for Sum Assured of Rs. 5,56,917 and pays yearly premiums of Rs. 50,000
These precious moments become more memorable when you are financially
(exclusive of taxes/cesses), assuming that he is in good health
equipped to enjoy them. Imagine if there was a way to guarantee this - a safe,
happy and financially secure future! • In this case, the premium rate is Rs. 95.78 per 1000 of Basic Sum Assured. The
PNB MetLife Guaranteed Savings Plan helps you to create a corpus to achieve applicable High Sum Assured discount is Rs. 6 per 1000 of Basic Sum Assured.
your short to long term goals as per your choice along with life cover to protect Hence, Basic Sum Assured is (1000 x 50,000) / (95.78-6) = Rs 5,56,917
your loved ones in your absence. This plan offers guaranteed benefits which • Guaranteed Additions accrue within the policy and are added at the end of the
include Guaranteed Additions on cumulative premiums. policy year which is 10% of sum of premiums paid throughout the Premium
You can avail additional protection through riders and protect your family against Payment Term of 10 years
financial losses incurred in case of accidental death and serious illnesses, at a
• At maturity, Amit receives, the Sum Assured on Maturity plus accrued
nominal cost.
Guaranteed Additions. The Sum Assured on Maturity is equal to 130% of Basic
Sum Assured.
• In the unfortunate event of his demise, his nominee receives a lump sum amount
WITH PNB METLIFE GUARANTEED SAVINGS PLAN as death benefit
• Secure your future with guaranteed returns on cumulative premiums
Scenario I: If Amit, i.e. the Life Assured, survives till maturity:
• Create a corpus to fulfil short term to long term goals as per your choice
• Guarantee your child’s higher education with guaranteed benefits at maturity
BENEFITS AMOUNT (RS.) Accrued Guaranteed
• Secure your family’s future with life cover for entire policy term
SUM ASSURED ON MATURITY Additions
7,23,992
KEY BENEFITS (130% OF BASIC SUM ASSURED FOR 10 PAY)

• Pay as you like: Choose to pay for 5, 7 or 10 years ACCRUED GUARANTEED ADDITIONS 2,75,000
TOTAL 9,98,992
• Maturity Benefit: Sum Assured on Maturity plus accrued Guaranteed Additions,
payable at the end of the policy term.Option to choose Policy Term of 10 years
(5 pay), 12 or 15 years (7 pay), 20 years (10 pay)
Guaranteed Additions of 10% of Sum Assured on
o Sum Assured on Maturity: Get 70% to 130% of Basic Sum Assured at cumulative premiums paid till date Maturity
maturity, based on your Premium Payment Term
o Guaranteed Additions: Get rewarded with yearly Guaranteed Additions
ranging from 5% to 10% of cumulative premiums, for the entire Premium
Payment Term, which are payable at maturity
• Protection: Year 1 5 10 15 20

o Get life cover for the entire policy term.

o Option to enhance your protection through Accidental Death and Serious
Illness rider coverage, at a nominal cost
Premium of Rs. 50,000 p.a. for 10 years
• Tax benefits: Avail tax benefit on premiums paid and benefits received, as per
prevailing tax laws
Scenario 2: In case of unfortunate demise of Amit in the eighth policy year, his
nominee receives a lump sum benefit of Rs 9,03,992 and the policy terminates. The
BENEFITS IN DETAILS
lump sum benefit is equal to Sum Assured at death* (Rs 7,23,992) plus accrued Maturity Benefit
Guaranteed Additions (Rs 1,80,000) as on date of death.
On survival of Life Assured till the end of the policy term, Sum Assured on Maturity
*Where Sum Assured at death is the highest of Annualised Premium x 10, 105% of plus accrued Guaranteed Additions will be paid, provided all due premiums have
total premiums paid up to the date of death and Basic Sum Assured (BSA). Please been received.
refer to the section on death benefit for further details.
o Sum Assured on Maturity: The absolute amount of benefit guaranteed to be
paid on maturity and is defined as a percentage of Basic Sum Assured (BSA) and
Premium Payment Type 5 Pay 7 Pay 7 Pay 10 Pay varies with Premium Payment Type as mentioned below
Premium Payment Term (years) 5 7 7 10
Premium Payment Type 5 Pay 7 Pay 10 Pay
Policy Term (years) 10 12 15 20 Sum Assured on Maturity
70% 100% 130%
(% of Basic Sum Assured)
Premium Payment Type Age (Years)
5 Pay 8 o Guaranteed Additions: Guaranteed Additions will be added at the end of each
Minimum Age at entry* Policy Year during the Premium Payment Term provided all due Premiums have
7 Pay 3
been received for that Policy Year. If only a part of the Premiums, due to be
10 Pay 3 received in that Policy Year are received, then Guaranteed Additions will accrue
Maximum Age at entry* 60 Years only in proportion with the Premiums received for the Policy Year
Premium Payment Type Age (Years) Guaranteed Additions = Guaranteed Addition rate X Sum of all premiums
Maximum age at 5 Pay 70 received till date
maturity* 7 Pay 75 These premiums exclude amounts paid towards underwriting extra premium,
10 Pay 80 applicable taxes and cesses
Premium Payment Type Annual Premium (in Rs.) Guaranteed Additions rates depend on the Premium Payment Type as
5 Pay 46,480 mentioned below:
Minimum Annual
7 Pay For Term 12 yrs: 24,970 Guaranteed Addition rates applied to cumulative
Premium
For Term 15 yrs: 21,068 Premium Payment Type premiums at the end of each policy year, only
10 Pay 14,178 during Premium Payment Term
Maximum Premium As per Board approved underwriting policy 5 5%
Premium Payment Type Sum Assured (in Rs.) 7 7%
5 Pay 4,00,000 10 10%
Minimum Sum Assured
7 Pay 2,00,000
10 Pay 1,50,000 Death Benefit

Maximum Sum Assured As per Board approved underwriting policy There are 2 multiples which can be chosen at the inception of the policy and it
cannot be changed during the term of the policy
Age at entry Applicable multiple
Multiple of Premium 45 years and above 10x or 7x Multiple of Annual
Age at entry Multiple
Less than 45 years 10x Premium applied
Premium Payment modes Yearly / Half Yearly / Monthly 45 years and above 7x or 10x 7 or 10
Less than 45 years 10x 10
*All reference to age are as on age last birthday
In case of unfortunate death of the Life Assured during the policy term provided the Flexible premium payment modes & modal factors
policy is still in force on the date of death, the nominee shall receive Sum Assured on
You may elect to pay premiums by Yearly, Half Yearly, or Monthly mode subject to
Death plus accrued Guaranteed Additions as on date of death
the minimum annualised premium under each mode.
Where Sum Assured on Death is the highest of;
Factors on premium will be applicable as per the table below:
o Annualised Premium x Multiple of Annual Premium, as per the Multiple Option
chosen Premium Paying Mode Modal Factors

o 105% of total premiums paid up to the date of death Half Yearly 0.5131

o Basic Sum Assured (BSA) Monthly 0.0886

where Annualised Premium shall be the premium payable in a year chosen by the Alterations between different modes of premium payment is allowed at any policy
policyholder, excluding taxes, rider premiums, the taxes, rider premiums, underwriting anniversary on request
extra premiums and loadings for modal premiums, if any.
High Sum Assured Discount
OTHER FEATURES You will be eligible for a premium discount in case of opting high Sum Assured as
Loans below.

You may take a loan against your policy once it acquires a Surrender Value. The Premium Basic Sum Assured band (Rs. in Premium discount (Rs. Per
maximum amount that can be availed is 90% of Special Surrender Value of your Payment Type lakhs) 1000 Basic Sum Assured)
policy at the end of the relevant Policy Year less any unpaid premiums for that year Less than 7 Nil
and loan interest accrued, if a loan is already existing on the policy, to the end of that Equal to or more than 7 and less
year. While you avail the loan, your Policy must be assigned in favor of the Company 1
than 10
to the extent of the outstanding loan. The rate of interest for your loan amount shall 5 Pay
Equal to or more than 10 and less
be prescribed by the Company from time to time. The rate of interest is taken as the 2
than 25
10 Year G-Sec rate plus 250 basis points rounded up to nearest 50 basis points. The
Equal to 25 and above 3
prevailing interest rate for 2016 is 10.5% p.a. and Company reserves the right to
change this interest rate, subject to prior approval from IRDAI. Please contact us to Less than 3.5 Nil
know the prevailing rate of interest. Equal to or more than 3.5 and less
2
than 5
Riders
Equal to or more than 5 and less
To safeguard your family against certain unfortunate events, you can opt for the 7 Pay 5
than 10
following riders at a nominal cost:
Equal to or more than 10 and less
6
than 25
PNB MetLife Accidental This Rider provides additional protection over and above
Death Benefit Rider Plus the death benefit under this Policy in the event of the Equal to 25 and above 7
(UIN: 117B020V03) death of the Life Assured in an Accident Less than 3 Lakhs Nil
This Rider provides additional protection over and above Equal to or more than 3 and less
PNB MetLife Serious 3
the Death Benefit under this Policy in the event of the than5
Illness Rider (UIN:
Life Assured being diagnosed with any of the critical 10 Pay Equal to or more than 5 and less 10 6
117B021V03)
illnesses listed in the Rider Equal to or more than 10 and less
8
Please refer to the rider brochure and rider terms and conditions for further details. than 25

o Rider Sum Assured shall be subject to Sum Assured of base policy Equal to 25 and above 10

o Premium for all the riders put together shall be subject to a ceiling of 30% of
the premium of the basic product.
Grace period Revival
Grace period is time granted from the due date for the payment of premium, without You can revive your lapsed / Paid-up policy and the riders for its full coverage within
any penalty or late fee, during which time the policy is considered to be in-force five years from the due date of the first unpaid premium but before policy maturity,
with the risk cover without any interruption, as per the terms & conditions. The by paying all outstanding premiums together with the interest, as applicable. The
grace period for payment of the premium is 15 days, where the policyholder pays the interest for revival of the policy will be charged at market related rates set by the
premium on a monthly basis and 30 days in all other cases. Company from time to time.
Premium Discontinuance Please contact us to know the prevailing rate of interest for revival of policies.
If you discontinue paying premium, your policy will be Lapsed or Paid-Up Revival of the policy and riders, if any, is subject to Board approved underwriting
o Lapse policy. A surrendered policy cannot be revived.

If the premiums for first two years are not paid in full, the policy lapses at the end of Termination
the grace period and the risk cover, and rider benefits, if any, will cease immediately. The Policy will be terminated on the earliest of the following:
o Paid-Up Value o The date of Payment of Surrender Value
If the policy has acquired a surrender value and no future premiums are paid, you o At the expiry of the Revival period, when the Policy has not been reinstated and
shall have the option to either surrender the policy or continue it as a Paid-Up policy provided the said Policy has not acquired any Paid-Up Value
with reduced benefits. o Upon payment of death claim or maturity claim amount
If you continue the policy as a Paid-Up policy the reduced benefits are payable as
given below: TERMS & CONDITIONS
Free look period
Benefits Payout
Please go through the terms and conditions of your Policy very carefully. If you have
Sum Assured on Death X Paid-up factor; Plus accrued
Death Benefit any objections to the terms and conditions of your Policy, you may cancel the Policy
Guaranteed Additions, if any.
by giving a signed written notice to us within 15 days (30 days in case the Policy is
(Sum Assured on Maturity + Sum of all Guaranteed Additions sold to You through Our Website) from the date of receiving your Policy, stating the
Maturity Benefit
to be added during the policy term) X Paid-up factor reasons for your objection and you will be entitled to a refund of the premium paid,
subject to a deduction of proportionate risk premium for the period of cover, stamp
Paid- up factor = Number of Instalment Premiums paid / Number of Instalment duty and/or the expenses incurred on medical examination (if any).
Premiums payable during the Premium Payment Term.
Tax benefits
Once the policy becomes paid-up,
Tax benefits under this plan are available as per the provisions and conditions of the
• No further Guaranteed Additions shall accrue to the policy.
Income Tax Act, 1961 and are subject to any changes made in the tax laws in future.
• Rider benefits, if any, will cease immediately once the policy acquires Paid-up Please consult your tax advisor for advice on the availability of tax benefits for the
status. premiums paid and proceeds received under the policy.
Surrender Value Suicide exclusions
If all premiums have been paid for at least two consecutive years, the policy shall If the Life Assured’s death is due to suicide within twelve months from the date of
acquire a guaranteed surrender value, to which shall be added the surrender value commencement of the risk or from the Date of Revival of the Policy as applicable,
of any guaranteed additions already accrued to the policy. If your Policy has the Nominee or beneficiary of the Policyholder shall be entitled to , 80% of the total
acquired a Surrender Value, and you choose to discontinue your Policy, you will be Premium paid under the Policy till the date of death or Surrender Value available as
entitled to the Surrender Value, which is higher of the Guaranteed Surrender Value on the date of death, whichever is higher, provided the Policy is in Inforce status. We
(GSV) or Special Surrender Value (SSV) of the policy. The policy will be terminated shall not be liable to pay any interest on this amount.
once it is surrendered and cannot be reinstated.
Nomination
FRAUD AND MISREPRESENTATION
Nomination should be in accordance with provisions of Section 39 of the Insurance
Act 1938 as amended from time to time. Nomination of this Policy is not applicable • Treatment will be as per Section 45 of the Insurance Act, 1938 as amended from
if the Policy has been effected under Section 6 of the Married Women’s Property time to time.
Act 1874
• Please read this Sales brochure carefully before concluding any sale.
Assignment
• This product brochure is only indicative of terms, conditions, warranties and
Assignment should be in accordance with provisions of Section 38 of the Insurance exceptions contained in the insurance policy. The detailed Terms and Conditions
Act 1938 as amended from time to time. Assignment of this Policy is not applicable are contained in the Policy Document
if the Policy has been effected under Section 6 of the Married Women’s Property
Act 1874.

ABOUT PNB METLIFE

PNB MetLife India Insurance Company Limited (PNB MetLife) is one of the leading
life insurance companies in India. PNB MetLife has as its shareholders MetLife
International Holdings LLC (MIHL), Punjab National Bank Limited (PNB), Jammu &
Kashmir Bank Limited (JKB), M. Pallonji and Company Private Limited and other
private investors, MIHL and PNB being the majority shareholders. PNB MetLife has
been present in India since 2001.
PNB MetLife brings together the financial strength of a leading global life insurance
provider, MetLife, Inc., and the credibility and reliability of PNB, one of India's oldest
and leading nationalised banks. The vast distribution reach of PNB together with the
global insurance expertise and product range of MetLife makes PNB MetLife a
strong and trusted insurance provider.
For more information, visit www.pnbmetlife.com

EXTRACT OF SECTION 41 OF THE INSURANCE ACT, 1938, AS

AMENDED FROM TIME TO TIME STATES
(1) No person shall allow or offer to allow, either directly or indirectly, as an
inducement to any person to take out or renew or continue an insurance in
respect of any kind of risk relating to lives or property in India, any rebate of the
whole or part of the commission payable or any rebate of the premium shown on
the policy, nor shall any person taking out or renewing or continuing a policy
accept any rebate, except such rebate as may be allowed in accordance with the
published prospectuses or tables of the insurer
(2) Any Person making default in complying with the provisions of this section shall
be punishable with fine which may extend to ten lakh rupees