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PNB MetLife Immediate Annuity Plan, Policy, Premium and Maturity Calculator

PNB MetLife Immediate Annuity Plan, Policy, Premium and Maturity Calculator - Post retirement, life undergoes many changes. However, to ensure that you can enjoy the same lifestyle which you had before retiring, it is essential that you have some form of financial security to provide for it. A regular income post retirement can take care of your lifestyle needs, leading you to enjoy life the same way as before. The MetLife Immediate Annuity Plan has been designed keeping your comforts in mind. With this post retirement plan, you can ensure a comfortable lifestyle for yourself and your loved ones by availing a retirement plan, specifically tailored to address your needs. Invest in this plan and enjoy a guaranteed income for the rest of our life.

Eligibility - PNB MetLife Immediate Annuity Plan and Policy

Boundary Conditions
Standalone Annuity
Tied Annuity
Min. Age at Entry
Single Life options:30 years. Joint Life options (primary and secondary lives): 40 years.
Single Life Options – 0 years Joint Life Options (primary and secondary lives) – 18 years
Max Age at Entry
75 years
90 years (in case age of the nominee / beneficiary of your deferred pension policy is beyond 90 years, the annuity rates applicable will be the same as those applicable to that of age 90)

Key Features - PNB MetLife Immediate Annuity Plan and Policy

Type of Plan
Non-linked Traditional Immediate Annuity Plan
Plan Basis
Individual
Premium Payment Frequency
Yearly, Half-yearly, Quarterly and Monthly
Free-look Period
15 day Free-look period from the date of receipt of the Policy document.
Nomination
Nomination allowed but should be in accordance with the provisions under Section 39 of the Insurance Act 1938. Nomination is not allowed if the policy has been brought into effect under Section 6 of the Married Women’s Property Act 1874.
Surrender Value
No Surrender Value Benefit
Policy Loan
Not allowed

Key Benefits - PNB MetLife Immediate Annuity Plan and Policy

Some of the key benefits of the MetLife Immediate Annuity Plan are as follows:

  • With the MetLife Immediate Annuity Plan, you needn’t worry about making recurring payments. You only need to make a payment once and you are ensured to receive a guaranteed income for life.
  • The fear always lurks around, not knowing what will happen to your spouse if you are no longer around. With the MetLife Immediate Annuity Plan, you can ensure a lifetime income for your spouse so they can manage comfortably later on.
  • With the MetLife Immediate Annuity Plan, it is easy to ensure that your family stays financially stable with the return on the invested capital, after your demise.
  • As years roll by, expenses are only bound to go up. The MetLife Immediate Annuity Plan takes are of rising expenses providing you with an increasing income.  
  • As a holder of the MetLife Immediate Annuity Plan, you are also eligible to avail tax benefits under the Income Tax Act of 1961.
  • You can choose from a variety of payout options like monthly, quarterly, half yearly and yearly.

Premium Purchase & Annuity - PNB MetLife Immediate Annuity Plan and Policy

Minimum Premium (purchase price)

Increasing Life Annuity & Increasing Life Annuity with return of Purchase Price – Rs 5,00,000

Other Options – Rs 3,00,000

Not Applicable
Minimum Annuity Payout
Rs 1,000 per month
Maximum Annuity Payout
Subject to age of entry of Annuitant @ purchase price.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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PNB MetLife Money Back Plan
PNB MetLife Smart Child Plan
PNB MetLife College Plan
PNB MetLife Smart Platinum Plan
PNB MetLife Easy Super Plan
PNB MetLife Bhavishya Plus Plan
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PNB MetLife Guarateed Savings Plan
PNB MetLife Money Back Plan
PNB MetLife Bachat Yojana
PNB MetLife Guaranteed Income Plan
PNB MetLife Endowment Savings Plan
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PNB MetLife Bhavishya Plus
PNB MetLife Wealth Insurance Plans
PNB MetLife Mera Wealth Plan
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PNB MetLife Smart Platinum
PNB MetLife Smart One
PNB MetLife Easy Super

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PNB MetLife Money Back Plan
PNB MetLife Bachat Yojana
PNB MetLife Wealth Plan
PNB MetLife Immediate Annuity Plan
PNB MetLife Retirement Savings Plan
PNB MetLife Monthly Income Plan-10 Pay
PNB MetLife Dhan Samriddhi Plan
PNB MetLife Smart Platinum
PNB MetLife Easy Super
PNB MetLife Group Insurance
PNB MetLife Endowment Savings Plan
PNB MetLife Pradhan Mantri Jeevan Jyoti Bima Yojana
PNB MetLife Unit Linked Employee Benefit Plan
PNB MetLife Traditional Employee Benefits Plan
PNB MetLife Superannuation
PNB MetLife Loan and Life Suraksha
PNB MetLife Group Term Life Plus
PNB MetLife Complete Care Plus
PNB MetLife Retiremet Plans
PNB MetLife Rural Plans
PNB MetLife Bachat Yojana
PNB MetLife Bhavishya Plus
PNB MetLife Grameen Ashray