PNB MetLife on February 16 launched PNB MetLife Guaranteed Goal Plan, a savings-oriented life insurance scheme that offers guaranteed returns and allows for customisation to subscribers’ savings schedule.
The scheme allows customers to design their plan as they have the option to choose the duration of premium payment from a single premium all the way up to 12 years, the insurer said.
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"With the introduction of this plan, we endeavour to provide customers with an easy solution that enables savings, while at the same time providing protection, helping our customers to protect and provide financial support to dream bold," PNB MetLife MD Ashish Kumar Shrivastava said in a press release.
Customers can go for a guaranteed lump-sum payout on maturity or a structure that pays a guaranteed income after completion of the premium payment term and a lump-sum at maturity.
The new scheme comes with built-in life insurance cover till maturity, waiver of premium on death or diagnosis of critical illness and the option of accidental death and critical illness.
The benefits are tax-free subject to provisions and conditions of the Income Tax Act, 1961.
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