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Insurance Company
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PNB MetLife India Insurance Company Ltd
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Plan Name
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PNB MET Mortgage Protector SP/Limited Pay (MRTA)
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Plan Nature
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TRADITIONAL
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Plan Category
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Protection
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UIN No.
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117N007V01
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About Plan
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In simple words,Met Mortage is a loan protector for all loans taken for any period above 5 years.This plan is not just for home loans,but every other kind of loan that you and I take.This unique plan is a decreasing term insurance with single and limited premium options.The policy covers you for an amount equal to the outstanding loan.In case of an unfortunate event of death of the life insured,it will pay out the outstanding loan amount.
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Minimum Entry Age
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18 Years
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Maximum Entry Age
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60 years
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Maximum Maturity Age
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65 Years
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Benefits
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| Particulars | Description |
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Death Benefits
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In the unfortunate event of death of the life insured, the outstanding loan amountis payable to the beneficiary.
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Loan against policy
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It protects your family against the burden of a loan; family can enjoy the comforts and luxuries without a worry.It provides you protection for all kinds of loans taken for a period above 5 years.Limited premium pay plan for loans above 5 years.
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Surrender Benefit
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For Met Mortgage Single Premiums: In the event of the pre-payment of the mortgage loan, the guaranteed surrender value will become payable. The guaranteed surrender value is the specified percentage of the single premium on a sliding scale. For Met Mortgage Limited Pay: There is no guaranteed surrender value applicable for this option.
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Tax Benefits
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| Section | Description |
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SEC 80 C
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Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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Met Mortgage Protector is a loan protector for all loans taken for any period above 5 years. This plan is not just for home loans, but every other kind of loan that you and I take.This unique plan is a decreasing term insurance limited premium pay plan. The policy covers you for an amount equal to the outstanding loan. In case of an unfortunate event of death of the life insured, it will pay out the outstanding loan amount.
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- It protects your family against the burden of a loan; your family can enjoy thecomforts and luxuries without a worry.- It is an affordable insurance plan that covers the risk of life.- It provides you protection for all kinds of loans taken for a period above5 years.- It is a decreasing term insurance to protect your dependents.- Limited premium pay plan for loans above 5 years.- You get a limited premium payment term, restricted to two-thirds of the loan period.- You can avail of tax benefits as applicable.- And lastly, you can be assured that the asset you have created stays with your family.
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In the unfortunate event of death of the life insured, the outstanding loan amount is payable to the beneficiary.
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11-Aug-09
11:59
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MetLife enters into health insurance biz
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25-Jun-09
11:51
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MetLife is keen on raising stake in its Indian venture to up to 49%
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12-Mar-09
10:26
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20 new offices IN northern region : MetLife
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20-Jan-09
12:50
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Private insurers see market share rise to 62%
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14-Jan-09
10:20
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MetLife opens 12 new offices in Kerala
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18-Dec-08
12:40
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Insurance spawns a spurt in jobs
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16-Dec-08
11:23
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Metlife may re-launch traditional products
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