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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 Junior Money Back
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Plan Nature
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TRADITIONAL
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Plan Category
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Money Back
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UIN No.
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117N006V01
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About Plan
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A money back plan that combines savings and security. Your child's well-being is your highest priority. So we offer you a money back plan which provides guaranteed periodic survival benefits at the end of 5, 10 & 15 years, along with guaranteed growth of your savings.
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Minimum Entry Age
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0 years.
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Maximum Entry Age
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14 years.
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Maximum Maturity Age
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20 years.
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Premium Paying Term
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20 years.
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Minimum Premium
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Rs.5,000
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Minimum Sum Assured
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Rs.50,000.
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Maximum Sum Assured
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No Limit.
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Benefits
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| Particulars | Description |
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Maturity Benefits
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On maturity, the Life Insured will receive the Survival Benefits plus the Guaranteed Addition.
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Death Benefits
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In the event of death of the Person Insured, the Sum Assured along with the Guaranteed Additions are payable.The policyholder is entitled to Guaranteed Additions of Rs. 100/ per Rs. 1000/- Sum Assured for each completed year.If death occurs before age 7, then the Death Benefit is equal to the return of premiums plus interest on premiums.
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Survival Benefit
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At the end of 5 years 20% of Sum Assured At the end of 10 years 20% of Sum Assured At the end of 15 years 20% of Sum Assured Upon survival to maturity 40% of Sum Assured plus total Guaranteed Additions
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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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Guaranteed Survival Benefit: Payment of 20% of Sum Assured every year starting from 5th year up to maturity.
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Guaranteed Maturity Benefit: - Guaranteed payment of 40% of Sum Assured. - Guaranteed addition of 10% of Sum Assured every year up to maturity.
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Guaranteed Death Benefit: Guaranteed payment of Sum Assured along with guaranteed additions (accrued till that time). This is paid over and above the survival benefit payments made already.
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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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