PNB MetLife Grameen Ashray Plan
This is one of the ideal plans to ensure a safe and secure life for your loved ones in the event that you are not around anymore. It is a simple micro insurance. It is a non-participating plan that provides life cover at a nominal cost. It is affordable, convenient and requires simple documentation.
Features of PNB MetLife Grameen Ashray
- The minimum premium offered for single premium is Rs.314 and for regular premium is Rs.69.
- The minimum sum assured is Rs.5,000 and the maximum sum assured is Rs.50,000.
- Plan offers the convenience of paying a single premium or regular premium.
- 15 days free look period is offered and 30 days for policy solicited through distance marketing channels to return the policy if you are not happy with it.
- You get 90 days grace period to make the premium payment. The policy will continue during the grace period.
Benefits of MetLife Grameen Ashray
- In the event of your death when the policy is in coverage, your nominee will receive the sum assured that you have chosen.
- Single premium policies can be surrendered after completion of 2 years from the date of commencement.
- You can avail tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
Eligibility Criteria of PNB MetLife Grameen Ashray
The eligibility criteria for this plan PNB Metlife Term Plan are as follows:
- The minimum age at entry is 18 years and the maximum age at entry is 55 years.
- The maximum age at maturity is 60 years.
- The coverage term is 5 years.
Example of PNB MetLife Grameen Ashray
Mr.John is a 35 year old professional and he has taken a MetLife Grameen Ashray for sum assured Rs.10,000 for a coverage term of 5 years. He paid an affordable regular premium or Rs.147. In the event he dies during the policy term, his nominee will get Rs.10,000.
FAQs on PNB MetLife Grameen Ashray Plan
- What are the coverage term offered in this plan?
The coverage term offered for this plan is 5 years.
- What is the sum assured offered?
The minimum sum assured offered is Rs.5,000 and the maximum sum assured offered is Rs.50,000.
- What are the death benefits offered by MetLife Grameen Ashray
In the event of your death when the policy is in coverage, your nominee will receive the sum assured that you have chosen.
- What is the minimum premium that I can pay for MetLife Grameen Ashray?
For a regular plan the minimum premium you can pay is Rs.69 and for the single premium plan you have to pay a minimum of Rs.314.
- Can I surrender my MetLife Grameen Ashray policy?
Yes, you can surrender the policy if you have chosen the limited premium payment option.
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