PNB MetLife Endowment Plans

Here is a list of the benefits of the PNB MetLife Endowment Plans. 

• Death & Survival Benefits 

One of the biggest benefits of PNB MetLife endowment plans is that they provide dual benefits of financial protection and savings. In the unfortunate event of the policyholder’s death during the policy term, the listed beneficiaries receive a fixed sum assured as the death benefit. Furthermore, if the policyholder survives the entire policy duration, the sum assured is paid out as a survival benefit which can contribute to long-term savings. 

• Higher Returns 

Another major benefit of PNB MetLife Endowment Plans is that they are designed to encourage disciplined savings, which allows the policyholder to build a substantial corpus for their financial needs. Remember that the survival benefit payout in an endowment plan is typically higher than that of other insurance options, such as term plans, which makes it an attractive choice for seeking both protection and savings growth. 

• Premium Payment Frequency 

One of the highlighting aspects of the endowment plans by PNB MetLife is that they offer flexibility in premium payment options which allow the policyholder to choose a payment schedule that best suits their financial situation. Remember that the premiums can be paid monthly, quarterly, semi-annually, or annually which provides convenience and accommodates multiple income patterns. 

• Flexibility in Cover 

With PNB MetLife endowment plans, policyholders can enhance their basic life cover by adding optional riders such as permanent riders, accidental death, or critical illness coverage. Some of the endowment plans also offer premium waivers in the event of critical illness or permanent disability, which ensures continuous coverage without financial strain. 

• Tax Benefits 

Last but not least, PNB Metlife endowment plans offer significant tax benefits under Section 80C and Section 10 (10D) of the Income Tax Act of 1961. Remember that the premium paid towards the policy is eligible for tax deductions, whether as survival or death benefits and is exempt from taxation. When you invest in endowment plans, you can easily maximize these tax advantages, which may contribute to enhanced savings.

Listed below are the things to know before buying an endowment plan. 

• Try to Plan Early 

One of the major aspects to consider before buying an endowment plan from PNB MetLife insurance is that you should start early. Remember that buying a policy sooner means a longer investment period which can lead to greater returns. If you start early, you will likely build a larger savings pot to achieve your long-term financial goals. 

• Consider a Plan With Riders

Another major aspect to consider is that you should choose a plan that offers additional riders to enhance your coverage. While riders can increase your premium, they provide extra benefits that can make the policy more valuable and comprehensive. 

• Don’t Forget to Check Flexible Premium Payment Options

When choosing an endowment plan from PNB MetLife, consider your income. If you have a steady income, you might prefer monthly or annual payments. For those with irregular incomes, limited or single premium payments can be an ideal choice. 

• Understand Guaranteed & Non-Guaranteed Returns 

Before you run into any plan, ensure you choose a plan that comes with guaranteed additions or bonuses. Remember that these are extra amounts added to your plan each year by the insurer and are paid out at maturity or upon the insured’s death which may enhance your overall benefit.