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Launch Date UIN Status
6/2/2017  117N081V03 Active

About PNB MetLife Money Back plan

The PNB MetLife Money Back plan is a non-linked, non-participating endowment life insurance plan. One of the best features of this money-back plan is that it provides money-back at regular intervals of time along with protection (death cover) in case of your untimely demise.

Let us understand this plan in brief before getting into its details:

Modes of Payment

  • Half-yearly
  • Yearly
  • Quarterly
  • Monthly
  • Payroll Savings Program

Claim Settlement Ratio of the Insurer


USPs of the Policy

  • Regular survival benefits of 10% of Sum Assured payable from 5th policy year to 9th policy year
  • Lump sum of 60% of sum assured payable at maturity
  • In case of unexpected death of life insured, a lump sum death benefit will be paid irrespective of the survival benefits already paid
  • Tax benefits on the policy as per prevailing tax laws in India

Bonus Rate



  • At INR 95,730 premium and for a policy term of 10 years, the policyholder stands to receive 60% of the sum assured, that is, INR 6,00,000 on maturity.
  • A standard sum assured of INR 10,00,000 would be paid to the nominee in case of death.

How Does the Plan Work?

  • The individual decides the sum assured (the minimum sum assured is INR 2,50,000 and the maximum is INR 5 crore)
  • The individual also chooses the mode of paying premiums (monthly, quarterly, and so on) for a fixed term of 10 years
  • Based on the age of the individual and the decided sum assured, the annual premium will be calculated

Now, let us understand the various benefits offered with this plan:

  • Survival Benefits: The individual will receive 10% of the sum assured as survival benefit from the 5th to the 9th policy year.
  • Maturity Benefits: In case the individual survives till the maturity of the policy, s/he will receive 60% of sum assured.
  • Death Benefits: In case of the unexpected death of the insured, the insurance company shall  pay the highest of the following as death benefit to the nominees, irrespective of the survival benefits already paid:
  • Sum assured
  • 10 times the annualized premium
  • 105% of all premiums paid
  • Maturity benefit

Why Should I Buy This Plan?

Along with the benefits mentioned earlier, here are further reasons for you to opt for this plan:

  • Tax Benefits: Premiums paid under the plan would be exempt from tax under Section 80(C) up to a limit of INR 1,50,000. The death benefit or the maturity benefit received and the survival benefit received would be tax exempt under Section 10(10D) of the Income Tax Act.
  • Policy Loan Facility: The plan also provides the facility of loans that can be taken on the policy after the policy has acquired a surrender value. The maximum amount of loan available is 90% of the acquired surrender value. The interest rates for such loans will be 12% per annum.
  • Free-look Period: The individual is advised to go through the policy thoroughly. If s/he finds any objections to the terms and conditions of the policy, then s/he can cancel the policy within 15 days by giving a signed written notice to the insurance company stating the reasons for objection of the policy. The individual will be entitled to a refund of the premium paid, excluding a few charges.
  • Grace Period: The plan provides a grace period of 30 days from the due date of unpaid premium (15 days for monthly mode), in which payment of premium without interest will be allowed to be made. During the grace period, the policy shall continue to be in force for all the insured events. If the premium is not paid within the grace period, the policy will lapse and will be subject to the non-forfeiture benefit.


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Who Should Buy This Plan?

The plan can be bought by Indian citizens within the age bracket of 13 to 55 years to acquire money-back at regular intervals. The plan also protects the insured’s family from her/his untimely demise.


No riders are available with this plan.

Company Overview

PNB MetLife India Insurance Company is a joint venture between MetLife International Holdings, Punjab National Bank Limited, Jammu & Kashmir Bank Limited, M. Pallonji and Company Private Limited and other private investors. With the help of its banking partners, the company has an advantage of having access to a large number of customers and distribution networks.


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Tab 2

2 burgers per month

burger₹ 700
Your yearly cost on fast food = roughly ₹ 8,400
Cost of Health Insurance for whole family with ₹ 5 lakhs cover!

Tab 3

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Get ₹. 50 Lakhs
on retirment by saving
₹. 3,900/ Month.