This is the Part 2 of the Honest Review of the PNB Metlife Guaranteed Future Plan.
?For review of the first part, click here
What are the different plan options and what are the “Real Returns” offered under this plan?
When we perform the calculations taking into account the GST applicable and also considering the exemptions under 10/20/30% Tax Bracket, what are the returns that we get? With this video, we will aim to look at this aspect of the PNB Metlife Guaranteed Future Plan.
About the PLAN
PNB Metlife Guaranteed Future Plan is An Individual, Non-linked, Non-Participating, Savings, Life insurance plan.
This plan aims to help people systematically save and offers “Guaranteed” returns.
The various plans offer control and flexibility to customise the savings schedule basis one’s needs and affordability. From the different plans, one can choose the manner in which one wants to receive maturity amounts (i.e. Income, Lump-sum or combination thereof) and can also customise the timing to best meet their requirements.
We will be reviewing this plan purely from returns perspective against the cases illustrated in official brochure.
There are 2 parts to this video and this is part 2 of 2.
The first video was aimed at evaluating the returns based on the premiums paid and the returns received without taking into account any of the tax components (GST or Income Tax rebates).
The second part is aimed to evaluate these options along with taking into account the GST applicable on premium as well as calculating the returns under various tax heads (10%/20%/30% rebate)
What’s covered?
We will discuss the following aspects in this video
1 What are the returns PNB Metlife Guaranteed Future Plan when GST is applicable on the Premium?
2 What are the REAL Returns in PNB Metlife Guaranteed Future Plan under 10% tax exemption?
3 What are the REAL Returns in PNB Metlife Guaranteed Future Plan under 20% tax exemption?
4 What are the REAL Returns in PNB Metlife Guaranteed Future Plan under 30% tax exemption?
If you would like to read about some of the other plans offered by PNB Metlife, you can read them here.
Plan Options
The 4 different options offered under this plan are –
Option 1: Endowment Option – Total Premiums Paid plus accrued Guaranteed Additions and accrued Wealth Additions (if any) till the date of death.
Option 2: Income Option – Total Premiums Paid plus accrued Guaranteed Additions less Guaranteed Income Payouts made during the Income Payout Period (if any) till date of death.
Option 3: Income + Lumpsum Option – Total Premiums Paid plus accrued Guaranteed Additions and accrued Wealth Additions (if any) less Guaranteed Income Payouts made during the Income Payout Period (if any) till date of death.
Option 4: Income + Boosters Option – Total Premiums Paid plus accrued Guaranteed Additions and accrued Booster Additions less Guaranteed Income Payouts made during the Income Payout Period (if any) till date of death.
Have you read about PBM Metlife Guaranteed Income Plan?