When can income payouts begin?

Under eligible options, income may begin as early as the second policy year. The actual start year depends on the option and configuration selected.

Are the bonuses guaranteed?

No. The plan is participating, and bonus benefits are subject to declaration by the insurer and policy terms.

Can I accumulate survival benefits?

Yes. The official plan page describes an option to accumulate eligible survival benefits at 3% p.a., compounded monthly, subject to policy terms.

Is GROW a term insurance plan?

No. It is a participating savings life insurance plan with income and maturity benefits, not a pure term insurance plan.

PNB MetLife GROW Plan: Benefits, Income & Premium

PNB MetLife GROW Plan Overview

PNB MetLife GROW Plan (UIN 117N167V01) is an individual, non-linked, participating savings life insurance plan designed to provide life cover along with survival benefits and long-term income. It offers four options: Increasing Income, Milestone Income, Extended Life Cover, and Wealth. Depending on the selected option, policyholders can receive income from an eligible early policy year, increasing income over time, milestone-based payouts, or benefits structured around the chosen policy term. Maturity choices for eligible options extend to ages 70, 75, 80, 85, or 100. Benefits vary by plan option, maturity option, premium, and policy terms.

Four plan options with income payouts and maturity choices

Expert Review of PNB MetLife GROW Plan

GROW may suit people who want life insurance protection and a structured stream of income over the long term. Increasing Income is designed for payouts that rise over time, while Milestone Income provides payouts at the selected milestone frequency. Extended Life Cover offers a different income structure, and Wealth is designed around its specified policy term and benefit structure. The plan is participating, so any bonus or terminal bonus is not guaranteed and depends on insurer declarations and policy terms. The official page lists a minimum annualised premium of ₹24,000 and minimum sum assured of ₹2,40,000. Review the personalised benefit illustration to understand actual payouts before purchasing.

Pros

Combines life insurance protection with a structured income plan.
Offers four plan options for different income and savings preferences.
Eligible options provide flexibility in income start year and payout frequency.
Offers maturity choices extending to age 100 under the applicable option.

Cons

Minimum annualised premium is ₹24,000, so it may not suit every budget.
Benefits differ substantially across options, maturity ages, and premium terms.
Bonuses are not guaranteed and depend on insurer declarations.

About PNB MetLife (Insurer Profile)

PNB MetLife

Key Insights

Founded

2001

PNB MetLife was established 25 years ago and has built strong credibility over time, backed by its long-standing presence in the market.

Claims Experience

99% CSR, calculated as a 3-year average

PNB MetLife settles 99% of all claims it receives, demonstrating strong credibility.

Contact Details

1800-425-6969

Headquarters: 1st Floor, Techniplex -1, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West), Mumbai – 400062, India

PNB MetLife GROW Plan Features and Benefits

Life insurance cover

Provides a death benefit according to the policy terms and the selected plan option.

The policy must meet the applicable in-force and claim conditions.

Increasing income

Eligible policyholders can choose income that increases every year after the selected income start year.

Available under the Increasing Income option and subject to its terms.

Milestone income

Provides payouts at a selected milestone frequency under the Milestone Income option.

Frequency and payout amount depend on the selected configuration.

Extended Life Cover option

Offers an income structure with life cover under the selected option.

Eligibility and policy term restrictions apply.

Survival benefit accumulation

Eligible survival benefits can be accumulated under the policy rules.

The official plan page specifies an accumulation rate of 3% p.a., compounded monthly, subject to policy terms.

What PNB MetLife GROW Plan Does Not Cover (Exclusions)

Conditions or treatments that the policy clearly says it will not cover.

Death benefit claims are subject to policy wording, applicable exclusions, and claim conditions.
Unpaid premiums, lapse, or surrender may affect policy benefits according to the policy terms.
Optional riders have separate eligibility rules, exclusions, and terms; they are not automatically included in the base plan.

Disclaimer: For illustration purposes only - exact terms are in the policy wording.

Insurer

PNB MetLife plans and claim process

PNB MetLife GROW Plan FAQs

What is PNB MetLife GROW Plan?

It is an individual, non-linked, participating savings life insurance plan offering life cover and income or maturity benefits under the selected option.

What are the available plan options?

The four options are Increasing Income, Milestone Income, Extended Life Cover, and Wealth.

What is the minimum premium?

The official product page lists a minimum annualised premium of ₹24,000. The actual premium depends on the selected plan option, age, policy term, and premium payment term.

Disclaimer: Premium amounts are indicative and may vary based on age, health, and plan selected. Claim settlement ratios are from IRDAI Annual Reports. Finzony is not an insurance broker or agent. Verify all details on the official PNB MetLife website before purchasing.