Listen to this article
Is the PNB MetLife LIFT Plan your ladder to long-term wealth—or just another polished sales pitch in disguise?
Is the PNB MetLife LIFT Plan is a secure foundation—or just a conservative trap in disguise?
Does the PNB MetLife LIFT Plan offer real financial freedom—or just an illusion of it?In this review breaks down the key features, benefits, and drawbacks of the LIFT plan, so you can decide if it’s the right fit for your financial future.
Table of Contents
What are the features of the PNB MetLife LIFT?
What are the life cover options and income payout options in the PNB MetLife LIFT?
Who is eligible for the PNB MetLife LIFT?
What are the benefits of the PNB MetLife LIFT?
Grace period, Discontinuance and Revival of PNB MetLife LIFT
Free Look Period for PNB MetLife LIFT
What are the advantages of the PNB MetLife LIFT?
What are the disadvantages of the PNB MetLife LIFT?
Research Methodology of PNB MetLife LIFT
Benefit Illustration – IRR Analysis of PNB MetLife LIFT
PNB MetLife LIFT Vs. Other Investments
PNB MetLife LIFT Vs. Pure-term + ELSS
Final Verdict on PNB MetLife LIFT Plan
What is the PNB MetLife LIFT?
PNB MetLife LIFT Plan is an Individual, Non-Linked, Non-Participating, Savings, Life Insurance Plan. It not only provides you guaranteed income for the long term but also security for your family in your absence.
What are the features of the PNB MetLife LIFT?
- Choose between two life cover options: Life Option and Enhanced Life Option
- Enjoy the flexibility of three income payout choices: Level Income, Increasing Income, or Double Income
- Get guaranteed income for a fixed term of 25, 30, or 35 years, based on your needs
- Receive a Guaranteed Money Back Benefit at the end of the income payout period
- Select a premium payment term that suits you: 5, 7, or 10 years
- Tax benefits may be available on premiums paid and benefits received, subject to prevailing tax laws
What are the life cover options and income payout options in the PNB MetLife LIFT?
Life Options:
- Enhanced Life Option – Cover throughout your entire policy tenure
- Life Option – Cover for limited years of PPT + Deferment Period
Income payout options:
- Option 1: Level Income Option: Level Income payable throughout the Income Payout Period
- Option 2: Increasing Income Option: Increasing Income every year @ a simple rate of 5% p.a., starting from the second year of the Income Payout Period
- Option 3: Double Income Option: Double Income in the last 15 years of the Income Payout Period
Who is eligible for the PNB MetLife LIFT?
What are the benefits of the PNB MetLife LIFT?
| Benefits | Life Option | Enhanced Life Option |
| Survival Benefit | Not applicable | Guaranteed Income will be paid to the policyholder during the Income Payout Period as per the Income Payout Option chosen |
| Maturity Benefit | Guaranteed Income: Guaranteed Income will be paid during the Income Payout Period as per the Income Payout Option chosen | Sum Assured on Maturity (i.e., 100% of Total Premiums Paid in the Policy) will be paid as Guaranteed Money back Benet on that date |
| Guaranteed Money back Benefit: 100% of the Total Premiums Paid in the Policy will be paid as a Guaranteed Money back Benefit at the end of the Income Payout Period, along with the last instalment of Guaranteed Income | ||
| These shall continue to be payable even in the case of the death of the Life Assured during the Income Payout Period. |
||
| Death benefit | The Death Benefit shall be higher of:
Sum Assured on Death, or 105% of Total Premiums paid till date of death Surrender Value payable as on the date of death |
|
| PPT 5 years – 10 times of Annualized Premium PPT 7 years – 10 times of Annualized Premium PPT 10 years – 10 times of Annualized Premium |
PPT 5 years – 10 times of Annualized Premium PPT 7 years – 10 times of Annualized Premium PPT 10 years – 11 times of Annualized Premium |
|
Grace period, Discontinuance and Revival of PNB MetLife LIFT
Grace Period
The grace period for payment of the premium is 15 days, where the policyholder pays the premium on a monthly basis and 30 days in all other cases.
Discontinuance
If the first full policy year’s premium is not paid, the policy shall lapse at the end of the grace period, and the risk cover and rider benefits, if any, will cease immediately. No benefits will be paid when the policy is in lapsed status.
If a PNB MetLife LIFT Plan policy has acquired a non-zero surrender value (premium is paid for at least first policy year) and future due instalment premiums are not paid, the policyholder shall have the option to either surrender the policy or continue it as a paid-up policy with reduced benefits.
Revival
A Policy that has lapsed or that has been converted to a Reduced Paid-up Policy may be revived during the Revival Period
Free Look Period for PNB MetLife LIFT
If you have any objections to the terms and conditions of your Policy, you may cancel the Policy within 30 days beginning from the date of receipt of the Policy Document, whether received electronically or otherwise.
Surrendering PNB MetLife LIFT
If the due premium has been paid for at least first full policy year, the policy shall acquire a Special Surrender Value after the completion of the first policy year. If all due premiums have been paid for at least two full policy years, the policy shall acquire Guaranteed Surrender Value.
The PNB MetLife LIFT Plan policy will be terminated after payment of the Surrender value. The Surrender value payable shall be the higher of the Guaranteed Surrender Value and the Special Surrender Value
What are the advantages of the PNB MetLife LIFT?
- Loan Facility: You can avail a loan against your policy, if needed
- Flexible Payout Date: Choose a specific date to start receiving your Guaranteed Income
- Customizable Income Frequency: Opt to receive Guaranteed Income annually, half-yearly, quarterly, or monthly—based on your convenience (to be selected at policy inception)
- High Premium Reward: Enjoy enhanced benefits when you commit to a higher premium
- Guaranteed Additions: Boost your income with assured additions throughout the policy
- Family Protection: Strengthen your policy with optional riders for added security
- Commutation Option: Under the Life Option, you can choose to receive future income benefits as a lump sum instead of regular payouts
What are the disadvantages of the PNB MetLife LIFT?
- Regular income payouts interrupt the power of compounding, potentially limiting long-term wealth creation.
- Annual income benefits may encourage unnecessary or impulsive spending, reducing financial discipline.
- Since a portion of the benefit is paid out regularly, the final maturity amount remains relatively low, which may fall short of meeting major financial goals.
- Under the Life Option, life cover ceases during the income payout phase. No death benefit is payable during this period—only the scheduled survival income continues.
Research Methodology of PNB MetLife LIFT
The survival benefit offered under the PNB MetLife LIFT Plan is one of its main attractions, and it promises guaranteed regular payouts. However, it’s important to assess whether the returns justify the investment. Let’s break it down using actual figures from the policy brochure.
Benefit Illustration – IRR Analysis of PNB MetLife LIFT
Consider a 40-year-old male who opts for the Level Income variant of the plan. He pays an annual premium of ₹1,00,000 for 10 years. After this premium-paying term, he receives a guaranteed annual income of ₹84,917 for 30 years.
In the final year, he also gets the Guaranteed Maturity Benefit, which equals 100% of the total premiums paid (₹10,00,000).
| Male | 40 years |
| Sum Assured | ₹ 10,00,000 |
| Policy Term | 10 years PPT + 30 years Income Payout period |
| Premium Paying Term | 10 Years |
| Annualized Premium | ₹ 1,00,000 |
When we evaluate the Internal Rate of Return (IRR) for this cash flow, it comes to just 5.79%, as per the PNB MetLife LIFT Plan maturity calculator.
| Age | Year | Annualized premium / Maturity benefit | Death benefit |
| 40 | 1 | -1,00,000 | 10,00,000 |
| 41 | 2 | -1,00,000 | 10,00,000 |
| 42 | 3 | -1,00,000 | 10,00,000 |
| 43 | 4 | -1,00,000 | 10,00,000 |
| 44 | 5 | -1,00,000 | 10,00,000 |
| 45 | 6 | -1,00,000 | 10,00,000 |
| 46 | 7 | -1,00,000 | 10,00,000 |
| 47 | 8 | -1,00,000 | 10,00,000 |
| 48 | 9 | -1,00,000 | 10,00,000 |
| 49 | 10 | -1,00,000 | 10,00,000 |
| 50 | 11 | 0 | |
| 51 | 12 | 84,917 | |
| 52 | 13 | 84,917 | |
| 53 | 14 | 84,917 | |
| 54 | 15 | 84,917 | |
| 55 | 16 | 84,917 | |
| 56 | 17 | 84,917 | |
| 57 | 18 | 84,917 | |
| 58 | 19 | 84,917 | |
| 59 | 20 | 84,917 | |
| 60 | 21 | 84,917 | |
| 61 | 22 | 84,917 | |
| 62 | 23 | 84,917 | |
| 63 | 24 | 84,917 | |
| 64 | 25 | 84,917 | |
| 65 | 26 | 84,917 | |
| 66 | 27 | 84,917 | |
| 67 | 28 | 84,917 | |
| 68 | 29 | 84,917 | |
| 69 | 30 | 84,917 | |
| 70 | 31 | 84,917 | |
| 71 | 32 | 84,917 | |
| 72 | 33 | 84,917 | |
| 73 | 34 | 84,917 | |
| 74 | 35 | 84,917 | |
| 75 | 36 | 84,917 | |
| 76 | 37 | 84,917 | |
| 77 | 38 | 84,917 | |
| 78 | 39 | 84,917 | |
| 79 | 40 | 84,917 | |
| 80 | 10,84,917 | ||
| IRR | 5.79% |
While the survival and maturity benefits are guaranteed, the returns fall short when compared to even conservative debt instruments.
The early start of annual payouts reduces the opportunity for compounding, leading to a lower overall return. Moreover, the sum assured of ₹10 lakhs is insufficient for long-term financial protection.
In conclusion, the PNB MetLife LIFT Plan may not be suitable if you’re aiming to build a substantial corpus for your future goals. The low returns and modest coverage make it less compelling as a wealth-building or protection tool.
PNB MetLife LIFT Vs. Other Investments
While all benefits under the PNB MetLife LIFT Plan are guaranteed, the plan’s returns fail to beat inflation over the long term. With low insurance coverage and subpar returns, it falls short as both an investment and an insurance solution.
Your hard-earned savings can be put to far better use in achieving your life goals.
PNB MetLife LIFT Vs. Pure-term + ELSS
For life insurance, a pure-term policy is a far more efficient option. These plans offer high coverage at low premiums. For instance, consider the same scenario used in the earlier illustration.
A 40-year-old male can buy a pure-term policy with a sum assured of ₹10 lakhs for just ₹6,100 per year over a 10-year term. That’s a fraction of the ₹1 lakh premium charged annually under the LIFT Plan.
| Pure Term Life Insurance Policy | |
| Sum Assured | ₹ 10,00,000 |
| Policy Term | 10 years |
| Premium Paying Term | 10 Years |
| Annualized Premium | ₹ 6,100 |
| Investment | ₹ 93,900 |
The remaining ₹93,900 saved each year can be invested toward wealth creation. Risk-averse investors may choose debt options like PPF and Growth-oriented investors can opt for equity options such as ELSS funds
| Term insurance + ELSS | |||
| Age | Year | Term Insurance premium + ELSS | Death benefit |
| 40 | 1 | -1,00,000 | 10,00,000 |
| 41 | 2 | -1,00,000 | 10,00,000 |
| 42 | 3 | -1,00,000 | 10,00,000 |
| 43 | 4 | -1,00,000 | 10,00,000 |
| 44 | 5 | -1,00,000 | 10,00,000 |
| 45 | 6 | -1,00,000 | 10,00,000 |
| 46 | 7 | -1,00,000 | 10,00,000 |
| 47 | 8 | -1,00,000 | 10,00,000 |
| 48 | 9 | -1,00,000 | 10,00,000 |
| 49 | 10 | -1,00,000 | 10,00,000 |
| 50 | 11 | 0 | |
| 51 | 12 | 84,917 | |
| 52 | 13 | 84,917 | |
| 53 | 14 | 84,917 | |
| 54 | 15 | 84,917 | |
| 55 | 16 | 84,917 | |
| 56 | 17 | 84,917 | |
| 57 | 18 | 84,917 | |
| 58 | 19 | 84,917 | |
| 59 | 20 | 84,917 | |
| 60 | 21 | 84,917 | |
| 61 | 22 | 84,917 | |
| 62 | 23 | 84,917 | |
| 63 | 24 | 84,917 | |
| 64 | 25 | 84,917 | |
| 65 | 26 | 84,917 | |
| 66 | 27 | 84,917 | |
| 67 | 28 | 84,917 | |
| 68 | 29 | 84,917 | |
| 69 | 30 | 84,917 | |
| 70 | 31 | 84,917 | |
| 71 | 32 | 84,917 | |
| 72 | 33 | 84,917 | |
| 73 | 34 | 84,917 | |
| 74 | 35 | 84,917 | |
| 75 | 36 | 84,917 | |
| 76 | 37 | 84,917 | |
| 77 | 38 | 84,917 | |
| 78 | 39 | 84,917 | |
| 79 | 40 | 84,917 | |
| 80 | 53,68,820 | ||
| IRR | 7.75% | ||
Let’s consider the ELSS route. At an assumed return of 12%, the accumulated corpus in 10 years would be ₹18.45 lakhs. After accounting for capital gains tax, the final amount is around ₹17.47 lakhs.
If this amount is then reinvested in a 7% yielding instrument, it can comfortably provide you with the regular payouts.
| ELSS Tax Calculation | |
| Maturity value after 10 years | 18,45,565 |
| Purchase price | 9,39,000 |
| Long-Term Capital Gains | 9,06,565 |
| Exemption limit | 1,25,000 |
| Taxable LTCG | 7,81,565 |
| Tax paid on LTCG | 97,696 |
| Maturity value after tax | 17,47,870 |
You receive an annual income of ₹84,917 for 30 years, and a final maturity value of ₹10 lakhs—just like the LIFT plan. But here’s the key difference: the final value of this alternate investment path is around ₹53.68 lakhs, with an IRR of 7.75%—significantly higher than the 5.79% IRR offered by the LIFT Plan.
Additionally, this approach offers liquidity and flexibility, unlike the rigid structure of traditional life insurance plans.
Be strategic with your money. Build a diversified portfolio tailored to your risk appetite, time horizon, and financial goals. Avoid bundled products like the PNB MetLife LIFT Plan that combine insurance and investment—they often underdeliver on both fronts and can slow down your financial progress.
Final Verdict on PNB MetLife LIFT Plan
The PNB MetLife Life Income FOR Tomorrow (LIFT) Plan offers multiple variants with customizable life cover and income payout options. Across all variants, you receive guaranteed income for a fixed period, allowing some flexibility to align the plan with your needs.
However, guaranteed survival and maturity benefits alone are not enough to help you achieve long-term financial goals. A plan that runs for 25 to 35 years but yields modest returns may fall short of meeting future expenses, especially when adjusted for inflation.
One of the key drawbacks is that regular annual payouts disrupt the power of compounding, limiting wealth accumulation.
Furthermore, the plan provides inadequate life coverage, leaving your family financially vulnerable in case of unexpected events, and it also has a high agent commission.
These factors together reduce the overall effectiveness of the LIFT Plan.
A better approach is to separate insurance from investment. For protection, choose a pure-term life insurance policy that offers high coverage at affordable premiums. For wealth creation, build a well-diversified investment portfolio aligned with your goals, time horizon, and risk appetite.
Do Quora, Facebook, and Twitter have the final say when it comes to financial advice?
To ensure your financial strategy is on the right track, consider seeking guidance from a Certified Financial Planner (CFP). A professional can help design a personalized financial plan that meets your specific needs and maximizes your potential for success.
Leave a Reply