Advice - Lapse Health Policy - PNB MetLife

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Deal Cadet
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Here is story:

PNB MetLife health insurance was opened in 2017 and 1 L was paid as premium. Later it was realized that a mistake was made (Whole hussle was to save some Tax) and decided not to make any more premium.

As of today 2018, 2019, 2020 and 2021 premium was missed.

Is it worth to revive it?

1L pinch a lot..

Story of relative who were seeking advise and i have no knowledge of it..

Kindly suggest..

13 Comments  |  
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What’s your age ? 1lakh premium is for what coverage ? Individual policy or family plan, many details are required…..

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I got a call from Telecaller last month that I have made one payment or Pnbmetlife insurance of 50K in 2015 and it has lapsed . I could not remember if I made this payment.

He gave me option to withdraw current value approx 1Lac by having 20% cut or deposit two premiums of 50k and then close this policy with entire amount withdrawn.

He shared me policy number. How can I check if it was genuine call or fraud call.

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How to get details of a lapsed policy of PNB metlife??

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Bharatwasi wrote:

How to get details of a lapsed policy of PNB metlife??

Visit nearest Metlife office or call cc..

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myfungang829 wrote:

What’s your age ? 1lakh premium is for what coverage ? Individual policy or family plan, many details are required…..

It was for 60 yrs old female.. Individual health money back plan..

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I always say that it is better to give tax rather than investing in such junk plan at last moment for tax planning.

I would personally say that, forgot that 1 Lac (yes its very painful) & manage rest of amount wisely. Believe me, that will still give more wealth than reviving such junk plans. Need to check actual ROI of plan etc. but it will be junk plan only if it’s mix of investment + Insurance…

Simple rule: Never mix Investment with Insurance. You can avoid 80-90% of miss-selling product by this single rule only…

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drjpatwa wrote:

I always say that it is better to give tax rather than investing in such junk plan at last moment for tax planning.

I would personally say that, forgot that 1 Lac (yes its very painful) & manage rest of amount wisely. Believe me, that will still give more wealth than reviving such junk plans. Need to check actual ROI of plan etc. but it will be junk plan only if it’s mix of investment + Insurance…

Simple rule: Never mix Investment with Insurance. You can avoid 80-90% of miss-selling product by this single rule only…

sirg surrender nahi ho sakti kya yeh policy?

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kukdookoo wrote:

sirg surrender nahi ho sakti kya yeh policy?

Usually many such plans have a minimum duration of 3 years of investment then only u get surrender value. Otherwise u will get 0.

Actual fact: Agent gets 30-50% commission of 1st installment. Company charge their own administrative expenses, Fund manager expense, Mortality expense etc.

To customer ko babaji ka thullu he milega na !!!

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kukdookoo wrote:

sorry 1 lac ki health insurance ha mujhe lga dusri insurance

Policy name is: Metlife guaranteed income plan

Premium was : 99989

The issue at my location is people are not that much educated and they get into this stuff very easily..

Agent also told person that there will be cover..

@drjpatwa

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