PNB Metlife Investment Plans

PNB MetLife allow buyers to invest in sectors such as consumption, technology, digital, and healthcare among other emerging industries.

Features of PNB Metlife Investment Plans

1 Premium Payment Term:

Most plans offer the option of selecting the premium payment term among Single, Regular, and Limited Pay.

2 Partial Withdrawal:

Investors can now withdraw certain amounts from their funds to fulfil monetary obligations, mostly from the 5th year of the policy term.

3 Maturity Benefit:

Policyholders are covered for the entire duration of the policy term. Besides, they will receive the maturity benefit in a lump sum on survival.

4 Multiple Plan Options:

Majority of the savings and investment plans offered by PNB MetLife come with several options that can be used by policyholders to customize their plans according to their monetary objectives.

5 Savings and Returns:

Along with life cover, investors can choose to accumulate funds under these plans and grow a significant corpus with additional returns.

Benefits of PNB Metlife Investment Plans

Claim Settlement Ratio of PNB MetLife

In FY 2019-20, its claim settlement ratio was reported to be 97.18. For your convenience, in the figure below, we have compared the claim settlement ratios of the top-ranking life insurance companies with that of PNB Metlife.

Comparison between PNB Metlife and other top insurance companies (based on Claim Settlement Ratio)

List of PNB MetLife Savings and Investment Plans

The table below lists the savings and investment product offerings of the company along with details on the ideal customer base against each plan.

Overview of PNB MetLife Investment Plans

We have attempted to briefly describe each of these plans in the next sections.

1. PNB MetLife Mera Wealth Plan

   It is a unit-linked wealth and savings plan that enables policyholders to achieve their financial goals in addition to ensuring a life cover. Please note that unit-linked funds are subject to market volatilities and the risks are borne by the policyholders.

   Key Features

   • Policyholders can choose to opt for Single or Regular premium payment methods.
   • It comes with two investment options, viz. Self-managed and Systematic Transfer.
   • The plan offers loyalty additions from the 6th policy year.
   • Maturity benefit can be availed as a sum of Fund Value at term completion.

   Eligibility Criteria

   Entry age	Minimum: 30 days, Maximum: 60 years
   Age at Maturity	Minimum: 18 years, Maximum: 80 years
   Maximum Policy Term	30 years
   Premium Payment Options	Single premium, Regular premium, 5 Year/10 Year Limited premium

   

2. PNB MetLife Century Plan

   A recent addition to the company's product range, the PNB MetLife Century Plan offers life cover till the age of 100.It also serves as a second source of income post-retirement.

   Key Features

   • Policyholders receive a lump sum amount at maturity.
   • Policyholders can choose to withdraw a part of the survival benefit or accumulate the sum till the end of the term.
   • The plan comes with 3 income options, viz Super Income, Smart Income, and Future Income.
   • Guaranteed cash bonuses up to 10% and 30% can be availed under the Super Income option and Future Income option, respectively.
   • Family Care Benefit option enables buyers to ensure that survival benefits are paid even after the policyholder's death.
   • Family Care Benefit option also waives off future premiums payable post the Life Assured's death.

   Eligibility Criteria

   Income Option	Super Income	Super Income	Future Income
   Minimum Entry Age	30 days / 18 years
   Maximum Entry Age	50-60 years	50-65 years	50-60 years
   Maturity Age	80-100 years
   Policy Term	80 minus Entry Age, 100 minus Entry Age
   Premium Payment Term	5 Pay/10 Pay/12 Pay/15 Pay	5 Pay/10 Pay/12 Pay/15 Pay	8 Pay/10 Pay/12 Pay/15 Pay
   Minimum Sum Assured	Rs. 2,40,000 / Rs. 6,00,000*
   Minimum Annualized Premium	Rs. 24,000 / Rs. 60,000*

   * Subject to Premium Payment Term

3. PNB MetLife Endowment Savings Plan Plus

   It is an endowment-based investment plus life insurance plan that helps in serving financial needs at every stage of life.

   Key Features

   • Policyholders can avail death and maturity benefits.
   • It comes with two options in terms of financial protection, viz. Savings and Savings Plus.
   • Future premiums are waived off against 35 pre-listed critical illnesses, under the Savings Plus option.
   • The plan offers a simple reversionary bonus and a terminal bonus from the first year of the policy.

   Eligibility Criteria

   Plan Option	Savings	Savings Plus
   Entry age	Minimum: 8 years, Maximum: 60 years	Minimum: 18 years, Maximum: 55 years
   Age at Maturity	80 years	Regular Pay: 65 years, Limited Pay: 80 years
   Policy Term	10-25 years
   Premium Payment Options	Regular premium, Limited premium (5 Pay/7 Pay/10 Pay)
   Minimum Sum Assured	Rs. 2,20,000

4. PNB MetLife Smart Platinum

   Another ULIP plan by PNB MetLife, allowing investors to build their investment portfolio through 6 different market-linked funds, depending on their risk appetite.

   Key Features

   • This ULIP plan offers life coverage till the age of 99.
   • It allows partial withdrawal of funds post the 5th year.
   • Policyholders have the option to change their sum assured.
   • It comes with the Auto Rebalance option, which adjusts your investment portfolio to capitalize on emerging market opportunities.

   Eligibility Criteria

   Entry age	Minimum: 7 years, Maximum: 70 years
   Premium Payment Term	5 Pay, 10 Pay, Whole Term
   Premium Payment Modes	Annual	Semi-Annual	Monthly	Quarterly
   Minimum Annualized Premium	Rs. 30,000	Rs. 60,000	Rs. 60,000	Rs. 60,000

5. PNB MetLife Guaranteed Future Plan

   The plan helps policyholders to systematically save while ensuring a life cover. It further guarantees returns against the savings corpus of policyholders.

   Key Features

   • It offers flexibility in payout, meaning that buyers can choose to receive a lump sum amount on maturity or earn a regular income.
   • It comes out with 4 plan options, viz. Endowment Option, Income Option, Income + Lump-sum Option, and Income + Boosters.
   • The guaranteed income ranges from 103% to 246% of the annualized premiums.
   • The plan comes with riders for extra protection against Accidental Death and Serious Illnesses.
   • Policyholders have the option to take loans up to 90% of the surrender value.

   Eligibility Criteria

   Minimum Entry Age	30 days*
   Maximum Entry Age	60 years
   Maximum Maturity Age	Single Pay: 80 years, Limited Pay: 75 years
   Premium Payment Option	Single Pay, Limited Pay
   Policy Term	12-32 years**
   Minimum Sum Assured	Single Pay: 1.25 x Single premium, Limited Pay: 10 x Annualised premium
   Minimum Annualized Premium	Single Pay: Rs. 2,00,000, Limited Pay: Rs. 12,000

   * Subject to change per the chosen policy term

   ** Subject to payout option chosen

6. PNB MetLife Smart Platinum Plus

   With PNB MetLife Smart Platinum Plus, investors can avail themselves of whole life protection coupled with opportunities to grow financially.The plan covers policyholders against critical illnesses.

   Key Features

   • It offers two plan options, viz. Wealth and Wealth + Care. The latter waives off future premiums payable if the policyholder is diagnosed with any of the 5 pre-defined critical illnesses.
   • Fund Boosters at the end of the 10th year can be availed to enhance total fund value.
   • Investors can choose from 11 unit-linked funds.
   • Fund Management Charges are returned at the end of the 6th policy year.

   Eligibility Criteria

   Plan option	Wealth	Wealth + Care
   Age at Entry	Minimum: 30 days, Maximum: 70 years	Minimum: 18 years, Maximum: 65 years
   Age at Maturity	80 years/99 years
   Premium Payment Options	Single, Regular, Limited Pay	Limited Pay
   Minimum Sum Assured	Single Pay: Rs. 1.87,500, Regular/Limited Pay: Rs. 3,36,000
   Premium Payment Mode	Annual, Half-Yearly, Monthly

7. PNB MetLife Guaranteed Savings Plan

   It is a savings-based insurance plan that guarantees additional returns on the premiums paid. Maturity benefit is payable as a lump sum, which can then be used by the policyholder to achieve her/his short-term and long-term goals.

   Key Features

   • A percentage of the basic sum assured can be availed upon plan maturity.
   • At the end of each year within the premium payment term, policyholders receive guaranteed additions on the cumulative premiums.
   • A maximum of 90% of the surrender value can be availed as a loan.

   Eligibility Criteria

   Premium Payment Term	5 Pay	7 Pay	10 Pay
   Age at Entry	Minimum: 8 years, Maximum: 60 years	Minimum: 3 years, Maximum: 60 years	Minimum: 3 years, Maximum: 60 years
   Maximum Age at Maturity	70 years	72 years/75 years	80 years
   Policy Term	10 years	12 years/15 years	20 years
   Minimum Sum Assured	Rs. 4,00,000	Rs. 2,00,000	Rs. 1,50,000

8. PNB MetLife Guaranteed Income Plan

   It is an individual, non-participating, non-linked, savings and life insurance plan. The scheme has been designed to secure your family against unexpected circumstances while also offering an additional income.

   Key Features

   • In the event that an unfortunate incident occurs during the policy, the Life Assured's family receives lump sum benefits.
   • The plan guarantees a periodic income of 11% to 13% of the Basic Sum Assured at the end of the premium payment term.
   • In addition to the income benefit, policyholders receive the maturity benefit up to 55% of the Basic Sum Assured.
   • Life Assured can avail of a loan up to 90% of the surrender value at an interest rate of 10.5% (current rate).

   Eligibility Criteria

   Premium Payment Term	5 Pay	7 Pay	10 Pay	12 Pay
   Policy Term	10 years/15 years	15 years	20 years	20 years
   Minimum Entry Age	8 years/3 years	3 years	3 years	3 years
   Maximum Entry Age	60 years
   Maximum Maturity Age	70 years/75 years	75 years	80 years	80 years
   Minimum Annual Premium	Rs. 52,900*	Rs. 23,864	Rs. 16,666	Rs. 12,357
   Minimum Sum Assured	Rs. 4,00,000	Rs. 2,00,000	Rs. 1,50,000	Rs. 1,50,000

   *For a policy term of 10 years.

9. PNB MetLife Super Saver Plan

   It is a non-linked life insurance plan designed to financially protect policyholders and their families in the future.

   Key Features

   • Future premiums are waived off in case of the untimely demise of the life assured or upon being diagnosed with a critical illness.
   • Accumulation and Liquidity bonus options are available for policyholders to choose from at the time of inception.
   • It comes with 3 plan options, viz. Savings, Savings + Family Care, and Savings + Health Care.
   • If opted for Savings + Family Care, the maturity benefit is payable even after the policyholder's death, along with the future premiums waived off.

   Eligibility Criteria

   Plan Option	Savings	Savings + Family Care	Savings + Health Care
   Age at Entry	Minimum: 0 days, Maximum: 60 years	Minimum: 18 years, Maximum: 50 years	Minimum: 18 years, Maximum: 55 years
   Age at Maturity	Minimum: 18 years, Maximum: 80 years	Minimum: 28 years, Maximum: 70 years	Minimum: 28 years, Maximum: 75 years
   Policy Term	10-20 years
   Minimum Sum Assured	Rs. 2,20,000
   Premium Payment Mode	Yearly/Half Yearly/Monthly

10. PNB MetLife Bachat Yojana

    PNB MetLife Bachat Yojana is an individual, non-linked, long-term savings plan with the benefit of life cover.

    Key Features

    • Policyholders can receive coverage for up to 15 years for a premium payment term of 10 years.
    • It offers the base sum assured as a maturity benefit along with bonuses.
    • Simple Reversionary Bonus and Terminal Bonus are applicable under this plan. The bonus accrues from the 3rd year till the end of the policy term.

    Eligibility Criteria

    Age at Entry	Minimum: 20 years, Maximum: 60 years
    Maximum Maturity Age	75 years
    Premium Payment Term	10 years limited pay
    Policy Term	15 years
    Sum Assured	Minimum: Rs. 64,800, Maximum: Rs. 5,00,000

Procedure to Purchase PNB MetLife Investment Plans

Claim Process at PNB MetLife

The claim process at PNB MetLife involves the following steps:

File a Claim:

• Apply for the claim on their official website, or
• Inform via email at claimshelpdesk@pnbmetlife.com, or
• Send them a letter via post, or
• Use their self-service mobile app, named KhUshi.

Submit Required Documents:

In case of a death claim, documents required are:

• Death certificate - original/attested copy
• Official statement of the Claimant
• Physician's/Doctor's certificate
• Claimant's photo ID and address proof
• Cancelled cheque/passbook for bank account details
• Claimant's authorized letter, in cases involving a third party.

Claim Payout:

Upon receipt of essential documents, the claims are processed within 30 days, if further investigations are not required.

In cases requiring follow-up investigation, claims will be processed within 90 days from the date of receipt of documents.