PNB MetLife ULIP Plans
PNB MetLife ULIP Plans
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  • Hassle-free Premium Payment
  • Tax Benefits Under 80C
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PNB MetLife ULIP Plans

PNB MetLife India Insurance Company Limited (PNB MetLife) is a joint venture between MetLife International Holdings LLC (MIHL), Punjab National Bank Limited (PNB), Jammu & Kashmir Bank Limited (JKB), M. Pallonji and Company Private Limited and many other private investors, MIHL and PNB are the major stakeholders.

The massive distribution reach of PNB together with the international insurance expertise and product range of MetLife makes this insurance company a substantial and trustworthy organization. PNB MetLife's Unit Linked Insurance Plans or ULIPs offer to achieve financial goals together with a life cover so as to provide full security for you and your family.

Types of PNB MetLife ULIP Plans

We know when it comes to family's future, you wouldn't leave anything to chance. You would not only like to ensure that they are financially secure but also plan enough to take care of their future goals, in your absence. That is why PNB MetLife helps you strike an appropriate balance of protection and wealth accumulation. PNB MetLife ULIP plans is a smart investment choice as it comes with dual perks of life insurance cover and market-linked returns. For your convenience, we have mentioned a few important details of all PNB ULIP plans below.

Plan NameAnnualized Premium (Rs.)Entry Age (min/max)Policy Term (in years)Maximum Maturity Age (in years)
MetLife Mera Wealth Plan5 pay & Single pay: 1 lakh
Regular pay & 10 pay: 24,000 onwards
30 days/60 years10 to 3074 for 5 pay and 80 for other premium payment options
PNB MetLife Endowment Savings Plan PlusRs. 18,000 onwards18 years/60 years10 to 2580
MetLife Smart PlatinumRs. 60,000 onwards7 years/70 yearsNot Mentioned99 (as of last birthday)
MetLife Smart OneRs. 18,000 onwards (single)3 months/65 years10 to 2075
MetLife Dhan SamridhiRs. 2 lakhs onwards (single)8 years/65 years1075

PNB MetLife ULIP Plans In Details

1. MetLife Mera Wealth Plan

It is a unit-linked wealth and savings plan that enables you to create a financial blueprint for your goals at every stage in life. PNB MetLife's Mera Wealth Plan helps you achieve your financial goals along with a life insurance cover for the financial security of your loved ones.

Features & Benefits:

  • Offers good returns together with an option to choose investment modes such as a self-managed option or systematic transfer option.
  • Reward in the form of loyalty additions for staying invested.
  • Add-on protection to your investment plan by providing life insurance cover.

2. PNB MetLife Endowment Savings Plan Plus

It is basically an endowment life insurance plan that helps you accumulate your savings for your financial needs at every stage of life. Additionally, this monthly savings plan provides life cover to protect your family along with an option to protect your goals against critical illnesses.

Features & Benefits:

  • Acts as a corpus to fulfill your desires.
  • Prepay home loans with the support of MetLife Endowment Savings Plan Plus.
  • Savings for retirement as well as higher education for your child.
  • WOP, waiver of premiums for 35 critical illnesses to secure the future of your family.

3. MetLife Smart Platinum

It is a unit-linked insurance plan that gives you the flexibility to build your investment portfolio through 6 different funds. It covers you till 99 years of age with an option to choose a premium term of 5 years, 10 years or whole life. In this Unit-linked life insurance Plan, the Investment Risk in the investment portfolio is borne by the Policyholder.

Features & Benefits:

  • Opt to choose from 6 unit-link funds for investment purposes.
  • Auto rebalancing option to manage your investment risks.
  • Offers liquidity facility after 5 years with the partial withdrawal of the policy.

4. MetLife Smart One

MetLife Smart One is a one-time premium payment plan or a single premium policy that provides various investment options and accelerates your wealth creation goals.

Features & Benefits:

  • The policyholder needs to make a single time payment for a selected policy term.
  • Helps your investment plan by providing an option of ‘Stop Loss’ during decreasing market cap.
  • This plan also offers Auto Balancing Option to support when the market is unstable.

5. MetLife Dhan Samriddhi

MetLife Dhan Samriddhi comes with the flexibility to build your investment portfolio through several options for investing savings in addition to life coverage. Earn loyalty additions at maturity of policy to gain maximum returns of investment.

Features & Benefits:

  • Hassle-free one-time premium payment.
  • Loyalty Additions.*
  • PNB MetLife has delivered consistent returns on the funds.
  • Tax benefits on investments and returns.

Benefits of PNB MetLife ULIP Plans

Several benefits of PNB MetLife ULIP Plans are listed below:

  • Cost-effective: One should go for PNB MetLife plans as they are available at low premiums with loaded benefits.
  • Flexibility: The policyholder can choose the sum assured amount, based on current desires and future expectations.
  • Premium Payment Options: A number of options are available if one wishes to pay the premium for a selected time period, with the policy cover for an extended period.
  • Bonus: The policyholder can earn bonuses with PNB MetLife plans to ensure that the initial investment gives returns over time. This facilitates in beating inflation and growing expenses of medical costs.
  • Loans: Certain schemes of PNB Metlife offer loan facilities to policyholders to satisfy emergency financial requirements.
  • Tax Benefits: Avail tax advantages under Section 80C of the Income Tax Act, 1961.

FAQs

You will be required to visit the official website of PNB MetLife and log in to your account using your User ID and Password in the customer portal. After logging in you can check the status of your policy. You will get all the details about the policy from your account.

The process of renewal for PNB MetLife ULIP Plans can be done easily by making the payment of premiums through:

  • Online mode: Log in to your account using your User ID and Password and choose the plan that is due for renewal. Click ‘Pay Renewal Premium’ and select payment mode and make the payment. After the payment, your plan will be renewed automatically and will be updated in the account.
  • Offline mode: You need to go to the nearest PNB branch and apply for the renewal of your policy by sharing the policy details. After applying, make the payment for outstanding premiums to proceed with the renewal process.

For cancellation of your policy, submit the duly filled surrender form and attach the required documents in the PNB branch. After receiving the documents to cancel the policy, it will be terminated and the refund will be processed for the same.

PNB Metlife ULIP plan is a combination of life insurance and investment. The policyholder pays a premium which is then divided as a life insurance premium and investment factor. In the event of the death of the policyholder, the highest of fund value or the sum assured amount is paid, the total fund amount will be paid on the maturity date.

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Last updated on 22-01-2020