Group Life Insurance: Unit Linked Employee Plan

Name: PNB MetLife Unit Linked Employee Benefit Plan
Brand: PNB Metlife
Rating: 4.5 (18244 reviews)

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In this Policy, the Investment Risk in investment portfolio is borne by the Policyholder

PNB MetLife Unit Linked Employee Benefit Plan is an employee insurance plan that offers comprehensive solutions for employers who wish to outsource administration and management of Leave Encashment and Gratuity liabilities in an effective and integrated manner. This group life insurance plan is administered similar to a cash accumulation scheme.

PNB MetLife Unit Linked Employee Benefit Plan in a nutshell

Choice among five funds
4 free switches in a year
Tax^* Benefits

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What you get

Investment Opportunity

With a choice of 5 linked funds, you can get a shot at investing in some of the most prudent funds and build your savings.

Savings after Retirement

Start early to get a sizeable income even after you retire through the help of long-term investments.

Wealth Growth

Why let your money be idle? While you work for a better future, let your money work for you as well!

PNB MetLife Unit Linked Employee Benefit Plan ensures:

Choice of five linked funds
Provides switching facility between the two funds with the first 4 switches between funds in a policy year being free of any charge.
Facility to pay the gratuity contribution (both past service liability and current service cost) in installments
Tax^* Benefits as applicable

What you don’t get

Suicide Exclusions

If the Life Assured’s death is due to suicide within twelve months from the date of commencement of risk or from the Date of Revival of the Policy as applicable, the Nominee or beneficiary of the Policyholder shall be entitled to 80% of the Total Premiums Paid till the date of death or the Unexpired Premium Value as on the date of death, whichever is higher, provided the Policy is in Inforce status.

Frequently Asked Questions

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What are the different Benefits available under PNB MetLife Unit Linked Employee Benefit Plan?

In case of retirement, resignation/termination, disablement etc. of Member:
Benefits will be as calculated based on the Scheme Rules as on the date of exit from service and as confirmed by the Employer / Trustees subject to the extent of Fund Value.
In case of death of member under Leave encashment:
Benefits are calculated as per the Scheme Rules as on the date of death and as confirmed by the Employer/Trustees subject to the extent of benefit funded by the scheme. The risk cover amount of Rs. 10,000 will be paid by the Company. In case the Fund Value is not enough to pay the stated benefits as per the Trust Deed and Rules, the shortfall will be borne entirely by the Group Policyholder.
In case of death of Member under Gratuity Scheme:
The death benefit will be as calculated based on the Scheme Rules as on the date of exit from service and as confirmed by the Employer/Trustees subject to the extent of the Fund Value. The risk cover amount of Rs. 10,000 will be paid by the Company.

What are the eligibility criteria for PNB MetLife Unit Linked Employee Benefit Plan?

Particulars	Boundary Conditions
Minimum age at entry	18 years age last birthday
Maximum age at entry	74 years age last birthday
Maximum Maturity Age	As per Individual employer’s scheme
Minimum / Maximum Contribution	Rs 1 lakh/500 cr
Inbuilt Life Cover Upon Death	Rs 10,000
Policy Term	One year renewable

How can I purchase PNB MetLife Unit Linked Employee Benefit Plan?

You can purchase this plan offline using any of the following methods:

Disclaimer:

PNB MetLife Unit Linked Employee Benefit Plan, Group, Linked, Non-Participating, Savings Life Insurance Plan | UIN:117N084V04
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding any sale.

The linked insurance products do not offer any liquidity during first five years of the contract. The policyholder will not be able to surrender/ withdraw the monies invested in linked insurance products completely or partially till the end of fifth Year.

^*Tax benefits are as per the Income Tax Act, 1961, & are subject to amendments made thereto from time to time. Please consult your tax consultant for more details

Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. The premium paid in Unit Linked Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. PNB MetLife India Insurance Company Limited is only the name of the Life Insurance Company and PNB MetLife Unit Linked Employee Benefit Plan is only the name of the unit linked insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document issued by the insurance company. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns.

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