PNB Metlife Goal Ensuring Multiplier: India's Best ULIP Plan in 2024

Name: PNB MetLife Goal Ensuring Multiplier
Brand: PNB MetLife
Rating: 4.1 (2342 reviews)

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Presenting PNB MetLife Goal Ensuring Multiplier (GEM), a solution that provides you with life insurance cover and helps you to invest systematically thereby creating long-term wealth to fulfil your dreams. You can grow your investment with our diverse portfolio of funds that have been consistently performing over the last two decades

New Fund Option

At PNB MetLife we are delighted to offer a new fund, the “Bharat Consumption Fund” (ULIF03015/11/24CONSUMFUND117). This fund invests in companies engaged in consumption theme. India is world’s fastest growing major consumption market and it’s at an inflection point driven by confluence of factors such as favorable demographics, urbanization, premiumisation and digitisation. This provides a strong multi-decade investment opportunity across various consumption categories. The fund’s investment objective is to provide long-term capital appreciation by identifying companies poised to benefit from India’s consumption boom. As a result, experts believe that schemes which are investing in consumption/ funds are best suited for individuals with a high risk tolerance and long-term investment goals.

PNB MetLife Goal Ensuring Multiplier in a nutshell:

Return of Charges–
Return of Fund Management Charges (ROFMC¹)
Return of Premium Allocation Charges (ROPAC²)
Return of Mortality Charges (ROMC³)
Fund Boosters⁴ to grow your fund value
Exclusive Child Solution with Waiver of Premium on the death of proposer⁵
Single Premium Joint Life coverage basis two lives
Convenient TOP Up Option to build your fund value even bigger
Choice of 16 funds that suit your risk appetite

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With PNB MetLife Goal Ensuring Multiplier:

Choice among 5 plan options:
1. Wealth
2. Wealth + Care
3. Goal Assured
4. Income Assured
5. Smart Child
Choose to pay for limited period of 5, 7 & 10 years or throughout the policy term
Single Pay available under Wealth Option
Option to stay protected throughout your life

Fund Performance

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What you don’t get

Suicide Exclusions

In case of death due to suicide within 12 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 the Fund Value, as available on the date of intimation of death. Further any charges other than Fund Management Charges (FMC) and guarantee charges recovered subsequent to the date of death shall be added back to the fund value as available on the date of intimation of death. In case of ‘Wealth (Joint Life)’ option, the above clause will be applicable on death due to suicide of either of the lives or both, within 12 months from the date of commencement of the policy or from the date of revival of the policy.

Waiting period

The waiting period is 90 days from the Date of Commencement of Risk or the date of the last Revival of the Policy, whichever is later. Additionally, the Life Assured must survive for a minimum period of 30 days to be eligible for waiver of premium under this benefit.

Exclusions for Critical Illness

No waiver of premium benefit (care benefit) will be payable if the Critical Illness is caused or aggravated directly or indirectly by any of the following acts of the life insured unless those are beyond his / her control. Please refer the sales brochure for complete details.

Frequently Asked Questions

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What are the benefits of the PNB MetLife Goal Ensuring Multiplier?

Choice from below Plan options:

Option 1: Wealth: This option offers accumulated fund value to the policyholder at maturity. If policyholder dies during the policy term, lumpsum benefit will be paid to the nominee.

Additionally Joint life coverage, basis two lives may also be opted under this option

Option 2: Wealth + Care: This option gives life cover to the policyholder along with waiver of premium on specific Critical Illnesses

Option 3: Goal Assured: This option helps secure your goals in times of unforeseen events. In case of death of policyholder, lumpsum benefit will be paid to the nominee along with waiver of any remaining premiums. Additionally, the nominee will receive the accumulated fund value as maturity benefit

Option 4: Income Assured: This option provides additional income to the nominee after death of the policyholder along with lumpsum death benefit on death. Any remaining premiums will be waived off and the nominee shall receive the accumulated fund value at maturity

Option 5: Smart Child: This option offers life insurance cover to policyholder’s child. In case of policyholder’s death, future premiums will be waived off and policy shall continue with risk cover for the child and accumulated fund value will be received at maturity

Please refer to sales brochure for detailed benefit structure

Return of Charges

Return of Fund Management Charges (ROFMC¹)
Return of Premium Allocation Charges (ROPAC²)
Return of Mortality Charges (ROMC³)

Create your own wealth plan through a choice of portfolio strategies:

Self- managed strategy: Choose amongst 16 diverse funds.
Systematic transfer strategy: Transfer your premium to equities in regular monthly instalments.
Life-stage strategy: Personalise your portfolio to create an ideal balance between equity and debt, based on your age.

Enhance Your Fund Value:

Get rewarded with fund booster⁴ at end of 10th, 15th, 20th, 25th & 30th year

Who is eligible to buy this product?

	Wealth	Smart Child	Wealth + Care	Goal Assured	Income Assured
Minimum Entry Age (Yrs.)	0 (30 Days)	LA - 0 (30 Days) Policyholder/Proposer – 18	18
Maximum Entry Age (Yrs.)	Single Life: 60 Joint Life: 55 (Both lives)	LA - 25	60	45
Minimum Policy Term (Yrs.)	Single Life: Other than Whole Life: 10 Whole Life: 39 Joint Life: 10	10
Maximum Policy Term (Yrs.)	Single Life: Other than Whole Life: 30 Whole Life: 99 Joint Life: 10	25			20
Maximum Maturity Age (Yrs.)	Single Life: Other than Whole Life: 90 Whole Life: 99 Joint Life: 65	LA: 50 Proposer: 85	85	70	65
Premium Paying Term	Single Life: Other than Whole Life: Single Pay, Regular Pay, 5 Pay, 7 Pay, 10 Pay Whole Life: Regular Pay, 7 Pay, 10 Pay Joint Life: Single Pay	Regular Pay, 5 Pay, 7 Pay, 10 Pay
Minimum Premium	Single Pay: Rs 20,000 Minimum Annualized Premium: Rs 18,000
Maximum Premium	No Limit (Subject to Board Approved Underwriting Policy)

* For the Joint Life coverage, the entry age for any one of the lives should be at least 18 years.

* For the Wealth + Care option, maximum Premium Paying Term will be subject to age of life assured not exceeding 75 years at the end of premium paying term.

* For policies issued to minor lives under Wealth (Single Life) and Smart Child options, the minimum policy term would be subject to the life assured being at least 18 years at the time of maturity of the policy.

* LA denotes Life Assured

What is the Death Benefit payable under this policy?

On a valid death claim for an in-force policy where all due premiums have been paid, the benefit payable on the death of the Life Assured shall be:

Highest of the following amounts:

The Fund Value as on the date of intimation of death
The Sum Assured after deducting any Partial Withdrawals made during the two-year period immediately preceding the date of death
105% of the total Instalment Premiums received up to the date of death.

In the Goal Assured & Income Assured options, the fund value shall not be considered for death benefit

Plus, the highest of the following amounts

Top Up Fund Value as on the date of intimation of death
Top Up Sum Assured
105% of the total Top up premiums paid up to the date of death
Partial withdrawals from the Top-up fund shall not be deducted for the purpose of determining the death benefit

Where Sum Assured is defined as Single Pay/Annualized Premium * Sum Assured Multiple chosen at inception and Top Up Sum Assured is Top Up Premium * 1.25

What is the Maturity Benefit under this policy?

The Maturity Benefit is the amount payable to the Policyholder or the Nominee(s) on maturity of this policy at expiry of the Policy Term. The Maturity Benefit is equal to the Total Fund Value (including top-up fund value) in the Unit Account determined using the Net Asset Value on the Maturity Date.

How does Return of Charges work?

ROFMC for Single pay & 5 Pay would be for FMC deducted for first 5 years and for 7 pay & above would be for FMC deducted for first 7 years
ROPAC benefit expressed as percentage of Premium Allocation charges deducted in the policy. Total of 150% for policies with term greater than or equal to 20 years (paid equally at end of 10th, 15th and 20th policy year), 100% for policy term 15-19 years (paid equally at the end of 10th and 15th year) and 50% for policy term 10-14 years (at the end of 10th year)
ROMC is expressed as % age of mortality charges deducted in the policy. ROMC is not available for Single Pay

When will I receive a Fund Booster⁴?

The customer shall receive this additional benefit as per the following schedule:

Premium Paying Term	Fund Booster Percentage	Credit at the End of Policy Year
Regular Pay, 5 Pay, 7 Pay, 10 Pay	1%	15, 20, 25 & 30
Single Pay	2.4%	10, 15, 20, 25 & 30

What are additional benefits you get?

Waiver of Premium on Death:

In case of death within the Premium Paying Term for a In Force Policy, any future Installment Premiums that would otherwise have been payable under the Policy shall be waived.

This Benefit is applicable as follows

On the Life Assured for the Goal Assured & Income Assured options
On the Life of the Proposer for the Smart Child Option

Waiver of Premium on Critical Illness (Only under Wealth + Care Option):

In case of diagnosis of any one of the following five Critical Illnesses

Cancer of Specified Severity
First Heart Attack – of specified severity
Open Chest CABG
Kidney Failure Requiring Regular Dialysis
Stroke resulting in Permanent Symptoms

Disclaimer:

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 Goal Ensuring Multiplie 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. The policyholder can know the value of policy wise units as per the FORM D02 through a secured login on the PNB MetLife website (www.pnbmetlife.com)

For More details on risk factors, terms and condition please read the sales brochure before concluding the sale. For Further details on all the conditions exclusions related to product, please contact our insurance advisors. The Investment risk in investment portfolio is borne by the policyholder.

¹Return of Fund Management Charges (ROFMC) for Single pay & 5 Pay would be for FMC deducted for first 5 years and for 7 pay & above would be for FMC deducted for first 7 years. This will be credited back at the end of the 10th policy year.

²Return of Premium Allocation Charges (ROPAC) is expressed as percentage of Premium Allocation charges deducted in the policy. The value of ROPAC would be 150% for policies with term greater than or equal to 20 years (paid equally at end of 10th, 15th and 20th policy year), 100% for policy term 15-19 years (paid equally at the end of 10th and 15th year) and 50% for policy term 10-14 years (at the end of 10th year).

³Return of Mortality Charges (ROMC) is expressed as percentage of mortality charges deducted in the policy (net of any taxes). ROMC is not available for Single Pay.

Tax Benefits under this plan may be available as per the provisions and conditions of the Income Tax Act, 1961 and are subject to any changes made in the tax laws in future. Please consult your tax advisor for advice on the availability of tax benefits for the Premiums paid and proceeds received under the policy for more details.

⁴For Regular Pay, 5 Pay, 7 Pay & 10 Pay: Fund Booster at the end of 15th, 20th, 25th & 30th years. For Single Pay: Fund Booster at the end of 10th, 15th, 20th, 25th & 30th years

⁵Waiver of Premium on death is available in Smart Child, Goal Assured & Income Assured options and Waiver of Premium on critical illness is available in Wealth + Care option.

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