Individual, Unit-Linked, Non-Participating, Life Insurance Plan | UIN: 117L125V05
Presenting PNB MetLife Smart Platinum Plus — a whole life protection and savings plan which offers a life insurance cover to protect your family in case of your unfortunate demise while also providing you with tailor-made solutions to achieve your goals. With this plan, wealth creation doesn’t have to take a back seat even during critical illness7.
New Fund Option
At PNB MetLife we are delighted to offer a new fund, the “Nifty 500 Momentum 50 Index Fund” (ULIF03115/02/25NIFTYMOMEN117). The objective of the fund is to invest in a basket of stocks drawn from the constituents of NSE’s NIFTY 500 Momentum 50 Index, subject to regulatory limits. The Nifty 500 Momentum 50 Index aims to track the performance of the top 50 companies within the Nifty 500 selected based on their Normalized Momentum Score. Historical data from NSE suggests that the momentum strategy has outperformed vs broader indices in the past. Regulations may restrict us from investing in all the stocks/sectors in line with their weights in the index from time to time, resulting in tracking error. The index funds which track momentum strategies are best suited for individuals with very high-risk tolerance and long-term investment goals.
What you don’t get
Suicide Exclusions
In case of death of the Life Assured, due to suicide within 12 months from the Date of Commencement of Risk, or from the date of Revival of the Policy, as applicable, Our liability to make payment under the Policy shall be limited to refunding the Fund Value as on date of intimation of Life Assured’s death. Any charges other than the Fund Management Charges (FMC) recovered subsequent to the date of death shall be added back to the Fund value as available on the date of intimation of death.
Waiting period for Wealth + Care option
For ‘Wealth + Care’ option there will be a waiting period of 90 days from Date of Commencement of Risk or the date of the last Revival of the Policy, whichever is later – for the Care Benefit to be applicable. If a claim occurs for the Care Benefit under ‘Wealth + Care’ option during waiting period, no benefit shall be payable, i.e. future due premiums shall not be waived off. the Care Benefit cover will terminate and no future Morbidity Charges would be deducted from the fund.
Exclusions of Critical Illness7
No waiver of premium2 benefit will be payable if the Critical Illness7 is caused or aggravated directly or indirectly by any of the mentioned acts in Term & Conditions of the life insured unless those are beyond his / her control. Please refer complete Sales Brochure.
Other Exclusions
Choice from the below Plan Options:
Option 1: Wealth Option
This option offers benefit on death or maturity.
Option 2: Wealth + Care Option
This option offers in addition to the above benefits a Care Benefit on occurrence of Critical Illness7. On occurrence of any one of the 5 listed Critical Illnesses7, as a part of Care Benefit, all future due premiums shall be waived and an amount equivalent to premiums (chosen at inception) will be paid into the fund at each future premium due date following the date of diagnosis of Critical Illnesses7.
The benefits will vary based on the Option chosen by the Policyholder
Premium Payment Flexibility
Choose your Sum Assured Multiple
Return of Fund Management Charges at the end of the 6th policy year
Total FMC charges deducted till the end of 5th policy year1 will be added back to the fund value at the end of the 6th policy year.
Create your own wealth plan through a choice of portfolio strategies:
Enhance your fund value
Get rewarded with fund booster at end of year 10th Policy Year
Enjoy Tax3 Benefits
You may be eligible to avail Tax3 benefits on premiums paid and benefits received, as per prevailing tax laws.
Refer to the below table for the detailed eligibility criteria for this policy:
Product Specification |
Wealth Option |
Wealth + Care Option |
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Age at entry (Years) 4 |
Minimum |
0 (30 days)5 |
18 |
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Maximum |
70 |
65 |
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Maturity age (Years)4 |
Two Maturity Options to choose from: |
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Policy Term (Years) |
Maturity Option 1: 80 - age at entry |
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Premium Paying Term (PPT) (Years) |
Minimum |
|
Limited premium : 6 |
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Maximum |
Single premium |
25 (subject to age of life assured not exceeding 75 at the end of PPT) |
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Both the above plan options offer all integer Premium Paying Term between minimum to maximum Premium Paying Terms mentioned in the table above (both inclusive). |
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Annualized Premium (Rs.) |
Minimum |
|
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Maximum |
As per board approved underwriting policy |
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Sum assured cover multiple |
Minimum |
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Maximum |
|
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Sum Assured (Rs.) |
Minimum |
For Single Premium: 60,000 |
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Maximum |
Annualised Premium (or Single Premium) 4Sum Assured cover multiple given above |
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Premium Payment Mode |
Annual, Half Yearly and Monthly6 |
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4All references to age are as on age last birthday
5For policies issued to minor lives the risk cover starts immediately at inception. In case the life assured is a minor, the policy will vest with the life assured when the life assured attains an age of 18 years.
6Monthly mode is available for Standing instruction/direct debit options (including Electronic Clearing System (ECS), and Automated Clearing House (ACH))
If the Life Assured’s death occurs while the Policy is in In-Force Status on the date of the Life Assured’s death, and the Policy and all rights, benefits and interests under this Policy shall immediately and automatically terminate.
The Death Benefit payable will be higher of -
Where Sum Assured is higher of:
On survival of the Life Assured till the end of the policy term, provided the policy is in force and all due premiums are paid, we will pay the maturity benefit which is equal to total fund value as on the maturity date and all rights, benefits and interests under this Policy shall immediately and automatically terminate.
Maturity Options available under this plan are:
Option 1: Cover up to age 80 years
Under this option, the life cover will be available till age 80 years, i.e. policy term will be equal to 80 minus age at entry.
Option 2: Cover up to age 99 years
Under this option, the life cover will be available till age 99 years, i.e. policy term will be equal to 99 minus age at entry.
The total of Fund Management Charges (excluding any applicable goods and service taxes) deducted during the first 5 years of the policy net of taxes will be added back to the Fund Value at the end of the 6th policy year.
For a premium payment term of 5 years, the total of Fund Management Charges (excluding any applicable goods and service taxes) deducted during the first 3 years of the policy net of taxes will be added back to the Fund Value at the end of the 6th policy year.
Return of Fund Management Charge will be payable provided the policy is in force and all due instalment premiums till end of the 6th policy year have been paid in full.
This benefit will not be available in case of Single Pay premium payment option.
Fund Boosters will be allocated to your policy at the end of the 10th policy year provided the policy is in force and all due instalment premiums till date have been received in full.
The Fund Booster at the end of the 10th year will be defined as a percentage of Average Daily Fund Values for each Fund during that same policy year at the end of the 10th policy year. If the policyholder has chosen multiple funds, a Fund Booster will be allocated to each fund based on the fund value of that particular fund and Fund Booster percentage. Fund Booster will be made by allocation of extra units based on the NAV as on the due date of the credit of fund booster.
The allocation of Fund Booster units is guaranteed and shall not be revoked by the company under any circumstances.
End of Policy year/ Fund |
Protector II, Bond Opportunities Fund, Liquid Fund, Balancer II & Balanced Opportunities Fund |
Multiplier III, Premier Multi-cap Fund, Mid Cap Fund, CREST (thematic fund), Flexi Cap Virtue II, Small Cap Fund, Bharat Manufacturing Fund, Bharat Consumption Fund & Nifty 500 Momentum 50 Index Fund |
10 |
0.75% of Fund Value |
1% of Fund Value |
Under Option 2: Wealth + Care Option - on occurrence of any one of the 5 listed Critical Illnesses, all future premiums that would otherwise have been payable shall be waived for the remainder of the premium payment term and the company will continue to allocate units to your policy as if the premiums are being paid, at each future premium due date following the date of diagnosis of Critical Illnesses.
In the event of the death of the life insured due to an accident occurring within the policy term, 100% of Rider Sum Assured shall be payable. The Policyholder can opt for this rider either at inception along with the base policy or at any policy anniversary during its tenure.
You can purchase this plan offline through any of the below methods:
Disclaimer:
PNB MetLife Smart Platinum Plus is an Individual, Unit linked, Non-participating, Life Insurance plan (UIN: 117L125V05). Please consult your advisor for more details. In this policy, the investment risk in investment portfolio is borne by the policyholder. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding any sale.
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 Smart Platinum Plus 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.
8Fund Boosters are defined as a percentage of Average Daily Fund Values for each Fund Values for each Fund during that same Policy Year at the end of the 10th policy year
AD-F/2024-25/1450
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As your trusted life insurance partner, PNB MetLife is with you amidst the current COVID-19 outbreak. Our policies also cover COVID-19 Claims. In case of a Death Claim, kindly submit the signed Claim Intimation Letter mentioning the policy number, brief of the insured event and other claim documents on the email mentioned herewith. Please write-in to us at claimshelpdesk@pnbmetlife.com or indiaservice@pnbmetlife.co.in. You can also call us on 1800-425-6969 for death claims intimations and for any queries on Monday - Saturday between 10:00 am - 7:00 pm.
PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance Plans, Term Plan, Protection Plans, Long Term Savings Plans , Retirement Plans & Child Education Plan.
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