PNB MetLife Smart Platinum Pro

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Presenting PNB MetLife Smart Platinum Pro, a smart plan to protect your family’s future while building wealth to achieve your long-term goals. With this plan, your fund grows with regular boosters till the end of the term and at the same time you have the flexibility to plan for your future needs through systematic withdrawals.

PNB MetLife Smart Platinum Pro in a nutshell

Whole life Cover upto Age 99 years¹
Multiple Options to cater to different needs
High Sum Assured Multiple² upto 40 times of Annualized Premium
Decreasing Cover³ option with Sum Assured multiple reducing after every 5 years
Return of Premium Allocation Charge and Mortality Charge
Fund Boosters⁴ as percentage of Fund Value starting from 15th policy year
3 Investment Strategies – Self-Managed, Systematic Transfer and Life-Stage Strategies
Choice of 7 funds including the recently launched Dividend Leaders Index Fund⁵
Enhance your coverage through PNB MetLife Linked Accidental Death Benefit Rider (UIN: 117A024V01)

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What you get

Choose from 4 Plan Options
Wealth Option
Wealth Plus Option
Goal Assured Option
Income Assured Option
Option to choose high Sum Assured multiple² upto 40 times of the Annualized Premium, that reduces gradually over Policy Term to match your protection needs
In-Built Waiver of Premium⁷
Avail Systematic Withdrawal Facility from 6th Policy year onwards
Premium Flexibility – you may choose to pay premiums based on your financial needs

Fund Performance

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What you don’t get

Suicide Exclusion

In case of death due to suicide within 12 months from the date of commencement of the policy 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 Charge (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.

Frequently Asked Questions

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What are the benefits of PNB MetLife Smart Platinum Pro?

Choose from below Plan Options:

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

Option 2: Wealth Plus: This Option offers accumulated fund value to the policyholder at maturity. If the Life Assured dies during the policy term, lumpsum benefit will be paid to the nominee. With this option, you can opt for a higher Sum Assured multiple² upto 40 times, additionally your sum assured multiple reduces by 5 after every 5 years to align your cover with age.

Option 3: Goal Assured: This option helps secure your goals in times of unforeseen events. In case of death of the Life Assured, 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.

Please refer to sales brochure for detailed benefit structure.

Return of Charges

Return of Premium Allocation Charges (ROPAC)
Return of Mortality Charges (ROMC)

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

Self-Managed Strategy: Choose amongst 7 diverse funds.
Systematic Transfer Strategy: Transfer your premium to equities in regular monthly instalments.
Life-stage strategy: Personalize your portfolio to create an ideal balance between equity and debt, based on your age.

Fund Boosters:

Get fund boosters starting from the end of 15th Policy year.

Who is eligible to buy the policy?

Parameters\ Plan Options		Wealth Option	Wealth Plus Option	Goal Assured Option	Income Assured Option
Age at Entry^* (years)	Minimum	0 (30 days)^*		18
Age at Entry^* (years)	Maximum	70	60^#	45 (PPT < 10 Pay) 50 (PPT > = 10 Pay)
Policy Term	Minimum	99 minus Age at Entry \| 80 minus Age at Entry		10
Policy Term	Maximum	99 minus Age at Entry \| 80 minus Age at Entry		25	20
Maturity Age^* (years)	Minimum	99 (To Age 99 yrs option) 80 (To Age 80 yrs option)		28
Maturity Age^* (years)	Maximum	99 (To Age 99 yrs option) 80 (To Age 80 yrs option)		75	70
Premium Payment Term		To Age 99 yrs option: Single Premium \| Limited Pay: 5 to (80 minus Age at Entry) years To Age 80 yrs option: Single Premium \| Limited Pay: 5 to 79 years \| Regular Pay	To Age 99 yrs option: Limited Pay: 5 to (80 minus Age at Entry) years To Age 80 yrs option: Limited Pay: 5 to 79 years \| Regular Pay	Limited Pay: 5 to 24 years \| Regular Pay	Limited Pay: 5 to 19 years \| Regular Pay
Minimum Premium		Single Premium: Rs. 8,000 Limited Pay/ Regular Pay: Rs. 18,000 p.a.
Maximum Premium		No limit, subject to Board Approved Underwriting Policy
Sum Assured		Sum Assured Multiple X Annualized^~/ Single Premium
Premium Payment Frequency		Single, Yearly, Half–Yearly, Quarterly, Monthly^{^}
Rider Options		PNB MetLife Linked Accidental Death Benefit Rider (UIN: 117A024V01)

^*All references to age are as on age last birthday
^For 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
^{^}Monthly mode is available for Standing instruction/direct debit options (including Electronic Clearing System (ECS), and Automated Clearing House (ACH))
^#For Wealth Plus option, max entry age for PPT 5, 6, 7, 8 is restricted to age 45, 50, 55, 55 respectively, refer the Maximum Sum Assured Cover Multiple in the Death Benefit Section of Brochure.
^~Annualized premium is the premium amount payable in a year excluding taxes, rider premiums and underwriting extra premium on riders, if any.

What is the Death Benefit 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 (excluding Top-Up Fund Value, if any) as on the date of intimation of death
The Sum Assured after deducting any Partial Withdrawals (including Withdrawals under Smart Withdrawal Facility) made during the two-year period immediately preceding the date of death
105% of the Total Premiums Paid (excluding Top-Up Premiums, if any) up to the date of death less all Partial Withdrawals (including Withdrawals under Smart Withdrawal Facility) made during the two-year period immediately preceding the date of death

In the Goal Assured & Income Assured options, the Fund Value shall not be considered for death benefit⁶.

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 the policy at expiry of the Policy Term. The Maturity Benefit is equal to the Fund Value (including top-up fund value) in the Unit Account determined using the Net Asset Value on the Maturity Date.

How does the Return of Premium Allocation Charge (ROPAC) benefit work?

At the end of 15th and 20th policy year, units equivalent to 50% of the Total Premium Allocation Charge (excluding any applicable Goods and Service Taxes and excluding any premium allocation charge for Top-Up Premiums) deducted in the Policy will be added, provided the policy is in-force and all due installment premiums have been paid, or waived as per the Waiver of Premium on Death of Life Assured clause as per the terms and conditions of this Policy.

How does the Return of Mortality Charge (ROMC) benefit work?

At maturity of the policy, a percentage of the total Mortality Charge (excluding extra mortality charges collected, if any) deducted with respect to the Life Assured (excluding applicable Goods and Services Tax and Mortality Charges deducted with respect to Top-up Sum Assured) during the Policy Term will be added back to the Fund Value, subject to survival of the Life Assured till the end of the Policy Term and provided all due installment premiums have been paid.

The benefit is available only for Goal Assured and Income Assured plan Options.

When will I receive a Fund Booster?

Provided the policy is in force and all due Instalment premiums till date have been paid or waived as per the Waiver of Premium on Death of Life Assured clause as per the terms and conditions of this Policy, , starting from the end of the 15^th policy year till the end of Policy Term, Fund Boosters will be allocated to your policy.

Fund Boosters are defined as a percentage (0.25%) of the average daily Fund Value for each Fund during that same 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 Fund Value for the purpose of this addition shall exclude Fund Value created with respect to the Top-Up Premiums.

What is the Death Benefit Payable when opted for PNB MetLife Linked Accidental Death Benefit?

In the event of the death of the Life Assured due to an accident occurring within the policy term, 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.

How can I purchase PNB MetLife Smart Platinum Pro?

You can purchase this plan offline through any of the below methods:

Send me an Advisor
Visit the nearest branch
Contact us

Disclaimer:

THE UNIT LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICYHOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN UNIT LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF THE FIFTH YEAR.
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 Pro (UIN: 117L142V01) 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.
¹Available for Wealth & Wealth Plus Option.
²Sum Assured Multiple varies with combinations of Age at Entry, Premium Payment Term, Policy Term and Plan Option.
³Available for Wealth Plus Option Only.
⁴Fund Boosters as percentage of Fund Value starting from the end of 15^th Policy Year.
⁵At PNB MetLife we are delighted to offer the “Dividend Leaders Index Fund” (ULIF03916/01/26DIVIDENDFN117). The fund aims to generate long-term capital appreciation by replicating the BSE 500 Dividend Leaders 50 Index (Customised), subject to tracking error. The index selects top 50 companies in BSE 500 based on their dividend history.
⁶Under Goal Assured & Income Assured plan options, the policy will continue with the fund value (excluding top-up fund value) and without any risk cover which will be paid on maturity. All future due premiums shall be waived and an amount equal to prevailing instalment premium will be paid into the fund at each future premium due date as agreed by the policyholder, following the death of the life assured.
⁷It is available for Goal Assured option & Income Assured Option.

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