Individual, Non-Participating, Unit Linked, Pension Savings Plan | UIN: 117L138V01
PNB MetLife Smart Invest Pension Plan Pro is an Individual, Non-Participating, Unit Linked Pension Savings Plan, which offers the flexibility to choose your investment strategy and build a strong retirement fund. It also provides the added security of life insurance to protect your family financially, ensuring peace of mind for your future and their well-being, even in your absence.
What you don’t get
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.
| Particulars | Retire Secure | Retire Secure Plus | ||||||||||
| Minimum Age* at Entry | 25 years | 25 years | ||||||||||
| Maximum Age* at Entry | 70 years | Regular Pay: 60 years |
||||||||||
| Minimum Age* at Vesting | 35 years | 35 years | ||||||||||
| Maximum Age* at Vesting | 80 years | Regular Pay: Upto Entry Age* 40: 75 years Entry Age* > 40: 70 years Limited Pay: 75 years |
||||||||||
| Minimum Annualized Premium^ | Single Pay#– Rs. 49,999 Limited Pay/Regular Pay– Rs. 24,000 Monthly Mode – Rs. 2,000, Quarterly – Rs. 6,000, Half Yearly – Rs. 12,000 |
|||||||||||
| Maximum Annualized Premium^ | No Limit, as per Board Approved Underwriting Policy (BAUP) | |||||||||||
| Sum Assured | 105% of the Total Premiums Paid up to the date of death | |||||||||||
| Premium Payment Term | Single Pay# Regular Pay Limited Pay-5/7/10/15 years |
Regular Pay Limited Pay-5/7/10/15 years |
||||||||||
| Minimum Policy Term |
|
|||||||||||
| Maximum Policy Term | Single Pay# - 40 years Limited Pay / Regular Pay- 50 years |
Limited Pay / Regular Pay: 50 years | ||||||||||
| Premium Payment Mode | Single#, Yearly, Half-Yearly, Quarterly & Monthly** |
|||||||||||
*All references to age are as on age last birthday
**Monthly mode is available for Standing instruction/direct debit options (including Electronic Clearing System (ECS), and Automated Clearing House (ACH)
#Single pay is available only with Retire Secure Plan Option
^Annualized premium means the premium amount payable in a year excluding taxes, rider premiums and underwriting extra premium on riders, if any.
Retire Secure:
In case of the unfortunate death of the Life Assured during the Policy Term, the death benefit shall be higher of:
Options to the Nominee or Beneficiary on death of the Life Assured
The nominee will have the following options to choose from on death of the life assured: -
In case the proceeds of the Policy are not sufficient to purchase minimum annuity of Rs.1,000 per month or any other minimum annuity amount as prescribed by the Authority from time to time, such proceeds of the Policy will be paid as lump sum.
Sum assured will be reduced to the extent of partial withdrawals made in the last two years immediately preceding the date of death. Partial withdrawals made from Top-up premium shall not be reduced for this purpose.
Retire Secure Plus:
Death during the Premium Paying Term:
In case of unfortunate death of the Life Assured We will pay highest of following amounts to the Nominee:
Further, policy shall continue till the end of the Policy Term.
All future premiums will be waived off and an amount equal to prevailing Installment Premium will be paid into the fund at each future premium due date date in the same proportion as the value of the total Units held in each fund at the time of Allocation.
Vesting Benefit will be payable to nominee at the end of policy term.
Death after the Premium Paying Term:
In case of unfortunate death of the Life Assured We will pay highest of following amounts to the Nominee:
Further, the policy shall continue till the end of the policy term.
Vesting Benefit will be payable to nominee at the end of policy term.
Where, Sum Assured is 105% of the Total Premiums Paid*** up to the date of death
***“Total Premiums Paid” means the total of all premiums received under the base product including top-up premium paid, if any.
Total Fund Value (including Top Up Fund Value, if any) as on the date of vesting shall be payable as Vesting Benefit to the Life Assured / Nominee.
Vesting Benefit shall be payable to:
Retire Secure:
Retire Secure Plus:
Options on Vesting
Life Assured / Nominee shall have the following options on vesting to choose from:
Irrespective of the aforementioned options chosen, Life Assured / Nominee also has an option to purchase immediate annuity or deferred annuity from any another insurer at the then prevailing annuity rate by utilising not more than 50% of the proceeds of the policy net of commutation.
In case the proceeds of the Policy on Vesting, net of commutation are not sufficient to purchase minimum annuity of Rs.1,000 per month, or any other minimum annuity amount as prescribed by the Authority from time to time, such proceeds of the Policy will be paid to the Policyholder or beneficiary as lump sum.
You have an option to postpone the vesting date of the policy (the date on which you will get the Vesting Benefit from the policy). The minimum postponement can be of one year and maximum would be up to the maximum maturity age depending upon the plan option chosen. However, this option is only available until the Life Assured turns 60.
Partial withdrawal is allowed only three times during the entire term of the policy.
Plan offers Return of Mortality Charge with Retire Secure Plan Option.
Waiver of Premium on death is available with Retire Secure Plus Plan Option.
Disclaimer:
The Linked Insurance Product 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 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 Invest Pension Plan Pro 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 past performance of the funds is not indicative of the future performance. 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) 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. Goods and Services Tax (GST) shall be levied as per prevailing tax laws which are subject from time to time. For more details on risk factors, terms and conditions, please read the sales brochure before concluding any sale. For Further details on all the conditions exclusions related to product, please contact our insurance advisors.
1Return of Mortality Charges will be paid if all the due premiums are paid, and policy is in force. Return of Mortality charges is available only for Retire Secure Plan option.The amounts mentioned above is exclusive of Goods & Services tax
AD-F/2025-26/191
RELATED PRODUCTS
Let our specialist craft the most suited
financial solution for you!
As your trusted life insurance partner, PNB MetLife covers COVID-19 claims. In the event of a death claim, please submit a signed claim form mentioning the policy number, a brief description of the insured event, and all other mandatory claim documents to the email addresses provided below. You may write to us at claimshelpdesk@pnbmetlife.com or indiaservice@pnbmetlife.co.in. For death claim intimation or any queries, you can also call us at 1800-425-6969 (for customers calling from within India only), Monday to Saturday, between 10:00 am and 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.
Get Trusted Advice
Ask khUshi
Hi! I’m khUshi. How can I help you?
