3.

PNB MetLife Smart Platinum Plus

Muskan Shah

An Individual, Unit linked, Non-participating, Life Insurance plan

A sound financial protection plan is the key to realize your life goals and help shape your family’s
future the way you want to.

Presenting PNB MetLife Smart Platinum Plus- a whole life protection and savings oriented unit
linked insurance plan - which offers life insurance cover to protect your family in case of your
unfortunate demise and provides you with tailor-made solutions to achieve your goals, including an
option where wealth creation doesn’t take a back seat even during critical illness.

In this policy, the investment risk in investment portfolio is borne by the policyholder. PNB MetLife
Smart Platinum Plus - a whole life protection and savings oriented unit linked insurance plan - offers
life insurance cover to protect your family in case of your unfortunate demise and provides you with
tailor-made solutions to achieve your goals, including an option where wealth creation doesn’t take a
back seat even during critical illness.

Key Benefit

WITH PNB METLIFE SMART PLATINUM PLUS

Pay for a limited Period & stay protected for Whole Life.
Protect your family for whole of life.
Safeguard your goals against Critical Illness through ‘Care Benefit’.
Create a personalized wealth plan with your choice of portfolio strategies.

MetLife offers this Smart Platinum plan that enables you to enhance your investment
portfolio with the option of six different funds. The policy provides protection till the age of
99 years with a premium payment period of 5 years, 10 years or your whole life. Since this is
a unit-linked insurance plan, takers of this plan must know that the investment risk will be
borne by you.

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 Eligibility
Those who wish to purchase the MetLife Smart Platinum Plan must satisfy the eligibility criteria
set out by PNB MetLife. The eligibility criteria for the MetLife Smart Platinum Plan are given
below:

Minimum age at entry 7 years

Maximum age at entry 70 years

Type of plan Unit-linked insurance plan

Payroll Savings Program, Monthly, Quarterly, Half-yearly,

Premium payment modes
Yearly

Premium payment terms 5 years, 10 years or entire policy term

Sum Assured and Premium Range

The minimum premium amount is based on the premium payment mode you choose. The
options of minimum premium paid per policy year are listed out below:

Premium Payment Mode Minimum Annualized Premium

Annual mode Rs.30,000/-

Bi-Annual mode Rs.60,000/-

Quarterly mode Rs.60,000/-

Monthly mode Rs.60,000/-

Payroll Savings Program Rs.60,000/-

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 Pros:

With the MetLife Smart Platinum Plan, you stand to benefit from the following:

Choice to invest in 6 unit-linked funds to suit your risk appetite

Flexible premium payment terms of 5 years, 10 years or the entire term
Coverage till the age of 99 years
Flexible options to increase or decrease the sum assured according to changing needs
during your life
Partial withdrawal options allows for liquidity during times of financial need
Auto rebalancing option at fund value movements selected by you which enable you to
gain from market opportunities
Tax benefits as per the Income Tax Act 1961.

Death Benefit:
In case of your unfortunate demise during the policy term or before the maturity date, the person
you nominate will receive the following benefits:

Upon death before the age of 60, the higher of the following will be paid out:
The base fund value, i.e., the value of the units in the base premium account
The base sum assured minus any partial withdrawals in the last 24 months before the date
of death
105% of the total premiums paid, including both regular and limited premiums
Upon death after the age of 60, the higher of the following will be paid out:
The base fund value, i.e., the value of the units in the base premium account
The base sum assured minus any partial withdrawals in the last 24 months before the date
of death or any partial withdrawals made post the age of 60, whichever is higher
105% of the total premiums paid, including both regular and limited premiums
Upon death during the grace period, notice period or before the discontinuance of the
policy due to non-payment of premiums, then the death benefit will be paid after
deducting overdue charges, mortality charges, and policy administration charges.

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Maturity Benefit:

Once you attain the age of 99 years, the policy will mature at the start of the policy year. The
total fund value in the unit account will be the value of the maturity benefit. This is determined
by the net asset value on the date of maturity of the policy.
PROS CONTINUE:

Prospective customers and existing customers of PNB MetLife can avail a host of benefits and
services offered by the company through their website, branches and customer care. Customers
who wish to purchase a plan can find all relevant information in the brochures and on the website
and get sound advice from experts. PNB MetLife offers the following benefits to their
customers:

Meet an insurance and investment advisor through PNB MetLife

Compare different protection plans
Calculate your premium payment using the Premium Calculator
Contact the customer care via phone, fax, email, or SMS
Download the brochure
Locate a PNB MetLife branch
Read the terms and conditions
Get the Premium Rates Form

Cons:

If the life insured commits suicide within one year from the commencement date of the
policy, whether sane or insane, MetLife will not be liable to pay the sum assured.
If the life insured commits suicide within one year from the reinstatement date of the
policy, whether sane or insane, MetLife will not be liable to pay the sum assured.
MetLife will refund the Fund Value as is on the date of death.
Any charges applied after the date of death will be refunded to the nominee.

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 Analyzing:

PNB MetLife ranks amongst one of the top insurance providers in India and the company is
known for providing the best products and customer service. Securing your future with PNB
MetLife Insurance Plan is a perfect way to secure the financial well-being of your family.

The PNB MetLife savings investment plans are designed to help customers achieve their
financial goals. The savings-investment plans offer wealth creation along with protection under a
single policy.

In this, the policyholder has the option to pay the premiums throughout the policy term or
for a short duration of five or ten years while they enjoy coverage until the age of ninety-
nine. The policy ensures that the families of the policyholders are protected in the tragic
event of the policyholder’s death as they will receive the entire Sum Assured of the Fund
Value as the Death Benefit. The policyholder has a choice of six different funds in which
to allocate their investments. Liquidity of funds is available in the form of partial
withdrawals. The policyholder may top- up his or her premium with a lump sum amount.
The policyholder has a choice of premium payment term. He or she may choose to pay
premiums for only five years or ten years or even throughout the policy term, while they
receive coverage until the age of 99.

Suggestions:

The plan should offer potential market-related returns.

The policyholder should get the entire value of the fund on the maturity of the plan.
It must help the policyholder with investment strategies and fund options.

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