Every person who is earning money by way of working, doing business or any other means of earning, should buy an insurance policy.
Insurance should be for self and their family members too, as a precautionary measure, as life is unpredictable.
The topmost common reason is to ensure that money is available to the persons, who are financially dependent on you in case of your untimely death. This may be due to an accident or medical complications.
The needs are basically for food, shelter, medical facilities, children’s education and other necessities of life.
Your near and dear persons, who look up to you as their guardian or savior may be traumatized by the death, mentally and financially.
Buying life insurance plans for yourself for enabling your dependents to continue to maintain their standard of living, even after your death is one of the compelling decisions you must take, as you live only once in a lifetime.
PNB MetLife Insurance offers you a wide array of insurance products for financial protection and safe incremental investment plans.
It may be conventional or Unit Linked Insurance Plans(ULIP) ’s, term plans, child plans, savings plans, pension plans.
PNB MetLife Insurance provides a one-stop solution for all types of investments. To cater to the requirements of every individual who wants to invest in life insurance or life insurance related financial products.
PNB Metlife Unit Linked Insurance Plans NAV
PNB MetLife Insurance Plan (ULIP) is an insurance policy, which provides investment options along with risk cover. The ULIP’s are directly related to the ups and downs of volatile capital markets.
ULIP’s are controlled by financial experts of the company, who are well trained to foresee the equity market challenges. They invest money pooled in by the investors as per the NAV and garner profits for their investors.
NAV or Net Asset value is the total market value of the money invested divided by the number of securities purchased. This value is the price of one unit of the fund.
The premium paid for the PNB Metlife ULIP is invested at the current NAV. The insurance premiums are allocated to funds which are offered by the company which has different risk profiles. The money you invest in a ULIP are put into three types of funds:-
• High-Risk Equity Funds
• Low-Risk Debt Funds
• Balanced Fund which is a mix of Equity Funds and Debt Funds.
The financial returns are directly proportional to the risk profile of the fund. For smooth operation of ULIP’s, the company PNB MetLife deducts applicable charges, eg. Administration charges, Fund management charges from the premium paid by you for your insurance.
The premiums are locked in for a minimum period of 5 years, and partial withdrawal is allowed after this time span. The premium amount you pay will decide your insurance coverage.
The policyholder has the option of switching over from one fund to another which is however regulated. The risk of investing in a ULIP has to be borne by the investor.
PNB Metlife Unit-linked Insurance Company offers several unit-linked insurance plans, to satisfy every customer. These plans are suitable for persons who are ready to invest money for higher gains, taking into consideration the risk factors involved.
A. MetLife Smart Platinum Plan
This PNB MetLife Insurance ULIP plan covers the insured person, till the age of 99 years. The premiums can be paid as per the PNB MetLife Insurance NAV for a limited tenure or lifetime.
Subject to certain terms, the sum assured may be varied. During the plans tenure if the insured person dies, then the higher of the sum assured is paid to the nominee after deduction of any partial withdrawals made during the policy term.
The fund value is payable after the insured person reaches the age of 99 years. The premiums may be invested in 6 prominent funds or invested as per the Automatic Asset Rebalancing procedure by the fund manager, after the deduction of the relevant charges by best PNB MetLife Insurance.
The premium is invested by the company in the Flexi Cap Fund and Protector II fund.
The Insurance policyholder can invest himself under the self-managed option into the following six funds:- Protector II, Preserver II, Balancer II, Flexi Cap, Virtual II, Multiplier II.
This policy allows four free annual switchovers, along with partial withdrawal subject to a limit. Income Tax rebate can be availed as per existing Income tax laws.
B. Met Life Easy Super Plan
This PNB MetLife Insurance ULIP plan under the Settlement Option Feature permits disbursement of the fund value after the maturity period in installments or as a one-time payout amount.
If the insured person dies within the plan’s tenure, then the higher of the basic sum assured after deducting the partial amount withdrawn or 105% of all paid premiums is disbursed to the nominee as a death benefit.
The premiums can be paid as per the PNB MetLife India Insurance NAV into six funds of choice. It may be invested by the fund manager under the Automatic Asset Rebalancing strategy into Flexicap Fund and Protector II Fund at a specific ratio.
The Insurance policyholder can invest himself under the self-managed option into the following six funds:- Protector II, Preserver II, Balancer II, Flexi Cap, Virtual II, Multiplier II.
This policy allows four free annual switchovers, along with partial withdrawal subject to a limit. Income Tax rebate can be availed as per existing Income tax laws.
C. MetLife Dhansamriddhi
This PNB MetLife Insurance ULIP plan is unique because of its Single Pay option. The premium has to be paid only once as per the PNB MetLife India Insurance NAV at the commencement of the policy.
The investment is made into the following six choices of funds:- Protector II, Preserver II, Balancer II, Flexi Cap, Virtual II, Multiplier II.
After the policy attains maturity date, the investor is entitled to a loyalty addition. If the premium is equal to or greater then Rs 10 Lakhs, the insured person is eligible for an amount at the rate of 0.5% of the fund value.
This ULIP plan under the Settlement Option Feature permits disbursement of the fund value after the maturity period in installments or as a one-time payout amount.
If the insured person dies within the plan’s tenure, then the higher of the basic sum assured after deducting the partial amount withdrawn or 105% of all paid premiums is disbursed to the nominee as a death benefit.
This policy allows four free annual switchovers, along with partial withdrawal subject to a limit. Income Tax rebate can be availed as per existing Income tax laws.
D. Met Life Smart One Plan
In this PNB MetLife Insurance Ulip Plan, the insured investor has a Single Pay option. The premium has to be paid only once as per the PNB MetLife India Insurance NAV at the commencement of the policy.
The premiums may be invested in 6 prominent funds or invested as per the Automatic Asset Rebalancing procedure by the fund manager, after the deduction of the relevant charges by PNB MetLife Insurance.
The company invests the premium in the Flexi Cap Fund and Protector II fund at a particular ratio.
The Insurance policyholder can invest himself, under the self-managed option into the following six funds:- Protector II, Preserver II, Balancer II, Flexi Cap, Virtual II, Multiplier II.
From the 6th policy year to the 10th policy year, loyalty additions are awarded at the rate of 0.4% to 1% of the fund value, subject to the premium paid amount.
This ULIP plan under the Settlement Option Feature permits disbursement of the fund value after the maturity period in installments or as a one-time payout amount.
If the insured person dies within the plan’s tenure, then the higher of the basic sum assured after deducting the partial amount withdrawn or 105% of all paid premiums is disbursed to the nominee as a death benefit.
This policy allows four free annual switchovers, along with partial withdrawal subject to a limit. Income Tax rebate can be availed as per existing Income tax laws.
E. Met Life Smart Child Plan
This PNB MetLife India Insurance plan is dedicated to children’s benefits on the death of the insured. The premiums may be invested in 6 prominent funds viz — Protector II, Preserver II, Balancer II, Flexi Cap, Virtual II, Multiplier II after the deduction of the relevant charges by PNB MetLife.
If the insured person dies within the plan’s tenure, then the higher of the basic sum assured after deducting the partial amount withdrawn or 105% of all paid premiums is disbursed immediately.
All future premiums are waived off as per the Premier Waiver Benefit clause of this plan. Any amount which is available in equity related funds is transferred to the Balancer II fund, as protection against volatile equity markets.
On expiry of the term plan, the fund is disbursed to the nominee as a one-time payout amount or in installments or as a combination as per the Settlement Option rule.