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PNB Metlife ULIP Plans

The joint venture between Metlife International Holdings LLC and Punjab National Bank came into the financial market with the unit-linked insurance products. Both the companies analysed a customer’s need to offer the best type of ULIPs which can also fetch huge market returns. The different plans suit different needs of the consumers to allow solid growth to the investment.

Overview

The perfect combination of investment and insurance, PNB Metlife ULIP Plans provide various premium payment modes. A small amount goes to life insurance and the rest is in the investment which works in the capital markets. The scheduled saving is widely helpful for the future and the features such as multiple fund options, partial withdrawals, various premium payment terms and modes provide a wide choice of options which meet every consumer’s convenience.

Of course, every fund has a certain risk factor attached to it. Equity fund comes with the highest risk and the debt fund has a comparatively lower risk. A balanced fund is the combination of debt fund and equity fund and it is the instance of moderate risk. Similar to other ULIPs available in the market, the plans offered by PNB Metlife joint venture also impose different charges such as insurance cost, fund management charge and administration charges.

The lock-in period of 5 years is also present for saving money from the volatile market. Here, the insurance coverage is based on the paid premium. One can also change the fund options after checking the market performance. The policyholder generally offers free switches, but it can vary from plan to plan. Among the many ULIPs, you can choose the one which is ideal for your financial needs.

Types of PNB Metlife ULIP Plans

PNB Metlife Smart One

For making your future better, this unit-linked insurance product offers single payment throughout the entire policy term. It is a great way to generate wealth creation and safeguard your future when the income becomes restricted.

Features and Benefits

  • One-time payment option
  • Stop loss option is enabled during inflation
  • Auto-balancing choice keeps your investment safe in a volatile market
  • Partial withdrawal after the completion of 5 years of the plan
  • Death benefit is higher of Single Premium Fund Value or Base Sum Assured or 105% of entire single premium paid
  • Total fund value at maturity

Eligibility Details

Age entry 3 months - 65 years
Policy term 10 years - 20 years
Maturity age 18 years - 75 years
Premium amount Minimum Rs. 18,000 – maximum 5 lacs
Sum assured 5 x of single premium in the first policy year and 1.25 x of single premium for the rest of the policy term

PNB Metlife Dhan Samriddhi

  • Convenience of one-time payment
  • Loyalty Additions
  • PNB MetLife has delivered consistent returns on the funds
  • Tax benefits on investments and returns

Eligibility Details

Age entry for insured 8 years-65 years
Premium Minimum Rs. 2 Lakhs – Maximum No limit
Sum assured Option to choose 10 or 1.25 times the single premium (Only 1.25 times for above 40 years of age)
Policy term 10 years
Premium payment mode Single

PNB Metlife Smart Platinum

Another popular ULIP among the list of PNB Metlife ULIP Plans, this one offers the sound flexibility of creating an investment portfolio through several funds. As it provides coverage till the age of 99, you can invest even when you are in your 70s.

Features and Benefits

  • Choice of 6 unit-link funds for investment
  • Partial withdrawal after completing the first five years
  • Help manage investment risk with auto rebalancing option
  • Flexibility in premium payment choices
  • Auto-rebalance investment portfolio

Eligibility Details

Age entry 7 years-70 years
Premium payment term 5, 10 or whole policy term
Annualised premium Rs. 30,000 for yearly mode Rs. 60,00 for yearly mode
Premium payment mode Quarterly, monthly, semi-annual or annual

Why Choose PNB MetLife ULIP Plans?

The unit-linked insurance product is a blend of investment and insurance. A person can make monthly investments which work as an SIP and get life cover. PNB Metlife ULIP Plans offer good returns to its policyholders. Take a look at the fund performance for taking the right decision.

ReturnsAbsolute return (Last 1 Month) Absolute return (Last 6 months)CAGR return (Last 1 year)CAGR return (Last 2 years)CAGR return (Last 3 years)
Portfolio return -3.6%-5.3%-2.2%7.6%7.9%
Benchmark -4.1%6.0%2.2%8.7%9.3%

The amount of asset under management of Flexi Cap fund has been Rs. 648 cr and 95.3% has been the top equity securities. Money market has been holding 4.7% of the total portfolio.

ReturnsAbsolute return (Last 1 Month) Absolute return (Last 6 months)CAGR return (Last 1 year)CAGR return (Last 2 years)CAGR return (Last 3 years)
Portfolio return -4.4%-3.2%0.0%8.3%7.6%
Benchmark -5.0%-3.3%0.5%9.7%8.8%

The net asset value of this open fund has been Rs. 18.9931 and the amount of asset under management have been Rs. 638 cr. The percentage of top securities has been 94.9% and the money market has been 5.1%.

ReturnsAbsolute return (Last 1 Month) Absolute return (Last 6 months)CAGR return (Last 1 year)CAGR return (Last 2 years)CAGR return (Last 3 years)
Portfolio return -3.0%-3.5%0.1%11.0%9.6%

NAV of this open fund of PNB Metlife has been Rs. 22.9428 and AUM have been Rs. 154 cr. The percentage of top securities has been 81.9% and the hold over the money market has been 18.1%.

Documents Required

  • Bank account proof
  • Recent passport size photograph
  • Permanent address proof
  • Income proof
  • Duly filled from

FAQ’s on PNB Metlife ULIP Plans

What should I do if I want to change my premium?

You need to take help of PNB Metlife customer service team to change the premium or premium paying term. Generally, this is not allowed since the premium amount and mode once selected cannot be changed. However, if the plan provides an option for changing the premiums or the premium paying term, the insurance company will request you to provide a written request before it can act on your request.

Why you should opt for PNB Metlife Dhan Samriddhi?

If you wish to enjoy the best in life after your retirement, it is time to invest in PNB Metlife Dhan Samriddhi. Similarly, your retirement planning has to be best in class and should come with the greatest value for your hard-earned savings. MetLife Dhan Samriddhi Plan offers multiple choices for investing your savings, along with an insurance cover with the potential to earn loyalty additions on maturity of your plan to maximize the return on your investments.

How to pay a premium? What are the modes of payment available?

  • Prepaid cards
  • Net banking
  • Credit card
  • Drop boxes
  • Suvidhaa outlets
  • Pay via standing instructions
  • Payment gateways
  • Bank partners
  • PNB Metlife branch
  • NEFT

How can I check the policy status for PNB MetLife ULIP Plans?

Visit the official website of PNB MetLife and login to the customer portal. If you are a registered user, log in to your account using your client ID and Password and check the status of your policy instantly. You can get all the details about your policy at your fingertips.

What is the policy renewal process for PNB MetLife ULIP Plans?

Renewal of your policy can be done by paying the due premiums through the following modes:

  • Online mode: Login to your account using your Login ID and Password and select the plan that is due for renewal. Click Pay Renewal premium now and choose your payment mode and after making payment, your plan will be renewed instantly.

  • Offline mode: Visit the nearest branch and apply for the renewal process and pay the outstanding premiums to renew the policy.

What is the company’s process to settle a claim for PNB MetLife ULIP Plans?

The claim process can be initiated through email, fax or a letter. You can also contact the regional service team, claim department at HOD, advisor or PNB Metlife branch executives for the same.

What is the policy cancellation process for PNB MetLife ULIP Plans?

Other than submitting the duly filled surrender form, you have to attach the required documents at the branch. When the officials receive the necessary documents for the cancellation request, the policy will be terminated and refund processed.

How does PNB MetLife ULIP Plans work?

PNB Metlife ULIP plans are the combination of investment and life insurance. The investor pays a premium which is divided as the investment component and life insurance component. In case of death of the insured, the higher of sum assured or fund value is paid and on maturity, the total fund value is paid.

What is PNB MetLife ULIP Plans in India?

PNB Metlife ULIP Plans may come along with several charges, but they are the best way to be financially prepared for a future emergency, child’s educational cost or retirement. The asset locations in the debt and equity make sure that a certain amount of your money is always safe. There are various types of plans available like MetLife Smart Platinum, MetLife Smart One, Met Life Dhan Samriddhi, etc. make the right decision of buying after assessing your financial needs.

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