PNB Met Smart Child Insurance Plan

PNB MetSmart Child Insurance policy is a Unit Linked Insurance Plan that is used to take care of future costs for a child, be it rising educational fees or extracurricular activities, etc.

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Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr Tax Free*

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Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs
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6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold

Key Features

  • The policy paying term can be 10, 15 or 20 years

  • This a ULIP that is geared towards the benefit of your child

  • Loyalty Additions are offered on policies that are of 15 or 20 years

  • On completion of policy term, Fund value with applicable loyalty additions is paid.

  • On the premature Death of the parent, the child’s future is secured with a three-way Death benefit.

  • Six funds are available for investment with this policy.

  • There are no medical requirements.

  • Systematic Transfer Option is available.


  • The policy can be bought without the hassles of medicals and with minimum paperwork

  • Based on the customer’s propensity to take risks, there are 6 Unit Linked Funds for investment.

  • Systematic Transfer Option allows the customer to take advantage of market volatility.

  • Tax benefit is available as per the Income Tax Act under section 80 (C).

  • On maturation of the policy, the fund value plus the Loyalty Additions is paid as Maturity Benefit.

  • In case of the death of the policyholder, the beneficiary receives the following: (1) Higher of either Sum Assured or 105% of the Total Annualized Regular Premium paid. (2) Future payments will be ceased. Additionally, PNB Metlife will on a monthly basis credit an amount that is equivalent to one annualized regular premium into the policyholder’s fund.

Product Specification:

  Minimum Maximum
Entry Age (Last Birthday) for Life Insured 18 years 55 years
Entry Age (Last Birthday) for beneficiary 90 days 17 years
Maturity Age (Last Birthday)   75 years
Policy Term (PT) in years 10,15 and 20 years
Premium Paying Term (PPT) in years Equal to Policy Term – 10, 15 and 20 years
Premium Paying Frequency Annual, Semi-Annual, Quarterly, Monthly and Payroll Savings Program
Yearly Premium Rs. 18000 2 lakhs
Sum Assured  10 times the chosen Annual Premium

Details About Premium

Annual premium in Rupees

Age of the policyholder Sum Assured (Rs.) Annual Premium (Rs.) Policy Term (yrs)
18 180000 18000 10
18 180000 18000 15
30 1200000 120000 10
30 1400000 140000 20
55 500000 50000 20
Sum Assured is 10 X Annualized Premium

Policy Details

  • Grace Period: Thirty days is given to the policyholder to pay all due premiums. This timeframe is reduced to 15 days in case of premiums being paid via monthly mode. The policy will acquire a “Discontinued” status if payment is not made within the applicable timeframe.

  • Policy Termination or Surrender Benefit: If the policy is surrendered before the completion of 5 years, then the insurance cover ceases and the Fund Value net of any discontinuance charge, if at least 5 years’ premiums have not been paid, will be transferred to the Discontinued Policy Fund. This Fund will earn a minimum guaranteed interest rate equal to the savings account rate of State Bank of India. Proceeds from this will be payable only after the fifth policy anniversary. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee After completing five policy years, if it is surrendered, then there is no Surrender/Discontinuance Charges and the Fund Value is paid to the policyholder and the policy will terminate immediately.

  • Free Look Period: The policy may be cancelled if the customer so wishes, within 15 days of receiving the policy document. The amount refunded is equivalent to non-allocated Premiums plus charges levied through cancellation of units plus Fund Value at the cancellation date. This amount is subject to deduction of expenses towards stamp duty and proportionate risk premium.


  • Four switches in a policy years are allowed free of charge, after that Rs. 250 is charged per switch.

  • Two partial withdrawals are permitted in a single policy year, in which only the first is free of charge.

  • A discontinued policy may be revived within two years of discontinuance by paying all due premiums.

Additional features or riders

There are various charges that apply to this policy. They are as follows:

  • Premium Allocation Charge which is deducted from the Premium paid by the customer.

  • Policy Administration Charge, which is deducted by the cancellation of units on a monthly basis.

  • Fund Management Charge that is deducted by adjusting the NAV of the units daily.

  • Discontinuation Charge which is for discontinuing the plan before the end of the policy term.

  • Mortality Charge that is paid for the Life Coverage provided according to the Sum At Risk.


  • If suicide is committed by the person insured within a year of the commencement of policy or the date of the last reinstatement, only the Fund Value in the unit account as on the date of death would be refunded.

Documents Required

The policyholder has to fill up an ‘Application form ’with identity proof, bank account proof, address proof and a recent photograph. Select cases may require income proof.

You May like to Read: PNB Met Life Child Plans

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:-
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

Child Plan


Child Plan


Secure your Child’s
Career Goal
Start Investing ₹10,000/Month
& Get ₹1 Crore*
*Standard T & C Apply
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