PNB Met Dhan Samriddhi Insurance policy is a Unit Linked Insurance Plan that maximizes its customer’s wealth through low charges on the paid premium and by the consistent performance of the chosen linked funds. Policyholders are offered a range of choices to invest their savings along with insurance cover to maximize the returns on their investments.
Save Upto ₹46,800 in tax under Sec 80C
Inbuilt Life Cover
Tax Free Returns Unlike FD
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
|
Minimum |
Maximum |
Entry Age (Last Birthday) for Life Insured |
8 years |
65 years |
Maturity Age (Last Birthday) |
|
75 years |
Policy Term (PT) in years |
10 years |
|
Premium Paying Term (PPT) in years |
Single |
|
Premium Paying Frequency |
Single |
|
Yearly Premium |
Rs. 2 lakhs |
No limit, subject to underwriting conditions |
Sum Assured Multiple |
Option to choose 10 or 1.25 times the single premium |
Annual premium in Rupees
Age |
Premium (Rs.) |
Sum Assured (Rs.) |
Sum assured multiple value |
Policy Term (years) |
8 |
200000 |
250000 |
1.25 |
10 |
8 |
200000 |
2000000 |
10 |
10 |
20 |
450000 |
4500000 |
10 |
10 |
20 |
450000 |
562500 |
1.25 |
10 |
30 |
650000 |
812500 |
1.25 |
10 |
30 |
650000 |
6500000 |
10 |
10 |
35 |
990000 |
1237500 |
1.25 |
10 |
35 |
990000 |
9900000 |
10 |
10 |
Grace Period: As the premium is paid only once on the purchase of the policy there is no Grace Period for this Policy.
Policy Termination or Surrender Benefit:
The customer may terminate his or her investment before maturity at any time during the plan year. If the policy is surrendered within the first five years from the start of the plan, then the fund value is transferred to what is called as the Discontinued Fund. A minimum Guaranteed Interest rate of 4% p.a. or as declared by the authority from time to time, will be earned. The Fund Management Charge on the Discontinued Policy Fund shall not exceed 0.5% per year on the Discontinued Fund. Benefits on death and accidental death shall cease to continue. The fund value is payable on the first working day of the sixth policy year. If the policy is surrendered after completing five years from the start of the policy, the fund value is then payable immediately to the policyholder. This fund value is subject to deductions based on any partial withdrawals that may have been made.
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.
Additional Features or Riders
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.