PNB MetLife ULIP Plans

What are ULIPs?

ULIPs stands for Unit Linked Insurance Plans. They are a unique type of financial product that combines life insurance coverage with market-linked investments. In simpler terms, you get both protection and potential growth in a single plan.

When you pay your premium, a portion of it goes towards providing life insurance cover for your chosen sum assured. The remaining portion is invested in funds. Most ULIPs offer a variety of equity and debt fund options to choose from, allowing you to tailor your investment strategy based on your risk appetite and financial goals. The value of your ULIP units fluctuates based on the performance of the chosen funds. This means you have the potential to earn significant returns if the markets perform well.

Different Types of PNB Metlife ULIP Plans

PNB Metlife Life Insurance Company offers different types of ULIPs to its customers. Let us look at the different plans offered by the company and the features and benefits of each plan in detail.

1. PNB Metlife Mera Wealth Plan

   PNB MetLife Mera Wealth Plan is an individual unit-linked insurance plan (ULIP) that combines investment and insurance to help you achieve your financial goals.
   Here are its key features:

   • You can choose from a variety of investment funds to suit your risk appetite and investment goals.

   • You can invest in a lump sum or start a regular savings plan.

   • You can switch between funds to adjust your investment strategy over time.

   • ULIPs invest in the stock market, which has the potential for higher returns than traditional savings instruments like bank deposits.

   • PNB MetLife Mera Wealth Plan offers a variety of funds with different risk-return profiles.

   • You can also earn loyalty additions for staying invested in the plan for a long period. The best SIP balances consistency with growth potential.

   • You can choose the self-managed option to have full control over your investments.

   • You can choose the systematic transfer option to have your premiums automatically transferred into your chosen funds.

   • PNB MetLife Mera Wealth Plan offers loyalty additions, which are bonuses that are added to your fund value every year after the 6th policy year.

   • The rate of loyalty additions depends on your policy term and the fund you are invested in.

   • PNB MetLife Mera Wealth Plan provides life insurance cover in case of death during the policy term.

   • The death benefit is paid to your nominee, which can help them meet their financial obligations.

   Plan at Glance
   Minimum Entry Age: 0 (30 days)
   Maximum Entry Age:

   Policy Term	Max Entry Age
   10-11	54
   12-15	53
   16-18	52
   19	51
   20	50

   Premium Payment Term: Single Pay, 5 Pay, 10 Pay or Regular

   Policy Term: 10 to 20 years

   Annualised Premium: 1,00,000 (Single Pay)

   

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2. PNB Metlife Smart Platinum Plus Plan

   PNB MetLife Smart Platinum Plus is an individual, unit-linked, non-participating investment plan that combines life insurance protection with investment opportunities. It provides two plan options to cater to your specific needs:

   • Wealth Option

   • Wealth+Care Option

   Key features of the plan are:

   • Whole life cover: Provides financial security for your loved ones until your death.

   • Choice of 12 unit-linked funds: Invest your premiums in a variety of funds based on your risk appetite and investment goals.

   • Premium payment flexibility: Choose to pay premiums in a single payment, throughout the policy term, or for a limited period until age 80.

   • Potential tax benefits: Enjoy tax savings on premiums paid and benefits received under prevailing tax laws.

   • Additional health protection: Waiver of premium on the diagnosis of any one of the five listed critical illnesses, ensuring your premium payments continue even during difficult times.

   • Fund Booster: Receive a bonus at the end of the 10th policy year to amplify your fund value.

   • FMC Charges Reimbursement: Total fund management charges deducted in the first five years are added back to your fund value at the beginning of the sixth year.

   • Choice of Life Cover Duration: Select whole life cover until age 80 or 99.

   • Investment Flexibility: Switch between funds and manage your investment allocations as your needs and market conditions change.

   Plan at Glance
   Minimum Entry Age: 0 (30 days)
   Maximum Entry Age: 70 Years 

   Premium Payment Term: Single premium 

   Regular premium – 10 years 

   Limited pay - 5 years 

   Limited pay - 6 years

   Policy Term: 10 to 20 years  

   Annualised Premium: 48,000 (annually) 

   

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3. PNB MetLife Capital Guarantee Plus

   PNB MetLife Capital Guarantee Plus is a combined product offering from PNB MetLife that bundles two of their existing plans: PNB MetLife Guaranteed Future Plan and PNB MetLife Smart Platinum Plus. It aims to provide guaranteed returns, market-linked growth potential, and whole life insurance coverage.

   Key features of the plan are:

   • Guaranteed return of 100% of premiums paid upon maturity or death. This means you will never lose the money you invested, regardless of market fluctuations.

   • Market-linked returns through PNB MetLife Smart Platinum Plus component. This allows you to potentially earn additional returns based on the performance of the chosen investment funds.

   • Provides life insurance coverage throughout your life, offering financial protection for your family in case of your untimely demise.

   • Optional boosters are available to enhance your fund value, offering additional growth potential.

   • Three options for premium allocation:

   • 50:50 - Equal allocation between Guaranteed Future Plan and Smart Platinum Plus.

   • 2/3 - 1/3 - Two-thirds to Guaranteed Future Plan and one-third to Smart Platinum Plus.

   • Fixed amount - Allocate a specific amount (Rs. 7.5 lakhs) to each plan.

   • Premiums paid are eligible for tax deductions under Section 80C of the Income Tax Act (subject to applicable limits).

   People also read: ULIP Calculator

   Plan at Glance

   Premium Payment Term	PNB MetLife Guaranteed Future Plan (PPT/PT): 5/12; 7/15; 8/16; 9/18; 10/20; 11/22; 12/20; 12/24; 13/26 PNB MetLife Smart Platinum Plus (Limited Pay): 5, 7, 10
   Min Entry Age	(PPT/PT): Age; 5/12: 6 Years; 7/15: 3 Years; 8/16: 2 Years; 9/18: 30 days; 10/20: 30 days; 11/22: 30 days; 12/20: 30 days; 12/24: 30 days; 13/26: 30 days
   Max Entry Age	60 years
   Max Maturity Age	80 or 99 years
   Min Annualised Premium	Minimum premium for the combined solution is : Mode of Premium Option 1 Option 2 Option 3 Annual Rs. 96,000/ Rs. 1,46,000/- Rs. 7,50,000/- Semi-Annual (per half year) Rs.60,000/- Rs. 91,000/- Rs. 3,75,000/- Monthly (per month) Rs. 20,000/- Rs. 31,000/- -

How to Apply for ULIPs through PolicyBazaar?

• Go to the PolicyBazaar homepage and select "ULIPs" under the "Personal" tab.

• Click on "New Quotes" to compare and choose from top insurance providers.

• Enter your name, email address, city, country code, and mobile number. Click "Continue" to move forward.

• You'll be directed to the Life Insurance quotes page, where you can view quotes from more than 10 insurers. Select the plan based on your preferred payment schedule – choose between One-Time Payout and Monthly Payout Plans.

• Review and compare each life insurance quote. Click on the premium amount of your chosen plan to proceed with the purchase.

• A pop-up will appear on the screen, providing an overview of the selected plan, including details such as premium, plan features, exclusions, additional riders, etc. Click "Proceed" to continue.

• You will be redirected to the insurer's website. Complete the necessary details to finalise and purchase the chosen plan.

Conclusion

ULIPs can be a valuable tool for long-term financial planning, offering combined protection and growth potential. However, it's crucial to understand the risks involved and carefully consider your individual financial circumstances before investing in such a plan.