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In Unit Linked Insurance Policies, the investment risk is borne by the policyholder. These insurance products do not offer any liquidity in the first 5 years, as they have a mandatory lock-in period of 5 years. During this period, the policyholder cannot fully or partially withdraw the invested amount or surrender the policy.
PNB MetLife Life Insurance GROW Plan
The PNB MetLife Life Insurance GROW Plan is aimed at assisting policyholders to accumulate wealth and, at the same time, secure their families financially. As a ULIP Plan, it enables people to invest in market-linked funds that have the potential of gaining capital in the long term and also have life cover throughout the policy period.
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PNB MetLife ULIP Plans
- PNB MetLife Life Insurance GROW Plan
Eligibility Criteria for the PNB MetLife Life Insurance GROW Plan
| Criteria | Details |
| Minimum Entry Age | 30 days |
| Maximum Entry Age | Up to 70 years |
| Maturity Age | Up to age 80 or age 99 |
| Premium Payment Options |
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| Premium Payment Modes |
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Features of PNB MetLife Life Insurance GROW Plan
Here are the key features of the plan:
- Market-linked investment options: The policyholders will be allowed to invest premiums in a variety of equity, debt, and balanced funds.
- Flexible portfolio strategies: There are self-managed strategies, systematic transfer strategy, and life-stage strategy, whereby it is necessary to match investments to financial objectives.
- Fund boosters: Fund boosters may be given in certain policy years to increase the fund's value.
- Return of fund management charges: Some charges for fund management paid during the initial policy years can be reimbursed later to the value of the policy fund.
- Several fund options: Investors can choose from multi-cap, mid-cap, balanced, and thematic funds, depending on their risk tolerance.
PNB MetLife Investment Plans provide flexible premium options and structured benefits to support different financial goals
Benefits of the PNB MetLife Life Insurance GROW Plan
Below are the benefits offered by the PNB MetLife Life Insurance GROW Plan:
- Maturity Benefit: If the life assured survives the policy term and the policy remains active, the maturity benefit will be equal to the total fund value accumulated in the policy on the maturity date. The policy terminates after the payment of the maturity benefit.
- Death Benefit: In the event that the life assured dies during the period that the policy is in service, the nominee will get the death benefit. The price to be paid will be the higher of the two between:
- The value of a fund on the date of death.
- The sum assured following some withdrawals.
- 105% of total premiums paid
This ensures financial protection for the policyholder’s family.
- Care Benefit (Optional): Under the wealth plus care option, if the life assured is diagnosed with certain critical illnesses, all future premiums may be waived while the insurer continues to allocate units to the policy fund.
- Tax Benefits: The premiums charged on this plan are also considered tax-deductible.
- Current Limit: You can deduct an amount of up to 1.5 lakh annually from your taxable income.
- Condition: In policies that have been issued since April 1, 2012, the deduction is normally limited to 10% of the Sum Assured.
Riders Under the PNB MetLife Life Insurance GROW Plan
- PNB MetLife Linked Accidental Death Benefit Rider: Provides additional financial support to the nominee in case of accidental death.
Policy Details of the PNB MetLife Life Insurance GROW Plan
The following are the policy details of the PNB MetLife Life Insurance GROW Plan:
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Grace Period
The grace period allows policyholders extra time to pay premiums without losing coverage.
- Monthly Mode: 15 days
- Other Modes: 30 days
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Revival
If the policy lapses due to non-payment of premiums, it may be revived within the specified revival period by paying outstanding premiums and applicable charges.
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Free Look Period
Policyholders can cancel the policy within the free look period if they disagree with the policy terms and conditions.
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Surrender
Unless it is a risk-free policy, unit-linked policies tend to have a lock-in period. After the completion of the lock-in period, the given policy terms provide surrender benefits.
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Fund Switching
Depending on the market conditions or varying financial objectives, policyholders are able to change the available investment funds.
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Loan
Depending on the policy stipulation and the amount of funds, loan facilities could be availed of. The best Investment plans focus on providing reliable returns along with tax benefits and financial protection.
Latest ULIP NAVs
| Fund Name | NAV  |
AUM |
5 Yr Returns |
10 Yr Returns | |
|---|---|---|---|---|---|
| Bandhan Life Debt Fund | ₹40.43 | ₹91 Cr | 5.29% | 6.17% | |
| Bandhan Life Secure Fund | ₹29.11 | ₹48 Cr | 5.32% | 4.49% | |
| Bandhan Life Blue Chip Equity Fund | ₹30.58 | ₹189 Cr | 7.9% | 11.05% | |
| Bandhan Life Stable Fund | ₹32.84 | ₹14 Cr | 5.58% | 8.44% | |
| Bandhan Life Accelerator Fund | ₹47.94 | ₹195 Cr | 9.63% | 12.65% | |
| Bandhan Life Opportunity Fund | ₹40.61 | ₹238 Cr | 13.5% | - | |
| Aegon Balanced | ₹44.69 | ₹12 Cr | 5.91% | 8.6% | |
| Aegon Enhanced Equity | ₹69.04 | ₹104 Cr | 9.77% | 12.31% | |
| Aegon Pension Balanced | ₹51.04 | ₹2 Cr | 6.79% | 9.12% | |
| Aegon Pension Debt | ₹32.13 | ₹4 Cr | 5.12% | 5.97% | |
| Aegon Pension Enhanced Equity | ₹112.62 | ₹15 Cr | 10.21% | 12.6% | |
| Aegon Pension Index | ₹85.61 | ₹5 Cr | 5.89% | 10.7% | |
| Aegon Pension Secure | ₹28.96 | ₹1 Cr | 4.73% | 4.91% | |
| Aegon Life Group Equity Fund | ₹59.57 | ₹11 Cr | 10.78% | - | |
| Bandhan Life Flexi Cap Fund | ₹11.21 | ₹98 Cr | - | - |
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Exclusions Under the PNB MetLife Life Insurance GROW Plan
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Suicidal Cover
In case the life assured commits suicide within 12 months after the policy commencement or revival date, the benefits that will be paid will be restricted according to the terms of the policy.
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Total Permanent Disability (TPD)
The base plan does not include total permanent disability benefits unless it is covered under some additional riders.
FAQs
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Is it possible to opt for alternate funds within the PNB MetLife Life Insurance Grow Plan?
Yes, the plan enables the policyholders to choose between funds that are available based on their investment plan, risk-taking, or market performance. -
What is the maturity age of the PNB MetLife Life Insurance GROW Plan?
The plan has maturity options where life cover can be continued until age 80 or age 99, depending on the option taken at the time of policy issue. -
Is the PNB MetLife Life Insurance Grow Plan critical illness-supported?
Indeed, under the wealth plus care plan, there is a care benefit in which future premiums can be waived should the life assured be diagnosed with specific critical illnesses.
Insurers Offering ULIPs
Disclaimer: Policybazaar Insurance Brokers Private Limited does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar Insurance Brokers Private Limited does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^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.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ