PNB Metlife Mera Wealth Plan

The PNB MetLife Mera Wealth Plan is a Unit-Linked Insurance Plan (ULIP) and savings plan designed to help you achieve your financial goals while providing life insurance coverage for your loved ones. It acts as a financial blueprint, offering flexibility to modify it to your specific needs and aspirations at different stages of life.

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What are the Features and Benefits of the PNB Metlife Mera Wealth Plan?

Here are the features and benefits of PNB Metlife Mera Wealth Plan:

  • Create an investment plan: Define your goals and choose a suitable investment path.

  • Good returns: Invest your savings in a variety of funds with the potential for good returns.

  • Investment options: Choose between Self-managed (actively manage your investments) or Systematic Transfer (automatic allocation based on your risk appetite).

  • Loyalty rewards: Stay invested and earn bonus units (Loyalty Additions) from the 6th year onwards.

  • Flexible payment terms: Choose a payment plan that suits your budget (Single Pay, 5 Pay, 10 Pay, or Regular Pay).

  • Plan options: Select from Premier or Online plans based on your needs and preferences.

  • Maturity benefit: Upon policy completion, receive the accumulated Fund Value as a lump sum or opt for structured payouts.

  • Death benefit: In the unfortunate event of the death of the life assured while the policy is in force and not in discontinued policy fund, the nominee will receive the highest of the following:

    • Fund value

    • The Basic Sum Assured minus all partial withdrawals made during the two-year period immediately preceding the date of death of the Insured

    • 105% of total premiums paid excluding partial withdrawals made during the two-year period immediately preceding the date of death of the Insured

  • Life cover: Protects your loved ones in case of your passing.

  • Systematic Transfer Option: Automates investment, eliminating market timing concerns.

  • Structured payouts: Receive your maturity benefit in installments over a chosen period.

  • Settlement Options: Lump sum or structured payouts over 1-5 years post-maturity. Insurance cover is maintained at 105% if the settlement period extends beyond maturity. Remaining fund value is payable in case of death during settlement period. During settlement, only fund management charges are applied.

People also read: PNB MetLife ULIP Plans

What are the Eligibility Criteria for PNB Metlife Mera Wealth Plan?

Criteria  Details 
Entry Age Minimum: 0 days
Maximum: 60 years 
Maturity Age Minimum: 18 years
Maximum: 80 years 
Premium Payment Term &
Policy Term
PPT: One Pay: 5, 10 years
Regular Pay: 10 to 30, 60 years
PT: 10 to 20 years
11 to 30 years 
Basic Sum Assured Single Pay: 1.25
Other Pay options: 10 or (Policy term*
 0.5), whichever is higher
Premium Payment Mode Annual, Half Yearly and Monthly (for 5 Pay, 10 Pay and Regular Pay)
Annualized
Premium (Rs.)

Premier Mode  Online Mode
Single Pay: ₹1,00,000 5 Pay:

  • For Web Aggregators: ₹12,000
  • For other than Web Aggregators: ₹12,000
  • Single Pay: ₹1,00,000
  • 5 Pay: ₹12,000
  • Regular Pay & 10 Pay: ₹12,000
Regular Pay & 10 Pay:
₹12,000

Invest more and Get more with ULIP Plan Invest more and Get more with ULIP Plan

How Does PNB Metlife Mera Wealth Plan Work?

Here’s how PNB Metlife Mera Wealth Plan works:

  • Plan Customization: You have the freedom to decide your plan option, premium amount, premium payment type, premium frequency, and policy term according to your financial capabilities and objectives.

  • Investment Options: Choose from a range of investment options tailored to suit your risk appetite and financial objectives. Whether you prefer conservative investments or seek higher growth potential, there's an option for everyone.

  • Maturity Benefit: Upon maturity of your policy, you have the flexibility to receive your maturity benefit in two ways:

    • Lump Sum: Receive the entire maturity amount at once to fulfill your financial aspirations or objectives.

    • Structured Payout: Opt for a structured payout through a settlement option, which allows you to receive regular payments over a defined period, ensuring a steady income stream to meet your specific needs and goals.

  • Death Benefit: In the unfortunate event of your demise during the policy term, your nominated beneficiary or nominee will receive the death benefit. This ensures financial protection and support for your loved ones during challenging times, helping them maintain their financial stability and security.

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Exclusions Under the PNB Metlife Mera Wealth Plan

The PNB MetLife Mera Wealth Plan excludes coverage for suicide within the first twelve months of the policy or its revival. This means that if the life assured dies by suicide during this period, the nominee or beneficiary will only receive the Fund Value as available on the date of death, instead of the full death benefit. Any fee, apart from the Fund Management Charges (FMC), that is collected after the date of death will be included back into the Fund Value as it stands on the day when the Insured's death is reported.

Additional Details of PNB Metlife Mera Wealth Plan

  • Switching: Under the self-managed option, you can switch partially or fully between available Unit-Linked fund options at any time during the policy term. Each switch must be a minimum of Rs 5,000, and all switches are free of charge.

  • Partial Withdrawals: Available after 5 policy anniversaries or when the Life Assured reaches age 18, whichever is later. Withdrawals are free and subject to a minimum limit of Rs. 5,000. The maximum partial withdrawal in a policy year is 25% of the total fund value at the start of the year, provided the minimum fund balance after withdrawal equals one annualized premium or 25% of the single premium.

  • Policy Loans and Top Ups: Not allowed under this policy.

    Invest in high growth ULIP Plans Invest in high growth ULIP Plans
  • Grace Period: You have a 30-day grace period (15 days for monthly mode) to pay all due premiums. If not paid within this period, the policy enters a Discontinued Policy status, but the full risk cover remains available during the grace period.

  • Free Look Period: You can cancel the policy within 15 days (30 days for distance marketing) of receiving it. You'll receive an amount equal to non-allocated premiums, charges levied through cancellation of units, and the fund value at cancellation, minus proportionate risk premium, medical examination expenses (if any), and stamp duty charges.

  • Premium Discontinuance and Revival: Applicable to Regular Pay, 5 Pay, and 10 Pay policies. A discontinued policy can be revived within 3 years by paying all due premiums.

  • Termination of Policy: The policy terminates under various conditions, including cancellation during the free look period, maturity benefit payment, surrender value payment, death benefit payment, expiration of the revival period, or if the fund value reaches 120% of the annualized premium plus applicable discontinuance charges.

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FAQs

  • What Loyalty Additions does PNB MetLife Mera Wealth Plan offer?

    You are eligible to receive Loyalty Additions annually starting from the end of the 6th policy year until maturity, for both premier and online options, provided your policy remains in force and all due premiums have been paid up to date.
  • How can I customize my wealth plan using PNB MetLife Mera Wealth Plan?

    With this plan, you have the flexibility to tailor your investment strategy by choosing from the following options:
    • Self-Managed Option: Take direct control of your investments. Switch among 11 funds, including four new funds: Mid Cap Fund, Premier Multi-Cap Fund, Virtue II, CREST (Thematic Fund), Small Cap Fund. Adjust premium redirection based on your evolving risk appetite and market conditions.

    • Systematic Transfer Option: Eliminate the need to time your investments in the market.

  • What are the premium payment options available with PNB MetLife Mera Wealth Plan?

    You can select the premium payment duration: Single Pay, 5 Pay, 10 Pay, or Regular Pay

    Choose between two plan options: Premier or Online

*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:- http://bit.ly/3J20bXZ

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PNB Metlife Mera Wealth Plan Reviews & Ratings

4.2 / 5 (Based on 26 Reviews)
(Showing Newest 10 reviews)
Nidhi
Adalaj, March 20, 2019
Best Insurance
Life insurance for a stress free life: I was planning for a pension plan for my father since long but wasn’t sure which insurer to go for. Finally, I landed on the portal of Policybazaar which actually helped me go through the returns, premiums, inclusions and exclusions of numerous insurers in a few minutes.
Ajay
Adimali, March 19, 2019
Covers individual up to 99 yr.
After lot of research I found PNB Metlife Ulip Plan for myself because of its unique feature. It covers the individual for up to 99 yr. of age. Different from other insurance plans.
Umang
Amritsar, September 26, 2016
Quality Product
First i thought the insurance is not very important like many other think but then my colleague introduce me a insurance policy which is not good for me but for my whole family. I buy it instantly without a second thought. I really am happy to have a pnb metlife ulip insurance policy.
Vishal
Dwarakanagar, July 26, 2016
Metlife ulip plan
Ulip insurance plan which i have is fabulous with great services provided by the company members. Great work you do pnb metlife and I'm fully satisfied with my insurance plan. The service of online renewals are very good which reduces the waiting time in the long queues.
Neetu
Madhuban, July 11, 2016
ULIP Plan
My ulip plan is nice with low investments. The service is good and claiming become easy. Policy coverage is high and premiums are less. Online portal services are easy to access and anyone can operate it easily.
Dixit
Almora, June 29, 2016
Good
The ulip insurance plan i have is good with some good benefits. Premium of the policy is low. Policy coverage is high. Service you provided is fantastic which always on time. The upgradations are mailed to my email address regularly.
Kunal
Bengaluru, April 14, 2016
High Returns In Low Premium
I purchase ulip policy plan from pnb metlife life insurance. The policy coverage is high around 97% and the claims are huge. The policy premiums are low ~45 K and the recovery returning amount is 49 L. Services are good and on time too. Executives are doing there jobs very well and with nice behaviour too. And the web services are also fantastic. Superb future investment which reduces taxes.
Akash
Delhi, April 14, 2016
Power Plan
I buy ULIP insurance policy plan with pnb metlife life insurance and the policy provides better service then others. The large team are working with the company for good performance and provides great outcomes with good care. The policy coverage is 93% and claims are high as compared to premium which is low. Good work done by executives and staff members.
Ishant
Mumbai, April 14, 2016
Marvelous Plan
I got ULIP policy plan with pnb metlife life insurance. The policy is good with hidden benefits like it save taxes and great future investment. Policy coverage is 89%. The Claims are about Rs.45 L which can be easily done with the help of executives. This is best services provided. I have to say guys, great work.
Zakhir
Yamunanagar, April 14, 2016
Excellent Policy
Recently find the great policy plan that is ulip insurance policy plan and buy one from pnb metlife Life Insurance. The policy coverage is high ~88% with very low premium. The service of your company is great with nice response provided by the executives and staff members. The return payback amount is around Rs 42 L at end of the policy.
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