Investment Plans November 8, 2021

PNB Met Smart One is a unit-linked investment cum life insurance plan that provides you the benefit of wealth creation along with the life cover. PNB MetLife Insurance provides the following benefits under this unit-linked plan –

  • Six fund options
  • Death benefit
  • Maturity benefit
  • Two investment strategies]

Continue reading this page below to learn more about these and other benefits of PNB Met Smart One.

Investment

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PNB Met Smart One Benefits

The company shall pay the following benefits to you or your nominee as the case may be.

Death Benefit Payable During the Policy Term

Your nominee shall receive the highest of the following based upon your age at the time of death –

Death Before Attaining the Age of 60 Years

  • Single-premium Fund Value (as units on the Base Premium Account)
  • Base Sum Assured – Partial Withdrawals made 24 months before the date of death
  • 105% of the total paid single premium

Death After Attaining the Age of 60 Years

  • Single-premium Fund Value (as units on the Base Premium Account)
  • Base Sum Assured – Higher of partial Withdrawals made 24 months before the date of death or if it is made following the partial withdrawal clause as specified in the policy schedule
  • 105% of the total paid single premium

Maturity Payout At the End of the Policy Term

Upon survival till the end of the policy term, the insurer shall provide you the total fund value. You have the option to receive the maturity proceeds in installments. Under this option, you can receive the total fund value in installments for up to five years from the date of maturity. Or you can choose a combination of part lump sum and part installments where you will receive a percentage of the total fund value on the maturity date and the rest in installments. You’ll always have the option to receive the outstanding fund value by terminating the policy during the settlement period.

If you choose the settlement option, you should know that you’ll bear the risks involved in unit-linked funds. The number of withdrawals in a calendar year is subject to a maximum of twelve during the settlement period. The minimum withdrawal amount should be 5% of the fund value. No life cover is available to you during this period, and in case of death of the policyholder, the fund value shall be payable to the nominee at the prevailing rate and the policy terminates after that.

To choose this option, you need to inform the company 90 days before the date of maturity. Any investments during the settlement period are subject to policy administration and fund management charges, and no other charges will be deducted during this period.

PNB Met Smart One Investment Options

The insurance company provides you with the following investment strategies for fund management.

Self Managed Option

Here, you will get the following fund options for your investment –

Protector II – The insurer shall invest in high-quality fixed-income securities to generate regular income. This is a low-risk fund where investments are mainly made in money-market instruments, as well as government and other debt securities.

Preserver II – The fund aims to generate income at a consistent level with the preservation of capital. Here, investments are made in securities issued or guaranteed by Central and State governments.

Balancer II – To generate capital appreciation and income, this fund invests in a mix of equities and fixed-income securities.

Flexi Cap – The insurer invests in stocks of the market capitalization spectrum to generate a long-term capital appreciation.

Virtue II – Investments are made in diversified equities of companies promoting healthy lifestyles and enhancing the quality of life. And this will help generate a long-term capital appreciation.

Multiplier II – The insurer generates a long-term capital appreciation by investing in diversified equities selected from S&P® CNX Nifty Index.

Auto Rebalancing Option

If you feel you can’t manage the funds on your own, choose the auto rebalancing option. Here, funds are allocated in the Flexi Cap Fund and the Protector II Fund as per your chosen proportions. In case of any market movement to a trigger level, as specified by you, the investments in Flexi Cap Fund and Protector II Fund are automatically rebalanced to the ratio chosen by you. This will ensure your investment portfolio security, and you don’t even have to keep an eye on it. Under this investment strategy, the premium amount can be allocated between –

  • Flexi Cap Fund
  • Protector II Fund

The minimum allocation between these funds should be a minimum of 20% and equal to 100% combining the both. And this strategy works on trigger levels, so you need to choose four rebalancing options –

  • 10% of the Total Fund Value
  • 15% of the Total Fund Value
  • 20% of the Total Fund Value
  • 25% of the Total Fund Value

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