PNB MetLife Dhan Samriddhi offers you choices to invest your savings along with the insurance cover and you can also earn Loyalty Additions at maturity and thus maximising your returns on investments.
- You have to pay premium only once to benefit from the long term wealth building along with the Life Insurance cover.
- Risk-averse people and risk takers alike get to choose how the money needs to be invested. You can either choose from 6 Fund options or from the choice of stocks, bonds and money market funds.
- You, as an investor can decide how you want to manage your investments. You have the option to switch amongst investment options at any time for no charge, online. You can also manage asset allocation by managing the funds yourself.
- You can withdraw funds or surrender at any time after the first five years.
- You are entitled to tax benefits under Section 10(10) D of Income Tax Act, 1961, on maturity and to Section 80C of Income Tax Act, 1961, at the time of purchasing the policy.
- Premium allocation charges for the first year is 3.5%, no charges will be charged for 2 years and above.
- Policy administration charge is Rs.100.
- Switching charge: 4 switches are free post that, you will be charged Rs.250.
- Partial withdrawal charges: The first 12 partial withdrawals are free and post that, you will be charged Rs.250.
- The 6 Unit Linked Funds’ fund management charges are:
- Protector II- Low risk, 1.00 % p.a.
- Preserver II- Very low risk, 1.00% p.a.
- Balancer II- Medium risk, 1.15% p.a.
- Flexi Cap- Very high risk, 1.25% p.a.
- Virtue III^- Very high risk, 1.25% p.a.
- Multiplier II- Very high risk, 1.25% p.a.
- Discontinued Policy Fund- 0.50% p.a.
As an investor you are entitled to the following benefits:
- The age at entry is 8 years.
- The maximum entry age is 65 years.
- The policy term is for 10 years.
- The minimum single premium amount is Rs.2 lakhs.
- There is no limit to the maximum single premium.
- Sum assured is 10 or 1.25 times the single premium. 1.25 times is available for investors above 40 years of age.
The charges on the premium paid are reasonable and PNB MetLife has managed to deliver consistent returns on the funds. The amount can be accessible after 5 years of the policy years. You will also be entitled to the Tax benefits applicable to you.
GST of 18% is applicable on life insurance effective from the 1st of July, 2017