PNB MetLife Smart One insurance plan is a protection cum insurance plan that ensures that your hard earned money grows well and is also available to your loved ones in times of need.
This insurance plan is a single premium plan which offers various investment options for customers to make the most of this scheme. In today’s world of uncertainty and growing responsibilities, the Smart One insurance plan from MetLife is a very remarkable insurance scheme to protect your family against all unforeseen events.
Key features of MetLife Smart One Insurance Plan
MetLife Smart One Insurance Plan is loaded with remarkable features that make it a popular insurance product among customers.
- Sum Assured
Sum assured for MetLife Smart One insurance plan is 5 times the single premium paid during the first policy year plus 1.25 times the single premium paid for the remaining policy years
Premiums for the Smart One insurance plan from MetLife range from a minimum of Rs.18,000 to a maximum of Rs.5,00,000
- Premium-paying Term
Premium paying frequency is single. Premiums are paid one time.
MetLife Smart One Plan is a non-participating unit-linked endowment plan
- Policy validity
MetLife Smart One Plan is available for a period of 10-20 years. This term is subject to customer’s maximum maturity age
- Floater/individual policy
The MetLife Smart One insurance scheme is an individual policy
Main Benefits of MetLife Smart One Plan
The Smart One insurance scheme from MetLife offers great benefits to its customers.
- Death benefits
Death benefit for MetLife Smart One plan include single premium fund value or base sum assured or 10% of premiums paid is given to the beneficiary in case the insured person dies before the age of 60 years. If the death of the insured person occurs after the age of 60 then single premium fund value is paid or base sum assured less the partial withdrawals made in the last 24 months is paid or 105% of the premiums is paid.
- Maturity benefits
MetLife Smart One plan offers as maturity the total fund value as on the maturity date of the policy.
Enjoy fruitful returns on your investments made through the MetLife Smart One insurance plan. Avail any of the six unit linked funds offered by MetLife and earn investment returns.
- Cash liquidity
Enjoy easy liquidity with partial withdrawal of premiums paid after 5 years of availing the policy. This means you have enough cash to fall back on in times of urgent financial needs.
- Tax benefits on premiums paid
Tax benefits on the MetLife Smart One insurance plan are applicable under section 80C, 80D and 10(10D) of the Income Tax Act. This will also depend upon the tax laws prevalent at the time of premium payment and policy completion.
Minimum Entry Age – 3 months
Maximum Entry Age – 65 years
Minimum and Maximum Maturity Age – Between 18-75 years
GST of 18% is applicable on life insurance effective from the 1st of July, 2017