PNB MetLife Smart Platinum

The PNB MetLife Smart Platinum plan is a (ULIP) which offers a wide range of benefits and features to customers across investment and protection segments. The MetLife Smart Platinum policy acts as your personal investment avenue by providing you with 6 different fund options that are smartly designed to provide a solution for customers with varied risk appetite, such as debt-intensive instruments or equity-intensive instruments, or a hybrid of both. Customers can choose between various premium payment plans such as limited premium payment or regular premium payment, and also decide upon the frequency of payments as per their wishes in .


  • Partial withdrawals are allowed after the 5th policy year to empower you with liquidity as and when you need it, subject to a minimum withdrawal of Rs.5,000.
  • Option to increase or decrease the sum assured as per minimum and maximum base sum assured according to the policy wordings.
  • Limited premium plan customers can choose to change their premium payment from 5 years to 10 years at the same rate per annum.
  • Flexibility to switch between fund types any time you want to, subject to a maximum of 4 switches per year. You can choose either full switching or partial switching of funds.
  • Flexibility of premium redirection including top-up premiums.
  • Free look period of 15 days.
  • 6 distinct fund options to choose from.
  • Self-managed funds option is provided for annual premium payment mode if you are looking for total control over the investments, and want flexibility in switching between the funds as per your risk appetite and market conditions.
  • Auto balancing option is also available for managing your investments. You can choose between 2 fund options and the funds are ‘rebalanced’ when certain figures are reached according to your instructions.
  • Grace period of 30 days for paying the next premium dues.


  • Death benefit is payable in case of the insured’s demise during the policy tenure. Death benefit is payable as the higher of base fund value, or base sum assured (minus partial withdrawals), or 105% of overall limited/regular premiums paid.
  • The policy matures in the policy year when the insured attains age 99. Maturity benefit is payable as the total fund value in the unit account.
  • Policy can be discontinued at any point of time either through written intimation from your side or if you haven’t paid the due premiums even after the grace period has ended. You can either choose to revive the policy within the next two years by paying all charges or dues, or opt for complete withdrawal from the policy without any risk cover.
  • Tax benefits are available as per the Income Tax Act, 1961.


  • Multiple premium payment frequencies including monthly, quarterly, half-yearly and yearly payments.
  • Applicants should be within the age group of 7-70 years (last birthday) to avail MetLife Smart Platinum policy.
  • Flexible premium payment plans in both limited premium and regular premium varieties. 5 pay/10 pay/entire policy term pay options are available.
  • Minimum premium amount for annual premium payment mode is R.30,000. All other payment modes have a minimum requirement of Rs.60,000 as premium per year.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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