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    PNB MetLife Unit Linked Employee Benefit Plan

    Ensure employee satisfaction with our Employee Benefits Plan

    Non – Par, Fund Based Group Unit Linked Scheme | UIN: 117L084V03

    In this Policy, the Investment Risk in investment portfolio is borne by the Policyholder

    PNB MetLife Unit Linked Employee Benefit Plan is an employee insurance plan that offers comprehensive solutions for employers who wish to outsource administration and management of Leave Encashment and Gratuity liabilities in an effective and integrated manner. This group life insurance plan is administered similar to a cash accumulation scheme.

    PNB MetLife Unit Linked Employee Benefit Plan in a nutshell
    • Choice among five funds
    • 4 free switches in a year
    • Tax* Benefits

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    What you get

    PNB MetLife Unit Linked Employee Benefit Plan ensures:
    • Choice of five linked funds
    • Provides switching facility between the two funds with the first 4 switches between funds in a policy year being free of any charge.
    • Facility to pay the gratuity contribution (both past service liability and current service cost) in installments
    • Tax* Benefits as applicable

    What you don’t get

    Suicide Exclusions

    If the Life Assured’s death is due to suicide within twelve months from the date of commencement of risk or from the Date of Revival of the Policy as applicable, the Nominee or beneficiary of the Policyholder shall be entitled to 80% of the total Premium paid till the date of death under the Policy death or Surrender Value available as on the date of death, whichever is higher, provided the Policy is in Inforce status. We shall not be liable to pay any interest on this amount.

    Frequently Asked Questions

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    What are the different Benefits available under PNB MetLife Unit Linked Employee Benefit Plan?

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    • In case of retirement, resignation/termination, disablement etc. of Member:
      Benefits will be as calculated based on the Scheme Rules as on the date of exit from service and as confirmed by the Employer / Trustees subject to the extent of Fund Value.
    • In case of death of member under Leave encashment:
      Benefits are calculated as per the Scheme Rules as on the date of death and as confirmed by the Employer/Trustees subject to the extent of benefit funded by the scheme. The risk cover amount of Rs. 1,000 will be paid by the Company. In case the Fund Value is not enough to pay the stated benefits as per the Trust Deed and Rules, the shortfall will be borne entirely by the Group Policyholder.
    • In case of death of Member under Gratuity Scheme:
      The death benefit will be as calculated based on the Scheme Rules as on the date of exit from service and as confirmed by the Employer/Trustees subject to the extent of the Fund Value. The risk cover amount of Rs. 1,000 will be paid by the Company.

    What are the eligibility criteria for PNB MetLife Unit Linked Employee Benefit Plan?

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    Particulars Boundary Conditions

    Minimum age at entry

    18 years age last birthday

    Maximum age at entry

    74 years age last birthday

    Maximum Maturity Age

    As per Individual employer’s scheme

    Minimum / Maximum Contribution

    Rs 1 lakh/500 cr

    Inbuilt Life Cover Upon Death

    Rs 1,000

    Policy Term

    One year renewable

    How can I purchase PNB MetLife Unit Linked Employee Benefit Plan?

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    You can purchase this plan offline using any of the following methods:

    Disclaimer:

    The linked insurance products do not offer any liquidity during first five years of the contract. The policyholder will not be able to surrender/ withdraw the monies invested in linked insurance products completely or partially till the end of fifth Year. 

    • *Tax benefits are as per the Income Tax Act, 1961, & are subject to amendments made thereto from time to time. Please consult your tax consultant for more details

    Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. The premium paid in Unit Linked Insurance  policies  are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. PNB MetLife India Insurance Company Limited is only the name of the  Life Insurance  Company and PNB MetLife Unit Linked Employee Benefit Plan is only the name of the unit linked insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document issued by the insurance company. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns.

    AD-F/2020-21/00326

    Disclaimer

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    As your trusted life insurance partner, PNB MetLife is with you amidst the current COVID-19 outbreak. Our policies also cover COVID-19 Claims. In case of a Death Claim, kindly submit the signed Claim Intimation Letter mentioning the policy number, brief of the insured event and other claim documents on the email mentioned herewith. Please write-in to us at claimshelpdesk@pnbmetlife.com or indiaservice@pnbmetlife.co.in. You can also call us on 1800-425-6969 for death claims intimations and for any queries on Monday - Saturday between 10:00 am - 7:00 pm.

    PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance PlansTerm PlanProtection PlansLong Term Savings Plans , Retirement Plans & Child Education Plan.

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