In this policy, the investment risk in investment portfolio is borne by the policyholder. PNB MetLife Smart Platinum Plus - a whole life protection and savings oriented unit linked insurance plan - offers life insurance cover to protect your family in case of your unfortunate demise and provides you with tailor-made solutions to achieve your goals, including an option where wealth creation doesn’t take a back seat even during critical illness.
Option 1: Wealth Option
This option offers benefit on death or maturity.
Option 2: Wealth + Care Option
This option offers in addition to the above benefits a Care Benefit on occurrence of Critical Illness. On occurrence of any one of the 5 listed Critical Illnesses, as a part of Care Benefit, all future due premiums shall be waived and an amount equivalent to premiums (chosen at inception) will be paid into the fund at each future premium due date following the date of diagnosis of Critical Illnesses.
Once opted the policyholder cannot change the option chosen during the Policy term.
Please refer the sales brochure carefully for the list of Critical Illness Covered. The details of these conditions are as mentioned in the section on ‘Definitions and exclusions for Care Benefit’
If the Life Assured’s death occurs while the Policy is in In-Force Status on the date of the Life Assured’s death and the Policy and all rights, benefits and interests under this Policy shall immediately and automatically terminate.
The death benefit payable will be higher of -
Where Sum Assured is higher of:
On survival of the Life Assured till the end of the policy term, provided the policy is in force and all due premiums are paid, we will pay the maturity benefit which is equal to total fund value as on the maturity date and all rights, benefits and interests under this Policy shall immediately and automatically terminate.
Maturity Options available under this plan are:
Option 1: Cover upto age 80 years
Under this option, the life cover will be available till age 80 years, i.e. policy term will be equal to 80 minus age at entry.
Option 2: Cover upto age 99 years
Under this option, the life cover will be available till age 99 years, i.e. policy term will be equal to 99 minus age at entry.
The total of Fund Management Charges (excluding any applicable goods and service taxes) deducted during the first 5 years of the policy net of taxes will be added back to the Fund Value at the end of the 6th policy year.
For premium payment term of 5 years, the total of Fund Management Charges (excluding any applicable goods and service taxes) deducted during the first 3 years of the policy net of taxes will be added back to the Fund Value at the end of the 6th policy year.
Return of FMC will be payable provided the policy is in force and all due installment premiums till end of 6th policy year have been paid in full.
This benefit will not be available with Single pay.
Fund Boosters will be allocated to your policy at the end of 10th policy year provided the policy is in force and all due installment premiums till date have been received in full.
The Fund Booster at the end of 10th year will be defined as a percentage of Average Daily Fund Values for each Fund during that same policy year at the end of 10th policy year. If policyholder has chosen multiple funds, Fund Booster will be allocated to each fund based on the fund value of that particular fund and Fund Booster percentage. Fund Booster will be made by allocation of extra units based on the NAV as on the due date of the credit of fund booster.
The allocation of Fund Booster units is guaranteed and shall not be revoked by the company under any circumstances.
End of Policy year/ Fund
Protector II, Bond Opportunities Fund, Liquid Fund, Balancer II & Balanced Opportunities Fund
Multiplier III, Premier Multi-cap Fund, Mid Cap Fund, CREST (thematic fund), Flexi Cap & Virtue II
0.75% of Fund Value
1% of Fund Value
*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.
PNB MetLife Smart Platinum Plus is an Individual, Unit linked, Non-participating, Life Insurance plan (UIN: 117L125V01). Please consult your advisor for more details. In this policy, the investment risk in investment portfolio is borne by the policyholder. Please read the Sales brochure carefully before concluding any sale. Goods and Services Tax (GST) shall be levied as per prevailing tax laws which are subject to change from time to time. AD-F/2020-21/00233
Age at entry (Years) 1
0 (30 days)2
Wealth + Care Option
Maturity age (Years)1
Maturity Option 1: 80; Maturity Option 2: 99
Policy Term (Years)
Maturity Option 1: 80 - age at entry; Maturity Option 2: 99 years - age at entry
Premium Paying Term (PPT) (Years)
Wealth + Care Option
Limited pay - 6
25 (subject to age of life assured not exceeding 75 at the end of PPT)
Both the above plan options offer all integer Premium Paying Term between minimum to maximum Premium Paying Terms mentioned in the table above (both inclusive).
Annualized Premium (Rs.)
As per board approved underwriting policy
Sum assured cover multiple
Sum Assured (Rs.)
For Single Premium: 1,87,500
Annualised Premium (or Single Premium) *Sum Assured cover multiple given above
Premium Payment Mode
Annual, Half Yearly and Monthly3
All references to age are as on age last birthday
2 For policies issued to minor lives the risk cover starts immediately at inception. In case the life assured is a minor, the policy will vest with the life assured when the life assured attains an age of 18 years.
3 Monthly mode is available for Standing instruction/direct debit options (including Electronic Clearing System (ECS), and Automated Clearing House (ACH))