Whole Life Insurance: ULIP Plan with Whole Life Cover - PNB MetLife

Key Benefits of PNB MetLife Whole Life Wealth Plan

  • 1

    Whole Life Cover

  • 2

    Uninterrupted savings for your goals

  • 3

    Personalised wealth plan

  • 4

    Get rewarded with fund boosters

Overview

A sound financial protection plan is the key to realize your life goals and help shape your family’s future the way you want to.

Presenting PNB MetLife Whole Life Wealth Plan - a whole life protection and savings oriented unit linked insurance plan - which 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.

With PNB MetLife Whole Life Wealth Plan

  1. Pay for a limited period, while life cover continues till the age of 99 years
  2. Protect your family  for whole of life 
  3. Safeguard your goals through ‘Care Benefit’
  4. Create a personalized wealth plan with your choice of portfolio strategies
  5. Get rewarded with fund boosters

Product Benefit

Choose your whole life cover option

Option 1, Wealth option : Whole life cover
Option 2, Wealth + Care option : Additional health protection through Care Benefit – Company pays all future premiums on diagnosis of any one of the 5 listed critical illnesses

Care Benefit : Under Option 2, Wealth + Care Option - on occurrence of any one of the 5 listed Critical Illnesses, all future premiums that would otherwise have been payable shall be waived for the remainder of the premium payment term and the company will continue to allocate units to your policy as if the premiums are being paid. Please refer sales brochure for details.

Death Benefit

We will pay the highest of the following amounts provided that the Policy is in In-Force Status on the date of the Life Assured’s death and the Policy shall immediately and automatically terminate:

  1. If death occurs before age 60:
    • The Fund Value;
    • The Sum Assured after deducting all Partial Withdrawals made during the 2 year period immediately preceding the Life Assured’s death;
    • 105% of the Installment Premiums received, excluding Goods and Services tax
  2. If death occurs after attaining age 60 yrs
    • The Fund Value;
    • The Sum Assured after deducting all Partial Withdrawals made after the Life Assured attained Age 58;
    • 105% of the Instalment Premiums received, excluding Goods and Services tax 
Please refer sales brochure for details.

Fund Boosters

Fund Boosters will be allocated to your policy at the end of 10th and 15th policy years provided your policy is in force and all due installment premiums till date have been paid.
Please refer sales brochure for details.

Maturity Benefit

On survival of the Life Assured till the end of the policy term, i.e. when the policyholder is 99 years of age, provided the policy is in force and all due premiums are paid, maturity benefit which is equal to total fund value as on the maturity date will be paid. Policy shall immediately and automatically terminate.
Please refer sales brochure for details.

Product specification

Minimum

Maximum

Age at entry (Years)

Wealth Option: 0 (30 days)^
Wealth + Care Option: 18

65

Maturity age(Years)

99

99

Policy term (Years)

99 – age at entry

99 – age at entry

Premium Paying Term (PPT) (Years)

For age < 45 : 10
For age >= 45 : 8

Wealth Option: 25 Wealth + Care Option: 25, Subject to age of life assured not exceeding 75 years at the end of PPT

Sum assured cover multiple^^

For age < 45 : 0.5 * (70 - age at entry), subject to a minimum of 10
For age >= 45 : 0.25 * (70 - age at entry), subject to a minimum of 7

Age   SA multiple
0 to10     40
11 to 20    35
21 to 30    30
31 to 40    25
41 to 50    20
51 to 55    15
56 to 60    10
61 to 65    7

^^Sum Assured = Sum assured multiple * Annualized premium
^In case the life assured is a minor, risk cover starts immediately at inception of the policy.

Premium Payment Modes available

Annual, Half Yearly and Monthly#

#Monthly mode is available only for Standing Instruction/direct debit options (including Electronic Clearing System (ECS), and Automated Clearing House (ACH)).

Minimum Annual Premium (Rs.) – For Wealth Option

Age/PPT

8 & 9 years

10 years

11 -25 years

0-3

NA

60,000

48,000

4-24

NA

50,000

48,000

25-44

NA

48,000

48,000

>=45

48,000

48,000

48,000

Minimum Annual Premium (Rs.) – For Wealth + Care Option

Age/PPT

8 & 9 years

10 years

11 -25 years

18-44

NA

55,000

48,000

>=45

55,000

55,000

48,000

Maximum Annual Premium for both Plan options will be as per company underwriting policy

All references to age are as on last birthday.
For more details on various charges under the product, please refer the sales brochure.

Terms & Conditions Download Brochure

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