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Insurance Company
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PNB MetLife India Insurance Company Ltd
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Plan Name
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PNB MET Advantage Plus (SP)
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Plan Nature
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ULIP
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Plan Category
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Retirement
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UIN No.
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117L032V01
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About Plan
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Met Advantage Plus is a Unit-linked Pension Plan that works hard for you when you stop working. And like the name suggests, it comes with the maximum number of advantages. For one, it ensures that you lead a comfortable lifestyle. Always. More importantly, it helps you plan ahead, keeping in mind the escalating cost of living. Met Advantage Plus comes with six investment options, eight annuity options and much more benefits are available.
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Minimum Entry Age
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20 Years
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Maximum Entry Age
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55 Years
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Minimum Maturity Age
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45 Years
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Maximum Maturity Age
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65 Years
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Minimum Policy Term
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10 Years
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Minimum Premium
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Rs 10000
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Benefits
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| Particulars | Description |
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Death Benefits
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You could choose any one from the following two death benefit options. The benefit payable on death during the deferment period would depend on an option chosen by you.Option A with Life Cover: The benefit payable on death during the deferment period would be equal to 110% of the value of Units in the Unit Account.Option B with Out Life Cover: The benefit payable on death during the deferment period would be equal to 100% of the Value of Units in the Unit Account.
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Vesting Benefit
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Vesting benefit denotes the value of the units on the date of vesting. You have the following options to utilize for the vesting benefit.. Use 100% of the vesting benefit to buy annuities. Commute upto 1/3rd of the vesting benefit and utilize the balance to buy annuities.
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Tax Benefits
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| Section | Description |
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SEC 80 CCC
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Section 80 CCC allows to individual, tax deduction for amount paid during the financial year out of income chareable to tax, towards specified pension plan. Maximum deduction allowed is Rs. 100,000.
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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MetLife offers 'Met Advantage Plus' - a Unit-Linked Pension Plan that allows you to effectively and efficiently accumulate for your retirement needs. As the name suggests, it comes with many advantages. You can choose from eight annuity options, two life cover options and get tax benefits under Section 80 C and 10 (10 A).
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In case of death during the accumulation period, the death benefit payable is:Under Option A: A guaranteed amount of 110% of the Fund Value is payable to the nominee.Under Option B: 100% of the Fund Value is payable to the nominee.
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On the vesting date, i.e. at the end of the accumulation term,you can take one-third of your retirement kitty as a tax-free lump sum and utilize the balance to buy annuities. Or you can use the entire retirement kitty to buy annuities.
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You can choose from a wide variety of eight immediate annuity options at the time of retirement to match your pension requirement.
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Should you have extra cash at any point in time, you can top-up premiums in addition to your Single/Regular premium, subject to a minimum as stipulated by the company from time to time.
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Switching Between Unit-lined can be done at any time during the coverage term by submitting a written request to the company. On request the Fund value in the Unit Account can be switched to the new Unit-linked fund after deducting the switching charge as mentioned in the charge section. However the proportion of premium redirection would remain in the same as earlier.
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Accelerator
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Balancer
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Moderator
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Multiplier
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Preserver
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Protector
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Virtue Fund
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Particulars
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Range
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Accelerator
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Listed Equities
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60% - 95%
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Long Term Bonds
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0% - 60%
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Short Term Bonds
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0% - 35%
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Money Market Investments
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0% - 40%
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Government Securities
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0% - 40%
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Infrastructure Social Sector Securities
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0% - 40%
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Balancer
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Government and Government - approved securities
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0% - 60%
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Infrastructure sector securities
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0% - 60%
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Corporate bonds rated AA or above by an approved rating agency
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0% - 60%
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Money market instruments and other liquid assets
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0% - 40%
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Listed equities
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35% - 65%
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Long Term Bonds
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0% - 60%
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Short Term Bonds
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0% - 35%
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Moderator
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Listed Eqities
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10% - 30%
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Long Term Bonds
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0% - 60%
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Short Term Bonds
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0% - 35%
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Money Market Investment
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0% - 40%
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Government Securities
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10% - 60%
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Infrastructure Social Sector Securities
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0% - 60%
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Multiplier
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Listed Equities
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80% - 100%
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Money Market Instruments
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0% - 40%
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Preserver
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Government & Govt. Guaranteed Securities
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80% - 100%
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Money Market Investments
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0% - 40%
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Protector
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Government & Govt. Guaranteed Securities
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25% - 90%
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Long-Term Bonds
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10% - 60%
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Short-Term Bonds
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0% - 45%
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Money Market Investments
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0% - 40%
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Infrastructure Social Sector Securities
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0% - 60%
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Virtue Fund
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Listed Equities
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60% - 100%
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Money Market Instruments
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0% - 40%
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Accelerator Fund
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21-May-13
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25.95
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Balancer Fund
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21-May-13
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23.1271
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Moderator Fund
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21-May-13
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20.1328
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Multiplier Fund
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21-May-13
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26.6569
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Preserver Fund
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21-May-13
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17.6548
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Protector Fund
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21-May-13
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18.4272
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Virtue Fund
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21-May-13
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10.8552
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Accelerator
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Balancer
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Moderator
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Multiplier
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Preserver
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Protector
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Virtue Fund
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11-Aug-09
11:59
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MetLife enters into health insurance biz
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25-Jun-09
11:51
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MetLife is keen on raising stake in its Indian venture to up to 49%
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12-Mar-09
10:26
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20 new offices IN northern region : MetLife
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20-Jan-09
12:50
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Private insurers see market share rise to 62%
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14-Jan-09
10:20
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MetLife opens 12 new offices in Kerala
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18-Dec-08
12:40
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Insurance spawns a spurt in jobs
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16-Dec-08
11:23
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Metlife may re-launch traditional products
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