PNB MetLife Smart Platinum Plan

PNB MetLife Smart Platinum Plan a Unit-Linked Investment Plan which also provides the benefits of a life insurance plan. The plan provides life coverage up to 99 years of age with short premium payment terms of 5 and 10 years. There are 6 different fund options and 2 investment strategies namely the Self-Managed Option and Auto Rebalancing option. You can also choose to switch within the fund options up to 4 times free of cost throughout the policy term. 

The plan also comes with a Systematic Transfer Option which protects your fund value from market volatility and risks by keeping a majority of your premiums in a safe fund named Protector II  and systematically transferring it to its returns-generating Flexi Cap Fund. Partial withdrawals are allowed under this plan after 5 years from the commencement of the policy to meet urgent financial needs. Alteration options in form of reduction and addition of base sum assured, redirection of premium, and change in premium payment term provide enough flexibility to the investors of PNB MetLife Smart Platinum Plan.

Best Features of PNB MetLife Smart Platinum Plan


PNB MetLife Smart Platinum Plan comes with the following features -

  • Whole Life Cover- The plan allows you to pay the premium for a limited period of time while enjoying the life cover up to 99 years of age.
  • Fund Options- The plan offers 6  fund options to offer a wide range of investment opportunities to you.
  • Systematic Transfer Option- This option provides the benefit of rupee-cost averaging by allocating the premium based from a safe fund to a market-linked fund depending upon the market volatility. 
  • Investment Strategies- The plan provides 2 different investment strategies namely Self- Managed Option and Auto Rebalancing option to match the investment style and risk profile of different investors.
  • Partial Withdrawals - After 5 policy years, you can make 1 partial withdrawal during a policy year subject to a minimum amount of INR 5,000 without incurring any extra cost.
  • Fund Switching-  The plan allows you to partially or fully switch between the fund options up to 4  times during a policy year without any charge. Further switches within the same policy year are charged with INR 250 per switch.
  • Base Sum Assured Alteration- The base sum assured can be increased or decreased based on your varying insurance needs. 
  • Premium Redirection Under this option, the premium can be redirected once in a policy year without any extra cost.

Benefits of PNB MetLife Smart Platinum Plan

The benefits offered by  PNB MetLife Smart Platinum Plan are as follows - 

  1. Death Benefit

In case of unfortunate death of the life assured, the highest of the following is paid to the nominee as the death benefit - 

  • Base fund value as available on the date of death 
  • Basic sum assured less partial withdrawals made in the preceding 2 years from the date of death
  • 105% of all the premiums paid till the date of death less partial withdrawals in the immediately preceding 2 years

        2. Maturity Benefit

The policy matures when the life assured attains 99 years of age. The total fund value is paid as the maturity benefit in a lump sum to the life assured.

PNB MetLife Smart Platinum Plan Eligibility

The plan comes with the following eligibility conditions -

Eligibility Criteria For PNB MetLife Smart Platinum Plan

Minimum Age at Entry


7 years

Maximum Age at Entry


70 years

Premium Payment Term (PPT)

  5 pay / 10 pay / entire term of the policy

Premium Payment Frequency

Annually , Semi-Annually, Monthly, and Quarterly

Minimum Annualised Premium Amount

For annual mode- INR 30,000 

For other modes-  INR 60,000

Lock-in Period

5 years

Sum Assured

As per the age of the assured and selected PPT 

PNB MetLife Smart Platinum Plan Fund Options

PNB MetLife Smart Platinum Plan provides the following 6 fund options to invest your hard-earned money:

Fund Name

Asset Class




         Equity                   Debt Securities         Money Market



Fund Composition

Risk Involved

Protector II




Low Risk

Preserver II




Very Low Risk

Balancer II




Medium Risk

Flexi Cap




Very High Risk

Virtue II




Very High Risk

Multiplier II




Very High Risk

The plan offers 2 investment strategy options to manage your wealth in a customized manner:

  1. Self-Managed Option

The self-managed option gives you full autonomy to actively manage your premiums in the above-mentioned 6 fund options. However, you can choose to opt for the Systematic Transfer Option under this strategy to reap the benefits of rupee-cost averaging while keeping your earnings secured against dynamic market conditions.

         2. Auto Rebalancing Option

Under this option, the company allocates your funds in the Flexi Cap Fund and the Protector II Fund in the proportions selected by you. In case of any disturbance in the market, the allocation of the Flexi Cap Fund & Protector II Fund is automatically rebalanced according to the ratio chosen by you at the inception of the policy. 

PNB MetLife Smart Platinum Plan Review

PNB MetLife Smart Platinum Plan is an investment plan which helps you grow your money while offering the benefits of a whole life cover. The plan provides enough flexibility to you by offering 2 investment strategy options and 6 distinctive fund options which can be switched for a maximum of 4 times without any charge during a policy year. Also, its systematic transfer option ensures that your funds are protected against any instability in the market.

The other notable features of the plan include premium redirection, partial withdrawals, sum assured alteration, and variable premium payment terms. It is a suitable plan for individuals looking for investment opportunities with multiple fund allocation avenues along with customisation benefits.

PNB MetLife Smart Platinum Plan FAQs

  • 1. Does the policy provide a free-look period?

    Yes, the policy offers a free-look period of 15 days (30 days if the policy is purchased online) from the date of its receipt in case you are dissatisfied with its terms and conditions.

  • 2. What is the revival period under the plan?

     The revival period for a discontinued policy is 3 years from the date of the first unpaid premium.

  • 3. How much is charged after the 4th free switch?

    For making additional switches after the 4th free switch, INR 250 is levied but in case of online switches, no charges are applicable. 

  • 4. What is the lock-in period under the plan?

    The plan features a lock-in period of 5 years starting from the commencement of the policy.

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