IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER.

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

Smart Platinum Plus

An Individual, Unit linked, Non-participating, Life Insurance Plan
UIN: 117L125V03

Get the expert growth plan

that matches your dreams!
#HarDreamKaroHaasil

RETURN OF FUND
MANAGEMENT CHARGES
AT THE END OF
6TH POLICY YEAR #
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 Smart Platinum Plus- 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
and which can be bought online from the comfort of your home.

WITH PNB METLIFE SMART PLATINUM PLUS

• Pay for a limited Period & while life cover continues till maturity
• Boost your Fund value with:
o Return of Fund Management Charge at the end of 6th policy year#
o Fund Booster to enhance Fund Value at the end of 10th policy year#
• Protect your family for whole of life
• Safeguard your goals through ‘Care Benefit’
• Create a personalized wealth plan with your choice of portfolio strategies
• Choice amongst various funds that suit your risk profile
• Select from the recently launched Bharat Manufacturing Fund (Since August 2024), which
invests in the Manufacturing sector with significant growth potential driven by a potent
combination of government initiatives and expanding domestic market
• Choose funds rated 5 Star by renowned rating agency Morningstar - Virtue II, Balanced
Opportunities fund and Midcap
#Provided the policy is in-force and all due premiums have been paid, for 5 pay FMC deducted for first 3 policy years
net of taxes and for all other premium payment terms FMC deducted for the first 5 years net of taxes will be added to the
fund value.

KEY BENEFITS
Choose your Plan option:

Option 1
Whole life cover
Wealth Option
OR

Option 2 Additional health protection through Care Benefit -

Company pays all future Premiums on diagnosis of any
Wealth + Care Option one of the 5 listed critical illnesses
The benefits will vary based on the Option chosen by the Policyholder
• Pay as you like
o Choose to pay premiums once under Single Pay Option or throughout the policy term
or for a limited period of upto age 80
o Choose to be covered till the age of 80 years or 99 years
• Choose your Sum Assured Multiple
• Return of Fund Management Charges at the end of 6th policy year

o Total FMC charges deducted till the end of 5th policy year# will be added back to the
fund value at the end of 6th policy year.
2
• Create your own wealth plan through a choice of portfolio strategies:
o Self- managed strategy: Choose amongst diverse funds
o Systematic transfer strategy: Transfer your premium to equities in regular monthly
installments
o Life-stage strategy: Personalize your portfolio to create an ideal balance between
equity and debt, based on your age
• Enhance your fund value
o Get rewarded with fund booster at end of year 10th Policy Year
• You may be eligible to avail Tax benefits on premiums paid and benefits received, as per
prevailing tax laws
#
Provided the policy is in-force and all due premiums have been paid, for 5 pay FMC deducted for first 3 policy years net of taxes
and for all other premium payment terms FMC deducted for the first 5 years net of taxes will be added to the fund value.

PLAN AT A GLANCE

Wealth Option Wealth + Care Option

Minimum 0 (30 days) 18

Age at entry
(Years)
Maximum 70 65

Two Maturity Options to choose from:

Maturity age Years) Maturity Option 1: 80
Maturity Option 2: 99
Maturity Option 1: 80 - age at entry
Policy Term (Years)
Maturity Option 2: 99 - age at entry
Single Premium
Minimum Regular Premium: 10 Limited Premium: 6
Premium Limited Premium: 5
Paying Term
(PPT) (Years) Single Premium
25 (subject to age of life assured
Maximum Regular Premium: 99
not exceeding 75 at the end of PPT)
Limited Premium: 80
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).
Premium Annualized
Payment Mode Premium
Single 1,50,000
Annualized
Minimum
Premium (Rs.) Annual 48,000
Semi-annual 60,000
Monthly 1,20,000
Maximum As per board approved underwriting policy

Sum assured 1.25 (Single Premium)

cover multiple Minimum
7 (Other than Single Premium)

3
 Wealth Option Wealth + Care Option
10 (Single Premium)
For Other than Single Premium
Age Band Maximum Sum Assured
cover multiple
0 to 10 40
11 to 20 35
21 to 30 30
Sum assured
Maximum 31 to 40 25
cover multiple
41 to 50 20
51 to 55 15
56 to 60 10
61 to 65 7
For Single Premium: 1,87,500
Minimum
Sum Assured For Regular/Limited Premium: 3,36000
(Rs.) Annualised Premium (or Single Premium)
Maximum
*Sum Assured cover multiple given above
Premium Payment Mode Annual, Half-Yearly and Monthly

All references to age are as on age last birthday.

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

HOW DOES YOUR PLAN WORK?

ILLUSTRATION 1: Ankur is 40 years old. He wants an insurance plan that will not only give him
long-term protection but growth as well. He chooses PNB MetLife Smart Platinum Plus (Wealth
Option) and opts to get covered till age 99 years.

Step 1 Step 2 Step 3 Step 4

Option1 : Wealth Option Maturity Option 1 : 99 yrs Premium Payment Term: 10 years Annualized Premium : Rs 100,000
Sum Assured : Rs 15,00,000

Whole life Cover with Sum Assured: Rs. 15 Lakhs

Fund value at maturity (Rs.)
Return of FMC3 at Fund Booster2
the end of the 6th at the 10th Year
year Rs. 18,748 Rs. 13,019 @4% 1 @8%1
34,80,421 2,84,25,519
Annualized premium of Rs. 1,00,000 for 10 years

Age 40 46 50 60 99
Year 0 6 10 20

• Some benefits are guaranteed, and some benefits are variable (Non-guaranteed) with returns based on the future performance of the opted funds and fulfilment of other
applicable policy conditions.
• Maturity benefit is inclusive of fund boosters which are defined as a percentage of Average Daily Fund Values for each Fund during that same Policy Year at the end of
10th and 15th policy years.
• 1
The returns indicated at 4% and 8% are illustrative and not guaranteed. These do not indicate the upper or lower limits of returns under the policy. This illustration is
considering investment in ‘Premier Multi-cap’ fund and prevailing Goods & Services Tax. Tax laws are subject to amendments from time to time.

1
The returns at 4% and 8% are illustrative are not guaranteed. These do not indicate the upper or lower limits of returns under the policy. The illustration is considering
investment in ‘Premier Multi-Cap’ Fund and prevailing Goods & Service Tax. 2Fund Boosters are defined as a percentage of Average Daily Fund Values for each Fund Values
for each Fund during that same Policy Year at the end of the 10th policy year. 3Provided the policy is in-force and all due premiums have been paid, for 5 Pay – FMC deducted
for first 3 policy years net of taxes and for all other premium payment terms – FMC deducted for first 5 years net of taxes will be added to the Fund Value. In case of death
during the policy term, higher of Fund Value or Sum Assured is payable. Please refer complete sales brochure before concluding the sale

4
ILLUSTRATION 2: Seema is 40 years old. She wants an insurance plan that would help her
accumulate wealth for financial needs even if she is critically ill. She chooses PNB MetLife Smart
Platinum Plus- Option 2 (Wealth + Care Option) and opts to get covered till age 80 years.

Step 1 Step 2 Step 3 Step 4

Option2 : Wealth + Maturity Option 2 : 80 yrs Premium Payment Term : 15 years Annualized Premium : Rs 100,000
Care Option Sum Assured : Rs 15,00,000

Life cover throughout Policy Term with Sum Assured Rs. 15 Lakhs
Seema is diagnosed with Cancer Fund Booster2 Fund value Post partial withdrawal (Rs.)
in the 8th Policy year at the 10th Year @4%1 @8%1
Rs. 12,828 Fund value at maturity (Rs.)
12,72,046 16,63,923
Return of FMC3 at @4%1 @8%1
the end of the 6th Cancer Seema withdraws 20% fund values
year Rs. 18,470 diagnosis 26,29,543 93,67,282
at Year 13 for her treatment

Care Benefit: All future benefits are paid by the

company on behalf of Seema Life cover continues

Age 40 46 48 50 53 55 80
Year 0 6 8 10 13 15

The returns at 4% and 8% are illustrative are not guaranteed. These do not indicate the upper or lower limits of returns under the policy.
1

The illustration is considering investment in ‘Premier Multi-Cap’ Fund and prevailing Goods & Service Tax.
2
Fund Boosters are defined as a percentage of Average Daily Fund Values for each Fund Values for each Fund during that same Policy Year at the end of 10th policy
year. 3Provided the policy is in-force and all due premiums have been paid, for 5 Pay – FMC deducted for first 3 policy years net of taxes and for all other premium
payment terms – FMC deducted for first 5 years net of taxes will be added to the Fund Value. In case of death during the policy term, higher of Fund Value or Sum
Assured is payable. Please refer complete sales brochure before concluding the sale.

PLAN OPTIONS
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.

MATURITY OPTIONS (APPLICABLE TO BOTH PLAN OPTIONS)

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.
5
CARE BENEFIT
This Benefit is not available under Option 1: Wealth Option.

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, i.e., an amount equivalent to premium (chosen
at inception) will be paid into the fund at each future premium due date following the date of
diagnosis of Critical Illnesses. This benefit is applicable, provided that:
• The Policy is in In-Force Status and all due Installment Premiums have been received
in full on the date of the Life Assured’s diagnosis;
• The Life Assured is not first diagnosed or showed signs or symptoms of the Critical
Illness within the Waiting Period of 90 days from the later of the Date of Commence-
ment of Risk or the date of the last Revival of the Policy;
All other benefits will remain same as ‘Wealth Option’.
If the Life Assured is first diagnosed or showed signs or symptoms of the Critical Illness
within the Waiting Period specified above, no benefit shall be payable, i.e. future due
premiums shall not be waived off and Care Benefit shall immediately and automatically
terminate in respect of the Life Assured and no future morbidity charges would be deducted
from the fund.

CRITICAL ILLNESSES COVERED UNDER CARE BENEFIT

1. Cancer of Specified Severity
2. First Heart Attack – of specified severity
3. Open Chest CABG
4. Kidney Failure Requiring Regular Dialysis
5. Stroke resulting in Permanent Symptoms
The details of these conditions are as mentioned in the section on ‘Definitions and exclusions
for Care Benefit.

MATURITY BENEFIT
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.

RETURN OF FUND MANAGEMENT CHARGE AT THE END OF 6TH YEAR

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

6
premiums till end of 6th policy year have been paid in full.
This benefit will not be available with Single pay.

FUND BOOSTERS
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 offund
booster.
The allocation of Fund Booster units is guaranteed and shall not be revoked by the company
under any circumstances. This feature will not be available with Single pay.

Protector II, Multiplier III, Premier

Bond Opportunities Fund, Multi-cap Fund, Mid Cap
End of Policy Liquid Fund, Fund, CREST (thematic fund),
year/ Fund Balancer II & Flexi Cap, Virtue II,
Balanced Opportunities Small Cap Fund & Bharat
Fund Manufacturing Fund

10 0.75% of Fund Value 1% of Fund Value

DEATH 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 -
• The Fund Value on the date of death;
• The Sum Assured after deducting all Partial Withdrawals made during the 2year
period immediately preceding the Life Assured’s death;
• 105% of the total Premiums paid excluding partial withdrawals made during two-year
period immediately preceding the date of death of the Life Assured
Total premiums paid" means total of all the premiums received under the base product,
including top-ups premium paid, if any.
Where Sum Assured is higher of:
• Basic Sum Assured
• Sum Assured Cover Multiple X Single/Annualized Premium
Basic Sum Assured (BSA) is defined as:
• For Single Pay: 1.25 times Single Premium
• For Regular/ Limited Pay: 7 times Annualized Premium
And Sum Assured Cover Multiple is defined as:

7
 Minimum Maximum
Premium Payment Sum Assured
Type Cover multiple
Maximum Sum Assured
Age Band
cover multiple
0 to 10 40
11 to 20 35
Limited Pay 21 to 30 30
& 7 31 to 40 25
Regular Pay 41 to 50 20
51 to 55 15
56 to 60 10
61 to 65 7
Single Pay 1.25 10

Any Charges recovered subsequent to the date of the Life Assured’s death shall also be paid
back to the nominee. On the death of the life assured while the monies are in discontinued
policy fund, the death benefit will be the discontinued policy fund value. Thereafter this policy
shall terminate and all rights, benefits and interests under this policy shall be extinguished.
In case the life assured is a minor, risk cover will start immediately at inception of the policy.

FUND MANAGEMENT STRATEGIES

You can choose amongst the following portfolio strategies:

SELF-MANAGED STRATEGY
With this strategy, you can allocate your premiums directly amongst the available funds in
proportions of your choice.
You have the option of switching amongst the funds as mentioned below and may choose
premium redirection option for your future premiums depending up on your changing risk
appetite and market conditions. The details of the various funds are given in the table below:

Investment Asset Asset

S.No. Fund Name Allocation Risk
Objectives Category Range (%)

To provide long term

capital appreciation Equities 60 – 100
from an actively
Mid Cap Fund managed portfolio of Debt 0 Very
1
(ULIF02501/01/18MIDCAPFUND117) diversified stocks High Risk
from the midcap Money
segment of the 0 – 40
market
market

To generate wealth
Equities 60 – 100
by investing in
companies across
Premier Multi-cap Fund Debt 0 Very
2 market capitalisation
(ULIF02101/01/18MULTICAPFN117) High Risk
spectrum with a Money
blend of largecap and 0 – 40
market
mid-cap companies
8
 Asset
Investment Asset
S.No. Fund Name Allocation Risk
Objectives Category
Range (%)
To generate long term Equities 60 – 100
capital appreciation by
investing in diversified
Virtue II Debt 0 Very
3 equities of companies
(ULIF01215/12/09VIRTUE2FND117) High Risk
promoting healthy life
style and enhancing Money
quality of life 0 – 40
market

To generate wealth by
investing in companies
which will benefit from Equities 60 – 100
the present envolving
economic environment
such as rising
CREST (Thematic Fund) consumption (C), Very
4. (ULIF02201/01/18CRESTTHEMF117) strengthening Debt 0 High Risk
government reforms
(RE), increasing
contribution of
services (S) in the Money
0 – 40
economy and new market
technologies (T).

To generate long-term
Equities 60 – 100
capital appreciation
from an actively
Flexi Cap managed portfolio of Debt 0 Very
5.
(ULIF01315/12/09FLEXICAPFN117) diversified stocks High Risk
across the market Money
capitalization market 0 – 40
spectrum instruments

To generate wealth Equities 60 – 100

over the medium to
Small Cap Fund long-term by Debt 0 Very
6.
(ULIF02819/02/24SMALLCAPFN117) investing in securities High Risk
Money
of Small Cap market 0 – 40
companies instruments
To generate Long Equities 60 – 100
term capital
appreciation by
Multiplier III Debt 0
7. investing in High Risk
(ULIF01809/10/15MULTIPLIE3117)
diversified equities Money
(predominantly market 0 – 40
large caps) instruments

To generate capital Equities 40 – 75

appreciation and
current income, Debt 25 – 60
Balanced Opportunities Fund Medium
8. through a judicious
(ULIF02301/01/18BALANCEOPP117) Money Risk
mix of investments in
equities and fixed market 0 – 35
income securities. instruments

9
 Asset
Investment Asset
S.No. Fund Name Allocation Risk
Objectives Category
Range (%)
To generate capital Government
appreciation and and other
0 – 60
current income, debt
Balancer II securities Medium
9. through a judicious
(ULIF01015/12/09BALANCER2F117) Risk
mix of investments in Equities 0 – 60
equities and fixed Money market
income securities. 0 – 40
instruments
Government
To earn regular and other debt 60 - 100
Protector II income by investing securities
10. in high quality fixed Low Risk
(ULIF00915/12/09PROTECTOR2117) Equities 0
income securities Money market
instruments 0 - 40
To provide higher
accrual along with safety Equities 0
arising from high
Bond Opportunities Fund allocation to corporate Debt 80 – 100
11. Low Risk
(ULIF02401/01/18BONDOPPORT117) bonds. The fund will
invest up to 100% of the
Money market
corpus in debt and 0 – 20
instruments
money market securities
To generate stable
returns by investing in a Money
Liquid Fund
12. very short term debt market 100 Low Risk
(ULIF01909/10/15LIQUIDFUND117)
and money market instruments
instruments
To generate wealth Equities 60 – 100
over the medium to
Bharat Manufacturing Fund long-term by investing
13. Debt 0 Very High
(ULIF02901/08/24BHARATFUND117) predominantly in
companies engaged in Risk
Money
manufacturing theme. 0 – 40
market
SYSTEMATIC TRANSFER STRATEGY
You may utilise this strategy to ensure a gradual exposure to equity from debt in a phased
manner through equal instalments over the course of 12 months. This strategy allows you to
systematically allocate your premiums to equities while eliminating the need to time your
investments into the equity market.
• This option is available only to annual mode policies.
• On selection of Systematic transfer strategy at inception / policy anniversary, all new
premiums will be allocated to Protector II Fund (debt oriented fund).
• All monies in Protector II Fund (debt oriented fund) will systematically be transferred
to Premier Multi-cap Fund (equity oriented fund) over the 12 month policy period.
• The units will be automatically transferred from Protector II Fund to Premier Multi-cap
Fund at the end of every month in the following manner:
Month1 1/12 of the units available at the end of Month 1
Month2 1/11 of the units available at the end of Month 2
Month3 1/10 of the units available at the end of Month 3
Month4 1/9 of the units available at the end of Month 4
Month5 1/8 of the units available at the end of Month 5
Month6 1/7 of the units available at the end of Month 6

10
 Month7 1/6 of the units available at the end of Month 7
Month8 1/5 of the units available at the end of Month 8
Month9 1/4 of the units available at the end of Month 9
Month10 1/3 of the units available at the end of Month 10
Month11 1/2 of the units available at the end of Month 11
Month12 Balance Units available at the end of the Month12

• Systematic transfer strategy if chosen during the term of the policy will be activated
only on the next policy anniversary.
• The policyholder would have two options with respect to existing monies, once he
chooses Systematic Transfer Strategy
o Transfer all existing monies from Protector II Fund to any other fund. In this case,
only the subsequent premiums allocated to Protector II Fund would be
systematically transferred to Premier Multi-cap Fund.
o Continue with existing monies in Protector II Fund: In this case, all monies,
including subsequent premiums, in Protector II Fund will be systematically
transferred to Premier Multi-cap Fund.
• This facility will be deactivated in case the policy moves to discontinuance fund
status.
• If Systematic transfer strategy is availed, no switches will be allowed to and from
Protector II
• In case premium payment mode is changed from Annual to any other mode, this
option will be deactivated
• In case the policyholder does not pay the premium on due date, on subsequent
premium payment the monies will be transferred from Protector II Fund to Premier
Multi-cap Fund over the remaining policy period as illustrated above.

LIFE-STAGE STRATEGY
You can utilize this strategy to ensure that your policy adapts to your changing needs,
depending on your life stage and age.
At policy inception, your premium, net of allocation charge is distributed between two funds,
Premier Multi-cap Fund (equity oriented fund) and Protector II Fund (debt oriented fund),
based on your attained age. As you move from one age band to another, your funds are
re-distributed based on your age. The age-wise portfolio distribution is shown in the table.

Age of policyholder
Premier Multi-cap Fund Protector II Fund
(years)
Up to 30 70% 30%
31 – 40 60% 40%
41 – 50 50% 50%
51 – 60 40% 60%
61 – 70 20% 80%
71 + 10% 90%
11
 • On a quarterly basis, units shall be rebalanced as necessary to achieve the above
proportions of the Fund Value in the Premier Multi-cap Fund and Protector II Fund.
The re-balancing of units shall be done on the last day of each policy quarter.
• On selection of Life – stage strategy, the existing funds / future premiums (if any) will
be allocated as per the applicable proportion between Premier Multi-cap Fund
(equity) and Protector II Fund (Debt), based on your age.
• No switches will be allowed as long as life–stage strategy is in effect
You can opt for only one of the Portfolio Strategies at any given time during the policy term.
Policy holder may use the change in portfolio strategy option to transfer amongst any of the
three portfolio strategies. The details are mentioned in the section on change in portfolio
strategy. Systematic transfer strategy if chosen during the term of the policy will be activated
only on the next policy anniversary.

New Fund Offering (NFO)

At PNB MetLife we are delighted to offer a new fund, the “Bharat Manufacturing Fund”
(ULIF02901/08/24BHARATFUND117). This fund invests in companies engaged in
manufacturing theme. Despite the potentially very high risk, manufacturing funds in India are
quite popular because of their potential for higher returns. The theory underlying these funds'
potential for increased returns is straightforward. India’s manufacturing sector is on the cusp
of a holistic surge, driven by a potent combination of government initiatives and expanding
domestic market. The fund’s investment objective is to provide long-term capital
appreciation by identifying companies poised to benefit from India’s manufacturing
resurgence. As a result, experts believe that schemes which are investing in manufacturing
sector / funds are best suited for individuals with a high risk tolerance and long-term
investment goals.

OTHER FEATURES

CHANGE IN SUM ASSURED

1. Change in Sum Assured will be allowed only on policy anniversaries, provided all due
premiums till date have been paid and provided monies are not in discontinued policy
fund. Any increase in sum assured may be exercised provided that the life assured is
aged not more than 60 years last birthday on the policy anniversary when this option
is exercised. Age restriction will not be applicable for reduction in sum assured.
2. Increase in Sum Assured is subject to underwriting. The cost of any medical reports
and charges will be borne by the life assured and will be deducted by redemption of
units.
3. Change in sum assured will be subject to the minimum and maximum SA multiple
available under the product.
4. Any increase in sum assured subsequent to opting decrease in sum assured will be
subject to conditions specified in 1 & 2. above.

12
PREMIUM REDIRECTION (ONLY UNDER SELF-MANAGED STRATEGY)
You can choose to change the allocation of future premiums with premium redirection. You
would have the option to change the premium allocation proportions free of charge.

SWITCHING (ONLY UNDER SELF-MANAGED STRATEGY)

You have the option to switch partially or fully between the available segregated fund
options, at any point of time during the policy term. The minimum value of every switch
should be Rs 5,000. All switches are free.

PARTIAL WITHDRAWALS
Partial withdrawals are available only after the completion of 5 policy anniversaries or on
attainment of age 18 by the Life Assured, whichever is later.
The partial withdrawals are free of any charge.
This partial withdrawal shall be subject to the current minimum limit of Rs. 5,000 and the
maximum partial withdrawal in a policy year shall not exceed 25% of the total fund value at
the time of withdrawal.
However, at any point of time during the policy term, the minimum fund balance after the
partial withdrawal should be at least equal to one annualized premium.
Partial withdrawals which would result in termination of a policy shall not be allowed.

FLEXIBLE PREMIUM PAYMENT MODES AND MODAL FACTORS

You may elect to pay premiums by Yearly, Half Yearly, or Monthly mode. Monthly mode is
available for Standing Instruction / Direct Debit options (including ECS (Electronic
Clearing\System), ACH (Automated Clearing House))
Factors on premium will be applicable as per the table below:
PREMIUM PAYING MODE MODAL FACTOR
Half Yearly 1/2
Monthly* 1/12
*Monthly mode available only for standing instructions/ direct debit options (including Electronic Clearing System (ECS),
and Automated Clearing House (ACH))

POLICY LOANS & TOP UPS

Not allowed under this policy.

CHANGE IN PORTFOLIO STRATEGY

You can change your portfolio strategy once every policy year, provided the monies are not
in Discontinued Fund. This facility is provided free of cost. If un-utilized, it cannot be carried
forward to the next policy year.

GRACE PERIOD FOR OTHER THAN SINGLE PREMIUM POLICIES

You have a grace period of 30 days (15 days for monthly mode) from the due date of unpaid
remium to pay all your due Premiums without any late fee or penalty. In case you do not pay

13
your Premiums in the grace period your policy attains the status of Discontinued Policy. Your
policy remains in-force during the grace period.

FREE LOOK PERIOD

Please go through the terms and conditions of Your Policy carefully. If You have any
objections to the terms and conditions of Your Policy, You may cancel the Policy by giving a
written notice to Us within (30 days beginning from the date of receipt of Policy Document,
whether received electronically or otherwise, stating the reasons for Your objection and You
will be entitled to refund of the premium paid, subject only to deduction of proportionate risk
premium for the period of cover and the expenses if any, incurred on medical examination,
and stamp duty charges.

PREMIUM DISCONTINUANCE
DISCONTINUANCE OF POLICY DURING LOCK – IN PERIOD (NOT APPLICABLE IF SINGLE
PAY OPTION IS IN FORCE UNDER THE POLICY)
In case of discontinuance of policy due to non-payment of premium upon expiry of the Grace
period, the policy will either Lapse or get converted to Paid-Up Status in accordance with the
following provisions:
Upon expiry of the grace period, in case of discontinuance of policy due to non-payment of
premium, the fund value after deducting the applicable discontinuance charges, shall be
credited to the discontinued policy fund and the risk cover shall cease.
Such discontinuance charges shall not exceed the charges mentioned in the Charges
section. The Company will also send a notice within three months of the first unpaid
premiums to the discontinued policyholder to
All such discontinued policies shall be provided a revival period of three years from
date of first unpaid premium. On such discontinuance, the company will communicate
the status of the policy, within three months of the first unpaid premium, to the
policyholder and provide the option to revive the policy within the revival period of
three years as below:
i. In case the policyholder opts to revive but does not revive the policy during the revival
period, the proceeds of the discontinued policy fund shall be paid to the policyholder
at the end of the revival period or lock-in period whichever is later. In respect of
revival period ending after lock-in period, the policy will remain in discontinuance
fund till the end of revival period. The Fund management charges of discontinued fund
will be applicable during this period and no other charges will be applied.
ii. In case the policyholder does not exercise the option as set out above, the policy shall
continue without any risk cover, and the policy fund shall remain invested in the
discontinuance fund. At the end of the lock-in period, the proceeds of the
discontinuance fund shall be paid to the policyholder and the policy shall terminate.
iii. However, the policyholder has an option to surrender the policy anytime and
proceeds of the discontinued policy shall be payable at the end of lock-in period or
date of surrender whichever is later.

14
DISCONTINUANCE OF POLICY AFTER LOCK – IN PERIOD (NOT APPLICABLE IF SINGLE
PAY OPTION IS IN FORCE UNDER THE POLICY)
Upon expiry of the grace period, in case of discontinuance of policy due to non-payment of
premium after lock-in period, the policy shall be converted into a reduced paid up policy with
the paid-up sum assured i.e. original sum assured multiplied by the total number of premiums
paid to the original number of premiums payable as per the terms and conditions of the
policy. The policy shall continue to be in reduced paid-up status without rider cover, if any.
i. All charges as per terms and conditions of the policy may be deducted during the
revival period. However, the mortality charges shall be deducted based on the
reduced paid up sum assured only. On such discontinuance, Insurer shall
communicate the status of the policy, within three months of the first unpaid
premium, to the policyholder and provide the following options:
(a) To revive the policy within the revival period of three years, or
(b) Complete withdrawal of the policy.
ii. In case the policyholder opts for (a) above but does not revive the policy during the
revival period, the fund value shall be paid to the policyholder at the end of the revival
period.
iii. In case the policyholder does not exercise any option as set out above, the policy shall
continue to be in reduced paid up status. At the end of the revival period the proceeds
of the policy fund shall be paid to the policyholder and the policy shall terminate.
iv. However, the policyholder has an option to surrender the policy anytime and
proceeds of the policy fund shall be payable.
At no time the death benefit under a life insurance product shall be less than 105 percent of
the total premiums received up to the date of death under the base benefit including top-ups
premium paid and may exclude partial withdrawals made during two-year period
immediately preceding the death of the life assured

DISCONTINUANCE OF SINGLE PREMIUM POLICY

i) During the Lock – in Period
The policyholder has an option to surrender any time during the lock-in period. In case
of surrender during the first five policy years (lock-in period), the Total Fund Value
under the said Policy, after deduction of Discontinuance Charges (as specified in
section 8.5 (d) below), will be transferred to the Discontinued Policy Fund.
The proceeds from the discontinuance fund shall be paid at the end of lock-in period.
Only fund management charge will be deducted from this fund during this period.
Further, no risk cover shall be provided on such policy during the discontinuance
period.

ii) After the Lock – in Period

In case of Single Premium Policies, the policyholder has an option to surrender the
policy any time. Upon receipt of request for surrender after the first five years, the
fund value as on date of surrender shall be payable.

15
TREATMENT OF THE POLICY WHILE MONIES ARE IN THE DISCONTINUED POLICY FUND
While monies are in the Discontinued Policy Fund:
i. Risk Cover and Minimum Death Benefit will not apply
ii. The fund management charge on discontinued policy fund shall be declared by the
Authority from time to time. Currently, the fund management charge is 0.50% p.a. No
other charges will apply.
iii. From the date monies enter the Discontinued Policy Fund till the date they leave the
Discontinued Policy Fund, a minimum guaranteed interest rate declared by IRDAI
from time to time will apply. The current minimum guaranteed interest rate applicable
to the Discontinued Policy Fund is 4% p.a.
iv. The excess income earned in the Discontinued Policy Fund over and above
the minimum guaranteed interest rate shall also be apportioned to the
Discontinued Policy Fund in arriving at the proceeds of the discontinued policies.
The date of discontinuance of the policy is the date on which intimation is received from the
policyholder about discontinuance of the policy or surrender of the policy, or the expiry of
the notice period, whichever is earlier.

DISCONTINUED POLICY FUND

For the policies where the premiums are discontinued, the Fund Value will be moved to
Discontinued Policy Fund. The proceeds of the Discontinued Policy Fund shall be payable
only upon completion of Lock-in period, except in the case of death of the life assured,
wherein the discontinuance fund value shall be payable immediately to the nominee.
The investment mix for the Discontinued Policy Fund is as follows:
Money market: 0% - 100%,
Government Securities: 0% - 25%
The minimum guaranteed interest rate on this Fund is 4.0% (Four percent) per annum (or as
mandated by the Authority from time to time). The Fund Management Charge for the
Discontinued Policy Fund is 0.5% per annum. The excess income earned in the Discontinued
Policy Fund over and above the minimum guaranteed interest rate shall also be apportioned
to the Discontinued Policy Fund.

SURRENDER
• During the first five policy years, on receipt of surrender intimation, the Fund Value
after deduction of applicable Discontinuance Charge, shall be transferred to the
Discontinued Policy Fund.
• The proceeds of the discontinued policy shall be paid at the end of lock-in period.
Only fund management charge will be deducted from this fund during this period.
Further, no risk cover shall be provided on such policy during the discontinuance
period.
• On surrender after completion of the fifth policy year, you will be entitled to the total
Fund Value under the policy.
• Once a policy is surrendered in full, it is terminated and cannot be revived.

16
REVIVAL OF THE POLICY
On discontinuance of policy, if the Policyholder has chosen option to revive the policy, within
revival period of 3 years from the date of discontinuance of policy, the policy shall be revived
restoring the risk cover along with investment made in fund chosen by the policyholder out
of the discontinued fund less applicable charges as referred below, shall be levied. Where a
policy is discontinued, the steps outlined in ‘Premium Discontinuance’ section of this
document will be followed. If the Policyholder opts to revive the policy within the revival
period then revival of the discontinued policy is subject to the following conditions:
• The revival of the policy shall be subject to the Board Approved Underwriting Policy
of the Company.
• The Company reserves the right to obtain additional information before reviving the
Policy and also the right to decline revival of the policy or impose extra mortality
charges as per Board Approved Underwriting Policy of the Company.
• The Policyholder paying all due premiums that would have been payable from the
date of default to the proposed date of revival without any interest or fee.
• Revival during lock-in period:
o Upon receipt of all due Premiums, the Policy Admin Charges and Premium
Allocation Charges for the past due Premiums will be deducted before allocating
the balance amount to the Unit Account.
o No other charges will be levied
o The Company shall add back to the Fund, the Discontinuance Charges, if
applicable, deducted at the time of discontinuance of the Policy.
• Revival after lock-in period:
o Upon receipt of all due Premiums, Premium Allocation Charges for the past due
Premiums will be deducted before allocating the balance amount to the Unit
Account.
o No other charges will be levied

AUTO FORECLOSURE OF THE POLICY

For Regular Pay & Limited Pay with premium paying term of 10 years or more:
At any point of time during the policy term after the premium payment term, if the fund value
goes below one Annualized premium, the policy shall be foreclosed be paying fund value
available at that point of time. However, In-force premium paying policies shall not be
foreclosed during the premium payment term.

For Single Pay & Limited Pay with premium paying term less than 10 years:
At any point of time during the policy term after the premium payment term, if the fund value
goes below 10% of single premium or 10% of one Annualized premium for limited pay, the
policy shall be foreclosed be paying fund value available at that point of time. However,
In-force premium paying policies shall not be foreclosed during the premium payment term.
In-force Single Pay policies shall not be foreclosed during the lock-in period.

17
TERMINATION OF THE POLICY
The Policy will be terminated on the earliest of the following:
• On cancellation during Free look period
• The date on which policy is foreclosed
• The date of payment of Maturity Benefit, or of Surrender Value (if any)
• At the expiry of the Revival period, if the Policy has not been revived and provided the
said Policy has not been converted into a Paid-Up Status
• The date of payment of Death Benefit

APPLICABLE CHARGES

MORTALITY CHARGES
Mortality charge will be deducted at the beginning of each policy month by cancellation of
an appropriate number of units at the corresponding Net Asset Value.
Mortality charge will be based on the attained age of the Life Insured, Rate as per Mortality
Charge Table, and the applicable Sum at Risk (Death Benefit less Fund Value).

MORBIDITY CHARGES
Wealth Option: Not Applicable
Wealth + Care Option: Morbidity charge will be deducted at the beginning of each policy
month by cancellation of an appropriate number of units at the corresponding Net Asset
Value.
Morbidity charge will be based on the attained age of the Life Insured, Rate as per Morbidity
Charge Table, and the applicable Sum at Risk (present value of future premiums).

PARTIAL WITHDRAWAL CHARGES

You can make unlimited Partial Withdrawals in a Policy Year free of any charge.

PREMIUM ALLOCATION CHARGES

These are expressed as percentage of premium and are levied through the first 10 years only.
It is deducted from the premium amount at the time of premium payment and balance units
are allocated in the chosen funds thereafter.

Allocation charge per annum

Policy Year Other than Single Premium
Single Premium Policies
Policies
1 3% 12%
2–5 NA 4.2%
6-10 NA 2.5%
11 onwards NA NIL

18
POLICY ADMINISTRATION CHARGES
Policy administration charges of ₹ 420 p.a. will be levied at the beginning of each policy
month from the unit fund by cancelling units for equivalent amount.

FUND MANAGEMENT CHARGES

The fund management charge is levied as a percentage of the Value of Assets underlying the
Unit Fund and shall be appropriated by adjusting the Net Asset Value. This is a charge levied
at the time of computation of the Net Asset Value, which is done on a daily basis.

Fund Management
Fund Option SFIN
Charges (p.a.)
Protector II ULIF00915/12/09PROTECTOR2117 1.00%
Bond Opportunities Fund ULIF02401/01/18BONDOPPORT117 1.00%
Liquid Fund ULIF01909/10/15LIQUIDFUND117 1.00%
Balancer II ULIF01015/12/09BALANCER2F117 1.15%
Balanced Opportunities Fund ULIF02301/01/18BALANCEOPP117 1.15%
Multiplier III ULIF01809/10/15MULTIPLIE3117 1.25%
Premier Multi-cap Fund ULIF02101/01/18MULTICAPFN117 1.25%
Mid Cap Fund ULIF02501/01/18MIDCAPFUND117 1.25%
CREST (thematic fund) ULIF02201/01/18CRESTTHEMF117 1.25%
Flexi Cap ULIF01315/12/09FLEXICAPFN117 1.25%
Virtue II ULIF01215/12/09VIRTUE2FND117 1.25%
Small Cap Fund ULIF02819/02/24SMALLCAPFN117 1.25%
Bharat Manufacturing Fund ULIF02901/08/24BHARATFUND117 1.25%
Discontinued Fund ULIF01721/12/10DISCONTINU117 0.50%

19
DISCONTINUANCE CHARGES
The Discontinuance Charges specified below are expressed either as a percentage of the
fund value (FV) or as a percentage of the annualized premium (AP) or Single Premium:
For Single Premium Policies:

Where the policy Discontinuance Charges

is discontinued
during the Policy
Year Annualised Premium <= 3,00,000 Annualised Premium > 3,00,000

Lower of 2% * (SP or FV) subject to Lower of 1% * (SP or FV) subject to

1
maximum of Rs.3,000 maximum of Rs.6,000
Lower of 1.5% * (SP or FV) subject Lower of 0.7% * (SP or FV) subject to
2
to maximum of Rs.2,000 maximum of Rs.5,000
Lower of 1% * (SP or FV) subject to Lower of 0.5% * (SP or FV) subject to
3
maximum of Rs.1,500 maximum of Rs.4,000
Lower of 0.5% * (SP or FV) subject Lower of 0.35% * (SP or FV) subject to
4
to maximum of Rs.1,000 maximum of Rs.2,000
5+ Nil Nil

For other than Single Premium Policies:

Where the policy Discontinuance Charges
is discontinued
during the Policy
Year Annualised Premium <= 50,000 Annualised Premium > 50,000

Lower of 20% * (AP or FV) subject Lower of 6% * (AP or FV) subject to

1
to maximum of Rs.3,000 maximum of Rs.6,000
Lower of 15% * (AP or FV) subject to Lower of 4% * (AP or FV) subject to
2
maximum of Rs.2,000 maximum of Rs.5,000
Lower of 10% * (AP or FV) subject Lower of 3% * (AP or FV) subject to
3
to maximum of Rs.1,500 maximum of Rs.4,000
Lower of 5% * (AP or FV) subject to Lower of 2% * (AP or FV) subject to
4
maximum of Rs.1,000 maximum of Rs.2,000
5+ Nil Nil

20
SWITCHING CHARGES
You can make unlimited switches in a Policy Year free of any charge.

GOODS AND SERVICES TAX CHARGES

This charge as notified by the Government from time to time will be made by redemption of
appropriate number of units at the applicable Net Asset Value. Goods and Services tax shall
be on Mortality Charges, Morbidity Charges, Policy Administration Charges, Premium
Allocation Charges and Fund Management Charges as per prevailing regulations.

REVISION IN RATE OF CHARGES

We reserve the right to increase / decrease the fund management charge and the policy
administration charge with prior intimation as per process prescribed by the Authority.
The following limits are applicable:
• Fund Management Charge may be increased up to the maximum allowable as per
then applicable regulations, currently as per the Regulations a maximum of 1.35% p.a.
applies to fund management charge.
• Policy Administration Charge may be increased up to a maximum of 5% of the
premiums per annum subject to the maximum permitted by the Regulation. The
company has put an upper limit on this charge of Rs 6,000 pa.

DEFINITIONS AND EXCLUSIONS FOR CARE BENEFIT

1) First Heart Attack – Of Specified Severity

The first occurrence of heart attack or myocardial infarction, which means the death of a
portion of the heart muscle as a result of inadequate blood supply to the relevant area.
The diagnosis for Myocardial Infarction will be evidenced by all of the following criteria:
• a history of typical clinical symptoms consistent with the diagnosis of Acute
Myocardial Infarction (for e.g. typical chest pain)
• new characteristic electrocardiogram changes
• elevation of infarction specific enzymes, Troponins or other specific biochemical
markers.
The following are excluded:
• A rise in cardiac biomarkers or Troponin T or I in absence of overt ischemic heart
disease OR following an intra-arterial cardiac procedure;
• Other acute Coronary Syndromes
• Any type of angina pectoris
2) Open Chest CABG
The actual undergoing of heart surgery to correct blockage or narrowing in one or more
coronary artery(s), by coronary artery bypass grafting done via a sternotomy (cutting
through the breast bone) or minimally invasive keyhole coronary artery bypass
procedures. The diagnosis must be supported by a coronary angiography and the
realization of surgery has to be confirmed by a cardiologist.
The following are excluded:
• Angioplasty and/or any other intra-arterial procedures

21
3) Cancer of Specified Severity
A malignant tumor characterized by the uncontrolled growth and spread of malignant
cells with invasion and destruction of normal tissues. This diagnosis must be supported by
histological evidence of malignancy. The term cancer includes leukemia, lymphoma and
sarcoma.
The following are excluded –
• All tumors which are histologically described as carcinoma in situ, benign,
premalignant, borderline malignant, low malignant potential, neoplasm of unknown
behavior, or non-invasive, including but not limited to: Carcinoma in situ of breasts,
Cervical dysplasia CIN-1, CIN - 2 and CIN-3.
• Any non-melanoma skin carcinoma unless there is evidence of metastases to lymph
nodes or beyond;
• Malignant melanoma that has not caused invasion beyond the epidermis;
• All tumors of the prostate unless histologically classified as having a Gleason score
greater than 6 or having progressed to at least clinical TNM classification T2N0M0
• All Thyroid cancers histologically classified as T1N0M0 (TNM Classification) or below;
• Chronic lymphocytic leukaemia less than RAI stage 3
• Non-invasive papillary cancer of the bladder histologically described as TaN0M0 or of
a lesser classification,
• All Gastro-Intestinal Stromal Tumors histologically classified as T1N0M0 (TNM
Classification) or below and with mitotic count of less than or equal to 5/50 HPFs;
4) Kidney failure requiring regular dialysis
End stage renal disease presenting as chronic irreversible failure of both kidneys to
function, as a result of which either regular renal dialysis (haemodialysis or peritoneal
dialysis) is instituted or renal transplantation is carried out. Diagnosis has to be confirmed
by a specialist medical practitioner.
5) Stroke resulting in permanent symptoms
Any cerebrovascular incident producing permanent neurological sequelae. This includes
infarction of brain tissue, thrombosis in an intracranial vessel, haemorrhage and
embolisation from an extracranial source. Diagnosis has to be confirmed by a specialist
medical practitioner and evidenced by typical clinical symptoms as well as typical
findings in CT Scan or MRI of the brain. Evidence of permanent neurological deficit
lasting for at least 3 months has to be produced.
The following are excluded:
• Transient ischemic attacks (TIA)
• Traumatic injury of the brain
• Vascular disease affecting only the eye or optic nerve or vestibular functions.

Exclusions for the Critical Illness Benefit

The following are the minimum exclusions for the WoP on CI benefit with Wealth + Care
Option. Additional exclusions are disease-specific and are incorporated into the definition of
the disease.
Apart from the disease specific exclusions given along with definitions of diseases, no waiver
of premium benefit (care benefit) will be payable if the Critical Illness is caused or aggravated

22
directly or indirectly by any of the following acts of the life insured unless those are beyond
his / her control. Benefits shall not be paid in case of claims arising as a result of any of the
following:
• Any diseases occurring within 90 days of the start of coverage or date of revival (i.e.
during the waiting period). In case of diagnosis of a Critical Illness condition
contracted during the waiting period, then this inbuilt waiver of premium benefit will
be terminated without any value or refund of premium paid;
• Failure to follow medical advice;
• Any condition that is pre-existing at the time of inception of the policy
a. Pre-existing Disease means any condition, ailment, injury or disease: That is/are
diagnosed by a physician within 36 months prior to the effective date of the policy
issued by the insurer or its reinstatement.
b. For which medical advice or treatment was recommended by, or received from, a
physician within 36 months prior to the effective date of the policy or its reinstatement.
• Intentional self-inflicted injury, attempted suicide.
• Insured person being under the influence of drugs, alcohol, narcotics or psychotropic
substances unless taken in accordance with the lawful directions and prescription of
a registered medical practitioner;
• War, invasion, act of foreign enemy, hostilities (whether war be declared or not),
armed or unarmed truce, civil war, mutiny, rebellion, revolution, insurrection, military
or usurped power, riot or civil commotion, strikes;
• Participation by the insured person in a criminal or unlawful act with illegal or criminal
intent;
• Engaging in or taking part in professional or adventure sport(s) which are hazardous in
nature including but not limited to, diving or riding or any kind of race; underwater
activities involving the use of breathing apparatus or not; martial arts; hunting;
mountaineering; parachuting; bungee-jumping;
• Nuclear Contamination; the radio-active, explosive or hazardous nature of nuclear
fuel materials or property contaminated by nuclear fuel materials or accident arising
from such nature.
Additional exclusions specific for Critical Illness benefit
Apart from the disease specific exclusions given along with definitions of diseases, no benefit
will be payable if the critical illness is caused or aggravated directly or indirectly by any of the
following:
• Existence of any sexually Transmitted Disease (STD) and its related complications
• Any disease occurring within 90 days of the start of coverage (i.e. during the waiting
period) or date of reinstatement whichever is later.
• Any congenital condition.

NOMINATION

Nomination should be in accordance with provisions of Section 39 of the Insurance Act 1938
as amended from time to time. Nomination of this Policy is not applicable if the Policy has
been effected under Section 6 of the Married Women’s Property Act 1874

23
 ASSIGNMENT

Assignment should be in accordance with provisions of Section 38 of the Insurance Act 1938
as amended from time to time. Assignment of this Policy is not applicable if the Policy has
been effected under Section 6 of the Married Women’s Property Act 1874.

TAX BENEFITS

Tax benefits under this plan may be available as per the provisions and conditions of the
Income Tax Act, 1961 and are subject to any changes made in the tax laws in future. Please
consult your tax advisor for advice on the availability of tax benefits for the Premiums paid
and proceeds received under the policy for more details.

SUICIDE CLAUSE

In case of death due to suicide within 12 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 policy
holder shall be entitled to the Fund Value, as available on the date of intimation of death.
Further any charges other than Fund Management Charges (FMC) and guarantee charges
recovered subsequent to the date of death shall be added back to the fund value as available
on the date of intimation of death.

RISKS INHERENT IN THE SEGREGATED FUNDS:

Due to the nature of the Segregated Funds, the Company does not guarantee the price of the
Units of any of the Segregated Funds offered by it. Unit Linked Life Insurance products are
different from the traditional insurance products and are subject to the risk factors.
The Insured (and the Policyholder, if different) is aware that the investment in units is subject,
inter alia (amongst others), to the following risks:
• PNB MetLife India Insurance Company is the name of the Insurance Company and
PNB MetLife Smart Platinum Plus is only the name of the unit linked life insurance
contract and does not in any way indicate the quality of the contract, its future
prospects or returns
• Any investment in Segregated Funds available under the Policy is subject to market
risks and other risks.
• 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.
• The investment risk in the investment portfolio will be borne by you.
• There is no assurance that the objectives of any of the Segregated Funds will
be achieved;
• The NAV of any of the Segregated Funds may increase or decrease as per the
performance of financial markets;

24
 • The past performance of any of the Segregated Funds does not indicate the future
performance of these funds.
• The Segregated Funds, except the Discontinued Policy Fund, do not offer a
guaranteed or assured return;
• All benefits payable under the Policy are subject to the tax laws and other
legislations/regulations as they exist from time to time; Please know the associated
risks from the Financial advisor or the intermediary
• 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.

GRIEVANCE REDRESSAL

In case you have any query or complaint or grievance. You may approach any of Our
following touch points:
• Call 1800-425-69-69 (Toll free)
• Email at indiaservice@pnbmetlife.co.in
• Write to
Customer Service Department,
1st Floor, Techniplex -1, Techniplex Complex, Off Veer Savarkar Flyover,
Goregaon (West), Mumbai – 400062.
• Online through Our website www.pnbmetlife.com
• Our nearest PNB MetLife branch across the country
For any escalation with the resolution provided by the above touch points, you may, write to
Our Grievance Redressal Officer at gro@pnbmetlife.co.in
If you do not get appropriate resolution, you may approach Insurance Ombudsman on
https://www.cioins.co.in/Ombudsman”

EXTRACT OF SECTION 41 OF THE INSURANCE ACT,

1938,AS AMENDEDFROM TIME TO TIME STATES

1) No person shall allow or offer to allow, either directly or indirectly, as an inducement

to any person to take out or renew or continue an insurance in respect of any kind of
risk relating to lives or property in India, any rebate of the whole or part of the
commission payable or any rebate of the premium shown on the policy, nor shall any
person taking out or renewing or continuing a policy accept any rebate, except such
rebate as may be allowed in accordance with the published prospectuses or tables of
the insurer
(2) Any Person making default in complying with the provisions of this section shall be
punishable with fine which may extend to ten lakh rupees.

FRAUD AND MISSTATEMENT

Treatment will be as per Section 45 of the Insurance Act, 1938 as amended from time to time.
The policyholder can know the value of policy wise units as per the FORM D02 through a
secured login on the PNB MetLife website (www.pnbmetlife.com)
25
  Please read this Sales brochure carefully before concluding any sale.
 This product brochure is only indicative of terms, conditions, warranties and
exceptions contained in the insurance policy. The detailed Terms and Conditions are
contained in the Policy Document.
Policy shall not be called in question on ground of misstatement after three years.
(1) No policy of life insurance shall be called in question on any ground whatsoever after the
expiry of three years from the date of the policy, i.e., from the date of issuance of the
policy or the date of commencement of risk or the date of revival of the policy or the date
of the rider to the policy, whichever is later.

(2) A policy of life insurance may be called in question at any time within three years from
the date of issuance of the policy or the date of commencement of risk or the date of
revival of the policy or the date of the rider to the policy, whichever is later, on the ground
of fraud:
Provided that the insurer shall have to communicate in writing to the insured or the legal
representatives or nominees or assignees of the insured the grounds and materials on
which such decision is based.
Explanation I. — For the purposes of this sub-section, the expression "fraud" means any
of the following acts committed by the insured or by his agent, with intent to deceive the
insurer or to induce the insurer to issue a life insurance policy:—
(a) the suggestion, as a fact of that which is not true and which the insured does not
believe to be true;
(b) the active concealment of a fact by the insured having knowledge or belief of the fact;
(c) any other act fitted to deceive; and
(d) any such act or omission as the law specially declares to be fraudulent.
Explanation II. — Mere silence as to facts likely to affect the assessment of the risk by
the insurer is not fraud, unless the circumstances of the case are such that regard being
had to them, it is the duty of the insured or his agent keeping silence, to speak, or unless
his silence is, in itself, equivalent to speak.

(3) Notwithstanding anything contained in sub-section (2), no insurer shall repudiate a life
insurance policy on the ground of fraud if the insured can prove that the misstatement of
or suppression of a material fact was true to the best of his knowledge and belief or that
there was no deliberate intention to suppress the fact or that such misstatement of or
suppression of a material fact are within the knowledge of the insurer:
Provided that in case of fraud, the onus of disproving lies upon the beneficiaries, in case
the policyholder is not alive.
Explanation. —A person who solicits and negotiates a contract of insurance shall be
deemed for the purpose of the formation of the contract, to be the agent of the insurer.

(4) A policy of life insurance may be called in question at any time within three years from the
date of issuance of the policy or the date of commencement of risk or the date of revival
of the policy or the date of the rider to the policy, whichever is later, on the ground that
any statement of or suppression of a fact material to the expectancy of the life of the
insured was incorrectly made in the proposal or other document on the basis of which the

26
 policy was issued or revived or rider issued:
Provided that the insurer shall have to communicate in writing to the insured or the legal
representatives or nominees or assignees of the insured the grounds and materials on
which such decision to repudiate the policy of life insurance is based:
Provided further that in case of repudiation of the policy on the ground of misstatement
or suppression of a material fact, and not on the ground of fraud, the premiums collected
on the policy till the date of repudiation shall be paid to the insured or the legal
representatives or nominees or assignees of the insured within a period of ninety days
from the date of such repudiation.
Explanation. — For the purposes of this sub-section, the misstatement of or suppression
of fact shall not be considered material unless it has a direct bearing on the risk
undertaken by the insurer, the onus is on the insurer to show that had the insurer been
aware of the said fact no life insurance policy would have been issued to the insured.

(5) Nothing in this section shall prevent the insurer from calling for proof of age at any time
if he is entitled to do so, and no policy shall be deemed to be called in question merely
because the terms of the policy are adjusted on subsequent proof that the age of the
life insured was incorrectly stated in the proposal.

About PNB MetLife

PNB MetLife India Insurance Company Limited (PNB MetLife) is one of the leading life
insurance companies in India. PNB MetLife has as its shareholders MetLife International
Holdings LLC (MIHL), Punjab National Bank Limited (PNB), Jammu & Kashmir Bank Limited
(JKB), M. Pallonji and Company Private Limited and other private investors, MIHL and PNB
being the majority shareholders. PNB MetLife has been present in India since 2001.
PNB MetLife brings together the financial strength of a leading global life insurance provider,
MetLife, Inc., and the credibility and reliability of PNB, one of India's oldest and leading
nationalised banks. The vast distribution reach of PNB together with the global insurance
expertise and product range of MetLife makes PNB MetLife a strong and trusted insurance
provider.
For more information, visit www.pnbmetlife.com

PNB MetLife India Insurance Company Limited, Registered offi¬ce address: Unit No. 701, 702 & 703, 7th Floor, West Wing, Raheja Towers, 26/27 M G
Road, Bangalore - 560001, Karnataka. IRDAI Registration number 117. CI No: U66010KA2001PLC028883. PNB MetLife Smart Platinum Plus Plan
(UIN:117L125V03) is an Individual, Unit-Linked, Non-Participating, Life Insurance Plan. For more details on terms & conditions, Please read the Sales
brochure carefully before concluding any sale. This version of the documents invalidates all previous printed versions for this particular plan. This product
brochure is only indicative of terms, conditions, warranties, and exceptions contained in the insurance policy. Please refer to the detailed Terms and
Conditions which are contained in the Policy Document. 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. Goods and Services Tax (GST) shall be levied as per prevailing tax laws which are
subject to change from time to time. The marks “PNB” and “MetLife” are registered trademarks of Punjab National Bank and Metropolitan Life Insurance
Company, respectively. PNB MetLife India Insurance Company Limited is a licensed user of these marks. Email: indiaservice@pnbmetlife.co.in or Write to
us: 1st Floor, Techniplex -1, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West), Mumbai – 400062, Maharashtra. AD-F/2024-25/506.

BEWARE OF SPURIOUS PHONE CALLS AND FICTIOUS /FRAUDULENT OFFERS!

IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are
requested to lodge a police complaint.