PNB MetLife Unit Linked Employee Benefit Plan, Policy, Premium and Maturity Calculator

Eligibility - PNB MetLife Unit Linked Employee Benefit Plan and Policy

Key Features - PNB MetLife Unit Linked Employee Benefit Plan and Policy

There are some special features of this particular ULEBP . Read on to know more:

Benefits and Advantages - PNB MetLife Unit Linked Employee Benefit Plan and Policy

• Death Benefit under Leave encashment: Benefits are calculated on the basis of the Scheme Rules as on the death date of the individual and when confirmed by the Employer/Trustees on the discretion to the extent of benefit funded by the scheme. The risk cover amount of Rs. 1,000 will be paid by the Company.
• Retirement, resignation/termination, disablement etc. of Member: Benefits payable will again be calculated based on the Scheme Rules as on the date of the exit from service and as confirmed by the Employer / Trustees subject to the extent of Fund Value.
• In case of death of Member under gratuity Scheme: The death benefit will be calculated on the basis of the Scheme Rules as on the date of exit from service and as confirmed by the Employer/Trustees subject to the extent of the Fund Value. The risk cover amount of Rs. 1,000 will be paid by the Company.
• You have 5 types of funds to choose from that includes Debt Fund and Balanced Fund.
• PNB MetLife India has a provision to give you a statement of account once a year.
• Switching facility is also available between the 5 funds.
• There is a provision to make payments as gratuity contribution (both past service liability and current service cost) in the form of installments.
• Annual actuarial valuation (AS 15) can be done for the Group Policyholder to investigate the contribution under the Scheme
• Tax Benefit: The premium amount paid by an organization gets tax benefits under the Income Tax Act of 1961.

Investment of Funds - PNB MetLife Unit Linked Employee Benefit Plan and Policy

Charges - PNB MetLife Unit Linked Employee Benefit Plan and Policy

The following charges are applicable for this unit-link group plan:

Contribution Allocation Charge: This is chargeable at 0.25% of the initial / annual contribution, if the sum of initial/annual Contribution equal to or less than Rs.5,000,000 under the Scheme in any year.

Mortality Charges: This amount is payable at Rs.1.35 per annum, for every Rs.1000 Sum Assured will be deducted on monthly basis by way of unit cancellation of appropriate Units using the corresponding NAV.

Fund Management Charges (FMC): This charge is variable but the maximum Fund Management Charge is set at 1.35% per annum of Unit Linked Funds under management.

Surrender Charge: This is equivalent to the Fund Value in the Account less the Surrender Charge as follows:

Contribution Redirection Charges: The first two Contribution allocations per year are not chargeable in tenure.

Service Tax: This is charged as notified by the Government from time to time when cancellation of adequate number of units at the appropriate NAV.

Miscellaneous Charges: Rs.250 for additional servicing requests are chargeable on the following:

Riders - PNB MetLife Unit Linked Employee Benefit Plan and Policy

No Riders available for this plan.