Met Smart Platinum

There are 2 riders available in this policy

1. Accidental Death Benefit rider

2. Critical Illness rider

Under this plan the policy holder gets 2 investment strategy options:

A. Self Managed Option - There are 6 fund options under this strategy

1. Protector II

2. Preserver II

3. Balancer II

4. Flexi Cap

5. Virtue II

6. Multiplier II

B. Auto Rebalancing Option

Minimum Top-Up is Rs 5,000. Any Top-up Premiums paid will increase the Sum Assured by higher of 1.25 times of the Top-up Premiums paid.

Minimum switch amount is Rs 5,000. There are 4 free switches in a policy year. However, switches made through internet are free. The switching option is not available in case you opt for Auto Rebalancing Option.

You are allowed to make partial withdrawals in this policy after 5 complete policy years. The minimum amount is Rs 5,000 subject to the fund value immediately after partial withdrawal being at least equal to 120%of the annual premium. A maximum of 1 partial withdrawal allowed in a policy year and all are free of charge

In the unfortunate event of death, while the Policy is in force & before the maturity date, the nominee will get the following death benefit.

i) If the death of the Person Insured occurs before the attainment of age 60: The death benefit payable will be higher of

- The Base Fund Value (the value of units pertaining to Base Premium Account),

or

- The Base Sum Assured less all Partial Withdrawals (excluding any withdrawals made from Top-up Premium Account), made in accordance with the Partial Withdrawal provisions in the last 24 months preceding the date of death of the Person Insured

or

- 105% of the total Regular / Limited Premiums paid

ii) If the death of the Person Insured occurs on or after the attainment of age 60: The death benefit payable will be higher of

- The Base Fund Value (the value of units pertaining to Base Premium Account

or

- Base Sum Assured less all Partial Withdrawals (excluding any withdrawals made from Top-up Premium Account) made in accordance with the Partial Withdrawal provisions, during the last 24 months immediately preceding the date of death or all Partial Withdrawals made in accordance with the Partial Withdrawal provisions post attainment of age 60, whichever is higher

or

- 105% of the total Regular / Limited Premiums paid

In addition to any of i) or ii) above, and provided Top-up Premiums are paid the higher of

- The Top-up Fund Value (the value of units pertaining to Top-up Premiums

Or

- Top-up Sum Assured (less any Partial Withdrawals from Top-up Fund Value, as per Partial Withdrawal provisions before and after age 60, as stated above)

- 105% of the total Top-up Premiums paid (as on the date of receipt of written intimation of Claim with appropriate proof of death at the designated office) shall also be payable

If the policy holder survives the policy term, then he gets the Fund Value. The Policy matures at the start of the Policy Year when the Person Insured attains the age of 99 years–last birthday.

Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C