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PNB MetLife Collaborates with Policybazaar to Introduce Smart Invest Pension Plan.

Banking & Finance | Dated: 10 Feb 2025

On February 6, 2025, Mumbai (Maharashtra)-based PNB MetLife India Insurance Company Limited (PNB MetLife) partnered with Gurugram (Haryana)-based Policybazaar Insurance Brokers Private Limited to introduce the 'PNB MetLife Smart Invest Pension Plan,' a Unit-Linked, Non-Participating Individual Pension Plan. This partnership focuses on delivering accessible and seamless retirement solutions through digital platforms.

🎯 Key Highlights:

  • - The plan is specifically designed for individuals aged 40 to 50 years, offering flexibility for early retirement planning and ensuring financial security post-retirement.
  • - The plan includes two funds—Pension Mid Cap Fund and Pension Bond Fund—available from February 1 to February 14, 2025. It offers a 60% tax-free lump sum withdrawal and a Rs.10 Net Asset Value (NAV) for both funds.

💡 Other Important Facts:

  • (i) The plan ensures maximum investment growth by eliminating premium allocation and policy administration charges. Additionally, it offers flexibility to postpone the vesting age up to 70 years, allowing individuals to align their retirement goals as per their evolving financial needs.
  • (ii) Investors can choose between the Pension Mid Cap Fund for higher growth potential or the Pension Bond Fund for stability. The plan also provides unlimited fund switches, premium redirection, and partial withdrawals after 5 years, offering greater financial flexibility.

📚 Test Your Knowledge:

Which insurance company recently partnered with Policybazaar to launch the 'Smart Invest Pension Plan'?

Correct Answer: PNB MetLife

🚀 Quick Recap: