MetLife Dhan Samriddhi

What are the Key Features?

What are the Fund Investment Options?

This policy offers following 6 investment funds, you can invest with as per your investment objectives.

The investment proportion for any chosen fund should be at least 20%.

What are the Plan benefits?

In the event of your (life insured) death during the policy term, the nominee will receive the death benefit, which is higher of sum assured less partial withdrawals*, single premium fund value, or 105% of the single premium paid.

*Sum assured payable on death (before 60 years of age) is reduced to partial withdrawals done in the previous two years. Sum assured payable on death (after attaining 60 years of age) is reduced to partial withdrawals done after 60 years of age.

Fund value is payable as maturity benefit under the policy. You have an option to receive the maturity benefit as a lump sum or structured payments with help of the settlement option facility. After receiving the maturity benefit as a lump sum, the policy gets terminated.

With the help of Settlement Option, you can choose to receive the maturity benefit in installments over a period of 5 years following the date of maturity of the policy. During this payout period, your fund value will continue to invest with unit linked funds as opted by you.

Loyalty Additions is 0.5% of the average single premium fund value, when the single premium amount is Rs 10 Lacs or more. It is payable at maturity of the policy. Loyalty Additions are not payable, when the single premium amount is less than Rs 10 Lacs.

You have the option to withdraw money from the fund value, after five years from the commencement of the policy. The minimum withdrawal amount is Rs 5,000 and the balance fund value after making withdrawal should be at least Rs 50,000.

No charges for switching when done online. When switching is done other than online, first 4 switches are free of charge.

No loan benefit is applicable under this plan.

You can surrender your plan after completion of 5 years from inception of the policy. No charge towards surrendering the policy is payable, as it is adjusted to the partial withdrawal made by you.

Who can Buy the Rider?

Is any Rider Available with this Plan?

No riders are available with this plan.

What are the Plan Charges?

Premium Allocation Charge: Premium Allocation Charge is 3.5% for single premium and it is deducted from the premiums you pay.

Policy Administration Charge: Rs 100 per month is deducted as policy administration charge at the beginning of every month. Policy administration charge is subject to a maximum of Rs 200 per month.

Fund Management Charge: It is 1.25% per annum for Multiplier II, Virtue II and Flexi Cap funds, 1.15% per annum for Balancer II fund, 1% per annum for Preserver II and Protector II fund. Fund management charge is a percentage of the value of assets under the unit account and it is adjusted while computing the Net Asset Value (NAV) of the funds. Fund management charge is subject to a maximum of 1.35% per annum.

Mortality Charge: Mortality charge is deducted at the beginning of every month by cancelling units from the fund value. It is based on the age of the insured, cost of insurance and applicable sum assured.

Partial Withdrawal Charge: Twelve partial withdrawals in the same policy year do not attract any charge and then, each of the subsequent withdrawals in a policy year is charged with Rs 250.

Switching Charge: First 4 switches are free of charge and then, Rs 250 per switch is charged for opting more switches.

Miscellaneous Charge: Rs 250 is charged for additional request such as change in name, contact details, communication address, etc.

Is the Plan, eligible for Tax Benefit?

This policy provides tax benefits under section 80C towards the premiums paid and the policy proceeds can avail tax benefits under section 10 (10D) of the Income Tax Act, subject to amendments from time to time.

How the Plan Works?

Let us understand the plan with the help of Raman’s example.

Raman at 35 years of age opts for MetLife Dhan Samriddhi by investing single premium of Rs 2,00,000. He opts this plan to ensure a happier future of his family.

Scenario 1: Raman Survives the Policy Term

If Raman survives till the end of the policy term, the maturity benefit equal to the fund value is payable. The returns of your investment may vary depending on the performance of the fund(s), you have invested with.

Scenario 2: Raman dies during the Policy Term

In case of demise of Raman during the policy term, the sum assured of Rs 20,00,000 (equal to 10 times of single premium) is payable to the nominee/family.

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