Private life insurer PNB MetLife India Insurance has introduced a non-participating product, PMLI Small Cap Fund, a Unit Linked Insurance Plan (ULIP) that allows policyholders to invest in a diversified equity portfolio with a focus on small-cap companies. The ULIP combines life insurance with investment, where a portion of the premiums provides life insurance coverage, and the remainder is invested in various equity and debt instruments based on the policyholder’s risk appetite. The new fund will be available at a unit price of Rs 10 during the New Fund Offer (NFO) period from February 19, 2024, to February 29, 2024.