Features

Product Benefits –

Survival Benefits

On completion of 10 Policy Year till the policy maturity, subject to the Policy being in-force, you get.
Enhanced monthly regular income = Guaranteed monthly income chosen at the inception + (Accrued bonuses at the end of the 10th policy year / (Benefit Payout Period*12))}.

The monthly regular income commences from the monthly anniversary date that immediately succeeds the completion of the 10th Policy Year (i.e. completion of one month immediately after the completion of 10th policy year.

Also, you will get cash bonuses (if any) from 11th policy year till the policy term ends.

In case of the death of the Person Insured while receiving the Survival Benefit, the Enhanced Monthly Income will continue to be paid to the nominee till the maturity date.

Maturity Benefit

On attaining the maturity age, subject to the Policy being in-force, you will receive the last the Terminal Bonus, if any. This will be payable along with the final installment of the monthly regular income.

Simple Reversionary Bonus

The policy will be eligible for Simple Reversionary Bonuses on completion of three policy years and the declared bonus will be credited at the end of the policy year immediately following the date of declaration of bonus provided all the due premiums have been paid. The declaration of Simple Reversionary Bonus depends on the experience of the Company. The Simple Reversionary Bonus once declared stands attached to the policy benefits till the end of the 10th Policy Year. The reversionary bonuses accrued at the end of 10th Policy Year is amortised over the Benefit Payout Period and added to the monthly income chosen at inception. This forms the Enhanced Monthly Income as described above. The first payment of the Enhanced Monthly Income will commence from the monthly anniversary following the completion of the 10th Policy Year. Simple Reversionary Bonus will not accrue for lapsed policies.

Cash Bonus

Your policy will be eligible for Cash Bonus on completion of 10 Policy years and the declared bonus will be paid within 9 months following the completion of each financial year. No Cash Bonus will be paid for lapsed policies.

Terminal Bonus

The Company may also declare a Terminal Bonus at the time of Policy maturity or at the time of payment of last monthly income payment (in case of death claim, provided all due premiums have been paid. The Terminal Bonus is payable only after payment of last monthly regular income payment and the same is not guaranteed.

Death Benefit

In the unfortunate event of death of the Person Insured while the policy is in force, the nominee/beneficiary will receive:-

a) If the Death of the Person Insured occurs before the 10th Policy Anniversary:

24 times the Monthly Income under the policy plus all the accrued Simple Reversionary Bonuses will be paid immediately on death, as a lump sum. Monthly Income chosen at the inception will commence from the first monthly anniversary falling immediately after the date of the death and continue to be paid to the nominee for the next 10/15/20 years as chosen by the Policyholder. The Simple Reversionary Bonuses accrued after the death will be paid in lump sum at the end of the 10th policy Year The policy will also be eligible for cash bonuses which may be declared after the completion of 10th Policy Year.
The policy terminates with the disbursement of the last Monthly Income payout, along with the payment of Terminal Bonus, if any.

b) If the Death of the Person Insured occurs after the 10th Policy Anniversary:

24 times the Monthly Income under the policy will be paid immediately on death, as a lump sum. In addition the nominee will continue to receive the revised Monthly Income being under payment under the Policy till maturity. On maturity, the nominee will receive the Terminal Bonus declared, (if any), along with the final installment of Monthly Income. The policy will also be eligible for cash bonuses which may be declared after the completion of 10th Policy Year.

The maximum period for which Monthly Income is payable is 120/180/240 months from the commencement of first Monthly Income payment – in case the Benefit Payout Period chosen is 10/15/20 years respectively.

Note: The Terminal Bonus (if any) will be payable along with the final installment of monthly regular income. In case of death of the beneficiary / nominee during these guaranteed monthly regular income payments period, the due payments will be made to the legal heir. On death of the Insured, no further premiums will be payable by the beneficiary. Also, the participation in bonuses will be over and above the defined monthly payouts.

Reason to buy - 

1) Pay for 5/7 years to get Guaranteed* Monthly Retirement Income for upto 20 years from 11th year onwards

2) Your Guaranteed Monthly Retirement Income commences from Year 11 which is enhanced by the additional payouts* to boost your income.

3) Tax savings on buying along with Tax# free Monthly Income

4) Immediate lump sum paid in case of an unforeseen event of death while guaranteed monthly income continues as planned for your family irrespective of the number of premium paid

*Conditions Apply

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Features:

• Provides permanent life insurance coverage
• Traditional guarantees on premium, cash value and death benefit,
• Offers the new, optional Flex Term Rider with a competitive premium and
• Innovative rider death benefit guaranteed to age 85.

Product description:

MetLife Promise Whole Life insurance is a permanent life insurance policy that offers lifetime protection, as long as the policy remains in-force, and is an attractive protection tool for those looking for guaranteed level premiums, guaranteed cash value and guaranteed death benefits. The policy also features annual non-guaranteed dividend payments, which, if paid, may increase the cash value and death benefit of the policy over time.

MetLife Promise Whole Life optional riders include:

• Flex Term Rider – this optional rider offers policyholders additional premium flexibility. The Flex Term Rider allows policyholders to purchase a combination of base whole life protection along with additional coverage that starts out in the form of term protection. The rider allows the term portion to be gradually replaced over time to paid-up whole life protection. If premium payments are made as planned, the policyholder will receive any dividend payments that are paid, which can further enhance the rider’s values. Policyholders who purchase this rider are guaranteed coverage until the insured is age 85 as long as the required premium is paid each year, even if the term costs increase or if dividends decrease.
• The Enricher – this optional paid-up additions insurance rider allows the policyholder to pay additional premiums, if desired (subject to rider limits). It includes premium payment duration to age 100, and a premium load of 5%.
• Several other optional riders are available including Disability Waiver, Accidental Death Benefit, Acceleration of Death Benefits, Children’s Term, Applicant’s Waiver of Premium and a Guaranteed Issue Rider.

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Eligibility –

Product Benefits –

Death Benefit
Met Suvidha – Par
In the event of death throughout the term of the policy, the beneficiary will receive the base Sum Assured, the accrued reversionary bonus and terminal bonus if any.

Maturity Benefit
Met Suvidha – Par
On maturity of the policy, you will receive the base Sum Assured, the accrued reversionary bonus and terminal bonus if any.

Bonuses
Bonuses are available only on participating policies. The bonuses are not guaranteed as they are based on the Company’s actual investment returns, persistency and expense experience. No bonus is payable for the first 2 years of the policy.

Reasons to Buy –

1. It is an Endowment plan that offers both savings and life insurance.

2. Flexible premium paying options to suit various income cycles.

3. A plan which participates in the bonuses declared by the company.

4. Customization possible with Accident Death Benefit, Critical Illness, Term, Waiver of Premium Riders for comprehensive protection.

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Eligibility –

Product Benefits –

Death Benefit
In the event of death of the Person Insured the Sum Assured is payable.

Maturity Benefit
On surviving the Coverage Term, you receive:
1. 110% of the single premium paid for a 5 year coverage term.
2. 125% of the single premium paid for a 10 year coverage term.

Guaranteed Surrender Value
In case of any emergency, should you need to surrender your policy early, you will get surrender benefits as per table below:

The policy terminates upon the payment of surrender value.

Reasons to Buy –

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A Monthly Income Plan that guarantees income to add to your income every month. Because these days growing needs demand more than one income.

Eligibility –

Product Benefits –

Survival Benefits
You get a monthly regular income that you have chosen at the beginning of the policy for 8 years (Maximum of 96 months) after the end of the Premium Payment Term. The monthly regular income commences from the monthly anniversary date that immediately succeeds the completion of the Premium Payment Term.

Maturity Benefit
On attaining the maturity age you will receive the accrued Simple Reversionary Bonuses along with the Terminal Bonus, if any.

Bonus
The policy will participate in the profit by way of Simple Reversionary Bonuses on completion of 3 years. The declared bonus will be credited on each policy anniversary happening immediately after the date of declaration of bonus provided all the due premiums have been paid.

The Simple Reversionary Bonus will not accrue once the death claim is settled and for the lapsed policies. The Company may also declare a Terminal Bonus as a percentage of the accrued Simple Reversionary Bonus.

Death Benefit
In case of ill-timed death during the term of the Policy, your family will immediately get a guaranteed sum equal to 24 times the chosen monthly income. In addition to this, all accrued bonuses (non guaranteed) till date will also be paid to the nominee.

In addition to the above lump sum, your family will continue getting the guaranteed monthly income as scheduled. If the monthly regular income has not commenced, the same will start from the first monthly anniversary following the date of the death and shall be paid for the next 96 months to your nominee.

Reasons to Buy –

1. Get chosen Guaranteed Regular Monthly Income for 8 years i.e., 96 months.

2. You will get accrued bonuses as a lump sum at maturity of the plan, if any.

3. In addition to the death benefit your family will continue to get guaranteed monthly income as scheduled.

4. Tax benefits on both the amount invested and the benefits received under Section 80C and Section 10 (10)D.

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Eligibility –

Product Benefits –

Death Benefit

In the ill-timed event of your death your nominee/beneficiary will receive:-

1. During the Premium Payment Term – 25% of the Base Sum Assured plus all accrued simple reversionary bonuses is payable instantly. The monthly regular income also starts from the first monthly anniversary falling after the date of death and continues to be paid to the nominee/beneficiary for the next 15 years. At the end of 15 years from the date of first monthly regular income payment, the policy ceases with payment of “Terminal Bonus”, if any.

2. After the Premium Payment Term – 25(%) per cent of the Base Sum Assured plus all accrued simple reversionary bonuses is payable immediately. The monthly regular income to the nominee/beneficiary continues for the remaining term till maturity. At the maturity date as chosen at inception, the policy ceases with payment of “Terminal Bonus”, if any.

NOTE: In case of death of the beneficiary/nominee during these guaranteed monthly regular income payments period, the same will be made to the legal heir.

Survival Benefits
You get a monthly regular income that you have chosen at the inception of the policy for 15 years after the end of the Premium Payment Term. The monthly regular income commences from the monthly anniversary date that immediately succeeds the completion of the Premium Payment Term.

Maturity Benefit
On attaining the maturity age you will receive the accrued Simple Reversionary Bonuses along with the Terminal Bonus, if any.

A word about Bonuses

Simple Reversionary Bonus
The policy will participate for Simple Reversionary Bonuses on completion of 3 years and the declared bonus will be credited on each policy anniversary occurring immediately after the date of declaration of bonus provided all the due premiums have been paid.

Simple Reversionary Bonus is declared by the Company starting from year 3 onwards based on the Company’s experience and this is not guaranteed. Simple Reversionary Bonus is payable on death of the life insured or on maturity whichever is earlier. The Simple Reversionary Bonus will not accrue once the death claim is settled and for the lapsed policies.

Terminal Bonus
The Company may also declare a Terminal Bonus as a percentage of the accrued Simple Reversionary Bonus. The Terminal Bonus is payable only after payment of last monthly regular income payment and the same is not guaranteed.

Reasons to Buy -

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Family means spouse and two children. Every additional family member shall be underwritten as per the underwriting conditions laid by the Company from time to time.

What is Met Health Care?

Met Health Care is a long term health insurance plan from MetLife. This plan covers you

1. Against Hospitalization expenses by providing you a Daily Cash benefit as chosen by you.
2. Against 10 major Critical Illnesses by providing you a lump sum benefit.
3. Against Total & Permanent Disability due to accident by providing you a lump sum benefit.

Further, all the above benefits can be availed without the hassle of undergo any medical examination. Just fill up the simple application form and start enjoying the unmatched benefits of Met Health Care.

Eligibility –

Product Benefits –

Death/Maturity Benefit

There is no Death/Maturity Benefit under Met Health Care.

Tax Benefits

The premium paid (excluding the service tax) under this plan is eligible for Tax Benefits under Section 80 D of the Income Tax Act, 1961 as per the provisions and conditions given therein and are subject to any changes made in the tax laws in future.

Reasons to Buy –

1. Coverage for the entire family.

2. No Claim Discounts.

3. Guaranteed Cover till age 65.

4. Payouts in addition to other Insurance Plans.

5. Multiple Claims.

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Eligibility –

Product Benefits –

Death Benefit
In the event of death of the Person Insured, the Sum Assured is payable.

Maturity Benefit
There is no Maturity benefits available under this plan.

Reasons to Buy –

1. Low cost, low risk insurance plan.

2. Option of different premium paying modes to suit various income cycles.

3. Tax Benefits as applicable.

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Eligibility –

Product Benefits –

Death Benefit
In the ill-timed event of death of the Life Insured, the outstanding loan amount is payable to the beneficiary.

Maturity Benefit
Not applicable.

Reasons to Buy –

1. It protects the family against the burden of a loan.

2. It is an affordable insurance plan that covers the risk of life.

3. It provides protection for all kind of loans taken for a period above 5 years.

4. Liimited and Single premium paying terms.

5. Tax Benefits as applicable.

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Eligibility –

Product Benefits –

Death Benefit
In the event of death of the Person Insured, the Sum Assured is payable.

Maturity Benefit
On maturity of the policy, you receive the total of all premiums plus the Guaranteed Additions. The Guaranteed Additions are equal to 10(%) per cent of premiums (including policy fee) paid (and excluding extra premiums and rider premiums if any).

Reasons to Buy –

1. Low cost, low risk insurance plan.

2. Choice of a level term plan with or without return of premium.

3. Guaranteed returns of 10% of premium (including policy fee) paid (excluding extra premiums and rider premiums, if any) along with return of premium option of Met Suraksha.

4. Option of different premium paying modes to suit various income cycles.

5. Tax Benefits as applicable.

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