MetLife presents ‘Met Mortgage Protector Plus’ – a plan which provides you life cover for home loans taken for any period above 5 years. It is a decreasing term insurance with single and limited premium options. The plan covers you for an amount equal to the outstanding amount as per the policy schedule.
Eligibility –
| Minimum Entry Age | 18 years |
| Maximum Entry Age | 60 years |
| Maximum Maturity Age | 65 years |
| Minimum Sum Assured | Rs. 50,000 |
| Maximum Sum Assured | Equal to the outstanding loan amount |
| Policy Term | Equal to the outstanding payment term of the loan |
| Premium Payment Options | Single Pay, Limited Pay (2/3rd of outstanding loan term) |
| Riders Not available |
|
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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Tags: Life Insurance, Met Life Insurance, Met Mortgage Protector Plus