Met life Life insurance Review
Life insurance of Met Life Life insurance company is one of the insurance providers showing fast growth. They offer policies designed to meet various needs of the customers. The services range from regular term insurance plans offering simple and pure life cover to plans such as term plan that has return of premium plan. In this the investors get the premiums returned once their policy matures. They also have group insurance plans taken as a group by companies.
MetLife Life insurance requirements include:
- Minimum age 25 years old
- Maximum age less than 60 years old
- Should be self-employed, salaried, own business or a professional.
Maximum tenure is 20 years and the sum assured is Rs. 9 lakh as minimum and Rs.1.5 crore as Maximum sum assured. The exclusions for the MetLife Life insurance is if the person commits suicide within the initial one year or 12 months.
- Age proof
- Identity proof
- Address proof
- Income proof
- Pan number
MetLife Family Income Protector Plus is a term plan offering the policyholders the maturity benefit of receiving 110% of the premiums back as the policy matures and also a death benefit to the beneficiary as a monthly income. The monthly income ranges from Rs. 10,000 to Rs. 100,000.
Monthly income plans represent policies that that ascertain that even in your absence, your family receives a steady income to fulfill their needs.
The plans offered by MetLife Life insurance include:
- MetLife Monthly Income Plan: In this plan, the investors receive a monthly income for 15 years. They can receive bonuses on their investment and this may be taken as a lump sum or can also be added to the monthly income.
- Money Back Plans: These are designed such that the investors get something in return. Here the insurer gives monetary benefits after the policy is in effect after a certain period.
- MetLife Money Back Plan: In this scheme, an investor receives the sum assured as 10% every year right from the 5th year to his 9th year after taking this policy. In the 10th year, 60% of the sum assured is received by the investor as maturity benefits.
In case, you are planning to take an insurance plan that is also an investment, you may consider a ULIP or a Unit Linked Insurance Plan. The ULIP plans of MetLife Life insurance are:
- Met Smart Platinum: This is a unit-linked policy that matures at the age of 99 years of the policyholder. The maturity benefit is the value of the funds at the maturity time.
- Met Easy Super: This ULIP offers life insurance cover and also assists in amassing more wealth. Maturity benefits are the total fund value at the maturity time. These benefits can be taken later or at the maturity time.
- Met Dhan Samriddhi : This Ulip policy is for a period of 10 years and it offers the policyholders the option of taking lump sum maturity or in structured payments.
- Met Smart One: This can be taken for 10 to 20 years and may also be in the name of children, even as young as 3 months.
Child Plan Plans
With the increase in the education cost, it is essential to secure the future of your child with the Met Life insurance plans:
- Met Smart Child: A plan to secure your child’s future. The beneficiary must be between 3 months and 17 years old. The maturity benefits are the fund value at the maturity and certain loyalty additions.
- Met College Plan: This is a plan offering 3 benefits in case of the insured’s death to the beneficiary. It offers the sum assured, waiver of future premium payments and the survival benefits of the policy.
- Met Endowment Savings: This offers policyholders tax benefits and returns. It gives life insurance cover up to Rs. 5 crore.
- MetLife Bachat Yojana : This offers affordable premiums. It also provides simple reversionary and terminal bonuses.
- MetLife Bhavishya Plus-This is a deferred endowment plan that is non-linked and can be taken for 12-24 years. The policy comes with death benefits, maturity accompanying simple reversionary and terminal bonuses of life insurance.
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