MetLife India Review

MetLife, Inc is a one of the world’s largest provider of life insurance companies and also offers some of the financial services in the countries like Europe, Asia and United States. This company is in the insurance business from the past 139 years and has been most successful company only due to its successful affiliates. The MetLife insurance generally offers automobile insurance, reinsurance, life insurance and annuities. MetLife also offers retirement solutions for the old people and also is into the business to offer home insurance, banking and group insurance to the corporate sector.. MetLife insurance reaches over 80 million customers throughout the world and has also established a good insurance business in India.
MetLife India Insurance is headquartered in Bangalore since 2002, December and has gained the trust and support of insurance consumers all over India. More than 3 million people have purchased the Met life India policies and are enjoying its benefits.

Products offered by MetLife India

It is totally impossible to predict the life Up’s and downs, but MetLife India makes the best and the better to shield against those high’s and low’s and makes the man’s life simple.

MetLife India offers the following policies-

Accumulation- under this accumulation the following policies are available
1.) Whole life policy- the whole life offers two types of policies gain with it.

• The Met 100 from the whole life of MetLife is where you pay premiums for 15-25 yeas and the sum guaranteed is allocated on death of the insured. The minimum age is zero .i.e. we can start it when the child has been born and the maximum age to be assured is 70.but the minimum sum must and should be assured is Rs. 50,000 and the minimum premium will be 2,500 per year.
• The Met 100 gold partial Pay Whole life participating is a participating, limited pay policy where the policy holder can enjoy the proceeds on deal. The minimum age is 15 years to get assured with the minimum sum to be assured is 50,000 Rs. The annualized premium will be 2,500.

• Endowment policy- MetLife also offers a best and better exclusive Endowment plan which no other company offers. The minimum age for getting assured in this endowment policy is 15 years and the maximum age is 65 years. The minimum assured sum is 50,000 and the max can go up to the limit of 4 lakhs. . However the premium range can differ between 2,156 Rs to 2,900 Rs.

• Money back policy- money back policy is the policy in which the consumer has the benefit of getting back the money returns in case of need, and that too he can get the money through loan from his own account. The minimum amount to be assured is 50,000 and the maximum sum can go up to 6 lakhs. The premium range will start from 2,600 Rs. in case if the consumer takes a loan from his account, the premium range will migrate to slightly higher amount at 2.25% interest on the money taken from the insured amount. The maximum time limit to repay back is 20 years. This plan is beneficial to middle class people and also to the employees who are on the verge of their retirement, as they have the chance to repay back their loan from the gratuity amount they get after retirement.

2.) Multi purpose plan offered by MetLife India is –

• Which has the choice of coverage tenure; choice of premium payment term, choice of premium and Sum guaranteed amounts, choice of investment finances and choice of additional protection options- like accident disability guard benefit and serious illness protection benefits. And reimbursement of Loyalty Additions, capability to change the yearly Premium, Facility of four free switches, higher allotment of your premiums to enhance your wealth formation and facility to invest added premiums over and above your standard premiums. The minimum age for this to get assured is 25 years and the maximum age limit is 68 years the minimum sum assured is 50,000 and the premium range starts from 2000 Rs per annum.
• Met easy- a simplified unit linked plan that provides you the benefit of indemnity protection for your people and the opportunity to methodically build wealth for your key extended term financial milestones like children’s education/marriage and also retirement hassles. The premium range start from 1900 Rs and the minimum age limit are 28 years. Hence, there is no maximum age limit.
• Met smart Plus & Met Smart Premier- these are transparent unit linked plans whole life plans that mature at the age of 100. The premium you pay is used partly for insurance cover and the balance is invested in funds to buy Units. The premium rate for this insurance is 2,900Rs and 3,600 Rs respectively.

3.) Protection-

Protection plans, as the name itself suggests, protects your esteemed ones against liabilities that might be left out, should something adverse happen to you. Protection plans in MetLife India include

• Met suraksha-TROP, which is a non – participating term assurance plan, offering a cover for a large sum assured at rates that are very economical. The minimum age is 25 years for the amount of 6 lakhs. The premium range starts from 3,000 Rs.
• Met suraksha- TA- this plans offers a non participating term assurance plan, which offers cover for a large extent of sum and at the rates of 2000Rs of premium which are very economical

4.) Retirement-

• Retirement is a crucial period in every person life. The sudden change in financial lifestyle of a man and women can become crucial in some stages. So MetLife India offers two plans
• Met pension and Met advantage plus. These tow plans are very advantageous and have six investment options and eight annuity options and also the premium range starts at very low price of just 1600 Rs. these plans are more illustrated by a common example.
• Mr. Naveen is a 27 years old man working in an IT company in Hyderabad having an annual taxable Income of 6 Lakhs. He buys a Met pension policy with a sum assured of Rs. 5, 00,000. He chooses a vesting age of 55 years. This vesting age would be the age when the annuity would start. The total premiums paid would be Rs. 18,550.

Guaranteed

Illustrated returns at the rate of 3%

Illustrated returns at 6%

5.) Add ons

• At MetLife India, the consumers are given the uppermost out of their lives. The MetLife offers the add ons like choice of rider which are optional contracts that allow you to enjoy additional benefits. Each stipulation comes with its own premium rates and separate policy conditions. The premium, nature and characteristics of the rider are based on the base policy to which the rider is attached.
• The riders which can be selected are

1. accidental death benefit

2. term rider
3. waiver of premium
4. critical illness

Tags: Insurance review, Metlife

This entry was posted on Thursday, March 6th, 2008 at 2:30 pm and is filed under Insurance Company Review. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.