Suitability
The plan is suitable for those who
- Want money back at regular intervals
- Want to grow savings
- Want the protection of insurance
- Want tax advantages
Salient Features
- A money back policy where lump sum amounts are paid to the life assured at periodic intervals on survival
- Premiums cease on death or on expiry of term whichever is earlier.
- This plan can be availed for terms 20 years.
- The plan is a Non Participating one and hence all Premium rates, Sum Assured, Surrender Values and Paid up Values are guaranteed upfront.
- Provided the policy is in full force, a guaranteed addition of Rs.100.00 per Rs.1, 000 of Face Amount will be added to the Face Amount at the end of each policy anniversary and will be payable either on the date of maturity or on earlier death of the Life Insured
- If premiums have been paid for at least 3 years then the Policy acquires a Guaranteed Surrender Value, which can be surrendered for cash for its full Guaranteed Surrender Value.
- The policyholder has the option of converting the policy into a paid-up policy whereby the policy can be kept in force by reducing the face amount in accordance with the premiums paid.
- The Premium modes available are: Annual, Semi-Annual, Quarterly, Monthly and Payroll Savings Program (PSP).
Benefits
On Survival
| Term | At the end of | Amount of money back | For Example, on a Rs. 1,00,000 policy |
| 20 years | 5th year | 20% of sum assured | Rs. 20,000/- |
| 10th year | 20% of sum assured | Rs. 20,000/- | |
| 15th year | 20% of sum assured | Rs. 20,000/- | |
| 20th year | 40% Plus accrued guaranteed additions | Rs. 2,40,000/- |
On Death
- During the Term of the plan, Nominee / Beneficiary shall receive the Guaranteed Sum Assured plus accrued guaranteed additions
Additional Riders
On Payment of additional premiums any one or more of the following riders can be added to this Policy.
- Accidental Death Benefit Rider
- Term Rider
- Waiver of Premium Rider
- Critical Illness Rider
Other Conditions
- Minimum Entry age: Age 15 last birthday.
- Maximum Entry age: Age 55 last birthday.
- Minimum Face Amount: Rs. 75,000.
- Maximum Face Amount: No Limit
- Minimum premium Amount: Annualized premium of Rs. 8,000 (not inclusive of the Rider Premium)
Exclusions
- In the event the Insured commits suicide, whether sane or insane at that time, within one year from the effective date of insurance cover or the date of the Policy or the date of the last reinstatement whichever is later, the benefit is restricted to the extent of refunding the premium(s) received without interest, if any, less any expenses incurred by us.
Indicative Premium (These are just indicative, please refer to our Premium calculator or contact our FA to get the exact rates.)
| Face Amount: Rs 5,00,000 | |||
| MET Sukh | |||
| Age/Term | 20 | ||
| 25 | 49380 | ||
| 35 | 49915 | ||
| 45 | 51635 | ||
Mr Vijay is aged 29 and works in a real estate company as a manager. He buys a Met Sukh policy for a face amount of Rs 3,00,000 to fund periodic expenses incurring in his life over the next 20 years - like his child’s education, house and marriage expenses of his daughter. Mr. Vijay also opts for an additional critical illness rider of 2,00,000.
Annual Premium for the base policy Rs 29880
Premium for Critical illness rider Rs 628
Annual Premiums paid by Mr Vijay Rs 30508
For this premium, Mr.Vijay gets to enjoy periodical returns as money back. Please find the amounts below indicative of the amounts Mr.Vijay gets in 5-year gaps.
Age 34 60000
Age 39 60000
Age 44 60000
Age 49 720000*
* includes the Guaranteed additions of Rs 100 per Rs 1000 of sum assured
Apart from the periodical money-back returns, his wife will receive a sum assured of Rs.3,00,000 and accrued guranteed additions, should the unfortunate happen during policy tem. And during the term of the policy, if Mr.Vijay contacts any of the insured c
Thanks & Regards
Read :
1.Is it worth covering your life?
--~--~---------~--~----~------------~-------~--~----~
Safe Harbor:
The information contained and provided on this Website provides Investment advice for the education of investors. The posts are an information service only. Recommendations, opinions or suggestions are given with the understanding that readers acting on this information assume all risks involved. We do not assume any responsibility or liability resulting from the use of such information, judgment and opinions for Trading or Investment purposes.
You received this message because you are subscribed to the Google Groups "Investors Please Listen !" group.
To post to this group, send email to investorspleaselisten@googlegroups.com
To unsubscribe from this group, send email to
investorspleaselisten+unsubscribe@googlegroups.com For more options, visit this group at http://groups.google.com/group/investorspleaselisten?hl=en
-~----------~----~----~----~------~----~------~--~---
No comments:
Post a Comment