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  • Met Life Accidental Death Benefit Rider Plus

    Life Insurance
    • Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
    • Claim up to Rs. 1,50,000 deduction under section 80C**
    • Choose between annual and monthly premium payment options

    The MetLife Accidental Death Benefit Rider Plus is a non-linked, health insurance rider that allows you to enhance the life insurance cover you have and be extra sure about protection. With this rider, you can customize the life insurance scheme with additional benefits and features. The MetLife Accidental Death Benefit Rider Plus can be availed by a policyholder either at the start of the policy term or at any policy anniversary during the tenure of the policy.

    Eligibility – Who is the MetLife Accidental Death Benefit Rider Plus for?

    In order to be eligible for the MetLife Accidental Death Benefit Rider Plus, some criteria set out by PNB MetLife must be met. The eligibility criteria for MetLife Accidental Death Benefit Rider Plus Plan are given below:

    Type of rider Non-linked, health insurance rider
    Minimum age at entry 18 years
    Maximum age at entry 65 years
    Cover ceasing age 70 years
    Term of the policy 5 years to 30 years (40 years if the application is done online)

    Sum Assured and Premium Range – What do you Get and What it Costs?

    Sum Assured:

    Premium Payment Options Regular Pay 10 Pay 5 Pay Single
    Maximum Rider Sum Assured Rs.1 crore (Rs.2 crore if the application is done online) Rs.1 crore (Rs.2 crore if the application is done online) Rs.1 crore (Rs.2 crore if the application is done online) Rs.1 crore (Rs.2 crore if the application is done online)
    Minimum Rider Sum Assured Rs.1,50,000 (Rs.5 lakh if the application is done online) Rs.1,50,000 (Rs.5 lakh if the application is done online) Rs.1,50,000 (Rs.5 lakh if the application is done online) Rs.1,50,000 (Rs.5 lakh if the application is done online)

    Premium Range:

    Premium Payment Options Regular Pay 10 Pay 5 Pay Single
    Maximum Annualized Rider Premium Rs.10,476 Rs.23,747 Rs.42,432 Rs.2,48,724
    Minimum Annualized Rider Premium Rs.37.50 Rs.60 Rs.285 Rs.465
    Premium Payment Option Monthly (ECS), Quarterly, Half-Yearly, Yearly, Single and Payroll Savings Program Monthly (ECS), Quarterly, Half-Yearly, Yearly, Single and Payroll Savings Program Monthly (ECS), Quarterly, Half-Yearly, Yearly, Single and Payroll Savings Program Monthly (ECS), Quarterly, Half-Yearly, Yearly, Single and Payroll Savings Program

    Plan Coverage – What the MetLife Accidental Death Benefit Rider Plus Covers?

     

    The MetLife Accidental Death Benefit Rider Plus offers coverage for the following cases:

    • If the policyholder dies due to an accident that occurred during the term of the policy, the entire Rider Sum Assured will be given.
    • The death of the MetLife Accidental Death Benefit Rider Plus rider holder should occur within a period of 180 days from the accident.

    Exclusions – What the Rider doesn’t Cover?

    Suicide clause:

    If the insured individual commits, whether insane or sane at that point, within a year from the commencement date of the insurance cover or the policy issue date or the reinstatement date, the insurance policy will stand void. The insurer will not pay any benefit that is payable under MetLife Accidental Disability Benefit Rider. The company will only return the premiums that it received without any interest. If stamp charges are applicable, it will be deducted from the amount being refunded.

    Some of the other exclusions for MetLife Accidental Death Benefit Rider Plus are as follows:

    • Use of alcohol, intoxicating drugs, solvents expect taking of drugs that are prescribed by a qualified doctor.
    • Nuclear accident causing radioactive contamination.
    • Civil commotions, war, invasion, breach of law, hostilities, revolution, rebellion, willful participation in violent acts, etc.
    • Participation of the policyholder in a flying activity except as a fare paying passenger, bonafide, cabin crew or pilot.
    • All infections except the ones that are gynogenic, for the first 48 months of the policy term.
    • Participation of the policyholder in hazardous pursuits and professional sports like diving, riding, under water activities, bunjee jumping, parachuting, etc.

    Other Key Features:

    Grace Period All premiums must be paid on the due date. The grace period that is allowed is a span of 30 days. It is applicable for yearly, half-yearly and quarterly frequencies. For monthly frequencies, the grace period is for 15 days. During this period, The Insurance Certificate will continue to be in force.
    Surrender Value The surrender value on the MetLife Accidental Death Benefit Rider Plus will be payable if premiums have been paid for 2 years for a term less than 10 years. In case of term equal to or more than 10 years, the premiums must be paid for at least a period of 3 years.
    Free Look Period You can enjoy a period of 15 days from the date you get the policy document for reviewing the terms and conditions of MetLife Accidental Death Benefit Rider Plus. In case you do not like the things mentioned under the terms and conditions section, you can choose to return the policy. You must provide reasons why you are not taking the policy. The mortality charges and contributions will be refunded to you. However, proportionate risk premium and stamp duty will be deducted. All rights of the policyholder will stand extinguished after the cancellation of the policy.
    Reinstatement The policy can be reinstated within a period of 2 years from the date of first unpaid premium. If a scheme is lapsed it will be reinstated depending on the approval from the Board.

    Other Benefits of MetLife Accidental Death Benefit Rider Plus:

    Tax Benefits – All the benefits that are payable under MetLife Accidental Death Benefit Rider Plus are subject to applicable tax laws and regulations. The benefits may change as per the tax laws.

    Why should you Buy the MetLife Accidental Death Benefit Rider Plus?

    PNB MetLife has more than 800 clients all over the country who use the insurance solutions offered by them. They have been catering to all the insurance needs of the people in India since 2001. The MetLife Accidental Death Benefit Rider Plus allows you to enhance the life insurance cover you have and be extra sure about protection. With this rider, you can customize the life insurance scheme with additional benefits and features. The MetLife Accidental Death Benefit Rider Plus can be availed by a policyholder either at the start of the policy term or at any policy anniversary during the tenure of the policy.

    Frequently Asked Questions (FAQs):

    Q. I am 42 years old. Can I apply for the MetLife Accidental Death Benefit Rider Plus?

    A. Yes, you can apply for this rider. Anyone above the age of 18 years can apply for the rider. The maximum age at which you can apply for the MetLife Accidental Disability Benefit rider is 65 years.

    Q. What is the policy term of the MetLife Accidental Death Benefit Rider Plus?

    A. The policy term for MetLife Accidental Death Benefit Rider Plus ranges between 5 years and 30 years. However, you can avail a term of 40 years provided you apply online for the MetLife Accidental Death Benefit Rider Plus.

    Q. What payment modes can I avail for the premiums?

    A. The premiums of the MetLife Accidental Death Benefit Rider Plus can be paid in annual, Semi-annual, Quarterly, Monthly (ECS), Single and PSP (Payroll Savings Plan) modes.

    Q. What is the maximum sum assured for the MetLife Accidental Death Benefit Rider Plus?

    A. The maximum rider sum assured is an Rs.1 crore for the MetLife Accidental Death Benefit Rider Plus. However, if the application for this rider is done online, then the maximum rider sum assured can go up to Rs.2 crore. This is applicable for Single, Regular Pay, 10 Pay and 5 Pay.

    Q. What is the minimum sum assured for the MetLife Accidental Death Benefit Rider Plus?

    A. The minimum rider sum assured is an Rs.1.50, 000 for the MetLife Accidental Death Benefit Rider Plus. However, if the application for this rider is done online, then the minimum rider sum assured can go up to Rs.5 lakh. This is applicable for Single, Regular Pay, 10 Pay and 5 Pay.

    Q. What is the minimum rider premium for the MetLife Accidental Death Benefit Rider Plus?

    A. The minimum rider premium for MetLife Accidental Death Benefit Rider Plus is given below:

    • Rs.37.50 for Regular Pay
    • Rs.60 for 10 Pay
    • Rs.285 for 5 Pay
    • Rs.465 for Single Pay

    Q. What is the maximum rider premium for the MetLife Accidental Death Benefit Rider Plus?

    A. The maximum rider premium for MetLife Accidental Death Benefit Rider Plus is given below:

    • Rs.10.476 for Regular Pay
    • Rs.23,747 for 10 Pay
    • Rs.42,432 for 5 Pay
    • Rs.2,48,274 for Single Pay

    Q. What is the multiplicative factor for monthly, quarterly, half-yearly and payroll savings modes?

    A. The multiplicative factors for monthly, quarterly, semi-annually and payroll savings modes are provided below:

    Premium Mode Multiplicative Factor
    Monthly ECS 0.0886
    Quarterly 0.2605
    Semi-annual 0.5131
    Payroll Savings Program 0.0886

    Q. Will there be any Surrender Value if I surrender the policy?

    A. The surrender value on the MetLife Accidental Death Benefit Rider Plus will be payable if premiums have been paid for 2 years for a term less than 10 years. In case of term equal to or more than 10 years, the premiums must be paid for at least a period of 3 years.

    Q. What are the different premium paying options for MetLife Accidental Death Benefit Rider Plus?

    A. The different premium paying options for MetLife Accidental Death Benefit Rider Plus are Single, Regular Pay, 5 Pay and 10 Pay.