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Met Life Accidental Disability Benefit Rider

The MetLife Accidental Disability Benefit Rider is a non-linked, non-participating, health rider that offers you freedom from your financial worries in the event of an unforeseen accident. PNB MetLife recognizes that every individual has different needs. They offer immense flexibility so that you can enhance and customise your base policy. The rider benefits can be availed even in case of an accident that occurs during the term of the policy.

Eligibility – Who is the MetLife Accidental Disability Benefit Rider for?

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

Type of rider Non-linked, non-participating, health rider
Minimum age at entry 18 years
Maximum age at entry 65 years
Cover ceasing age 75 years
Term of the policy 10 years to 40 years

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

Sum Assured:

Minimum Rider Sum Assured Rs.500,000
Maximum Rider Sum Assured Rs.2 crore

Premium Range:

Minimum Rider Premium (Annualized) Rs.75
Maximum Rider Premium (Annualized) Rs.3,000
Premium Payment Term Regular premium over the term of the policy
Premium Payment Modes Annually, Semi-annually, Quarterly, Monthly (ECS) and PSP (Payroll Savings Plan)

Plan Coverage – What MetLife Accidental Disability Benefit Rider Covers?

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

  • Loss of use or amputation of both feet above or at ankles.
  • Loss of use or amputation of both hands above or at wrists.
  • Loss of use or amputation of one foot above or at the ankle or one hand above or at the wrist.
  • Irrecoverable or total loss of the eye sight.

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 Disability Benefit Rider 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.

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 No surrender value is applicable for this plan.
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 the MetLife Accidental Disability Benefit Rider. 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. A charge of 9% will be applicable on the policy revivals.

Other Benefits of MetLife Accidental Disability Benefit Rider:

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

Why should you Buy the MetLife Accidental Disability Benefit Rider?

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 Disability Benefit Rider offers you freedom from your financial worries in the event of an unforeseen accident. The rider benefits can be availed even in case of an accident that occurs during the term of the policy.

Frequently Asked Questions (FAQs):

Q. I am 35 years old. Can I apply for the MetLife Accidental Disability Benefit Rider?

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 term of the rider?

The term of the MetLife Accidental Disability Benefit Rider ranges from 10 years to 40 years.

Q. What are the premium payment modes for MetLife Accidental Disability Benefit Rider?

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

Q. What is the maximum sum assured for this rider?

The maximum sum assured for this rider is Rs.2 crore.

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

The minimum sum assured for the MetLife Accidental Disability Benefit Rider is Rs.500, 000.

Q. What the minimum rider premium (annualized) for this rider?

The minimum rider premium (annualized) for this rider is Rs.75

Q. What the maximum rider premium (annualized) for this rider?

The maximum rider premium (annualized) for this rider is Rs.3, 000.

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

The multiplicative factor for the various modes of premium payment are given below:

Premium Payment Modes Multiplicative Factor
Monthly/Payroll Savings Program 0.0886
Quarterly 0.2605
Half Yearly 0.5131

Q. Is there any Surrender Value for this rider?

No, Surrender Value is not applicable with this rider.

Q. What is the cover ceasing age for the MetLife Accidental Disability Benefit Rider?

The cover ceasing age for MetLife Accidental Disability Benefit Rider is 75 years.