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.
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|
|Minimum Rider Sum Assured||Rs.500,000|
|Maximum Rider Sum Assured||Rs.2 crore|
|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)|
The MetLife Accidental Disability Benefit Rider offers coverage for the following cases:
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:
|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.|
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.
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.
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.
The term of the MetLife Accidental Disability Benefit Rider ranges from 10 years to 40 years.
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.
The maximum sum assured for this rider is Rs.2 crore.
The minimum sum assured for the MetLife Accidental Disability Benefit Rider is Rs.500, 000.
The minimum rider premium (annualized) for this rider is Rs.75
The maximum rider premium (annualized) for this rider is Rs.3, 000.
The multiplicative factor for the various modes of premium payment are given below:
|Premium Payment Modes||Multiplicative Factor|
|Monthly/Payroll Savings Program||0.0886|
No, Surrender Value is not applicable with this rider.
The cover ceasing age for MetLife Accidental Disability Benefit Rider is 75 years.