The MetLife Grameen Ashray Plan is Non-par pure term micro insurance plan that helps you to keep your loved ones safe and secure. The plan is extremely flexible and lucrative and helps you to fulfil the dream of your loved ones. It ensures that fact that they will be taken care of in the event of an unfortunate event. The MetLife Grameen Ashray Plan is a short term protection plan that provides affordable protection for you and your family.
In order to be eligible for the MetLife Grameen Ashray Plan, some criteria set out by PNB MetLife must be met. The eligibility criteria for MetLife Grameen Ashray Plan are given below:
|Type of Plan||Non-participating one-year renewable group protection plan|
|Minimum entry age||18 years|
|Maximum entry age||55 years|
|Maximum cover ceasing age||60 years|
|Cover term||5 years|
|Maximum sum assured||Rs.50,000|
|Minimum sum assured||Rs.5,000|
|Premium paying modes||Annual|
Note – The minimum premium and maximum premium does not include the taxes.
Death Benefit – In the event of the death of the insured, the nominee will get the entire sum assured.
Surrender Benefit – No surrender benefit is available for the regular premium policies.
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 Grameen Ashray Plan. 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.
|Free look provision||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 Grameen Ashray Plan. 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 provisions||The policy can be reinstated within a period of 60 days from the date of lapse or next renewal date, whichever comes before. If a scheme is lapsed it will be reinstated depending on the approval from the Board.|
|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 of 15 days. During this period, The Insurance Certificate will continue to be in force.|
Tax Benefits – All the benefits that are payable under MetLife Grameen Ashray Plan 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. This particular product is extremely flexible and lucrative and helps you to fulfil the dream of your loved ones. It ensures that fact that they will be taken care of in the event of an unfortunate event. The MetLife Grameen Ashray Plan is a short term protection plan that provides affordable protection for you and your family.
A. The MetLife Grameen Ashray plan will be terminated under the following conditions:
A. No, surrender benefit is not available with the MetLife Grameen Ashray Plan.
A. The minimum age at entry must be at least 18 years.
A. The maximum age at entry must be 55 years.
A. The maximum premium for the MetLife Grameen Ashray Plan is Rs.1, 208.
A. The minimum premium for the MetLife Grameen Ashray Plan is Rs.61.
A. The maximum sum assured for this policy is Rs.50, 000.
A. The minimum sum assured for this policy is Rs.5, 000.
A. The maximum coverage term that can be availed with this particular policy is 5 years.
A. No. The maximum premium and the minimum premium do not include taxes.