Met Life Grameen Ashrya Plan

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.

Eligibility – Who is the MetLife Grameen Ashray Plan for?

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

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

Sum assured:

Maximum sum assured	Rs.50,000
Minimum sum assured	Rs.5,000

Premium Range:

Maximum premium	Rs.1,208
Minimum premium	Rs.61
Premium paying modes	Annual

Note – The minimum premium and maximum premium does not include the taxes.

Plan Coverage – What the MetLife Grameen Ashray Plan Covers?

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.

Exclusions – What the Plan 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 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.

Other Key Features:

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.

Other Benefits of MetLife Grameen Ashray Plan:

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.

Why should you Buy the MetLife Grameen Ashray Plan?

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.

Frequently Asked Questions (FAQs):

Q. Under what conditions will the policy be terminated?

A. The MetLife Grameen Ashray plan will be terminated under the following conditions:

• When the policy term ends.
• On the intimation date of the insured person’s demise.
• At expiry of 2 years from first unpaid premium date when policy has not been reinstated.

Q. Can I avail surrender benefit with MetLife Grameen Ashray plan?

A. No, surrender benefit is not available with the MetLife Grameen Ashray Plan.

Q. What must be the minimum age at entry?

A. The minimum age at entry must be at least 18 years.

Q. What must be the maximum age at entry?

A. The maximum age at entry must be 55 years.

Q. What is the maximum premium for MetLife Grameen Ashray Plan?

A. The maximum premium for the MetLife Grameen Ashray Plan is Rs.1, 208.

Q. What is the minimum premium for MetLife Grameen Ashray Plan?

A. The minimum premium for the MetLife Grameen Ashray Plan is Rs.61.

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

A. The maximum sum assured for this policy is Rs.50, 000.

Q. What is the minimum sum assured for this policy?

A. The minimum sum assured for this policy is Rs.5, 000.

Q. What is the maximum coverage term that can be availed with this policy?

A. The maximum coverage term that can be availed with this particular policy is 5 years.

Q. Does the maximum or minimum premium include taxes?

A. No. The maximum premium and the minimum premium do not include taxes.