Met Life Serious Illness Rider Plan

The MetLife Serious Illness Rider is non-linked, health insurance rider that allows you to enjoy double protection and enhances the Life Insurance Cover that you have. With this rider, you can customize the life insurance scheme with additional benefits and features. In times like these, people deal with a lot of stress on a daily basis. The MetLife Serious Illness rider covers the cost of several treatments and ensures that the illness do not harm you or your family financially or emotionally.

Eligibility – Who is the MetLife Serious Illness Rider for?

In order to be eligible for the MetLife Serious Illness Rider, some criteria set out by PNB MetLife must be met. The eligibility criteria for MetLife Serious Illness Rider 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

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.50 lakh	Rs.50 lakh	Rs.50 lakh	Rs.50 lakh
Minimum Rider Sum Assured	Rs.50,000 (Rs.5 lakh if the application is done online)	Rs.50,000 (Rs.5 lakh if the application is done online)	Rs.50,000 (Rs.5 lakh if the application is done online)	Rs.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.1,38,400	Rs.1,17,400	Rs.1,94,450	Rs.8,65,300
Minimum Annualized Rider Premium	Rs.62	Rs.62	Rs.70	Rs.263
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 Serious Illness Rider Covers?

The MetLife Serious Illness Rider offers cover for the following:

• Permanent Paralysis of Limbs
• Repair of Heart Valves or Open Heart Replacement
• Total Blindness
• Aorta Surgery
• Major Organ Transplant or Bone Marrow Transplant
• Kidney Failure that needs Regular Dialysis
• Open Chest CABG
• Cancer of Specified Severity
• Stroke Resulting in Permanent Symptoms
• First Heart Attack – of Specified Severity

Exclusions – What the Plan doesn’t Cover?

Suicide clause:

If the insured individual commits suicide, 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 Serious Illness 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 Serious Illness Rider are as follows:

• Any symptom or sign of a critical illness that occurs within the Waiting Period after the policy is issued or reinstated.
• The benefits for all pre-existing health conditions and diseases at the proposal stage can be availed after a period of 48 months from the uninterrupted coverage.
• Presence of any STD (Sexually Transmitted Disease) in the body, AIDS (Acquired Immune Deficiency Syndrome) or the presence of HIV (Human Immunodeficiency Virus) in the body.
• Use of alcohol, intoxicating drugs, solvents except 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.
• Any disease that occurs to the policyholder within a period of 90 days from the policy commencement date.
• Any health condition that is congenital.
• 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.
• Any type of Angina Pectoris
• NSTEMI (Non-ST-segment elevation myocardial infarction) with the elevation of Troponin I or T.
• Transient ischemic attacks
• Brain’s traumatic injury.
• A vascular diseases that affects only the optic nerve or eye or vestibular functions.
• Tumours showing malignant changes of the carcinoma in and the tumors that are described histologically as non-invasive or premalignant.
• Skin cancer except invasive malignant melanoma.
• Microcarcinoma of bladder.
• All tumors that have HIV infection.
• Any laser surgery or key hole surgery.
• Angioplasty or any other intra-arterial process.
• Stem cell transplants.
• In case of transplant of only the islets of Langerhans.
• Congenital narrowing of aorta and any traumatic injury of the aorta.
• Taking part in the air force, military and naval operations.

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 Serious Illness Rider 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 Serious Illness 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.

Other Benefits of MetLife Serious Illness Rider:

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

Why should you Buy the MetLife Serious Illness 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 Serious Illness Rider allows you to enjoy double protection and enhances the Life Insurance Cover that you have. With this rider, you can customize the life insurance scheme with additional benefits and features. In times like these, people deal with a lot of stress on a daily basis.

Frequently Asked Questions (FAQs):

Q. I am 32 years old. Can I avail the MetLife Serious Illness Rider?

A. Yes, you can avail this plan. Anyone above the age of 18 years can apply for the MetLife Serious Illness Rider. The maximum age to apply for this plan is 65 years.

Q. What is the term of this policy?

A. The policy term for MetLife Serious Illness Rider ranges between 5 years and 30 years.

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

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

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

A. The minimum rider sum assured is a Rs.50,000 for the MetLife Serious Illness Rider. 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 maximum sum assured for the MetLife Serious Illness Rider?

A. The maximum rider sum assured is a Rs.50 lakh for the MetLife Serious Illness Rider.

Q. What is the minimum rider premium for the MetLife Serious Illness Rider?

A. The minimum rider premium for MetLife Serious Illness Rider is given below:

• Rs.62 for Regular Pay
• Rs.62 for 10 Pay
• Rs.70 for 5 Pay
• Rs.263 for Single Pay

Q. What is the maximum rider premium for the MetLife Serious Illness Rider?

A. The maximum rider premium for MetLife Serious Illness Rider is given below:

• Rs.1,38,400 for Regular Pay
• Rs.1,17,400 for 10 Pay
• Rs.1,94,450 for 5 Pay
• Rs.8,65,300 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.