MetLife Loan and Suraksha

Key Benefits of MetLife Loan and Life Suraksha

  • 1

    Joint life option

  • 2

    Increases loyalty among customers


MetLife Loan & Life Suraksha plan is a group life insurance policy linked to loans. This policy provides a life insurance cover on the outstanding loan amount so that your customers do not have to bear the burden of a loan in case unexpected events strike. This plan also has additional features such a joint life option, multiple premium payment options and hassle-free issuance on group platform.

  • Coverage Options - There are two coverage options available
  • Reducing Coverage Option: Suitable for mortgage, educational & auto loans
  • Level Coverage Option: Provides the same cover throughout the term of the policy

MetLife Loan & Life Suraksha ensures

  1. Provides competitive edge to your existing product portfolio
  2. Increases loyalty due to additional protection
  3. Reduces default risk due to a customer’s death
  4. Allows you to maintain a long term relationship

Product Benefits

Death Benefit

  • In the event of death of an insured member, the plan provides for the payment of lump sum Death Benefit amount as specified in the Certificate of Insurance issued to each member on admission to this group scheme  
  • In case of Joint Lives, Sum Assured is paid on death of first life and policy stands cancelled and no further benefits are payable.

Joint Life Option

Joint Life coverage option is available for housing loan, other mortgage loans & Education loans subject to following conditions.

Increase in Sum Assured

The design of this policy gives the flexibility to the Group Policyholder to increase the Sum Assured for their members.

Surrender/Partial Surrender Benefit

The surrender benefits will be equal to a pre-determined percentage of un-expired Premiums.

Plan parameters



Age at entry of Person Insured

15 years (*)

65 years

Policy Term

2 years for Single Pay 5 years for 5 Pay 10 years for 10 Pay

25 years for Single & 5 Pay30 years for 10 Pay

Maturity Age of Person Insured


70 years

Group Size

50 Lives

No Limit

Sum Assured per member

Rs. 5,000



Based on the chosen Sum Assured

Premium Paying Options

Single Pay, Limited Pay 5 Years & Limited Pay 10 Years

Premium Paying Modes

Single, Yearly, Half-Yearly, Quarterly, Monthly(1) & Payroll Saving Program

*Age last birthday
(1) Electric Clearing Service (ECS) is mandatory for monthly mode.
(*) For Educational Loans and for all other loans, 18 years 

Terms & Conditions Download Brochure Premium Rates Form

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