Key Benefits of MetLife Guaranteed Income Plan
-
1
Guaranteed Income Benefit
-
2
Guaranteed Maturity Benefit
-
3
Life cover for the entire policy term
Overview
MetLife Guaranteed Income Plan is an income benefit plan that provides you guaranteed regular income to cherish those little joys in life along with lump sum benefit to help you turn your big dreams into reality.
With MetLife Guaranteed Income Plan
- Create a second income to support your family
- Plan your goals with a lump sum at maturity
- Secure your family’s future
- Meet important milestones of your child’s education
- Fund your annual vacations
Product Benefits
Guaranteed Income Benefit
Get regular annual income ranging from 11% to 13% of Basic Sum Assured (BSA),based on your Premium Payment Term
- 5 Pay – 5 annual payments starting from 6th policy anniversary, each equal to 11% of Basic Sum Assured
- 7 Pay – 8 annual payments starting from 8th policy anniversary, each equal to 11% of Basic Sum Assured
- 10 Pay – 10 annual payments starting 11th policy anniversary, each equal to 13% of Basic Sum Assured
Pay as you like
Survival Benefits
In addition to the Guaranteed Income Benefit, get 30% to 55% of Basic Sum Assured (BSA) on Maturity, based on your Premium Payment Term
- 5 Pay – 30% of Basic Sum Assured, payable at the end of policy term
- 7 Pay – 35% of Basic Sum Assured, payable at the end of policy term
- 10 Pay – 55% of Basic Sum Assured, payable at the end of policy term
Death Benefit
Sum assured on death is payable on death during policy term
Where Sum Assured on Death is the highest of;
- Annualized Premium X Multiple of Annual Premium (10x or 7x, depending on age at entry)
- 105% of all premiums paid as on date of death
- Sum Assured on Maturity
- Basic Sum Assured (BSA)
Premium Payment Type |
5 Pay |
7 Pay |
10 Pay |
Premium Payment Term (years) |
5 |
7 |
10 |
Policy Term (years) |
10 |
15 |
20 |
Minimum Age* at entry(years) |
8 |
3 |
3 |
Maximum Age* at entry (years) |
60 |
60 |
60 |
Maximum age* at maturity (years) |
70 |
75 |
80 |
Minimum Annual Premium (Rs) |
52,900 |
23,864 |
16,666 |
Maximum Annual Premium (Rs) |
As per Board approved |
As per Board approved |
As per Board approved |
Minimum Sum Assured (Rs) |
4,00,000 |
2,00,000 |
1,50,000 |
Maximum Sum Assured (Rs) |
As per Board approved |
As per Board approved |
As per Board approved |
Premium payment modes |
Yearly/half yearly/monthly |
Yearly/half yearly/monthly |
Yearly/half yearly/monthly |
Multiple of Premium |
Age at entry |
Applicable multiple |
Multiple of Premium |
45 years and above |
10x or 7x |
Multiple of Premium |
Less than 45 years |
10x |
*Age last birthday
You might also be interested in
-
MetLife Endowment Savings Plan MetLife Endowment Savings Plan
MetLife Dhan Samriddhi Plan MetLife Dhan Samriddhi Plan