With stress levels going up every day, health has become a primary concern for us. The fast paced lifestyle has brought with it a never ending list of ailments, conditions diseases like cancer, heart attack and such. One can experience some relief in the knowledge that the treatments for such ailments and conditions are now available in India.
However, the costs of these treatments are prohibitively high and can certainly make a serious dent in one's savings. Also, combating any illness or condition isn't only financially weakening but also emotionally stressful. Considering that one can not always predict an illness or prevent it from happening, however, by investing in the MetLife Serious Illness Rider, we can most certainly shield ourselves and our loved ones to a major extent.
Minimum Age of Entry | 18 years |
Maximum Age of Entry | 65 years |
Maximum Age at Maturity | 70 years |
Type of Plan | Non-linked, Health Insurance Rider |
Plan Basis | Individual |
Policy Term | 5 years to 30 years |
Premium Payment Frequency | Single Pay, Annually, Bi-annually, Quarterly or Monthly. |
Maturity Benefit | Rider provides 100% of the Sum Assured amount on survival of 30 days after the confirmed diagnosis of the insured individual who is suffering from one of the Insured Critical Illness Conditions. |
Free-look Period | 15 day Free-look period from the date of receipt of the Policy document. |
Grace Period | 30 days from the due date of payment for quarterly/half-yearly/yearly frequencies: 15 days from due date of payment for monthly/payroll savings plan. |
Policy Revival | The lapsed policy can be revived within 2 years from the first unpaid premium. |
Sum Assured | Minimum Sum Assured is Rs 50,000. Maximum Sum Assured is Rs 50,00,000. |
Policy coverage | First Heart Attack (of specified severity), Stroke Resulting in permanent symptoms, Cancer (of specified severity), Total blindness, Open heart Replacement / Repair of Heart Valves and Permanent Paralysis of Limbs. |
Some of the key benefits of the MetLife Serious Illness Rider are as follows:
Options | Single | 5 Pay | 10 Pay | Regular Pay |
Minimum Rider Sum Assured (3) | Rs. 50,000 (Rs 5 lakh for 'On Line') | Rs. 50,000 (Rs 5 lakh for 'On Line') | Rs. 50,000 (Rs 5 lakh for 'On Line') | Rs. 50,000 (Rs 5 lakh for 'On Line') |
Maximum Rider sum Assured (3) | Rs 50 lakh | Rs 50 lakh | Rs 50 lakh | Rs 50 lakh |
Min. Annualized Rider Premium (4) | Rs 263 | Rs 70 | Rs 62 | Rs 62 |
Max. Annualized Rider Premium (4) | Rs 8,65,300 | Rs 1,94,450 | Rs 1,17,400 | Rs 1,38,400 |
GST of 18% is applicable on life insurance effective from the 1st of July, 2017
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