MetLife Forever Plan

MetLife is a globally recognised insurance provider, offering a variety of plans to ensure financial security and peace of mind. Among its numerous offerings, the MetLife Forever Plan stands out as a unique option in the UAE. Let’s take a look at its basic features, benefits, eligibility criteria, application procedure, and more.

What is the MetLife Forever Plan?

The MetLife Forever Plan is an income protection policy. It's designed for people from the ages of 18 to 59 years (for annual mode). If the insured gets permanently hurt or sick and can't work, this plan helps by providing them with money every month. 

This plan is ideal for providing financial security for oneself and family, especially in uncertain situations like disability or serious health issues. The plan is valid all around the world, so it's good for people who travel or live in different countries. 

Why Should You Choose the MetLife Forever Plan?

Some of the key features and benefits of the MetLife Forever Plan are as follows -

• Lifetime Financial Security: The plan provides financial security for the insured's entire life. For instance, if someone starts the plan at a young age, they will have the assurance of financial support throughout their life.
• Worldwide Coverage: This benefit means the insured is covered no matter where they are in the world. For example, if an insured person relocates to another country, they still remain covered under this plan.
• Waiting Period: Disability must continue for at least six months before the benefits are payable.
• Terms Available: The plan offers annual, 3-year, and 5-year single premium options.
• Premium Modes: Available in annual, semi-annual, quarterly, and monthly modes
• Modal Loads: Additional charges may apply for semi-annual, quarterly, and monthly payment modes.
• 30-Day Free Look Period: The MetLife Forever Plan provides a 30-day trial period with a full refund option if the policy is cancelled.
• Grace Period: The policy provides a 60-day grace period for annual mode, and 30 days for semi-annual/quarterly mode. This means if you miss a payment, you have extra time to make it without losing your coverage.
• Flexibility in Plan Type: The plan can be chosen as a stand-alone policy or as a rider with life insurance, offering flexibility.
• Monthly Benefit Payments: The plan offers monthly benefit payments for the lifetime of the insured with a minimum guaranteed period of 240 months in case of disability due to accident or sickness. 
• .Minimum/Maximum Coverage: Monthly benefits under this plan range from $250 to $3,000. For the loss of life/ dismemberment/ permanent total disability due to an accident, $ 15,000 as a lump sum is payable. 
• Discounts on Single Premium: The provider offers multiple discounts on single premium modes, like a 5% discount for 3 years and a 10% discount for 5 years. This encourages long-term commitment by reducing costs for longer plans.

Inclusions of the MetLife Forever Plan

The MetLife Forever Plan provides comprehensive coverage and financial security through the following key inclusions —

• Permanent Total Disability Due to Accident or Sickness: The policy offers monthly benefits if the insured becomes permanently disabled due to an accident or sickness.
• Loss of Life/Dismemberment/Permanent Total Disability Due to Accident: This MetLife insurance policy provides financial support in the event of loss of life, dismemberment, or permanent total disability resulting from an accident.
• Permanent Partial Disability Due to Accident or Sickness: In case of permanent partial disability occurring within 180 days of an accident or sickness, the plan pays a guaranteed monthly benefit or a percentage of it based on the specific loss, such as 100% for the loss of both hands, feet, or sight of both eyes and 50% for the loss of one hand or foot. 

If multiple losses occur, the benefits are added up to a maximum of 100% of the selected monthly benefit.

Exclusions of the MetLife Forever Plan

Listed below are the exclusions of the MetLife Forever Plan -

• Suicide: Excluded from coverage
• War and Terrorist Acts: Incidents related to war and terrorism are not covered.
• Pre-existing Conditions: Any pre-existing medical conditions are not eligible for claims.
• Hazardous Sports and Activities: Activities deemed hazardous are excluded.
• Mental and Nervous Disorders: These are not covered under the plan.
• Alcohol and Drug Abuse: Claims related to the abuse of alcohol, narcotics, or drugs are excluded unless prescribed by a physician.

Types of Classes in MetLife Forever Plan

The premiums for the MetLife Forever Plan vary as per the type of coverage you choose. They are also influenced by your occupation, which MetLife categorises into different classes. 

Here's a breakdown of these classes -

• Class A: This class typically includes less risky occupations. Premiums are usually lower for these jobs because there's a lower chance of accidents or disabilities happening at work.
• Class B: This class might include slightly higher-risk jobs. The premiums are adjusted accordingly to reflect the increased risk.
• Class C and Class D: These classes are for more hazardous occupations. The premiums are higher due to the greater risk of injury or illness associated with these types of jobs.

Premiums of the MetLife Forever Plan

The  premiums applicable to the MetLife Forever Plan are given below:

1.) Annual Premium

Permanent Partial Disability/ Permanent Total Disability due to Accident or Sickness

Annual Premium (USD)
Monthly Benefit	3,000	2,500	2,250	2,000	1,750	1,500	1,250	1,000	750	500
Class A	1,049	874	787	699	612	525	437	350	262	N/A
Class B	1,165	971	874	777	680	582	485	388	291	194
Class C	-	-	-	-	-	-	-	-	-	270

Loss of Life/ Dismemberment/ Permanent Total Disability due to Accident

Benefit Amount	Occupational Class	Age 18-59	Age 60-65 (Renewals)
USD 15,000	A	37.50	50.40
	B	46.95	62.55
	C	56.25	79.05

2.) Three Years Single Premium

Permanent Partial Disability/ Permanent Total Disability due to Accident or Sickness

Annual Premium (USD)
Monthly Benefit	3,000	2,500	2,250	2,000	1,750	1,500	1,250	1,000	750	500	250
Class A	2,990	2,492	2,242	1,993	1,744	1,495	1,246	997	747	498	N/A
Class B	3,320	2,767	2,490	2,213	1,937	1,660	1,383	1,107	830	553	N/A
Class C	-	-	-	-	-	-	-	-	-	770	385
Class D	-	-	-	-	-	-	-	-	-	-	440

Loss of Life/ Dismemberment/ Permanent Total Disability due to Accident

Benefit Amount	Occupational Class	Age 18-57
USD 15,000	A	106.95
	B	133.80
	C	160.35
	D	213.75

3.) Five Years Single Premium

Permanent Partial Disability/ Permanent Total Disability due to Accident or Sickness

Annual Premium (USD)
Monthly Benefit	3,000	2,500	2,250	2,000	1,750	1,500	1,250	1,000	750	500	250
Class A	4,721	3,931	3,541	3,147	2,754	2,360	1,967	1,574	1,180	787	393
Class B	5,242	4,368	3,932	3,495	3,058	2,621	2,184	1,747	1,311	874	437
Class C	-	-	-	-	-	-	-	-	-	1,217	608
Class D	-	-	-	-	-	-	-	-	-	-	695

Loss of Life/ Dismemberment/ Permanent Total Disability due to Accident

Benefit Amount	Occupational Class	Age 18-55
USD 15,000	A	168.75
	B	211.35
	C	262.20
	D	337.50

Eligibility Criteria for MetLife Forever Plan

The MetLife Forever Plan has specific eligibility criteria to ensure it meets the needs of a diverse range of clients. 

Here's a detailed look at these criteria -

Aspect	Details
Age at Entry	18 to 59 years for annual mode 18 to 57 years for 3 year single premium 18 to 55 years for 5 year single premium
Occupational Classification	Classifies occupations into different categories based on risk, affecting eligibility and premiums, like Class A, Class B, Class C, and Class D
Residency	Excludes residents in certain sanctioned countries, ensuring compliance with international regulations. Some of the sanctioned countries include the Crimea region, Cuba, Iran, North Korea, and Syria.

Documents Required for the MetLife Forever Plan

To apply for the MetLife Forever Plan, certain documents are required. Generally, the following documents are required for a smooth application process -

1. Completed Application Form
2. Proof of Identity (e.g., Passport, National ID)
3. Proof of Address (e.g., Utility Bill, Lease Agreement)
4. Proof of Income (e.g., Salary Certificate, Bank Statements)
5. Medical Reports (if required)
6. Employment Proof for Occupational Classification
7. Any Other Relevant Documents Requested by MetLife

How to Apply for MetLife Forever Plan?

Policybazaar.ae is a leading online insurance marketplace in the UAE, offering a wide range of insurance products in one place. It's known for its user-friendly interface, which makes comparing and purchasing insurance policies easy and convenient. The website provides access to a variety of insurance options, including life, health, car, and travel insurance, from multiple insurers. 

Policybazaar.ae is especially useful for customers looking to compare the features and prices of different policies to find the one that best suits their needs. With its comprehensive offerings and hassle-free process, Policybazaar.ae has become a go-to platform for many seeking insurance solutions in the UAE.

Applying for the MetLife Forever Plan is a straightforward process through Policybazaar UAE. Here are the steps to apply -

• Visit Policybazaar UAE: Start by visiting the Policybazaar.ae website. 
• Locate Term Insurance: On the website, find the section for term insurance. This is where you'll find the MetLife Forever Plan.
• Fill Out the Lead Form: Complete the lead form provided. This form collects your basic information to tailor insurance quotes to your needs.
• Follow-Up by Representative: After applying, a representative from Policybazaar UAE will contact you and assist you with the next steps in the application process.

By following these steps, you can easily apply for the MetLife Forever Plan, benefiting from the expert guidance of Policybazaar UAE's representatives throughout the process.

Claim Process for the MetLife Forever Plan

The claim process for the MetLife Forever Plan is designed to be clear and straightforward. Simply follow these steps —

• Notification: Inform MetLife about the claim as soon as possible.
• Documentation: Provide necessary documents, including policy papers, proof of the event (like medical reports for disability), and identity verification of the insured.
• Submission: Submit the claim and documents to MetLife's Claims Department.
• Review: MetLife reviews the claim and documents for validation.
• Decision: Once approved, MetLife processes the claim.
• Payment: The claim amount is then paid as per the policy terms.

Remember that claims are payable only when the policy and satisfactory proof are delivered to the company. This proof includes:

1.  Evidence of the event as per the policy's schedule.
2. Proof of the insured's age.
3. Documentation confirming the claimant's entitlement to the claim.

This process ensures that all claims are thoroughly verified and processed in accordance with the policy terms.

Note: You can connect with the customer support team of Policybazaar.ae for additional assistance with the claim process. Our team can help you understand the requirements of your claim so that you can correctly complete all the required documentation. They can also discuss the solutions to any claim-related queries that you might have. 

Cancellation, Renewability, and Reinstatement  of MetLife Forever Plan

The MetLife Forever Plan offers specific terms for cancellation and renewability. Given below is the detailed view -

Cancellation

• Annually Renewable Policies: These can be cancelled, allowing policyholders flexibility if their circumstances change.
• Single Premium Policies: These are non-cancellable, offering a more stable, long-term coverage option.

Renewability & Expiry

• Annual Mode Policies: These plans can be renewed at age 60, albeit with a higher premium. This premium rate continues until age 65, after which coverage expires.
• Single Premium Policies: These expire at age 60, catering to those who prefer coverage during their working years.

Reinstatement

• Policies can be reinstated within six months from the date of lapse, which provides a safety net in case of missed payments.

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