MetLife Future Protect Plan

MetLife is one of the largest insurance companies across the globe. It offers a plethora of insurance and investment products to help individuals keep themselves and their families financially protected for the long term. 

Among its most notable products is the MetLife Future Protect plan. Let’s uncover its crucial details in terms of benefits, inclusions, exclusions, eligibility, application procedure, and much more!

MetLife Future Protect Plan: An Overview

MetLife Future Protect is a universal life insurance plan. It not only serves as an investment but also provides financial shelter to the insured’s loved ones. This hybrid plan offers flexibility in customising savings and protection needs.

This plan comprises several additional living benefits to ensure financial safety for the policyholder’s dependents. Furthermore, this policy is also suitable for businesses and their employees.

Why Choose the MetLife Future Protect Plan in UAE?

Given below are the key features and benefits of Future Protect by MetLife —

Multiple Premium Payment Mode Options

Customers can choose from a range of payment mode options. For regular premium, annual, semi-annual, and quarterly options are available. On the other hand, those who opt for a monthly single premium can pay on an annual or monthly basis.

Worldwide Coverage

The plan offers global coverage, So even if you move out of the UAE, the policy remain valid.

Multiple Currencies

The MetLife Future Protect plan is available in various currencies — USD, EUR, and GBP.

Loss of Life Benefit

Within the Loss of Life benefit, policyholders can choose between single life or joint life coverage.

Built-in Benefits

Within this category, a wide range of coverage options are available, including second medical opinion, terminal illness benefit, and MetLife discount card. Note that the MetLife discount card is only offered to the residents.

Optional Benefits

Along with the basic plan, MetLife Future Protect policyholders can opt for add-ons — accidental loss of life, critical illness, permanent and total disability, and waiver of premium on loss of life or disability.

Permanent and Total Disability

A guaranteed cash payment is given to the beneficiary in case of permanent and total disability due to sickness or accident.

Permanent Partial Disability

A guaranteed cash payment is offered by the provider in case of permanent partial disability caused by an accident.

Wide Range of Investment Choices

Individuals can choose from any of the three investment options available — aggressive, conservative, and balanced strategy.

Availability of Insurance Cover

Single and joint life insurance cover options are available.

Free Partial Withdrawal

MetLife Future Protect policyholders can make 2 partial withdrawals each year (subject to maximum withdrawal limits).

Flexible Payment Term

The minimum payment tenure for regular premium customers is 5 years. The maximum payment tenure for regular premium customers is up to the age of 95 years, whereas for single premium individuals, it is 1 year.

No Limits for Maximum Annual Premium

There is no set limit for maximum annual premium.

30 Days Free Look Period

A 30-day free look period is provided to the customers, starting from the date of issuance. During this period, individuals may cancel their policies.

Grace Period

A grace period of 60 days is allowed in case the policyholder fails to make payment in any month.

Inclusions of MetLife Future Protect in UAE

The MetLife Future Protect comprehensive plan consists of the following inclusions —

Loss of Life Benefit

The insurer offers two options under this coverage —

• Single Life: It is a type of conventional life insurance that covers only one individual.
• Joint Life: It has further two categorisations —

First Loss of Life

In case one of the protected members loses their life, the dependent mentioned in the policy receives the life insurance benefit or the account value (whichever is higher). The policy then terminates. 

Both Loss of Life

In case one of the protected members loses their life, MetLife pays out the share of the insured’s life insurance benefit to the beneficiary and the policy continues to remain active for the living insured.

High Sum Assured

With this MetLife plan, you can get a coverage of up to USD 50 million (~AED 184 million). For non-residents, the maximum coverage is USD 5 million (~AED 18.4 million).

Terminal Illness Benefit

The basic death benefit is accelerated if the insured gets diagnosed with a terminal illness.

Accidental Loss of Life

In case of accidental loss of life, the insurer pays up to 3 times the basic plan coverage, with a maximum limit of USD 5 million. In scenarios like accidental loss of life in common carriers, the benefit doubles up to a maximum of USD 10 million.

Critical Illness Cover

For standalone critical illness, MetLife pays out a lump sum of up to USD 500,000. Up to USD 1 million is offered in case of accelerated critical illness. There are three cover options available under this benefit —

• Cancer only
• 3 critical illnesses — cancer, stroke, and first heart attack
• 32 critical illnesses

Provided below is a list of the 32 critical illnesses for which policyholders are covered —

Permanent and Total Disability

In case of permanent and total disability due to sickness or accident, MetLife pays guaranteed cash of up to USD 2 million. The percentage of cash payout depends on the period of the permanent and total disability condition —

Permanent Partial Disability

If permanent partial disability happens due to an accident, the provider pays out guaranteed cash of USD 1 million. The percentage of this benefit is paid out for the respective loss.

In addition to this, a weekly income of up to USD 2,000 is given to the insured during their treatment period in the hospital in case of an accident or sickness.

Exclusions of the MetLife Future Protect Plan

Although there are no MetLife Future Protect disadvantages, it’s worth noting that the plan doesn’t provide any coverage under certain circumstances —

Suicide

Suicide within 2 years from the date of policy issuance is not covered. 

Acts of War

Total and permanent disability or loss of life due to acts of war are not covered. Note that it is applicable only if the policyholder has not opted for war risk coverage.

Country Specific Exclusions

This MetLife Future Protect exclusion applies to individuals residing in certain sanctioned countries, including the Iran, Cuba, the Crimea region, North Korea, and Syria.

What are the Investment Options Available in the MetLife Future Protect Plan?

MetLife Future Protect policyholders can choose from a range of investment strategies available —

Aggressive Strategy

This strategy is curated for customers who exclusively focus on capital growth and are prepared to take investment risks.

Balanced Strategy

It is ideal for individuals who have a primary aim of capital preservation or modest capital growth and are ready to take a medium level of investment risk.

Conservative Strategy

Those who want to focus on minimising losses and are not ready to take any significant investment risk can opt for this category of investment strategy.

MetLife Future Protect Plan: Premium

The minimum annual premiums for the MetLife Future Protect plan are listed below —

MetLife Future Protect Plan: Fees and Charges

The fees and charges related to the MetLife Future Protect plan are provided in the table below —

Monthly Management and Expense Charge

Regular Premium Charge

Single Premium

Administration Charges

Regular Premium Surrender Charges

Single Premium Surrender Charges

What are the Eligibility Criteria for the Metlife Future Protect Plan?

The provider has certain requirements to be eligible for the plan and its coverages —

Accidental Loss of Life (Optional Benefit)

Critical Illness

Waiver of Premium on Loss of Life or Disability

Permanent and Total Disability

Permanent Partial Disability

Hospitalisation

Which Documents are Required to Buy MetLife Future Protect Plan?

To apply for this policy, one must submit a set of documents for the purpose of verification. Here is the list of commonly required documents —

• Duly filled and signed application form
• A valid proof of identity (e.g. National ID, passport)  
• A valid proof of residential address (e.g. Utility bills)
• A valid proof of income (e.g. Salary certificate)
• Previous 3 or 6 months’ bank statements
• Medical reports

Note: The provider may ask for additional documents according to their requirements.

How to Apply for MetLife Future Protect in UAE?

With the digital platform of Policybazaar.ae, you can easily apply for the MetLife Future Protect plan. Mentioned below are the instructions for the same —

• Locate Life Insurance on Policybazaar.ae: Move to the ‘Life Insurance’ section from the homepage.
• Fill in the Lead Form: Fill out the lead form with the correct info to view appropriate quotes.
• Apply for the Plan. Choose the option to apply after going through its features, prices, and more.

One of our experts will soon connect with you and guide you through the next process.

How to File a Claim for MetLife Future Protect Plan?

It is crucial to be aware of the MetLife Future Protect policy claim process to avoid any later troubles. Here’s how to file a claim:

• Inform MetLife: Notify MetLife about the claim at the earliest.
• Complete the Documentation: Download and fill out the claim form. Attach and upload the required documents.
• Submit the Documents: Submit the claim form with the attached documents to lifeclaims@metlife.ae.
• Assess the Claim Form: MetLife will go through the form and the documents.
• Approval of the Claim Request: Upon approval of the claim request, the provider will initiate the claim process.
• Payment: The claim amount will be paid to the beneficiary as per the policy guidelines.

It is mandatory to submit the stated list of documents to successfully carry out the claim process — failing to do so can lead to the rejection of your claim request. Here is a checklist of the documents required to file a claim —

• The claimant's statement — completed and signed by the beneficiary
• Physician's statement completed, signed, and stamped by the Physician who last attended the deceased or detailed medical report
• Original Policy document
• Copies of passports or ID cards of deceased and beneficiary
• Complete address and telephone number of the beneficiary
• Original death certificate
• Police and Forensic reports in case death was due to an accident 

Note: Individuals can have a one-on-one conversation with the representatives to get the necessary claim assistance. The representatives assist our customers with any queries, including the policy claim terms and guidelines, necessary documents, claim-related updates, coordination with the insurer to ensure easy and convenient claim processing, and more.

You can dial 042472904 to have a word with our experts for claim assistance.

Let’s take a look at some of the most frequently asked questions regarding the MetLife Future Protect plan!