Invest in MetLife International Wealth Builder Plan

MetLife, an American Life Insurance Company, has been a key player in the financial sector of the UAE and surrounding countries for over 65 years. Based in Dubai, UAE, MetLife is renowned for its smart financial solutions that cater to everyday needs. 

One of the standout offerings from MetLife is the MetLife International Wealth Builder, a plan that epitomises the company's approach to financial planning and wealth management. This plan is a time-based investment life insurance plan, offering a range of investment opportunities designed to grow savings and provide security for the future.

Let’s take a closer look at the write-up to learn more about the MetLife International Wealth Builder.

What is the MetLife International Wealth Builder?

The MetLife International Wealth Builder is a unique financial solution designed to cater to the savings and investment needs of users. This plan is essentially a pure savings and investment program, which can be tailored to meet individual investment objectives. One of the key attractions of the MetLife Wealth Builder is its versatility – you can customise your investment strategy as per your personal financial goals.

This plan also comes with built-in protection benefits, adding a layer of security to the investment. This aspect ensures that while you grow your savings, you are also safeguarding your future and that of your loved ones. Additionally, the MetLife Wealth Builder offers the option to enhance the plan with a variety of supplementary insurance coverages, providing an extra buffer of protection.

Why Should You Choose the MetLife International Wealth Builder?

By choosing the MetLife International Wealth Builder, you can enjoy a range of benefits and features listed below —

1. Time-Based Investment: Designed as a time-based investment life insurance plan with built-in protection benefits for long-term savings goal
2. Flexible Savings Period: Offers a choice of savings periods between 5 to 25 years, adaptable to individual financial requirements
3. Regular Bonuses: Rewards consistent contributions with regular bonuses, encouraging long-term investment​
4. Worldwide Cover: Offers global coverage and financial security even when you leave the UAE​
5. 30-Day Free Look Period: Allows a 30-day period to review the plan and ensure that it meets your needs​
6. Partial Withdrawals: Enables up to 4 partial withdrawals per year, offering flexibility in accessing savings​
7. Flexible Investment Strategies: Offers the ability to switch between investment strategies — Conservative, Balanced, or Aggressive — based on market conditions and personal risk appetite​
8. Adjustable Contributions: Allows for the increase of contributions anytime during the plan, adapting to changing financial circumstances​
9. Comprehensive Insurance Coverages: Includes critical care for up to 32 illnesses, accident protection, and disability coverage​
10. Grace Period: A 60-day grace period is provided for premium payment if the net cash surrender value is insufficient to cover the monthly deduction. The policy is cancelled without value after this period if the premium remains unpaid

These striking features make the MetLife International Wealth Builder an excellent choice for those looking for a comprehensive investment and insurance solution, as highlighted in the MetLife Wealth Plus Review and International Wealth Builder MetLife.

MetLife International Wealth Builder Inclusions

The MetLife International Wealth Builder plan includes a comprehensive set of benefits and features, which can be divided into built-in benefits and optional benefits.

Built-in Benefits

1. Loss of Life Benefit: Provides 100% of the account value to the beneficiaries in the event of the policyholder's demise​
2. Short Term “Incapacity” Benefit: Covers the basic monthly premium for up to 2 years if the policyholder is unable to work due to an accident or sickness​
3. Second Medical Opinion: Offers free access to a second medical opinion from renowned medical centres for critical illness diagnoses​
4. MetLife Discount Card: Provides discounts ranging from 10% to 30% at select medical providers in the UAE​

Optional Benefits

1. Accidental Loss of Life Benefit: Offers up to USD 200,000 in case of loss of life due to an accident — available to both residents and non-residents​
2. Critical Care: Covers 32 critical illnesses with a lump sum payout of up to USD 250,000. This includes conditions like cancer, stroke, major organ transplant, total paralysis, and many others. 

Note that non-residents are covered up to USD 150,000 and that a 90-day waiting period is applicable from the effective date of the benefit​

1. Permanent and Total Disability (PTD): Provides a guaranteed cash payment of up to USD 250,000 in case of PTD due to accident or sickness. The payment is based on the period of PTD — 20% for 6 months, 30% for 12 months, and 50% for 24 months​
2. Waiver of Premium: In the event of the policy owner’s death or disability, MetLife waives all remaining premiums to ensure that the plan continues unaffected.

Investment and Withdrawal Options

1. Investment Strategies: As mentioned earlier, this MetLife plan offers three investment strategies — Conservative, Balanced, and Aggressive — to suit different risk profiles. Unlimited free transfers between investment accounts are allowed to benefit from market fluctuations or protect account value​

• Conservative Strategy: It is tailored for investors who prioritise the safety of their capital over high returns. This approach is most suitable for those who are risk-averse and wish to minimise potential losses. It particularly appeals to individuals nearing retirement or those who prefer stability in their investments
• Balanced Strategy: This strategy strikes a middle ground between risk and return. It is designed for individuals who are willing to accept a moderate level of risk in pursuit of higher returns compared to the conservative approach
• Aggressive Strategy: As the name suggests, it is geared towards investors who are seeking significant capital growth and are comfortable with high-risk investments. This strategy involves investing in assets that have high growth potential, albeit with higher volatility. It’s suitable for individuals with a longer investment horizon and a higher risk tolerance

1. Persistency Bonus: Monthly bonuses on account value start from the 31st month, calculated as a percentage of the account value​.
2. Partial Withdrawal (Surrender): Allowed after 24 months and receiving 2 years of full planned premiums. Up to 4 withdrawals per year are permitted, with a maximum of 80% of the accumulation account.

Exclusions of the MetLife International Wealth Builder

The MetLife International Wealth Builder plan, while offering extensive coverage, also specifies certain exclusions. Understanding these exclusions is important as they define the scenarios under which the policy will not provide benefits. 

The key exclusions of this policy are —

1. Suicide: If the policyholder commits suicide within 2 years from the date the policy was issued, the plan does not provide coverage.
2. War-Related Incidents: The plan does not cover loss of life or total and permanent disability if caused by or resulting directly or indirectly from war. This includes any conflict, whether declared or not, involving armed forces.
3. Residence in Sanctioned Countries: If the insured resides in any of the sanctioned countries, the plan will not provide coverage. This exclusion is due to compliance with international regulations and policies.

Eligibility Criteria of the MetLife International Wealth Builder

The MetLife International Wealth Builder plan sets specific eligibility criteria for individuals interested in enrolling in this comprehensive savings and investment program. The following section highlights the key eligibility criteria for this plan —

Documents Required for MetLife International Wealth Builder

Listed below are the documents generally required to apply for the MetLife International Wealth Builder Plan —

1. Identification Proof: A valid government-issued ID, such as a passport or national ID card
2. Proof of Address: A recent utility bill, bank statement, or similar document showing the current residential address
3. Income Proof: Documents such as salary slips, tax returns, or bank statements to verify income
4. Application Form: A completed and signed application form for the specific insurance plan
5. Medical Records (if required): Any relevant medical history or health records, if required

For the most accurate and detailed list of required documents, it is advisable to directly consult MetLife representatives or Policybazaar UAE’s official customer representatives. 

MetLife International Wealth Builder Premiums

The MetLife International Wealth Builder plan offers a range of premium payment options to suit different financial capabilities and goals. This flexibility is a key aspect highlighted in the MetLife Wealth Builder Review. 

Here is a table outlining the various premium-related aspects of the plan —

The ‘Excess Premium’ or ‘Dump-In’ option provides additional flexibility, allowing policyholders to contribute extra funds as per their financial situation, further enhancing the potential for account growth.

Charges Associated with MetLife International Wealth Builder Plan

The MetLife International Wealth Builder plan involves various charges that policyholders should be aware of. Each type of MetLife International Wealth Builder charge is explained in detail below —

1. Management & Expense Charge (M&E Charge): This charge is a percentage of the account value and varies as per the policy month —
   • 0 - 30 months: 1.44%
   • 31 - 60 months: 1.20%
   • 61 - 120 months: 0.96%
   • 121 - 180 months: 0.72%
   • 181+ months: 0.48% The M&E charge is net of the annual persistency bonus​
2. Premium Charge: A premium charge equivalent to 5% of the target premium is deducted from the account value. This charge also applies to any excess premium contributions​
3. Policy Administration Charge: A monthly charge of 0.25% of the Capital Account Value is deducted. This fee covers the administrative costs of managing the policy​
4. Fund Management Charge: These are the estimated annual costs levied by fund managers for managing your investments. These charges are fund-specific and are deducted from the fund assets by the investment account managers​
5. Surrender Charges: Specific charges apply when the policy is surrendered before the end of the term. The exact rates and conditions for surrender charges are detailed in the policy documentation.

How to Apply for the MetLife International Wealth Builder Plan?

Policybazaar.ae offers to you the most convenient and efficient way to apply for the MetLife International Wealth Builder Plan. 

The official website of Policybazaar UAE is a comprehensive platform that offers a wide range of insurance and financial products, catering to diverse needs. It simplifies the process of comparing and choosing insurance plans by providing detailed information and transparent comparisons between different options. 

Additionally, Policybazaar.ae is known for its user-friendly interface, making it easy for users to navigate through various products and quickly find what they are looking for. The website also offers support and guidance through customer service representatives for a smooth and informed decision-making process.

Here are the steps to apply for this plan via Policybazaar.ae —

1. Visit the Website: Start by going to the Policybazaar.ae website.
2. Locate Term Insurance: On the website, navigate to the 'Term Insurance' section. This is where you will find various term insurance plans, including the MetLife International Wealth Builder Plan.
3. Fill Out the Lead Form: You will come across a form asking for some basic personal information. Fill this out as it helps Policybazaar UAE understand your requirements and suggest the most suitable plans.
4. Wait for Contact: After submitting the form, a representative from Policybazaar.ae will reach out to you. They will assist you with the rest of the application process, answer any questions you may have, and guide you through selecting the right plan for your needs.

MetLife International Wealth Builder Claim Process

The claim process for the MetLife International Wealth Builder Plan is straightforward but requires attention to detail to ensure that all the necessary documents are correctly submitted. Here is a comprehensive overview of the process:

To initiate a claim, the following documents must be provided —

1. Claimant's Statement: A statement completed and signed by the beneficiary of the policy.
2. Physician's Statement: This document needs to be completed, signed, and stamped by the physician who last attended to the deceased. Alternatively, a detailed medical report can be submitted.
3. Original Death Certificate: This is a mandatory document to process any death benefit claims.
4. Police and Forensic Reports: In cases where the death was due to an accident, these reports are required.
5. Original Policy Document: The document outlining the policy details has to be presented.
6. Identification Documents: Copies of passports or ID cards of both the deceased and the beneficiary are needed.

Note

For additional support and assistance during the claim process, Policybazaar UAE offers claim assistance services. This includes guidance on the necessary paperwork, understanding the claim process, and ensuring that all requirements are met for a smooth and efficient claim experience. 

Listed below are some frequently asked questions related to the MetLife International Wealth Builder Plan.