MetLife Life Insurance: Compare Plans, Premiums and Benefits

MetLife life insurance policy is flexible, simple, and collection of solutions for helping in protecting the future of policyholder’s families. It offers financial security to the family and peace of mind. These plans offer life coverage with a potential investment for the future.

MetLife Life Insurance Policy Benefits

The table below gives an overview of the features of the life insurance policies offered by MetLife in the UAE.

Features	Future Protect	Decreasing Term	Live Life
Option for Investment	Yes	No	No
Duration of Coverage	Up to 95 years	Up to 75 years	Up to 75 years
Critical Illness Cover	Yes	No	Yes
Insurance Price (in USD)	Starts from 1,800/year	Starts from 190/year	Starts from 225/year
Joint Coverage	Yes	Yes	No

Types of MetLife Life Insurance Plans

The following are the various types of MetLife plans along with their features & benefits.

1. Future Protect Life Insurance Plan

This innovative policy by MetLife provides life coverage with a potential investment opportunity for the future. In case the policy seekers are in search of a combination of life coverage and an investment element, the Future Protect plan can be perfect for them. It offers an easy and smart way of protecting their savings as well as the future of their family.

MetLife Future Protect Life Insurance Plan Features and Benefits

Here is a rundown on the main features & benefits of this plan.

a. The benefit of Life Coverage

In the case of the unfortunate demise of the insured individual, this plan helps in making up for the income lost, funding education for the children, and settling outstanding payments (if any). It also allows the policyholder to select between a single life cover and a joint life cover. Having an insurance coverage of USD 50 million (maximum), the policyholders can remain stress-free that their dependents will be capable of maintaining their lifestyle.

Single Insurance Cover

If the insured individual passes away, the nominee(s) will get the selected life cover benefit or the value of the account (whatever is higher).

Joint Insurance Cover

This plan gives applicants an option to buy a joint life plan where they can either choose-

Loss of First Life: If one of the joint insured individuals die, the nominee(s) will get the life cover benefit share of the deceased and the plan will continue.
Loss of Both Lives: If the joint insured individuals die, the nominee(s) will get the selected benefit of life insurance or the value of the account (whatever is higher).

b. Option for Investment

This type of MetLife insurance policy gives the policyholders an opportunity to meet their savings objectives by offering them access to many investment strategies. Based on their risk-bearing capacity, they can decide to have their contributions allocated to one of the investment strategies of MetLife- aggressive, balanced, and conservative.

Aggressive Strategy: It is designed for those customers who focus on capital growth and are ready to take considerable investment risk.
Balanced Strategy: It is designed for those customers who focus on capital preservation or modest growth of capital and are ready to take a medium level of risk in investment.

Conservative Strategy: It is designed for those customers, who focus on reducing losses, and are not ready to take considerable investment risk.

c, Maximum Flexibility

Future protect also allows the policyholders to customize their investments depending upon their constantly changing requirements and market situations. For leveraging on the favourable conditions in the marker or protecting the account value for possible significant fluctuations in the market, they have the option to-

Increase their contributions up to ten times their annual premium (USD 250 per year minimum)
Move an investment account to the other

d. Access to Funds

Knowing that one can access money easily and quickly when required is always reassuring. With this MetLife plan, partial surrenders or withdrawals can be done anytime after the period of initial payment, depending upon the terms and conditions of the plan.

e. Options Benefits

Enhance the policy by going for additional benefits. For reducing the financial stress on the policyholders and their family, the contributions of the former towards additional benefits gets deducted from the account value. They can choose from the following options.

Critical Illness: On getting diagnosed with any of the listed 32 critical illnesses, MetLife pays out a lump sum amount of up to USD one million for helping the policyholders in affording different expenses such as lost income, co-pay, at-home healthcare requirements, or childcare costs.
Accidental Death: In the case of the death of the insured individual due to an accident, the nominee(s) will get a lump sum payout of up to USD five million for making sure they can maintain their living standard.
Permanent Total Disability or PTD: At any stage of life, the probability of an accident causing a permanent total disability is much higher than the chances of death. This benefit helps the policyholders in avoiding severe financial issues by allowing them to meet their financial commitments via guaranteed payments of up to USD two million in cash and receive their PTD benefit of 20% for six months, 30% for 12 months, and 50% for 24 months.
Premium Waiver due to Disability or Death: MetLife waives off all the remaining amount of MetLife life insurance premium that has to be paid by the policyholders to make sure the policy remains active and the objectives remain unaffected if the insured individual becomes disable (only when he or she is the owner of the policy) and death or disability of the policy owner (only when he or she isn’t the insured).

f. Benefit of Valuable Pension

Rather than receiving their account value as a lump sum amount, the policyholders have the option of receiving a regular income monthly for their lifetime. The income is paid to them for as long as they are alive. In the unfortunate event of their demise during the 20 years guaranteed time, their dependents will continue to get this monthly income for the rest of the period. When the plan will mature at the age of 95, the policyholders can apply for the benefit of pension till the age of 65.

Eligibility Criteria and Documents Required:

The eligibility criteria for the plan is as follows-

The age eligibility for MetLife life insurance is 18 to 65 years.
Maturity age for this MetLife insurance plan is 95 years.

Documents Required are as follows-

Valid Emirati ID
Passport for expatriate applicants
Salary Slip
Bank Statement
Medical Certificate

2. Decreasing Term Insurance Plan

Everybody wishes to do their best for taking care of their family. However, life includes many ups & downs and they may need special financial security for a specified time duration, in case something unexpected happens to them.

Whether planning for a home loan or saving funds for children’s education, the Decreasing Term Plan can be personalized for the needs of the policyholders and cover their specific financial responsibilities, giving them and their family financial safety at competitive rates.

Features and Benefits of this MetLife Policy

Here is a rundown on the main features & benefits of this plan.

a. Benefit of Life Coverage

In the case of the unfortunate demise of the insured individual, this plan allows the policyholder to select between a single life cover and a joint life cover. Having an insurance coverage of USD 50 million (maximum), the policyholders can remain stress-free that their dependents will be capable of maintaining their lifestyle.

Single Insurance Cover

If the insured individual passes away, the nominee(s) will get the decreased life cover benefit depending upon the amortization table.

Joint Insurance Cover

Decreasing term insurance gives the policyholders an option for a joint life cover for them and their spouse. In the case of the unfortunate demise of one of the joint insured individuals, the nominee(s) will receive the insurance benefit of the dead insured. The plan gets terminated when both of the insured individuals pass away.

b. Flexibility

This MetLife life insurance policy can be customized according to the existing debts of the policyholders. They can select the policy tenure and the payment period. The insurance expert takes into consideration the rate of interest of the loans and will set them up with the perfect policy for protecting the dreams of their family. They can also add to supplement benefits such as waiver of premium, passive war risk, and permanent total disability to enhance their basic term plan.

c, Affordability

With the lost cost-high coverage benefit, this term plan is an economical alternative or an enhancement to the permanent life insurance plan. For a yearly premium of USD 900, the policyholders can get coverage for USD one million.

d. Addition to Financial Planning

This MetLife policy is the perfect solution for helping the policyholders to cover the financial obligations such as a home loan or the education expenses of their children in the case of their unfortunate demise.

e. Addition to the Business

Since this policy is so economical, it is easy for the policyholders to become an employer of their choice and raise their staff retention by offering their main employees the insurance coverage that they deserve.

f. Options Benefits

Enhance the policy by going for additional benefits. They can choose from the following options.

Premium Waiver due to Disability: MetLife waives off all the remaining amount of MetLife life insurance premium that has to be paid by the policyholders to make sure the policy remains active and the objectives remain unaffected if the policy owner becomes disabled.
Permanent Total Disability or PTD: Any person who is dependent on an income for paying bills must have a financial safety net in case they become incapable of working due to a sickness or an accident. Such a benefit will help them in avoiding severe financial issues by letting them meet their financial obligations via guaranteed payments of up to USD two million in cash. Just as the life cover, the face amount of PTD also decreases.
Passive War Risk: By choosing this benefit, the policyholders get coverage for their demise as a consequence of war.

Eligibility Criteria and Documents Required:

The eligibility criteria for the plan is as follows-

The age eligibility for MetLife life insurance is 18 to 65 years.

Documents Required are as follows-

Valid Emirati ID
Passport for expatriate applicants
Salary Slip
Bank Statement
Medical Certificate

3. Live Life Insurance Plan

This is a smart yet simple solution for ensuring the safety of the policyholders’ family, even they become critically ill or are not around to look after them. They can personalize their policy for fitting their own objectives and the unique lifestyle of their family.

Features and Benefits of this MetLife Live Life Insurance Policy

Here is a rundown on the main features & benefits of this plan.

a. Benefit of Life Coverage

Having an insurance coverage of USD 50 million (maximum), the policyholders can remain stress-free that their dependents will be capable of maintaining their lifestyle. They have the option to choose between the following plans.

Five Years Renewable Plan

Using this five years renewable plan, the policyholders can enjoy a cover for a short fixed duration with a guaranteed right for renewing the policy for the same coverage and the same period with no need to give proof of good health. This policy can be renewed after every five years up to the age of 75 years and the renewal premiums are calculated based on the attained age. But any rise in the coverage will need considerable medical proof.

Convertibility

The policyholders can convert their five-year renewable plan anytime in the first ten policy years to a permanent policy with cash value like endowment or whole life plans, in case they have not suffered a total and permanent disability claim.

Policy Terms 6-25 years

This plan provides the flexibility of paying premiums over six to 25 years with a fixed premium amount throughout the tenure of the plan. These options are not convertible or renewable.

b. Flexibility

This MetLife life insurance policy can be customized according to the existing debts of the policyholders. The insurance expert takes into consideration the rate of interest of the loans and will set them up with the perfect policy for protecting the dreams of their family. They can also add to supplement benefits such as waiver of premium, permanent total disability, and more.

c. Affordability

This plan offers the policyholders the flexibility of selecting the coverage levels at the cost, which costs suits them. They also have the option to top-up the existing coverage so they can provide their family with more financial security.

d. Addition to Financial Planning

e. Addition to the Business

This policy can be used for raising their staff retention by offering their main employees the insurance coverage that they deserve.

f. Multi-Currency

With this policy, the policyholders have the option to select from 4 major currencies. The plan is available in AED, USD, EURO, or GBP. In case the unfortunate happens with the insured individuals, their family gets the selected lump sum in that currency, which the policy owners select at the beginning of the plan.

g. Options Benefits

Enhance the policy by going for additional benefits. They can choose from the following options.

Premium Waiver due to Disability: MetLife waives off all the remaining amount of MetLife life insurance premium that has to be paid by the policyholders to make sure the policy remains active and the objectives remain unaffected if the policy owner becomes disabled.
Permanent Total Disability or PTD: Any person who is dependent on an income for paying bills must have a financial safety net in case they become incapable of working due to a sickness or an accident. Such a benefit will help them in avoiding severe financial issues by letting them meet their financial obligations via guaranteed payments of up to USD two million in cash and receive their PTD benefit of 20% for six months, 30% for 12 months, and 50% for 24 months.
Critical Illness: On getting diagnosed with any of the listed 32 critical illnesses, MetLife pays out a lump sum amount of up to USD one million.

Eligibility Criteria and Documents Required:

The eligibility criteria for the plan is as follows-

The age eligibility for MetLife Life Insurance plan based on the policy term is mentioned in the table below-

Policy Term	Eligible Age Limit
5-10	20-65
11	20-64
12	20-63
13	20-62
14	20-60
15	20-59
16	20-58
17	20-57
18	20-56
19	20-55
20	20-54
21	20-53
22	20-52
23	20-51
24	20-50

Documents Required are as follows-

Valid Emirati ID
Passport for expatriate applicants
Salary Slip
Bank Statement
Medical Certificate

How to Apply for MetLife Life Insurance Policy?

Applying for MetLife life insurance is quite simple and easy task. You can do it online/offline based on your convenience. In order to apply online all, you need to do is visit the MetLife website, choose the plan, upload your documents, make the payment and you’re done. The fine print of the policy will be delivered to your address by post. However, if you want to apply for MetLife Life Insurance plan offline you can simply visit the nearest branch and contact the helpdesk for application related process and queries.

How to File Claims for MetLife Life Insurance Policy?

Death benefits for MetLife Life insurance policies are only payable after the nominee or beneficiary presents relevant documents proving the demise of the policyholder with the claim form. Furthermore, the nominee needs to present documents for:

Age of the Policyholder
Title of the Nominee/Claimant

Claimant/nominee filing the claim can send their documents and claim form to the claim department of MetLife UAE at the following address/email-

O Box no. 379916
lifeclaims(@)metlife(dot)ae

Why Choose MetLife?

MetLife also known as Metropolitan Insurance is one the biggest market player’s in the insurance market. The company renders services in more than 60 countries with 90 million customers. Considering the vast market in the middle-east MetLife started providing insurance and finance related services in the region and soon turned out to be a leading brand in the industry.

MetLife is globally known for its innovative, user-friendly and cost-effective comprehensive insurance and finance solutions. If you are looking for a reliable and pioneering brand that offers best-in class products as affordable prices then MetLife is the perfect choice for you.