MetLife Term Insurance in UAE

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MetLife UAE, renowned for its commitment to providing security and peace of mind, offers a wide range of life insurance products. These products are designed to be both simple and flexible so that you can get the best-value options without much hassle.

Among its offerings, MetLife term insurance plans stand out with two major options — the MetLife Forever Plan and the MetLife Live Life Now Plan. Recognised as the Life Insurance Company of the Year in 2019, Health Insurer of the Year in 2020, and Insurer of the Year in 2021 by various industry awards, MetLife UAE certainly stands as a reliable choice for life insurance needs​​.

Let's dive into both these plans and explore how they can align with your specific requirements.

Why Should You Choose the MetLife Term Insurance Plans?

Choosing MetLife term life insurance plans is a wise decision for several reasons:

  • Worldwide Coverage: Both plans provide global coverage and provide financial protection regardless of location changes​​​​.
  • Level Benefit Plan: The MetLife Live Life Now Plan guarantees fixed coverage throughout the policy term​​.
  • Flexible Policy Terms: The policy term of the Live Life plan ranges from 5 to 30 years, offering flexibility to suit different requirements.
  • Flexible Premium Payment Options: Offers various intervals for premium payments including monthly, quarterly, semi-annually, and annually
  • 30-Day Free Look Period: This trial period allows policyholders to cancel their plan within 30 days of issuance if unsatisfied​​.
  • Grace Period: A grace period of up to 90 days for premium payments ensures continuous coverage even if a payment is missed​​.
  • Multiple Discounts: You can avail of a discount on single premium on MetLife Forever plan such as a 5% discount for three years and a 10% discount for five years.

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Best MetLife Term Insurance Plans

MetLife offers two standout term insurance plans in the UAE —

MetLife Forever Plan:

This is an income protection policy for individuals aged 18 to 59. It provides monthly financial support in case of permanent disability or serious health issues. 

The plan ensures lifetime financial security, worldwide coverage, and flexible payment options. It's ideal for those seeking peace of mind for themselves and their families, especially if they travel or live in different countries​​.

MetLife Live Life Now Plan:

This term life policy is designed to financially protect the insured’s dependents if the policyholder falls ill or passes away. It also caters to the financial protection requirements of businesses or employees. 

The plan, available in AED currency, offers global coverage and level benefit plan options. It's flexible in terms of policy terms and includes a loss of life benefit.

Key Details of MetLife Term Insurance Plans

MetLife offers two comprehensive term insurance plans, each with distinct features and benefits. Here's a comparison of the key aspects of the MetLife Live Life Now Plan and the MetLife Forever Plan —

Aspects MetLife Live Life Now Plan MetLife Forever Plan
Coverage Type Term life policy Income protection policy
Worldwide Coverage Global coverage, except in sanctioned countries Worldwide coverage (excluding sanctioned countries)
Policy Terms 5 to 30 years Annual, 3-year, and 5-year single premium options
Premium Payment Options Regular Pay: Monthly, quarterly, semi-annually, and annual modes Annual, semi-annual, quarterly, and monthly modes
Loss of Life Benefit Equal to the coverage amount selected initially N/A
Additional Benefits Second Medical Opinion, MetLife Discount Card, and Optional Add-ons Monthly Benefit Payments and Discounts on Single Premiums
Free Look Period 30 days 30 days
Grace Period 90 days
  • 60 days for annual mode 
  • 30 days for other modes

MetLife Forever Plan

The MetLife Forever Plan is an income protection policy for individuals aged 18 to 59. It provides monthly financial support in case the insured individual becomes permanently disabled or sick and is unable to work. This plan is beneficial for providing financial security for oneself and one's family and is valid worldwide.

Inclusions of the Plan

  • Permanent Total Disability Due to Accident or Sickness: Monthly benefits in case of permanent disability
  • Loss of Life/Dismemberment/Permanent Total Disability Due to Accident: Financial support in these events
  • Permanent Partial Disability Due to Accident or Sickness: Payments based on the specific loss incurred

Exclusions of the Plan

  • Suicide
  • War and Terrorist Acts
  • Pre-existing Conditions
  • Hazardous Sports and Activities
  • Mental and Nervous Disorders
  • Alcohol and Drug Abuse

Premium of the Plan

The premiums, determined as per the occupational class and the benefit amount chosen, are divided into classes based on risk -

  • Class A: Lower risk occupations, lower premiums
  • Class B: Slightly higher risk, adjusted premiums
  • Class C and D: Higher risk occupations, higher premiums

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 3,934 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 the Plan

  • Age at Entry: Varies based on the premium mode (18-59 years for annual mode, 18-57 years for 3-year single premium, and 18-55 years for 5-year single premium)
  • Occupational Classification: Classified into A, B, C, and D categories based on risk
  • Residency: Excludes residents in certain sanctioned countries

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MetLife Live Life Now Plan

The MetLife Live Life Now Plan is a term life insurance policy that primarily aims to provide financial security to the dependents of the insured individual in case of illness or death. It is also suitable for protecting businesses or employees.

The key features of this plan include -

  • Global coverage
  • Fixed policy coverage amount throughout the term
  • Availability in UAE Dirham
  • Flexible policy term ranging from 5 to 30 years

Plan Inclusions

The policy includes several benefits -

  • Worldwide Coverage: Validity across countries except for sanctioned ones
  • Level Benefit Plan: Fixed coverage amount during the policy term
  • Loss of Life Benefit: Coverage equals the selected amount during the initial policy period
  • Second Medical Opinion: Access to medical professionals and free services at eminent U.S. medical centers
  • MetLife Discount Card: Up to 30% discounts at specified UAE medical providers, including optical and dental treatments
  • Optional Benefits: Accelerated critical illness coverage for 5 critical illnesses and accidental loss of life coverage
  • Premium Payment Options: Regular Pay, with monthly, quarterly, semi-annually, and annual modes

Exclusions of the Plan

Claims under certain scenarios are excluded from the plan -

  • Suicide: Not covered if it occurs within 2 years of policy issuance
  • War Acts: Excluded unless war risk coverage is opted for
  • Country-Specific Exclusions: No coverage in sanctioned countries like Crimea, Cuba, Iran, Syria, and North Korea

Optional Riders

Accelerated Critical Illness Benefit Rider

  • Provides a lump sum payment if the insured is diagnosed with any of the covered critical illnesses.
  • Covers 5 critical illnesses: Cancer, Heart Attack, Stroke, Kidney Failure, and Major Organ Transplant
  • The benefit amount is deducted from the base policy’s death benefit

Accidental Loss of Life Benefit Rider

  • Offers an additional benefit amount in case of accidental death
  • This rider supplements the base policy's loss of life benefit

Premium of the Plan

The minimum annual premium is AED 734.

Eligibility Criteria for the Plan

The eligibility criteria for various coverages within the plan are as follows -

  • For Second Medical Opinion and Critical Illness Coverage:
    • Entry Age: 21-60 Years
    • Expiry Age: 65 Years
  • For Accidental Loss of Life Coverage:
    • Entry Age: 21-60 Years
    • Expiry Age: 65 Years

Fees and Charges Associated with the Plan

The policy fees, inclusive of the premium, are based on the frequency of premium payment -

  • Monthly: AED 19.80
  • Quarterly: AED 59.40
  • Semi-Annual: AED 114.40
  • Annual: AED 220

Difference Between Term Life and Whole Life Insurance

The difference between term life and whole life insurance MetLife lies primarily in their coverage duration and cash value accumulation. Term life insurance provides coverage for a specified period, while whole life insurance offers lifelong coverage along with a savings component. 

Here's a table summarising the key differences -

Parameters Term Life Insurance Whole Life Insurance
Coverage Duration Limited period (e.g., 10, 20, or 30 years) Lifelong coverage
Premiums Generally lower, fixed for the term Higher but fixed for life
Cash Value No cash value accumulation Builds cash value over time
Purpose Mainly for income replacement and specific financial obligations Long-term financial planning, including legacy building
Flexibility Lower flexibility, typically no savings or investment component Higher flexibility, often includes options for loans against cash value

How to Apply for MetLife Term Insurance Plans?

Policybazaar.ae is your one-stop solution to seamlessly apply for MetLife term insurance plans. Policybazaar UAE is an online platform that offers a wide array of insurance options, including term insurance plans from various providers. This website allows you to compare different insurance plans, providing a clear understanding of each policy's features and benefits. 

With an easy-to-navigate interface, Policybazaar UAE makes it easier to find the right insurance plan for your requirements.

To apply for MetLife term insurance plans through Policybazaar UAE, follow these steps:

  • Visit the Official Website of Policybazaar UAE: Start by visiting the Policybazaar UAE website, which serves as a one-stop shop for exploring various insurance plans.
  • Locate the Term Insurance Page: On the website, look for the term insurance section to access information about MetLife term insurance rates and other relevant details.
  • Fill Out the Lead Form: To get a MetLife term insurance quote, fill in the required details on the lead form. This usually includes personal and health information, as well as your coverage preferences.
  • Wait for a Policybazaar Representative: Once you submit the form, a representative from Policybazaar UAE will contact you. They will guide you through the rest of the application process, so that you understand the terms, and help you finalise your insurance plan.

Claim Process for MetLife Term Insurance Plans

To file a claim for MetLife term life insurance plans, follow these simple steps and ensure the availability of the required documents -

Claim Process for the MetLifeTerm Insurance Plans​

  • Inform MetLife about the claim as soon as possible.
  • Provide necessary documents, including policy papers, proof of the event (like medical reports for disability), and identity verification of the insured.
  • Submit the claim and documents to MetLife's Claims Department.
  • MetLife will review the claim and documents for validation.
  • Once approved, the company will process the claim.
  • The claim amount will be then paid as per the policy terms.

Documents Required for the Claim Process

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

Have a look at some frequently asked questions related to MetLife term insurance plans in the FAQ section next -

What is MetLife Term Insurance?

MetLife Term Insurance is a type of life insurance policy that provides coverage for a specific period or ‘term’. If the insured individual passes away during this term, the beneficiaries receive the death benefit.

How long can the coverage period be for MetLife Term Insurance?

The coverage period for MetLife Term Insurance, typically ranging from 10 to 30 years,  varies as per the chosen plan.

Are the premiums for MetLife Term Insurance plans fixed or variable?

Premiums for most MetLife Term Insurance plans are fixed and will not change during the term of the policy.

Does MetLife Term Insurance offer any living benefits?

Certain MetLife Term Insurance plans may offer living benefits such as riders for critical illness, although these vary by policy.

Are there any additional riders I can add to my MetLife Term Insurance?

Yes, MetLife offers various riders such as accidental death benefits, critical illness, and disability riders that can be added to your term insurance policy.

Can I get MetLife Term Insurance if I have a pre-existing medical condition?

Eligibility for MetLife Term Insurance with a pre-existing condition depends on the nature of the condition and policy terms. It's best to discuss your specific situation with a MetLife or Policybazaar UAE representative.

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