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Metropolitan Life Insurance
Metropolitan Life Insurance is the long-term life insurance arm of the Metropolitan group that offers risk management, investments and financial planning to consumers.
There is little point to growing one’s wealth and not taking care of those finer details such as disability, dread disease and health.
Metropolitan Life has taken into account the numerous risks that happen in life into their life insurance plans such as
- the matter of longevity
- potential disability
- dread disease
- time of death guarding against these risks.
Metropolitan Life offers the following products and covers related to the above-mentioned risks:
Metropolitan Life products:
- Metropolitan Life Cover provides a flexible type of investment which can be used to provide protection for credit, career, retirement planning, estate and investment.
- The “all causes” life cover policy is limited to accidental death and decreases every year. This is because the payout is meant to cover the mortgage which should decrease each and every year, as the bond is paid off and decreases annually; therefore the benefit will decrease too.
Metropolitan Life critical illness cover:
- In the event of the insured having a stroke or heart attack, or if the insured is diagnosed with cancer or requires bypass surgery, Metropolitan Life will pay out a lump sum for these events. The pay-out is usually based on covering any lifestyle adjustments as well – these could include modifying a home, for example.
- The critical illness benefit will cover a broad spectrum of illnesses.
Metropolitan Life disability cover
- Metropolitan Disability offers both occupational disability cover as well as comprehensive insurance.
- Should the insured not be in a position to work in his or her present occupation (based on education, experience and skills), the insured will be paid out a lump sum.
Benefits of Metropolitan Life cover:
- Free cover for accidental death if Metropolitan Life accept your policy and you die before the first premium is paid.
- As the insured, you can get as much as 50% cover paid out to you before you pass away if you become terminally ill and your life expectancy is 12 months.
- To cater for inflation, you will have the opportunity to increase your cover amount.
- Accidental or natural death are both covered.
- Should you pay all of your premiums, you can get 10% of your premiums back every five years if you choose the CashBack benefit.
Metropolitan Life cover will ensure that the educational needs of your dependent children will be taken care of.
It helps to guarantee the ongoing sustainability of a business concern following the death of a business partner (Key person cover).
- Death of a breadwinner in a family is generally financially stressful on the remaining family members, therefore, life cover helps to replace lost income.
- This product also provides funds for day-to-day living expenses, mortgage payments and outstanding credit obligations.
MetLife, Inc. is the holding company for the Metropolitan Life Insurance Company, best known as MetLife. MetLife is one of the leading global providers of insurance, annuities, and employee benefit programmes, with 90 million clients in over sixty countries
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