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Group Death & Disability Insurance

Giving employees peace of mind against the uncertainties of death and disability with a complete suite of insurance options from MetLife Bangladesh.
MetLife’s group death & disability insurance offers a range of benefits that can be adapted to meet the requirements of individual business structures. The coverage provides payment to beneficiaries in the event of death, partial or total permanent disability. Insurance coverage can be determined in the following ways:
  • Flat coverage (coverage is the same for all employees)
  • Earnings base coverage (multiple of monthly basic income or gross salary)
  • Position base coverage (determined by employee designations)
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Group life coverage (for employees only) Collapsed Expanded

Group life insurance coverage provides payment to the beneficiary; if the Insured Employee dies due to sickness or accident. Claim will be up to the insurance amount against the insured employee.

Accidental Death coverage (for employees Only) Collapsed Expanded

Accidental Death (AD)

This coverage provides Accidental Death coverage (in addition to the group life coverage) in the event of the insured employee’s death due to accident.

Disability coverage (for employees only) Collapsed Expanded

Permanent Total Disability (PTD)

This coverage provides payment if the insured employee becomes totally and permanently disabled resulting from a bodily injury or disease that entirely prevents the employee from performing any occupation for remuneration or profit.

·         Payment is made in sixty equal installments

·          Observation period is 12 months

·         Amount of insurance applicable is equal to the amount of the basic group life insurance

 

Permanent Partial Disability (PPD)

This coverage provides a payment to the insured employee in the event of a complete and irrecoverable physical loss or loss of use of specific body parts resulting from a bodily injury or disease according to the schedule of benefit in percent (%) under PPD.

Schedule of Benefit under Permanent Partial Disability

Percentage of Individual Life Insurance Amount

For loss of arm between shoulder & wrist

50%

For total loss of hand below wrist

50%

For total loss of leg at hip

50%

For total loss of leg between knee and hip

50%

For total loss of one eye

50%

For deafness of both ears

50%

For total loss of four fingers and thumb

40%

For total loss of four fingers

35%

For total loss of leg below knee

35%

For total loss of whole thumb

25%

For total loss of all toes

15%

For deafness of one ear

15%

For total loss of whole index finger

10%

For total loss of whole middle finger

06%

For total loss of whole ring finger

05%

For loss of great toe

05%

For total loss of whole little finger

04%

For loss of other than great, if more than one toe, each

01%

Eligibility criteria Collapsed Expanded

All full-time permanent employees, who have not reached their sixtieth (60th) birthday, and are actively at work in the policyholder’s offices in the country of coverage. The age limit may be extended on case to case basis especially when coverage is renewed.

Participation requirements Collapsed Expanded

100% of all eligible employees must be enrolled.

Payment modes Collapsed Expanded

Flexible payment modes are available ranging from annual to quarterly.

Glossary of insurance terms Collapsed Expanded

This PDF file provides a glossary of insurance terms and definitions that are commonly used in the insurance business. Click Here