Group Death & Disability Insurance
MetLife’s group death and 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:
- 1. Flat coverage (coverage is the same for all employees)
- 2. Earnings base coverage (multiple of monthly basic income or gross salary)
- 3. Position base coverage (determined by employee designations)
Learn more about Group Death and Disability Insurance.
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 (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
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)
| 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% |
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.
100% of all eligible employees must be enrolled.
Flexible payment modes are available ranging from annual to quarterly.
This PDF file provides a glossary of insurance terms and definitions that are commonly used in the insurance business. Click Here
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