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DPS Super

An ideal combination of insurance protection and savings by MetLife Bangladesh for you and your family

Everyone knows that savings can make dreams come true. And given that it takes hard work to save regularly, it makes sense for that you would look for the best possible avenues to grow your money.

 

MetLife’s DPS Super is a life insurance policy that accumulates your money, while also providing you with life insurance and medical coverage protection - for both yourself and your family.

DPS Super is a savings and protection plan that provides an attractive maturity value and substantial accidental benefits.

  • A combination of savings and protection
  • Is available in three attractive packages to suit your needs
  • Offers an opportunity to attach critical supplementary benefits
  • Comes with a Waiver of Premium benefit

Product Overview

DPS Super comes in three different packages and with the following benefits:

Plan       Features
DPS Super Gold Maturity Value + Life Coverage + Accidental Coverage + Critical Illness and Waiver of Premium Benefits
DPS Super Silver Maturity Value + Life Coverage + Accidental Coverage
DPS Super Bronze Maturity Value + Accidental Coverage
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DPS Super – Gold Plan Collapsed Expanded

This Insurance Plan provides you:

  • Earn returns, leading to an attractive maturity value to meet your financial planning needs
  • Face Amount* or Account value payment whichever is higher amount will be paid in case of death of the insured due to covered cases while the policy is in-force regardless of the number of premiums paid.
  • Additional Accidental Benefit contains:
    • Two times the Face amount in case of Accidental Permanent & Total Disability
    • Three times the Face amount in case of Accidental Death
    • Upto two times the Face amount in case of Accidental Dismemberment
  • Lump sum payment equal to 100% or 50% of the Face Amount (depending on your entry age , policy term & your choice) in case of diagnosis or actual undergoing of surgery as a critical guard benefit for the following conditions
    • Stroke
    • Cancer (excluding skin cancer)
    • First Heart Attack
    • Coronary Artery Surgery
    • Other Serious Coronary Artery Diseases
    • Heart Valve Surgery/Replacement
    • Pulmonary Arterial Hypertension ( Primary)
    • Benign Brain Tumor
  • Premium waiver benefits under family protection Rider–Disability for the remaining term of the Policy in case of Permanent Total Disability due to Accident and Sickness. 

 

*Face Amount is defined as the DPS Super  annual premium times the policy term

DPS Super – Silver Plan Collapsed Expanded

This Insurance Plan provides you:

  • Earn reasonable returns, leading to an attractive Maturity Value to meet your financial planning needs
  • Face Amount* or Account Value, whichever is higher, will be paid in case of death of the insured while the policy is in-force regardless of the number of premium paid.
  • Additional Accidental Benefit contains:
    • Two times of the Face Amount will be paid in case ofAccidental Health or  Accidental Permanent & Total Disability
    • Three times of the Face Amount will be paid in case of Accidental Death
    • Up to two times of the Face Amount will be paid depending on the type and extent of loss in case of Accidental Dismemberment

 

*Face Amount is defined as the DPS Super  annual premium times the policy term

DPS Super – Bronze Plan Collapsed Expanded

This Insurance Plan provides you:

  • Earn reasonable returns, leading to an attractive Maturity Value to meet your financial planning needs
  • Face Amount* or Paid Premium, whichever is higher, will be paid in case of death of the insured while the policy is in-force regardless of the number of premium paid.
  • Additional Accidental Benefit contains:
    • Two times of the Face Amount will be paid in case ofAccidental Health or  Accidental Permanent & Total Disability
    • Three times of the Face Amount will be paid in case of Accidental Death
    • Up to two times of the Face Amount will be paid depending on the type and extent of loss in case of Accidental Dismemberment

 

*Face Amount is defined as the DPS Super  annual premium times the policy term

Premium Collapsed Expanded
  • Minimum Premium: Tk. 1,000 Monthly, Tk. 3,000 Quarterly, Tk. 6,000 Half-Yearly or Tk. 12,000 Yearly.
  • Maximum premium: Any amount which does not result into face amount  exceeding Tk. 10,000,000.
  • Accident coverage expires at the age of 65 years.
  • The critical illness and waiver of premium coverage (apply to Gold Plan only) expire at age 60 years.
  • Housewives may apply for Gold Plan without waiver of premium benefit under family protection rider disability.
  • Waiting period (applies to critical illness benefit under Gold Plan only): 180 days since supplementary contract effective date or the last coverage commencement date, whichever is    later. Only those critical illness that are first diagnosed or for which surgery has been done after 180 days waiting period are covered.
  • Income tax savings on your paid premiums, subject to tax laws.
  • All illustrations are for standard lives only and shall vary for substandard lives depending on underwriting rules.
  • Underwriting rules: Existing Company rules will apply.
Eligibility Collapsed Expanded

Minimum: 18 years

Maximum: 54 years 

Term Collapsed Expanded

Minimum: 5 years

Maximum: 20 years

Face amount Collapsed Expanded

Maximum: BDT 10,000,000        

Maximum critical illness benefit Collapsed Expanded

BDT 2,000,000. However for housewives the maximum benefit is BDT 1,500,000

Mode of Payment Collapsed Expanded

Monthly, Quarterly, Half-Yearly or Yearly

Other Terms and Conditions Collapsed Expanded
  • The maturity value can be received as a lump sum or used to purchase an annuity or a combination of both. The annuity values will be determined by the Company at the time of maturity.
  • The critical illness and waiver of premium coverage may not be cancelled by the insured or by the company during the first 2 years from the effective date while the policy is in-force (applies to Gold Plan only)
  • The policy does not cover Death on account of suicide (within first 2 years of the policy), war, Acquired Immune Deficiency Syndrome (AIDS), pre-existing condition or other exclusions as specified in the Policy Document.
  • The policy may lapse with no value if premium is not paid regularly as due. Monthly cost of insurance, expenses and other charges will be deducted till maturity or until the net cash surrender value exhausted, whichever is earlier.
  • Policy Loan will be allowed up to a maximum of 85% of the Net Cash Surrender Value.
  • Tax advantages regarding the premium payment are subject to Tax laws/rules of the government. Please consult your Tax advisor for confirmation and advice. 
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

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