MetLife Depositor’s Protection Scheme (MDPS) is a life insurance solution that combines savings, life insurance coverage and medical benefits. The scheme helps Policyowners maintain the value of their savings while providing financial protection against death, critical illness, hospitalization, accidental death and disability, depending on the selected plan and benefits.

MetLife MDPS provides a combination of life insurance, savings and health-related benefits under one Policy. Depending on the selected MDPS plan and coverage, the Policy may include life insurance coverage, critical illness coverage, in-hospital cash benefits, additional accidental coverage, Waiver of Premium, maturity value, One by MetLife services and discounts on medical and diagnostic services.

MetLife MDPS provides a fixed daily cash benefit when the Insured is hospitalized because of an accident or sickness. The in-hospital benefit applies for up to 30 consecutive days per hospitalization and for a total of 360 days during the coverage period. The Policy provides this benefit even when the Insured receives treatment at a free hospital.

The daily in-hospital coverage equals 0.5% of the Face Amount or BDT 20,000, whichever is lower.

MetLife MDPS can provide critical illness coverage equal to 50% or 100% of the Face Amount. The applicable percentage depends on the Insured’s issue age, chosen Policy term and selected coverage.The Policy provides the benefit when the Insured receives a diagnosis of a covered critical illness or undergoes a covered surgery, subject to the Policy terms and conditions. The maximum critical illness coverage available under MDPS is BDT 40 lakh.

MetLife MDPS calculates the life insurance benefit according to the selected Platinum, Gold, Silver or Bronze plan.

For Platinum, Gold and Silver plans, the Face Amount equals the annual Premium multiplied by the selected Policy term. If the Account Value at the time of death exceeds the Face Amount, MetLife pays the Account Value after deducting any indebtedness.

For the Bronze plan, MetLife pays either the Account Value or the total Premiums paid at the time of death, whichever is higher, after deducting any indebtedness.

MetLife MDPS can provide an additional benefit for accidental death, Permanent Total Disability and Accidental Dismemberment. In the event of accidental death or an accident resulting in Permanent Total Disability, the additional benefit equals two times the Face Amount or BDT 4 crore, whichever is lower.

For Accidental Dismemberment, the benefit may reach up to two times the Face Amount or BDT 4 crore, whichever is lower. The amount depends on the type and extent of the covered loss.

Yes, the MetLife MDPS Waiver of Premium benefit allows MetLife to pay future Premiums on behalf of the Policyowner under specified circumstances. This benefit applies if the Policyowner becomes permanently and totally disabled because of an accident or sickness before reaching 60 years of age, subject to the applicable Policy terms and conditions.

The Waiver of Premium benefit helps keep the MDPS Policy active when a covered disability affects the Policyowner’s ability to continue paying Premiums.

MetLife MDPS provides 100% of the Account Value at Policy maturity after deducting any indebtedness. The Account Value represents the value accumulated under the Policy according to its applicable terms and conditions.

The actual maturity amount therefore depends on the Account Value available on the maturity date and any outstanding indebtedness attached to the Policy.

MetLife MDPS Platinum customers can access One by MetLife Premium Services without additional cost. These services include doctor video calls, doctor audio calls, doctor chat services and other health-related features.

Gold Plan customers with a minimum Face Amount of BDT 500,000 can also access the Premium Services of One by MetLife. Other MetLife and non-MetLife customers may access complementary benefits available through the platform.

MetLife MDPS customers can receive discounts of up to 40% on selected medical and diagnostic services. Customers can use these discounts at participating hospitals, clinics and diagnostic centres included in the MetLife Life Card Discount Providers List.

The available discount may vary by service and participating healthcare provider. Customers should review the current provider list before using a medical or diagnostic service.