MetLife Three Payment Plan (M3PP) is an endowment assurance policy that provides insurance protection and attractive returns on premiums.
For policy term 12 to 15 years:
Lumpsum 100% of FA less debt + Accrued Reversionary Bonus +Terminal Bonus
For policy term 18 years and above:
During the first 1/3rd of the policy term: 100% of FA less debt + Accrued Reversionary Bonus +Terminal Bonus
After the first 1/3rd of the policy term till the 2/3rd of the policy term:
125% of FA less debt + Accrued Reversionary Bonus +Terminal Bonus
After the first 2/3rd of the policy till maturity:
150% of FA less debt + Accrued Reversionary Bonus +Terminal Bonus
A) 25% of the Face Amount is paid at the end of one-third of the term of the Policy.
B) Another 25% of the Face Amount is paid at the end of two-third of the term of the Policy.
The remaining 50% of the Face Amount is paid at maturity, along with Reversionary Bonus and Terminal Bonus (if applicable).
The 1st and/or 2nd installment amount has no bearing on the Benefits receivable by the Beneficiary(ies) in case of Insured's death. Even if the Insured dies after the 2nd installment has been paid, the Beneficiary(ies) receives the full Death Benefit plus the Reversionary and Terminal Bonuses. In the event of Insured's death, no deduction is made for the installments already paid.
A) Accidental Death and Permanent Total Disability will be equal to basic Face Amount but not exceeding BDT 5,000,000.
B) Accidental Dismemberment will be up to basic Face Amount but not exceeding BDT 5,000,000.
C) Accident Medical expense Reimbursement limit per accident will be up to 15% of basic Face Amount but not exceeding BDT 750,000.
You can also add the following optional Riders to your Policy by paying additional Premium
A) MediCare
B) Waiver of Premium
C) Hospital Care
D) Accident Indemnity Certificate
E) Critical Care
F) Limited Accident Insurance Certificate
G) Accidental Death Benefit
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Disclaimer:
1. This Policy is underwritten by American Life Insurance Company (‘MetLife’) and is always subject to the terms and conditions described in the Policy. The information contained in this page is intended only for general understanding of the customers. The terms, conditions and exclusions are included in the contract of insurance. For any discrepancies between the information contained herein and contract of insurance, the later shall prevail.
2. If any discrepancies are found between Bangla and English version of this page, English version shall be considered as correct.
3. This Policy is not available in the United States, or offered to U.S. persons; for purposes of this statement, a U.S. person is a citizen or resident of United States (including a U.S. permanent resident residing outside the U.S.), U.S. partnership and any trust that is controlled by one or more U.S. persons and is subject to the supervision of a U.S. Court.
4. The term “Rider” wherever used herein shall mean and include any supplementary contract(s) attached with the basic Policy. The Rider is not a standalone product and it requires a basic Policy (the information/list of eligible basic Policy will be available to MetLife Financial Associate(s) and the required basic Policy(ies) shall be determined by MetLife) to become operative. The Rider (if any) attached with the basic Policy, will be automatically terminated on the termination and/or expiry date of the Rider or at the end of the Premium payment term, whichever is earlier.
