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New Delhi, July 19, 2006: MetLife announced that it has launched
Met Smart Plus and Met Smart Premier – new and improved variants
of their unit-linked Permanent Insurance plan – Met Smart,
which was included in their product portfolio last year. Designed
in accordance with the recently issued IRDA’s ULIP guidelines
both Met Smart Plus and Premier retain their previous quality of
transparency while providing life cover up to the age of 100. These
products also offer the flexibility of choosing one’s cover
as well as the amount of premium paid. With a "never-before"
choice of six investment fund options to suit one’s risk/return
profile Met Smart Plus and Met Smart Premier allows the flexibility
to switch between funds to suit ones risk profile.
Met Smart (Plus & Premier) have a minimum sum assured of Rs.
60,000 with no upper limit. It has another unique feature of flexible
premium paying option after the third policy year. A policy holder
also has the option of increasing or skipping premium payments as
and if the situation so demands .There is the option to withdraw
from funds anytime after the third policy year to meet one’s
financial requirements. The first two partial withdrawals in each
policy year are free of charge. Met Smart (Plus & Premier) premiums
also qualify for tax deductions under Section 80C of the Income
Tax Act, 1961 and its benefits – including Partial Withdrawals
and Maturity Proceeds qualify for deduction under section 10(10D)
of the Income Tax Act, 1961.
According to MetLife, these two products cater to people who range
from the absolute risk averse to the ones who are willing to take
risks. Met Smart Plus and Met Smart Premier have been designed keeping
IRDA’s recent stipulations in mind. There has been a perceived
increase in awareness of Unit-linked plans and most customers today
are aware of the options available.
MetLife has voluntarily formulated a unique internal accreditation
programme for their financial advisors in view of the fact that
any unit-linked product requires an in-depth knowledge of the risks
involved which needs to be put forth to the customers. After sales
are made, the company also has a call-out programme to ascertain
whether the customers have been appropriately briefed about the
product by the advisor. MetLife also has a dedicated committee with
international expertise, which looks into the appropriate investments
of funds, he said.
About MetLife
MetLife India Insurance Company Private Limited (MetLife) is an
affiliate of MetLife, Inc. and was incorporated as a joint venture
between MetLife International Holdings, Inc., The Jammu and Kashmir
Bank, M. Pallonji and Co. Private Limited and other private investors.
With over 138 years of experience, the MetLife companies serve
millions of customers in the Americas and Asia with one goal in
mind – to build financial freedom for everyone. The MetLife
companies are a leader in group benefits that serve 88 of the top
one hundred Fortune 500® companies, and provide benefits to
37 million employees and family members through its plans sponsors
in the U.S. The MetLife companies are also ranked #1 in group life
and #1 in commercial dental in the U.S. The MetLife companies are
the number one life insurer in the U.S. with approximately US$3.3
trillion of life insurance in force. In India, MetLife was incorporated
in 2001, and aims to differentiate itself through customized need
based selling, simple and innovative products, and technology-backed
service experience, to tread its path to build financial freedom
for everyone.
For further enquiries, contact:
Pooja Singh
Brand Comm
9811400806
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