Metlife DPS Super

"A blog about social networking and web design." Health Tips For All, Entertainment, News. Its Fine and Lovely.

Regular savings & protection will make your dreams come true
As a sensible and responsible individual, you must be looking for the best possible avenues to grow your hard-earned money.
An ideal financial plan for you may be the one that accumulates your money with reasonable returns as well as provides protection to you & your family against uncertainties. If you are looking for such a plan, MetLife’s DPS Super can offer you the solution!
MetLife’s DPS Super is a savings and protection plan that provides an attractive Maturity Value and a substantial Accidental Benefit.
Product Overview:
You can select your plan from the following 3 options:

Plan	Features
DPS Super – Gold	Maturity Value + Life Coverage + Accident Coverage + Critical Illness   & Waiver of Premium Benefits
DPS Super – Silver	Maturity Value + Life Coverage + Accident Coverage
DPS Super – Bronze	Maturity Value + Accident Coverage

1. DPS Super – Gold Plan
   
    This Plan provides you an opportunity for-

• Earning reasonable returns leading to attractive maturity value to meet your financial planning needs.
• Enjoying life insurance coverage under which the Face Amount (Face Amount is defined as the DPS Super  annual premium times the policy term) will be paid in case of the death of the insured due to covered cases anytime while the policy is in-force regardless of the number of premiums paid. If the Account Value at the time of death is higher than the Face Amount, the Account Value will be      paid.
• Enjoying additional Accidental Benefit under which 2 times the Face Amount will be paid in the event of Accidental Death or Accidental Permanent & Total Disability; consequently enjoying a total coverage of 3 times the Face Amount in case of Accidental Death. In case of Accidental Dismemberment the additional Accidental Benefit may reach up to 2 times the Face Amount depending on the type and extent of loss.
• Benefitting under Critical Guard from a 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 of or actual undergoing of surgery for, as the case may be, the following illnesses/medical conditions as      defined in the Policy Document:
• 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 
• Benefitting from waiver of the Premium under Family protection Rider–Disability for the remaining term of the Policy in case of Permanent Total Disability due to Accident and Sickness. 

2. DPS Super – Silver Plan

    This Plan provides you an opportunity for –

• Earning reasonable returns leading to attractive maturity value to meet your financial planning needs.
• Enjoying life insurance coverage under which the Face Amount (Face Amount is defined as the DPS Super annual premium times the policy term) will be paid in case of the death of the insured due to covered cases anytime while the policy is in-force regardless of the number of premiums paid. If the Account Value at the time of death is higher than the Face Amount, the Account Value will be paid.
• Enjoying additional Accidental Benefit under which 2 times the Face Amount will be paid in the event of Accidental Death or Accidental Permanent & Total Disability; consequently enjoying a total coverage of 3 times the Face Amount in case of Accidental Death. In case of Accidental Dismemberment the additional Accidental Benefit may reach up to 2 times the Face Amount depending on the type and extent of loss. 

3. DPS Super – Bronze Plan

    This Plan provides you an opportunity for –

• Earning reasonable returns leading to attractive maturity value to meet your financial planning needs.
• Enjoying Death benefit under which the Account Value or the premiums paid for the Basic Policy, whichever is higher, will be paid.

Enjoying additional Accidental Benefit under which 2 times the Face Amount (Face Amount is defined as the DPS Super annual premium times the policy term) will be paid in the event of Accidental Death or Accidental Permanent & Total Disability. In case of Accidental Dismemberment, the additional Accidental Benefit may reach up to 2 times the Face Amount depending on the type and extent of loss.

Product Details

   Some important features of the above 3 plans:

• Eligibility:

           Minimum: 18 years

           Maximum: 54 years 

• Term:

           Minimum: 5 years

           Maximum: 20 years

• Currency:

           Bangladesh Taka (Tk.)   

• Face amount:

           Minimum: Tk. 60,000

           Maximum: Tk. 10,000,000 

• Maximum critical illness benefit:

          Tk. 2,000,000. However for housewives the maximum benefit is

         Tk. 1,500,000. 

• Mode of payment:

         Monthly, Quarterly, Half-Yearly or Yearly

• Premium:

         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.

       

Other Terms and Conditions:

• 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.
• Maturity value is calculated following deduction of Cost of Insurance, Expenses and the charges of the plan and by crediting a net Investment Yield. The maturity value is not guaranteed and will vary based on investment performance. The maturity value will be lower for policies paying premium more frequently than yearly.
• During the 1^st policy year, the policy does not acquire any cash surrender value, which is the account value on the date of surrender less the surrender charge and processing fee. Upon surrender at any time after the expiration of the 1st policy year and before maturity, the Policy owner will receive the cash surrender value. A surrender charge will be applicable if the policy is surrendered during the first 5 years. The cash surrender value may be less than the premium paid.
• 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 90% 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. 

      

Disclaimers:

1. The information given here is intended for general consumer understanding only. Detailed benefits, terms, conditions and exclusions are included in the Policy Document. In case of any discrepancy between the information described in the website and the policy document, the latter shall prevail.
2. The product 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 vision of a U.S. Court. 

Note: To know about this product more, please contact our Financial 

              Associate and read the Product Brochure carefully.