.Metlife Three Payment Plan (3PP) Plus
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The Three Payment Plan Plus (3PPP) provides high insurance protection and attractive returns on your premium.
How does the plan work?
The unique feature of the plan is that MetLife pays you 50% of the Face Amount (FA) much before the maturity of the policy. It combines both Death and Living Benefits in the most beneficial and convenient manner to you or your beneficiary(ies).
Protection All Through
Important, 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 FACE AMOUNT plus accrued Bonuses. In the event of death, no deduction is made for the installments already paid.
Bonuses & Dividends
MetLife’s 3PPP policy participates in the profits declared in the form of Reversionary Bonuses. 3PPP policies with terms 18 years and above are also entitled to Capital Growth Dividends (Special Bonus). From the 2nd year onwards, all premiums paid by 3PPP policy owners start building the Cash Value of the policy and MetLife adds the applicable Bonus amounts to it. The current bonus rates may change in the future. However, the declared bonuses are paid at the time of Maturity/Death Claim Settlement. In case the policy is surrendered, the Cash Value of Reversionary Bonus is payable.
Personal Accident Coverage:
If you qualify for Accident Coverage, this Plan also provides following additional Benefits in case of your Death, Disability or Injury due to Accident within the Premium Paying Period:
Personal Accidental Coverage provides Maximum of Tk. 20,00,000 and
its proportionate amount as mentioned above. For Housewives, and
insureds of age 25 or below, the Maximum Coverage would be Tk.
10,00,000.
Other Attractive Features:
Subject to policy terms and conditions
Eligibility:
Minimum Age: 30 Days Maximum Age: 60 Years
Term:
12, 15, 18, 21 & 24 Years
Currency:
Bangladesh Taka (BDT)
Face Amount:Minimum BDT 100,000
Maximum BDT 10,000,000
Gender:
Male and Female
Exception & Exclusion:
This policy does not cover and no payment shall be made in respect of Death on account of suicide (within contestable period), war or Acquired Immune Deficiency Syndrome (AIDS). Please refer to policy document for details on exceptions & exclusions.
Disclaimers:
How does the plan work?
The unique feature of the plan is that MetLife pays you 50% of the Face Amount (FA) much before the maturity of the policy. It combines both Death and Living Benefits in the most beneficial and convenient manner to you or your beneficiary(ies).
- The Living Benefits consists of, among others, Three (3) Installment Payments:
- 25% of the Face Amount is paid at the End of One-Third (1/3rd) of the Term of the Policy.
- Another 25% of the Face Amount is paid at the End of Two-Third (2/3rd) of the Term.
- The remaining 50% of the Face Amount is paid with Reversionary Bonus and Capital Growth Dividends (if applicable) at Maturity.
Protection All Through
Important, 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 FACE AMOUNT plus accrued Bonuses. In the event of death, no deduction is made for the installments already paid.
Bonuses & Dividends
MetLife’s 3PPP policy participates in the profits declared in the form of Reversionary Bonuses. 3PPP policies with terms 18 years and above are also entitled to Capital Growth Dividends (Special Bonus). From the 2nd year onwards, all premiums paid by 3PPP policy owners start building the Cash Value of the policy and MetLife adds the applicable Bonus amounts to it. The current bonus rates may change in the future. However, the declared bonuses are paid at the time of Maturity/Death Claim Settlement. In case the policy is surrendered, the Cash Value of Reversionary Bonus is payable.
Personal Accident Coverage:
If you qualify for Accident Coverage, this Plan also provides following additional Benefits in case of your Death, Disability or Injury due to Accident within the Premium Paying Period:
| Accidental Death Benefit | 100% of Face Amount |
| Permanent Total Disability Benefit | 100% of Face Amount |
| Permanent Partial Disability For the Following Losses | |
| For Loss of both Hands or Feet or Sight of Eyes | 100% of Face Amount |
| For Loss of One Hand and One Foot | 100% of Face Amount |
| For Loss of Either Hand/Foot and Sight of One Eye | 100% of Face Amount |
| For Loss of Hearing of Both Ears | 100% of Face Amount |
| For Loss of Speech | 100% of Face Amount |
| For Loss of Either Hand or Foot | 50% of Face Amount |
| For Loss of Sight of One Eye | 50% of Face Amount |
| For Loss of Thumb and Index Fingers | 25% of Face Amount |
| Medical Expenses Reimbursement (Maximum) | 15% of Face Amount |
Other Attractive Features:
- Your Premium will never increase, given that you have provided correct information in the policy application form.
- Cash Values, Paid-Up Values and Extended Term Insurance Values are available.
- The paid premiums are Income Tax Deductible (Subject to Income Tax laws).
Eligibility:
Minimum Age: 30 Days Maximum Age: 60 Years
Term:
12, 15, 18, 21 & 24 Years
Currency:
Bangladesh Taka (BDT)
Face Amount:Minimum BDT 100,000
Maximum BDT 10,000,000
Gender:
Male and Female
Exception & Exclusion:
This policy does not cover and no payment shall be made in respect of Death on account of suicide (within contestable period), war or Acquired Immune Deficiency Syndrome (AIDS). Please refer to policy document for details on exceptions & exclusions.
Disclaimers:
- If the Premium remains unpaid after grace period (31 days from premium due date) and has not acquired a Basic Cash Value, Policy shall not provide any value/benefit.
- There will be no Surrender Value if the policy is surrendered anytime during the first 2 years. Upon surrender at any time after 2 years the policy owner will receive cash surrender value as per cash value chart. You will not get refund of your Full Premium if you surrender your policy.
- This is a product brief only – Not a contract or binding document. Your Policy Document will contain the exact terms of coverage and exclusions. Please see our Product Brochure to learn more.
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