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MetLife Grameen Ashray

What is the Plan all About?

MetLife Grameen Ashray is a pure term insurance plan that provides protection for your family against uncertainties of life. This plan ensures financial freedom of your loved ones, when you are not around.

What are the Key Features?

Low-cost short term protection plan

Easy buying procedure

Hassle-free documentation

Get tax benefits

What are the Plan benefits?

Death Benefit

In the event of your (life insured) unfortunate demise during the term of the policy, the nominee will receive the sum assured.

Maturity Benefit

No benefit is payable at maturity of the policy.

Loan Benefit

No Loan benefit is applicable under this plan.

Revival Benefit

A policy can be revived within a period of 2 years (during the policy term) from the date of first unpaid premium. You need to submit the proof of continued insurability and make the payment of all the due premiums with the interest rate (chargeable @9% per annum). When it comes to revival of a lapsed policy, you are charged with Rs 250 as revival fee (subject to change in future).

Surrender Value

No surrender value is payable under this policy.

Who can Buy the Rider?

Factor Minimum Maximum
Age (as on last birthday) 18 Years 55 Years
Age at Maturity - 60 Years
Policy Tenure 5 Years -
Premium Paying Term Same as policy term -
Premium Paying Mode Annually Only -
Annual Premium Rs 61 Rs 1208
Sum Assured Rs 5,000 Rs 50,000
Freelook Period 15 days from the receipt of the policy -
Grace Period 30 days -
Plan Type Offline -

Is any Rider Available with this Plan?

No riders are available with this plan.

Is the Plan, eligible for Tax Benefit?

Plan qualifies as per the provisions of the Income Tax Act,1961 for the tax benefits under Section 80C and 10 (10D).

How Does the Plan Work?

Age of Life Insured: Ram, 40 years

Sum Assured Opted: Rs 25,000

Policy Term Chosen: 5 years

Annual Premium: Rs 395

Death Cover: In the event of death of Ram, the nominee will receive Rs 25,000 and policy terminates.

Maturity Benefit: If he survives the policy term, no maturity benefit is payable.

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