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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.
Low-cost short term protection plan
Easy buying procedure
Get tax benefits
In the event of your (life insured) unfortunate demise during the term of the policy, the nominee will receive the sum assured.
No benefit is payable at maturity of the policy.
No Loan benefit is applicable under this plan.
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).
No surrender value is payable under this policy.
|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||-|
No riders are available with this plan.
Plan qualifies as per the provisions of the Income Tax Act,1961 for the tax benefits under Section 80C and 10 (10D).
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.Buy Now