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Met Magic Plus
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UIN: 117L062V01
Features
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"IN THIS POLICY, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER"
Indeed, when it comes to determining your family, particularly your child's destiny you would want to make the right choices so that nothing is left to chance. However it is your decision today that is going to ensure that your family's future turns out to be exactly as you had planned.
MetLife presents 'Met Magic Plus', a unit linked Non-Medical Regular Premium Life Insurance plan with which you can secure your child's future. A flexible plan, Met Magic Plus provides the benefit of insurance protection to your family, particularly your child, even when you are not around.
What's more - buying this plan is extremely simple without the requirement to undergo any medical examination.
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| Minimum Entry Age of the Parent* (Life Insured) |
18 years |
| Maximum Entry Age of the Parent* (Life Insured) |
55 years |
| Maturity Age of Parent(Life Insured) |
70 years |
| Policy Term Options |
10, 15, 20, & 25 years (subject to maximum entry age) |
| Minimum Annualized Premium |
Term 25: Rs 12000; Term 20: Rs 15,000; Term 15 & Term 10: Rs 20,000 (For Term 10: Rs 30,000 if chosen premium frequency is other than Annual mode) |
| Maximum Annualized Premium |
Rs. 1,00,000 for all modes |
| Sum Assured Multiple |
5 times of annualized premium |
* Age at last birthday
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Death Benefit
In the unfortunate event of death of the parent (person insured) during the term of the policy, the child (beneficiary) will be paid the Sum Assured.
In addition, the plan will continue and add all future premiums that would otherwise have been accumulated had the parent (person insured) been alive, into the fund on an annual basis as and when each such regular premium falls due.
The policy shall continue to be in-force, with future premiums waived, till the date of maturity or the date of notification of the death of the child (Beneficiary), whichever is earlier.
Maturity Benefit
On maturity the Fund Value in the Unit Account is paid. The fund can be payable either as:
(i) One lumpsum or
(ii) Over a period of 5 years as a part of the settlement options.
Guaranteed Loyalty Additions
The unique feature of this policy Guaranteed Loyalty Additions are into the fund in form of units in equal annual installments from the 6th year onwards till the end of the term provided:
- All Regular Premiums due till date have been paid and the policy is in force.
- Death claim has not been paid during the policy term.
The schedule of credit of Guaranteed Loyalty Additions varies in accordance with the Policy Term chosen and is shown below.
| Guaranteed Loyalty Addition as % of First Year Annualized Premium |
| Time of Addition |
Policy Term |
| 10 |
15 |
20 |
25 |
| 6th year onwards till maturity |
8% |
5.6% |
5.33% |
4% |
For the purpose of Guaranteed Loyalty Additions, only the First Year Annualized Regular Premiums paid shall be considered. Top-Up Premiums are not eligible for Loyalty Additions.
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1. Sum Assured paid immediately in case of Parent's demise.

2. Guarantee of policy continuance and Fund Value paid at Policy maturity in case of the untimely demise of a parent.

3.
*Tax Benefits as applicable.
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Disclaimers:
- For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale”. Insurance is the subject matter of the solicitation.
-*Tax benefits are as per the provisions of Income Tax Act, 1961, and the same are subject to amendments made thereto from time to time, please consult your tax consultants for more details.
- The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAV’s of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.
- MetLife India Insurance Co. Ltd. is only the name of the Insurance Company and Met Magic Plus is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.
LD/2009-10/EC707/877
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