Life insurance major MetLife launches online term plan

SRINAGAR: MetLife, one of the leading private life insurers, Tuesday announced the launch of its new online term plan—MetLife Mera Term Plan (MMTP).
In a release issued here, it said MMTP is “a comprehensive and flexible” term plan, offering multiple options to “financially protect” one’s family. The
“The product covers a customer’s need ranging from a simple term cover, monthly income for the family, child’s education expenses, joint cover for the spouse, option to increase sum assured depending on life stages…,” the company said.
It said the product, with flexibility in its core design, allows the clients “create their own financial-protection plan from the comfort of their home anytime, anywhere”.
The “simple and hassle-free” online buying process designed by MetLife will help the customers with “easy navigation, click to call facility for instant query support, flexibility to track and review application”, it said.
Speaking on the launch, Tarun Chugh, Managing Director and CEO of PNB MetLife, said, “In today’s age where providing everything personalised has become a norm, insurance is also getting aligned to the same. I believe that MMTP scores over all the existing term products, combining simplicity and flexibility to cater to different customer needs”.
He said people are typically keen to get flexibility in their cover related to life stage and are concerned about their family’s financial future or their child’s education if something were to happen to them.
“The product addresses this need and with an option of including the spouse in the same plan, customisation of payout options at an affordable cost, this takes care of about every requirement for financial protection that a person may have. In addition, the payment process redefines customer convenience with mobile wallets along with other regular online payment options,” he said.
The plan, he said, offers protection to policyholders at a “very affordable cost”.
Its unique features include joint life cover, increasing monthly income option growing at 12% per annum, life stage benefit, child benefit option to cover one’s child’s education expenses till they turn 21, he said.
For customers’ convenience in making premium payments, MetLife has tied up with Airtel Money, Paytm, Mobikwik along with regular, credit or debit card and net banking options, he added.