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MET LIFE - Mortgage Protector LP
Plan Highlights
| Key Feature |
Non Participating Mortgage Reducing Term Assurance specially designed to protect the dependents of those opting for housing loans. It is available for terms of 5 through 25 years. |
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| Best Suited For |
People who want to ensure dependents aren?t burdened with debt in case of untimely death of policyholder at an affordable premium amount. |
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| Features |
1) The plan provides lump sum on death of the insured during the term of the policy. The lump sum payable starts with initial Face Amount and decreases every year and is as shown in the policy schedule.
2) The amount of coverage is level during the policy year and changes only on the following policy anniversary.
3) Premium Paying Term (PPT) is restricted to two ? thirds of the policy term (rounded to the nearest integral year) over which the loan is repaid.
4) Protection under this Policy continues even after the premium paying term, provided premiums have been paid for the full term.
5) Premiums cease at death or on expiry of term whichever is earlier.
6) It does not have any guaranteed surrender value.
7) ) The plan is a Non Participating one and hence all Premium rates, Sum Assured and Surrender Values are guaranteed upfront. Surrender Value is applicable only in case of single Premium option.
7) No riders are available with this policy
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Benifits
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| Maturity Benifits |
No maturity benefits associated with the policy.
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| Survival Benifits |
Not Applicable |
| Death Benifits (Natural) |
Guaranteed Sum Assured is payable to the Nominee / Beneficiary. |
| Death Benifits (Accidental) |
Not Applicable |
Other Benefits
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Not Applicable
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Policy Features
| Type |
Term Policy |
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| House Loan |
No |
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| General Loan |
No |
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| Premium Paying options |
Yearly, Half-Yearly, Quarterly, Monthly, Salary Saving Scheme |
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| Period of Life Insurance |
Longer than premium paying term |
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