MetLife Investor Advantage Plan

In the UAE, one of their investment plans that is gaining traction is the MetLife Investor Advantage Plan. This policy is a savings and investment solution that provides flexible premium payments and offers a variety of investment strategies tailored to individual goals and risk appetites.

Let’s scroll down to discover more about the dynamic features and benefits of the MetLife Investor Advantage Plan in this detailed write-up.

What is the MetLife Investor Advantage Plan?

The MetLife Investor Advantage Plan is a tailored savings and investment solution, especially suited for those looking to actively shape their financial future. This plan stands out as it empowers you to pay your premium over a period of one year, after which you can continue investing towards your long-term wealth and accumulation goals.

This flexibility in premium payment is a significant advantage, particularly for individuals who might receive irregular but substantial financial gains like bonuses, inheritances, or profits from other investments. The plan effectively allows you to transform these earnings into potential future returns. It's not just limited to personal finances - the plan also doubles as a capital investment solution for small business owners.

Moreover, the Investor Advantage MetLife Plan is enriched with built-in health and wellness benefits. These additional features enhance the plan's value, providing more than just financial growth but also contributing to your overall well-being.

Why Should You Choose the MetLife Investor Advantage Plan?

By choosing the MetLife Investor Advantage Plan, you can enjoy numerous benefits and features, making it an attractive option for those seeking a comprehensive investment solution. Here are some of the key advantages and features of this plan -

• Minimum Annual Premium: Starting at USD 30,000, catering to different investment capacities
• Maximum Annual Premium: Up to USD 10,000,000, accommodating larger investments
• Flexible Premium Payments: You can select a premium amount that suits your requirements, with options for monthly or annual payments.
• Short-Term Contribution for Long-Term Investment: Pay your premium over 1 year and invest until the age of 95.
• Portable Worldwide Cover: The plan offers global coverage, providing protection even if you leave the UAE (subject to certain terms and conditions).
• 30-Day Free Look Period: A trial period during which you can cancel the plan and receive a premium refund
• Up to 4 Free Partial Withdrawals Per Year: This feature provides flexibility in accessing funds.
• Reinstatement Option: Policy reinstatement is allowed within 3 years of the grace period expiry.
• Unlimited and Free Fund Switching: Allows you to switch investment strategies anytime without extra charges
• Payout Options: Includes partial withdrawals and lump-sum payouts
• Loss of Life Benefit: 101% of the account value, providing financial security for beneficiaries

Inclusions of the MetLife Investor Advantage Plan

The MetLife Investor Advantage Plan includes several key inclusions, each designed to offer comprehensive benefits and flexibility to suit a variety of financial needs and goals.

• Loss of Life Benefit: This plan offers a Loss of Life Benefit, which is 101% of the account value. This feature provides financial security and peace of mind.
• Built-in Health Benefits:
  • Second Medical Opinion: It provides access to renowned medical experts in the case of critical illness diagnosis. This ensures that you receive expert opinions and recommendations for your health condition.
  • MetLife Discount Card: With this card, you can get up to 30% exclusive discounts at specific medical providers in the UAE, including services for dental and optical treatments. These benefits contribute to your overall wellness and health management.
• Investment Choices: The plan offers three distinct investment strategies, each tailored to different risk appetites —
  • Conservative Strategy: Designed for investors who prefer to minimise losses and are cautious about taking significant investment risks. Under this strategy, the prime focus is to safeguard the principal amount.
  • Balanced Strategy: Suitable for those seeking a balance between capital preservation and modest capital growth, accepting a medium level of investment risk
  • Aggressive Strategy: Aimed at customers focused on capital growth and willing to take on significant investment risks for potentially higher returns

Each of these strategies is crafted to cater to different investment objectives and risk tolerances, providing flexibility and control over your investment choices. You also have the option to switch strategies at any time, which allows you to adapt to changing market conditions or personal circumstances​.

​​​Exclusions of the MetLife Investor Advantage Plan

The MetLife Investor Advantage Plan includes certain exclusions that are important to consider when evaluating this investment option. Here is the key exclusion of the plan:

• Sanctioned Countries: If the insured resides in any of the sanctioned countries, they are excluded from the plan. As of April 2022, these countries include the Crimea region, Cuba, Iran, North Korea, and Syria. 

Note that this list is subject to changes over time.

Eligibility Criteria for the MetLife Investor Advantage Plan

The table below outlines the eligibility criteria for the MetLife Investor Advantage Plan, providing a clear overview of the requirements to be fulfiled to participate in this investment opportunity -

Documents Required for the MetLife Investor Advantage Plan

For the MetLife Investor Advantage Plan, the general list of documents required includes the following -

• Identification Proof: A valid government-issued ID, such as a passport or national ID card
• Proof of Address: A recent utility bill, bank statement, or similar document showing the current residential address
• Income Proof: Documents such as salary slips, tax returns, or bank statements to verify income
• Application Form: A completed and signed application form for the specific insurance plan
• Medical Records (if required): Any relevant medical history or health records, if required
• Complete Address and Telephone Number: Information of the beneficiary for contact purposes

It's important to note that these are general requirements. Depending on your specific profile and circumstances, MetLife may request additional documents if necessary.

How Does Partial Withdrawal in the MetLife Investor Advantage Plan Work?

The MetLife Investor Advantage Plan allows for partial withdrawals, providing flexibility in accessing your funds when needed.

Here's a detailed explanation of how these withdrawals work -

• Number of Withdrawals: You are entitled to up to four free partial withdrawals each policy year. This feature helps you cover unexpected expenses.
• Minimum and Maximum Withdrawal Amounts
  • The minimum amount you can withdraw is USD 500.
  • The maximum amount for a free partial withdrawal depends on the timing relative to the premium payment term.
• Withdrawal Criteria Before and After the Premium Payment Term
  • Before the End of Premium Payment Term: The remaining account value after the withdrawal should be at least equal to the total premiums paid up to the point of withdrawal.
  • After the End of the Premium Payment Term:
    • For a one-year premium payment term, the maximum withdrawal is up to 70% of the account value.
    • The minimum remaining account value after withdrawal should be the greater of USD 30,000 or two times the Surrender Charge applicable at the point of withdrawal.
• Surrender Charges
  • Partial withdrawals that do not meet these criteria will be subject to the full surrender charge.
• Grace Period
  • If the net cash surrender value on any monthly due date is insufficient to cover the monthly deduction, a grace period of 60 days is allowed for the payment of a premium sufficient to cover the monthly deduction.

Charges Associated with the MetLife Investor Advantage Plan

Here is a detailed breakdown of the charges involved with the MetLife Investor Advantage Plan -

• Management & Expense Charge (M&E Charge): This charge varies based on the account value and the policy year. For instance:
  • In the first policy year, the charge is 1.5% regardless of the account value.
  • From the second policy year onwards, the charge ranges from 1.5% to 0.9%, decreasing as the account value increases.
  • These charges are subject to change with prior notice to the policy owner.
• Premium Load: A load of 4.5% is applied on excess premiums for all policy years.
• Premium Charge: An annual premium charge of 1% is applied for the first five years of the policy. Note that there is no charge from the sixth year onwards.
• Fund Management Charge: This charge is the estimated annual cost levied by fund managers for managing your investments. The specific amount is deducted from the fund assets by the investment account managers and varies depending on the fund.
• Surrender Charges
  • In the first 12 months, the charge ranges from 4% to 2%.
  • From the 13th to the 24th month, the charge ranges from 2% to 1%.
  • From the 25th to the 36th month, the charge ranges from 1% to 0%.
  • After 36 months, there is no surrender charge.

How to Apply for the MetLife Investor Advantage Plan?

Policybazaar.ae, a leading online insurance marketplace in the UAE, is recognised for offering a wide range of insurance and financial products. As the first international venture of the Policybazaar Group, registered in Dubai, it plays a pivotal role in transforming the insurance and financial services landscape in the region.

The platform is designed with a vision to make these services widely accessible and trustworthy for everyone in the UAE. Policybazaar.ae stands out for its commitment to providing the best and most cost-effective solutions, catering to the diverse needs of its customers. It emphasises ease of access and reliability so that users can find and compare various products effortlessly, all in one place.

Furthermore, for those looking for a MetLife Investor Advantage review, Policybazaar.ae provides insights and comparisons to help you make an informed decision.

To apply for the MetLife Investor Advantage Plan through the Policybazaar.ae platform, follow these steps -

1. Visit Policybazaar.ae: Head to the website of Policybazaar.ae.
2. Navigate to Term Life Insurance: Once on the site, look for the term life insurance section. Here, you can find various insurance options, including the MetLife Investor Advantage Plan.
3. Fill Out the Lead Form: In this section, you will find a lead form. Fill this out with the required details. This form is essential to initiate the process and provide the necessary information for a representative to assist you.
4. Wait for Contact: After submitting the form, a representative from Policybazaar.ae will contact you. They will guide you through the application process, helping you understand the plan's details and how it aligns with your financial goals.

Claim Process for the MetLife Investor Advantage Plan

To file a claim under the MetLife Investor Advantage Plan, the following documents are typically required:

• Claimant's Statement: Completed and signed by the beneficiary
• Physician's Statement: Completed, signed, and stamped by the physician who last attended the deceased or a detailed medical report
• Original Death Certificate: Necessary to validate the claim
• Police and Forensic Reports: Required if the death was due to an accident
• Original Policy Document: To verify the policy details
• Copies of Passports or ID Cards: For both the deceased and the beneficiary

Additionally, you can get claim assistance via the Policybazaar UAE official website. With Policybazaar UAE, you can receive the necessary guidance and assistance throughout the claim procedure. The website offers a user-friendly platform that simplifies the submission of necessary documents and expedites the claim process.

Frequently Asked Questions