MetLife is one of the largest insurance companies across the globe. It offers a plethora of insurance and investment products to help individuals keep themselves and their families financially protected for the long term.
Among its most notable products is the MetLife Future Protect plan. Let’s uncover its crucial details in terms of benefits, inclusions, exclusions, eligibility, application procedure, and much more!
The MetLife Future Protect policy is a whole of life insurance plan. It not only serves as an investment but also provides financial shelter to the insured’s loved ones. This hybrid plan offers flexibility in customising savings and protection needs.
This plan comprises several additional living benefits to ensure financial safety for the policyholder’s dependents. Furthermore, this policy is also suitable for businesses and their employees.
Why Choose the MetLife Future Protect Plan?
Given below are the key features and benefits of Future Protect by MetLife —
Multiple Premium Payment Mode Options
Customers can choose from a range of payment mode options. For regular premium, annual, semi-annual, and quarterly options are available. On the other hand, those who opt for a monthly single premium can pay on an annual or monthly basis.
Worldwide Coverage
The plan offers global coverage, i.e. in case the policyholder moves out of the UAE, the policy will still remain valid.
USD Currency
The MetLife Future Protect plan is available in USD currency.
Loss of Life Benefit
Within the Loss of Life benefit, policyholders can choose between single life or joint life coverage.
Built-in Benefits
Within this category, a wide range of coverage options are available, including second medical opinion, terminal illness benefit, and MetLife discount card. Note that the MetLife discount card is only offered to the residents.
Optional Benefits
Along with the basic plan, MetLife Future Protect policyholders can opt for add-ons — accidental loss of life, critical illness, permanent and total disability, and waiver of premium on loss of life or disability.
Permanent and Total Disability
A guaranteed cash payment is given to the beneficiary in case of permanent and total disability due to sickness or accident.
Permanent Partial Disability
A guaranteed cash payment is offered by the provider in case of permanent partial disability caused by an accident.
Wide Range of Investment Choices
Individuals can choose from any of the three investment options available — aggressive, conservative, and balanced strategy.
Availability of Insurance Cover
Single and joint life insurance cover options are available.
Free Partial Withdrawal
MetLife Future Protect policyholders can make 2 partial withdrawals each year (subject to maximum withdrawal limits).
Flexible Payment Term
The minimum payment tenure for regular premium customers is 5 years. The maximum payment tenure for regular premium customers is up to the age of 95 years, whereas for single premium individuals, it is 1 year.
No Limits for Maximum Annual Premium
There is no set limit for maximum annual premium.
30 Days Free Look Period
A 30-day free look period is provided to the customers, starting from the date of issuance. During this period, individuals may cancel their policies.
Grace Period
A grace period of 60 days is allowed in case the policyholder fails to make payment in any month.
Inclusions of the MetLife Future Protect Plan
The MetLife Future Protect comprehensive plan consists of the following inclusions —
Loss of Life Benefit
The insurer offers two options under this coverage —
Single Life: It is a type of conventional life insurance that covers only one individual.
Joint Life: It has further two categorisations —
First Loss of Life
In case one of the protected members loses their life, the dependent mentioned in the policy receives the life insurance benefit or the account value (whichever is higher). The policy then terminates.
Both Loss of Life
In case one of the protected members loses their life, MetLife pays out the share of the insured’s life insurance benefit to the beneficiary and the policy continues to remain active for the living insured.
Terminal Illness Benefit
The basic death benefit is accelerated if the insured gets diagnosed with a terminal illness.
Accidental Loss of Life
In case of accidental loss of life, the insurer pays up to 3 times the basic plan coverage, with a maximum limit of USD 5 million. In scenarios like accidental loss of life in common carriers, the benefit doubles up to a maximum of USD 10 million.
Critical Illness Cover
For standalone critical illness, MetLife pays out a lump sum of up to USD 500,000. Up to USD 1 million is offered in case of accelerated critical illness. There are three cover options available under this benefit —
Cancer only
3 critical illnesses — cancer, stroke, and first heart attack
32 critical illnesses
Provided below is a list of the 32 critical illnesses for which policyholders are covered —
Stroke
Heart Valve Surgery
End-Stage Lung Disease
Muscular Dystrophy
Motor Neuron Disease
Bacterial Meningitis
Multiple Sclerosis
Systematic Lupus Erythematosus with Lupus Nephritis
Cancer
Fulminant Hepatitis
Kidney Failure
Total Paralysis (Loss of use of limbs)
Parkinson’s Disease
Blindness (Complete loss of sight)
Major Organ/ Bone Marrow Transplantation
Encephalitis
First Heart Attack
End Stage Liver Failure
Aplastic Anaemia
Apallic Syndrome
Brain Tumour
Coma
Total Loss of Hearing (Deafness)
Progressive Scleroderma
Major Burns
Primary Pulmonary Hypertension
Total Loss of Speech
Poliomyelitis
Head Trauma
Coronary Artery By-pass Surgery
Alzheimer’s Disease/ Severe Dementia
Surgery to Aorta
Permanent and Total Disability
In case of permanent and total disability due to sickness or accident, MetLife pays guaranteed cash of up to USD 2 million. The percentage of cash payout depends on the period of the permanent and total disability condition —
Permanent and Total Disability Period (Consecutive)
Percentage of Permanent and Total Disability Benefit
6 Months
20%
12 Months
30%
24 Months
50%
Permanent Partial Disability
If permanent partial disability happens due to an accident, the provider pays out guaranteed cash of USD 1 million. The percentage of this benefit is paid out for the respective loss.
In addition to this, a weekly income of up to USD 2,000 is given to the insured during their treatment period in the hospital in case of an accident or sickness.
Exclusions of the MetLife Future Protect Plan
Although there are no MetLife Future Protect disadvantages, it’s worth noting that the plan doesn’t provide any coverage under certain circumstances —
Suicide
Suicide within 2 years from the date of policy issuance is not covered.
Acts of War
Total and permanent disability or loss of life due to acts of war are not covered. Note that it is applicable only if the policyholder has not opted for war risk coverage.
Country Specific Exclusions
This MetLife Future Protect exclusion applies to individuals residing in certain sanctioned countries, including the Crimea region, Iran, Cuba, North Korea, and Syria.
What are the Risk Factors Involved with the MetLife Future Protect Plan?
In certain scenarios, policyholders may get less returns. Some of these reasons include:
Tax Rules (Only if applicable)
If the policyholder misses out on any premium payment
Withdrawals made by the policyholder
The performance of the investment accounts selected by the policyholder (fluctuation as per current market conditions)
What are the Investment Options Available in the MetLife Future Protect Plan?
MetLife Future Protect policyholders can choose from a range of investment strategies available —
Aggressive Strategy
This strategy is curated for customers who exclusively focus on capital growth and are prepared to take investment risks.
Balanced Strategy
It is ideal for individuals who have a primary aim of capital preservation or modest capital growth and are ready to take a medium level of investment risk.
Conservative Strategy
Those who want to focus on minimising losses and are not ready to take any significant investment risk can opt for this category of investment strategy.
MetLife Future Protect Plan: Premium
The minimum annual premiums for the MetLife Future Protect plan are listed below —
Single Premium
USD 15,000
Regular Premium
USD 1,800
MetLife Future Protect Plan: Fees and Charges
The fees and charges related to the MetLife Future Protect plan are provided in the table below —
Monthly Management and Expense Charge
Account Value Range
M&E Charge
USD 0 to USD 24,999
1.25%
USD 25,000 +
0.75%
Regular Premium Charge
Policy Charge
Premium Charge Rate
Month 1 to 12
30%
Month 13 to 36
18%
Month 37 to 48
17%
Month 49 to 60
16%
Month 61+
0%
Single Premium
Policy Month
Premium Charge
Month 1 to 12
7%
Month 13+
0%
Administration Charges
Policy Month
Annual Charge
Month 1+
USD 180
Regular Premium Surrender Charges
Policy Month
Surrender Charge
Policy Month
Surrender Charge
1
20%
34 to 37
9%
2
19%
38 to 41
8%
3 & 4
18%
42 to 44
7%
5
17%
45 to 47
6%
6 & 7
16%
48 to 50
5%
8
15%
51 & 52
4%
9
14%
53 & 54
3%
10 & 11
13%
55 & 56
2%
12 to 19
12%
57 to 59
1%
20 to 27
11%
60+
0%
28 to 33
10%
Single Premium Surrender Charges
Policy Month
Surrender Charges
1
6.5%
2
5.5%
3
5%
4
4.5%
5
3.5%
6
3%
7
2.5%
8
2%
9
1.5%
10
1%
11
1%
12
0.5%
13+
0%
What are the Eligibility Criteria for the Metlife Future Protect Plan?
The provider has certain requirements to be eligible for the plan and its coverages —
Issue Age
1 Month to 65 Years
Maturity Age
95 Years
Accidental Loss of Life (Optional Benefit)
Entry Age
18 to 60 Years
Expiry Age
75 Years
Critical Illness
Standalone Critical Illness
Entry Age: 18 - 60 Years
Expiry Age: 75 Years
Accelerated Critical Illness
Entry Age: 18 to 60 Years
Expiry Age: 95 Years
Waiver of Premium on Loss of Life or Disability
Entry Age
20 - 55 Years
Expiry Age
65 Years
Permanent and Total Disability
Entry Age
18 - 55 Years
Expiry Age
65 Years
Permanent Partial Disability
Entry Age
18 - 55 Years
Expiry Age
70 Years
Hospitalisation
Entry Age
18 - 55 Years
Expiry Age
70 Years
Which Documents are Required to Buy MetLife Future Protect Plan?
To apply for this policy, one must submit a set of documents for the purpose of verification. Here is the list of commonly required documents —
Duly filled and signed application form
A valid proof of identity (e.g. National ID, passport)
A valid proof of residential address (e.g. Utility bills)
A valid proof of income (e.g. Salary certificate)
Previous 3 or 6 months’ bank statements
Medical reports
Note: The provider may ask for additional documents according to their requirements.
How to Apply for MetLife Future Protect Plan?
With the digital platform of Policybazaar.ae, you can easily apply for the MetLife Future Protect plan. Mentioned below are the instructions for the same —
Visit our website: Visit policybazaar.ae.
Locate Life Insurance: Move to the ‘Life Insurance’ section from the homepage.
Fill in the Lead Form: Fill out the lead form with the correct info to view appropriate quotes.
Get in Touch with a Representative: Upon applying for the plan, one of our customer service professionals will connect with you and guide you through the next process.
How to File a Claim for MetLife Future Protect Plan?
It is crucial to be aware of the MetLife Future Protect policy claim process to avoid any later troubles. Here’s how to file a claim:
Inform MetLife: Notify MetLife about the claim at the earliest.
Complete the Documentation: Download and fill out the claim form. Attach and upload the required documents.
Submit the Documents: Submit the claim form with the attached documents to lifeclaims@metlife.ae.
Assess the Claim Form: MetLife will go through the form and the documents.
Approval of the Claim Request: Upon approval of the claim request, the provider will initiate the claim process.
Payment: The claim amount will be paid to the beneficiary as per the policy guidelines.
It is mandatory to submit the stated list of documents to successfully carry out the claim process — failing to do so can lead to the rejection of your claim request. Here is a checklist of the documents required to file a claim —
The 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 detailed medical report
Original Policy document
Copies of passports or ID cards of deceased and beneficiary
Complete address and telephone number of the beneficiary
Original death certificate
Police and Forensic reports in case death was due to an accident
Note: Individuals can have a one-on-one conversation with the representatives to get the necessary claim assistance. The representatives assist our customers with any queries, including the policy claim terms and guidelines, necessary documents, claim-related updates, coordination with the insurer to ensure easy and convenient claim processing, and more.
You can dial 042472904 to have a word with our experts for claim assistance.
Let’s take a look at some of the most frequently asked questions regarding the MetLife Future Protect plan!
Are non-residents eligible to opt for MetLife Future Protect optional benefits?
No, unless the policy document mentions any such criteria, optional benefits are not available for non-residents.
It is possible to change investment accounts during the policy term?
Yes, policyholders can change their existing investment accounts according to their risk appetite and current market conditions.
How long is the waiting period for critical illness coverage?
The waiting period of 90 days is applicable from the date of reinstatement date.
What is the minimum partial withdrawal amount available?
The minimum withdrawal amount is USD 500.
Is a reinvestment option available with the MetLife Protect plan?
Yes, policy reinvestment is allowed within 3 years of the expiry of the grace period.
Is the cost of insurance charges for add-ons fixed in a MetLife Future Protect Plan?
No, these charges are subject to change as per the age of the policyholder.
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