Life insurance is designed to provide you and your family financial security, even if you cannot provide for them. Life is uncertain, and accidents, no matter how undesirable they may be, can happen any time. These events can result in financial instability, which can significantly affect the lives of the people who depend on you.
MetLife Life Insurance gives a lump sum payment to your beneficiaries. This can be used to continue paying for mortgage, bills, and other expenses.
MetLife Protect is MetLife’s retail life insurance product. It allows you to personalise and customise your policy based on the protection that your family needs. MetLife recognises that no insurance needs are the same, which is why they allow their clients to choose the extras that they want to add to their policy as their life needs change.
MetLife Protect offers the following insurance products.
• Life Cover (Life +): MetLife’s Life Cover provides beneficiaries with a lump sum when the insured dies or has a terminal illness. It features a death benefit, terminal illness benefit, immediate expense benefit, and allows for up to five beneficiaries.
• Total Permanent Disability Cover (TPD+): MetLife’s Total Permanent Disability Cover is designed to help you in times of total disability or when you lose the capability to work and earn an income. It covers disabilities caused by serious illnesses and injuries from accidents. It provides you with a lump sum that you can use for your treatment and to pay any financial obligations.
• Income Cover (Cover+): Income cover is designed to help you when you need significant time off from work to recover from a serious illness or injury. It will pay you up to 75% of your income while you are still unable to work. The amount can be used to pay for your monthly bills and daily living expenses. It will also provide your beneficiaries up to three times your monthly cover amount in case of death.
• Trauma Cover (Trauma+): MetLife’s Trauma Cover can help you if you are diagnosed with a serious illness, such as cancer, stroke, or heart attack. This product can help cover your medical and living expenses while you focus on your recovery.
Before you buy an insurance product, it pays to do your research on its benefits. This is to ensure that you get the product that suits your needs and lifestyle.
Below are the pros of choosing MetLife Life Insurance
• Indexation – Inflation can decrease the value of your investments and savings over time. MetLife ensures that your cover will remain sufficient in the future. Your cover amount will be increased on each of your policy anniversaries. This is to make sure that your cover amount keeps up to date with inflation and can support your needs even years from now.
• Customisation – MetLife understands your needs change over time. That’s why it allows you to update your life cover and add some Extra Covers so that you will have a comprehensive life insurance cover.
• Immediate Expenses Benefit – While your life insurance cover is being processed, MetLife pays your family an advance of $30,000 to cover funeral and other immediate costs.
• Multiple Beneficiaries – You can enrol up to five beneficiaries for your life insurance.
• Life Events Extras Feature – This feature allows you to add Extra Cover for certain life events without the need for underwriting.
• Adding extras can increase your Life Cover premium.
• All Extra Covers expire when you reach the age of 65.
• Extra Covers added cannot be held in your superannuation.
At Makes Cents, we know that getting life insurance is a big decision. We can help you with your research through detailed and thorough reviews so you can make a well-informed choice.