MetLife Critical Illness Insurance with Return of Premium (MCII – ROP) is a non-participating, Critical Illness product with a return of premiums (ROP) benefit at maturity.  MCII-ROP covers 10 critical illnesses; pre-existing condition and exclusion clauses apply.

The face amount is paid on diagnosis of, or death due to, one of the covered critical illnesses as well as on Accidental Death. In addition, if death occurs from a cause that is neither a covered critical illness nor an accident, the premiums paid to date are returned without interest to the beneficiaries.

MCII-ROP has a fixed term of 10 years and a fixed maturity ROP benefit of 100% of the premiums paid. MCII-ROP can be paid for by regular premiums (level, guaranteed, and paid for the policy term) or by a single premium. Premiums depend on age and sex (banded premiums are not used).

Benefits of MCII - ROP

Financial Protections:

• Diagnosis of, or Actual Undergoing Surgery for a Covered Critical Illness:

MetLife Bangladesh will pay 100% of the Face Amount less any indebtedness if notified within 365 days of diagnosis. Any date after, the Company may refuse to process the benefit. No benefit is paid if the diagnosis is within 180 days of the start of the policy.

A full report will be required from the treating doctor. MetLife Bangladesh reserves the right to request further examinations.

• Death due to a Covered Critical Illness:

If, during the term of this Policy and while it is in force, sudden death of the Insured ensues from a covered Critical Illness, the Company shall pay 100% of the Face Amount less any indebtedness to the Beneficiary(ies), subject to the Exceptions less taxes, documentary stamps or other fees, if any.

• Financial Protection in case of Accidental Death:

When Injury results in loss of life of an Insured within three hundred sixty-five (365) days from the date of the accident, the Company will pay the 100% of the Face Amount under this Policy to the Beneficiary(ies) subject to the Exceptions.

• Death not due to a Covered Critical Illness:

If, during the term of this Policy and while it is in force, (non-accidental) sudden death of the Insured ensues from any condition other than a covered Critical Illness, the Company shall return the premiums paid to date without interest, under this policy to the Beneficiary(ies) subject to the Exceptions.

*In case of any payment or insurance benefit under this Policy, the amount will be paid after deducting any indebtedness to the company.

The product covers the following 10 Critical Illnesses:

• Stroke
• Cancer (excluding skin cancer)
• First Heart Attack
• Coronary Artery Surgery
• Serious Coronary Artery Diseases
• Heart Valve Surgery / Replacement
• Pulmonary Arterial Hypertension (Primary)
• Benign Brain Tumor
• Kidney Failure
• End Stage Liver Failure

Maturity Benefit:

If no claims have been made under this Policy, and if the Policy has been in force for its entire term of ten (10) years, all premiums paid under this Policy shall be refunded to the Insured, without any interest, less indebtedness, taxes, documentary stamps or other fees, if any.

If the Insured/Beneficiary as applicable, receives a premium refund under this Policy, it shall void the right of any person to make a claim for any such benefit hereunder resulting from a loss incurred prior to or after the premium refund has been made.

Complete Surrender:

Surrender benefit is applicable after 24 months. The policy must have paid premiums for a full 2 years and be in-force after the 24 months (after 2nd policy year) to be eligible for the surrender benefit. On surrender, the policyholder loses all rights to further payments. Partial surrenders are not allowed. The surrender value paid is that on the date of receipt (at MetLife Bangladesh’s head office) of written instructions for surrender.

Policy Loan and Automatic Premium Loan:

Policy Loan is not available for this Product. However, Automatic Premium Loan (APL) will be applicable and processed in accordance with the product’s terms and conditions.

Riders:
Accidental Death Benefit (ADB) rider is built-in with this Product.

No optional rider can be attached to this Product.

Tax Rebate:

By investing in this policy, the Policyholder can become eligible for income tax rebate or concession at the applicable rate as per the laws of Bangladesh, which may vary over time.

Important Details

Eligibility and Term:

The minimum age at the date of issuance of the Policy is 18 years and maximum is 55 years. The term of this Policy is fixed 10 years.

Face Amount (FA):

This is the coverage amount for covered critical illnesses and accidental death. The minimum Face Amount is BDT 300,000, and the maximum Face Amount is BDT 2,000,000.

The product’s maximum coverage limit per life is capped at BDT 2,000,000, and the country’s aggregate CI limit will remain at a maximum of BDT 4,000,000 per life.

Premium and Modes:

Premiums depend on age and sex and can be paid using any of the following modes:

• Annual
• Semi-annual
• Quarterly
• Monthly

Terms & Conditions

• For any payment indebtedness will be adjusted (if there is any).
• The policy will no longer be active after receiving any coverage or benefits covered under the policy.

Clarification of Responsibilities Between the Bank and the Insurer:

Eastern Bank PLC will act as the corporate agent of the insurance company. the insurer will take full responsibility for all terms and conditions under the insurance policy.

For all insurance-related inquiries, please contact:

MetLife Bangladesh
MetLife Building, 18–20 Motijheel C/A,
P.O. Box No. 9, Dhaka 1000, Bangladesh
Call: 16344
International Dial-In: +8809666716344
Fax: +88-02-9558682