Life is uncertain, and planning your financial status for your entire lifetime is impossible. The sudden demise of the family’s breadwinner can disturb emotionally and financially. Children’s school fees, pending EMIs, rent, utility bills and many more become an unsolved question from the moment when the breadwinner of the family is no more. Life Insurance Bazaar’s term insurance in UAE offers you a wide range of security plans for your finances with higher returns. However, the Met Life- Live Life is one such plan specially designed from the insurer’s perspective that protects your today and future. Hence, in this blog, we will look into the plan briefly to know how it works and the working process of the plan.
Overview On Met life/Live Life:
Live life is one of the best term insurance plans for your financial planning in Dubai. This plan is completely designed to protect you and your loved ones in your absence, which can cause a sudden demise if you fall ill. So, as a result, you and your loved ones can have security over your fiance when you no longer cannot provide the support needed for the family.
Understand What The Plan Offers:
Below are the ways how met life works for the insurer. They are,
- The met life plan offers you two options: level benefit and decreasing benefit. The level benefit refers to the selected coverage amount, which remains fixed. In contrast, the decreasing plan refers to the selected coverage amount, which decreases yearly based on the amortization rate (selected).
- The met life plan offers you three types of payment: regular, limited, and single pay.
- Regular pay – Premium is paid for every year
- Limited pay – 50% of the premium is paid
- Single pay – Only a single premium is paid
- High coverage for the low cost.
- Allows you to upgrade plan with other benefits such as permanent &
total disability, and accelerated critical illness.
- Allows you to choose the type of currency such as (USD, AED, EUR, or GBP).
- Allows you to enjoy the coverage even when you leave UAE (T&C apply and only except countries that have been sanctioned).
- 30-day free look period, i.e., the days when you can cancel the coverage without penalty from the start of the policy.
- Built-In benefits (Second Medical Opinion, Accelerated Critical Illness, Met Life Discount Card).
- It is also to be noted that this insurance offers an excellent solution for business and sometimes acts as a key man insurance UAE for critical employees.
Working Of Met Life Plans:
- Firstly, the insurer must choose between the two plan options: level or decreasing benefit.
- Secondly, thoroughly assess the coverage amount you and your family need during the sudden demise or if you are affected by any terminal illness.
- Choose a suitable policy term and payment option (premium).
- Select the type of currency (USD, AED, EUR, or GBP).
- Include additional protection benefits (such as accelerated critical illness, permanent & total disability, and accidental loss of life)
Approach Life Insurance Bazaar to give complete security over your loved ones during unpredictable times. We also offer a child education plan, life insurance, retirement plan, and many more for your benefits.
