MetLife launches Met Smart Plus, Met Smart Premier

Bangalore, July 18 (UNI) MetLife today announced the launch of two new and improved variants of their unit linked permanent insurance plan, Met Smart, introduced last year.

Designed in accordance with the recently issued IRDA's ULIP guidelines, both Met Smart Plus and Premier retain their quality of transparency while providing life cover up to the age of 100. These products also offer the flexibility of choosing one's cover as well as the amount of premium paid, MetLife said in a release here.

With a ''never before'' choice of six investment fund options to suit one's risk/return profile, Met Smart Plus and Met Smart Premier allowed the flexibility to switch between funds, the release said.

Both have a minimum sum assured of Rs 60,000 with no upper limit.

It had another unique feature of flexible premium paying option after the third policy year. A policy holder also had the option of increasing or skipping premium payments as and when the situation so demanded. An option to withdraw from funds anytime after the third policy year to meet one's financial requirements had also been included. The first two partial withdrawals in each policy year were free of charge. Met Smart (Plus and Premier) premia also qualify for tax deductions under Section 80 C of the Income Tax Act, 1961, and its benefits, including Partial Withdrawals and Maturity Proceeds, qualify for deduction under section 10(10D) of the Act.

UNI VK GD SKB1547