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Met Health Care Plan

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This plan has been withdrawn by the insurance company and is no longer available for sale.

 

Met Health Care Plan
 
Met Health Care Plan is a Health Insurance Plan. It is a Traditional Plan without Bonus facility but with Hospitalization Cash Benefit.
 
How it works – In this plan, the policy needs to be taken for a period of 3 years during which the premium is guaranteed. In this plan, premium needs to be paid annually for all the 3 years.
 
The Plan can be continued till 65 years of age and there is guaranteed renewability for continuous plans. This policy covers self, spouse and upto 2 dependent children.
 
A fixed Daily Hospitalization Cash Benefit can be chosen of Rs 1000 to Rs 5000 per day, in multiples of Rs 1000 upto a maximum annual limit of 30 days in Year 1, 40 days in Year 2 and 50 days in Year 3. The Benefit is payable from second day of hospitalization onwards. Double the DHC is paid for each day in Intensive Care Unit or ICU upto 15 days in Year 1, 20 days in Year 2 and 25 days in Year 3.
 
Thus, for each day of hospitalization till the specified limit in each year, the Fixed DHCB Amount is payable or Double DHCB for ICU admission is payable, irrespective of the actual amount spent and over and above any other regular health plan. There is no Death, Surrender or Maturity Benefit under this plan.
 
There are additional benefits in this plan:
Recuperation Benefit: In case of continuous hospitalization for more than 10 days at a stretch, a Lumpsum Benefit of 3 times the DHCB is payable subject to a maximum of Rs. 10,000 for the entire policy term. This benefit can be claimed only once in a block of 3 years of the policy tenure
Critical Illness Benefit: A Lumpsum Benefit of 100 times the DHCB is payable on diagnosis of any of the mentioned Critical Illness, subject to a maximum of Rs. 3,00,000. This benefit can also be claimed only once in a block of 3 years of the policy tenure. There is also a maximum limit of Rs 10,00,000 being payable across all policies for Critical Illness Benefit. The critical illnesses covered are:
  • Heart Attack
  • Cancer
  • Stroke
  • Surgery to Coronary Arteries
  • Kidney Failure
  • Major Organ Transplant
  • Aorta Surgery
  • Blindness
  • Heart Valve Replacement
  • Paralysis
Total Permanent Disability Benefit: A Lumpsum Benefit of 100 times the DHCB is payable on Total and Permanent Disability due to an accident, subject to a maximum of Rs. 3,00,000. This benefit can also be claimed only once in a block of 3 years of the policy tenure.
 
 
Key Features of Met Health Care Policy
 
  • It is a Hospitalization Cash Benefit Health Insurance Plan
  • This plan covers self, spouse and 2 dependent children
  • There is Hospitalization coverage of Rs 1000 to Rs 6000 per day
  • The benefit is payable for more than 1 day of hospitalization
  • There is Double Daily Cash Benefit for ICU admission
  • This plan offers Lumpsum Benefit:
    • If the insured is diagnosed of any mentioned Critical Illnesses, then Lump sum benefit in case of a Critical Illness
    • In case of Accidental Total & Permanent Disability
    • Recuperation benefit is paid in case of continuous hospitalization for more than 10 days
  • This plan offers guaranteed coverage up to the age of 65
  • Premiums in this plan is guaranteed for Policy Term of 3 years
  • This Plan offers Attractive No Claim Discount on premiums up to 50%
  • The benefits of this plan can be paid in addition to other regular Medical Insurance Plans
 
 
Benefits you get from Met Health Care Insurance Policy
 
Death Benefit – There is no Death Benefit in this plan.
 
Maturity Benefit – There is no Maturity Benefit in this plan.
 
Health Benefit – In this plan there are following Benefits:
  • Fixed Hospitalization Cash Benefit- This plan offers the benefit of choosing a Fixed Hospitalization Cash Benefit of Rs 1000 to Rs 5000 per day for a minimum hospitalization of 2 days for 30 days in Year 1, 40 days in Year 2 and 50 days in Year 3
  • For each day of admission in ICU, Double Hospitalization Benefit is payable for not more than 15 days in Year 1
  • This benefit is paid irrespective of the actual amount spent and over and above other health insurance plans and paid second day of hospitalization
 
Income Tax Benefit - Health Insurance premiums paid up to Rs. 15,000 are allowed as a deduction from the taxable income each year under section 80D which is extended to Rs 20,000 for Senior Citizen.
 
 
Eligibility conditions & other restrictions in Met Health Care Insurance Plan
 

 

 
Minimum
Maximum
Fixed Daily HCB (in Rs)
1,000
5,000
Fixed Daily HCB in a year (in days)
30 in Year 1, 40 in Year 2 and 50 in Year 3
Policy Term (in years)
3
Premium Payment Term (in years)
3
Entry Age of Primary Insured (in years)
18
55
Entry Age of Secondary Insured (in years)
3 months
55
Age at Maturity (in years)
-
65
Payment modes
Yearly and Half-Yearly(for DCB>=Rs. 3000)
 
 
Sample illustration of Met Health Care Plan
 

The below illustration is for a Healthy Male/Female (standard Lives) opting for a fixed DHCB of Rs. 5000

Met Health Care Plan Sample Premiums

 

 

 

Additional Features and Benefits of Met Health Care Plan
 
Riders – There are 3 additional benefits in this plan.
  1. Recuperation Benefit
  2. Critical Illness Benefit
  3. Total Permanent Disability Benefit
 
 
Total Benefits of Met Health Care Plan at a Glance
 
This is a summary of all benefits at a glance:

 

Benefit
Option 1
Option 2
Option 3
Option 4
Option 5
Daily Hospitalization Cash Benefit (DHCB)
Rs 1,000 per day
Rs 2,000 per day
Rs 3,000 per day
Rs 4000 per day
Rs 5,000 per day
Daily ICU Cash Benefit
Rs 2,000 per day
Rs 4000 per day
Rs 6,000 per day
Rs 6,000 per day
Rs 6,000 per day
Recuperation Benefit
Rs 3,000
Rs 6,000
Rs 9,000
Rs 10,000
Rs 10,000
Critical Illness Benefit
Rs 1,00,000
Rs 2,00,000
Rs 3,00,000
Rs 3,00,000
Rs 3,00,000
Accidental Total &
Permanent Disability Benefit
Rs 1,00,000
Rs 2,00,000
Rs 3,00,000
Rs 3,00,000
Rs 3,00,000
 
 
What happens if?
 
You stop paying the premium - If the policy holder stops paying the premium, the policy lapses and all benefits cease to exist.
 
You want to surrender the policy – There are no surrender benefits under this plan.
 
You want a loan against your policy – Loan facility is not available in this plan.

 
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