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Met Saral Plan
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This plan has been withdrawn by the insurance company and is no longer available for sale.
Met Saral Plan
Met Saral Plan is a non-Participating Endowment Plan. It is a Traditional Plan without Bonus facility.
How it works – In this plan, premium needs to be paid till the end of the policy tenure, as selected. However this is a simple Endowment Plan for Rs 1,00,000.
On survival till the end of the policy tenure, the policyholder gets Rs 1,00,000 as Maturity Benefit and the policy terminates. However, if the Life Insured dies within the Policy Tenure, the nominee gets Rs 1,00,000 as Death Benefit and the policy terminates. There are no additional benefits along with this plan.
Key Features of Met Saral Insurance Policy
It is a simple Non-Participating Endowment Plan
This plan is for covering each person for the first 1 lakh
The Maturity Benefit in this plan is Rs 1,00,000
If the Life Insured dies within the Policy Tenure, the nominee gets Rs 1,00,000 as Death Benefit
There are no requirements for any medical examination in this plan
COMPARE THIS PLAN WITH OTHER ENDOWMENT PLANS
Benefits you get from Met Saral Insurance Plan
Death Benefit – In case of death of the Life Insured within the Policy Tenure, the nominee gets Rs 1,00,000 as Death Benefit and the policy terminates
Maturity Benefit – On survival till the end of the policy tenure, the policyholder gets Rs 1,00,000 as Maturity Benefit and the policy terminates.
Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C and the Maturity Proceeds are tax free under section 10(10)D subject to fulfilment of terms and conditions.
Eligibility conditions & other restrictions in Met Saral Plan
Minimum
Maximum
Sum Assured (in Rs.)
1,00,000
Policy Term (in years)
5
10
Premium Payment Term (in years)
Equal to Policy Term
Entry Age of Life Insured (in years)
15
50
Age at Maturity (in years)
-
60
Payment modes
Annual and Semi-Annual
Additional Features and Benefits of Met Saral Plan
Riders – There are no additional riders in this plan.
What happens if?
You stop paying the premium - If the policy holder stops paying the premium, the policy lapses and all benefits cease.
You want to surrender the policy – No Information.
You want a loan against your policy – No Information.
