Three Payment Plan (3PP)
|Eligibility||Minimum Age - 1 Month; Maximum Age- 60 Years|
|Face Amount||Minimum Amount- Rs. 50,000 Maximum Amount- Rs. 15 Million|
|Policy Term||12, 15, 18, 21 or 24 Years|
|Mode of Payment||Annual, Semi- Annual, or Quarterly|
Three Payment Plan provides an insurance protection and attractive return on your investment at a low cost. The unique feature of the plan is that the insured is paid the face amount in three installments.
- MetLife pays the face amount in three installments;
- 25% of the face amount is paid at the end of 1/3rd of the term of the policy
- Another 25% is paid at the end of 2/3rd of the term of the policy.
- 50% of the face amount is paid with bonus. In the event of death, no deduction is made for the installments already paid.
- The plan provides coverage for the full face amount for the entire duration of the policy.
- Full amount plus accrued bonus is paid in case of death prior to maturity without deducting the installments already paid.
- With a relatively small additional premium, Applicant can add a WP (Waiver of premium) by which remaining premium payments are waived in case the insured becomes Permanently and Totally Disabled due to accident or sickness within age 60 years.
Standard Chartered Bank Nepal Limited is a licensed Corporate Agent of MetLife (American Life Insurance Company) for life insurance products.
The insurance plans of MetLife are underwritten and issued by MetLife & claims will also be settled by MetLife as per the terms and conditions of the policy.
For more details or risk factors, terms and conditions, exclusions please read the terms and conditions carefully, before buying any products. Please refer policy document for exact terms and conditions and specific details applicable to the Insurance Policy. Standard Chartered Bank Nepal Limited does not accept any responsibility nor gives any warranty, express or implied, as to the accuracy, reliability and completeness of any statement made in or the omission of any provisions of the contract of Insurance and the Bank does not accept any liability for loss or damage of whatsoever nature, which may be attributable to your application, its receipt, payment of claims under it or the contract of Insurance. Your participation in this insurance product is purely on a voluntary basis. We advise you to take your own professional advice before you participate.
Insurance is the subject matter of solicitation.