Three Payment Plan (3PP)

Three Payment Plan (3PP)

Criteria Description
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.


Features:

  1. 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.

  1. The plan provides coverage for the full face amount for the entire duration of the policy.

  2. Full amount plus accrued bonus is paid in case of death prior to maturity without deducting the installments already paid.

  3. 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.


Disclaimer:

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.

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Speaking Up

Standard Chartered Bank (the “Bank”) is committed to maintaining a culture of the highest ethics and integrity, and in compliance with all applicable law, regulation and internal policy. As part of this commitment, the Bank has a ‘Speaking Up’ programme through which genuine concerns in this regard can be raised. Members of the public can securely raise Speaking Up concerns through this hyperlink, which is hosted on behalf of the Bank by a third party ‘InTouch’. Examples of concerns that can be raised through this website are concerns that relate to accounting, internal accounting controls or auditing matters and concerns relating to bribery or banking and financial crime. Concerns received will be forwarded to the Bank’s investigations team for review. Complaints relating to SCB banking services should not be raised through this site in the first instance, but through the SCB branch network, contact centres, Relationship Managers or the ‘Contact Us’ webpage.

Disclaimer

Please note that this hyperlink will bring to you to another website on the Internet, which is operated by InTouch, an independent company appointed by the Bank to support its Speaking Up programme. Please be mindful that when you click on the link and open a new window in your browser, you will be subject to the additional terms of use of the website that you are going to visit.

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