Metropolitan Life Insurance Review 2024

Metropolitan Life Insurance provides life insurance policies with monthly premiums beginning at R95.00. Their life cover options span from R150,000.00 […]

Metropolitan life insurance

Metropolitan Life Insurance provides life insurance policies with monthly premiums beginning at R95.00. Their life cover options span from R150,000.00 to R5,000,000.00. In the event that a policyholder is diagnosed as terminally ill with a life expectancy of 12 months or less, they can access up to 100% of their coverage amount.

Metropolitan Life Insurance provides a range of five distinct life insurance options. Among these, “Cover up to age 60” and “Cover for life” are the two policies that do not mandate a medical examination. The remaining three policies—”Cover for all causes,” “Cover for accidental death,” and “Cover that decreases each year”—do require medical assessments.

Here, we delve into the details of Metropolitan Life’s life insurance coverage options.

List of Metropolitan Life Covers

1. Cover up to age 60

“Cover up to age 60” is a life insurance offering with monthly premiums beginning at R95.00. Policyholders can secure coverage of up to R5,000,000.00 through this insurance product, tailored for acquiring life insurance during employment years.

Advantages of “Cover up to age 60” life insurance:

  • Policyholders start with a low premium that increases overtime. 
  • Beneficiaries receive part payout to cover expenses before a payout is made. 
  • Policyholders can add Value Protection which helps keep the value of the cover and protect it from inflation. 
  • Policyholders can skip up to 6 monthly payments during the plan term. 

2. Cover for life

Cover for life is a life insurance policy that help secure the finances of your beneficiaries after death. The product has premiums starting from R95.00 per month. Policyholders can choose a cover amount of up to R5,000,000.00.

Benefits of the “Cover For Life” insurance 

  • Policyholders begin with a low premium that gradually increases.
  • Beneficiaries receive a portion of the payout to cover expenses before the full payout is made.
  • Policyholders can add Value Protection, which helps to maintain the cover’s value and protects it from inflation.
  • During the plan term, policyholders may skip up to 6 monthly payments.

Taking out a critical disease and disability cover

Metropolitan offers critical sickness and disability insurance. These are are addons that one can add when taking out a life insurance. Critical illness and disability insurance policies include a variety of advantages that can be extremely beneficial to you. This is because disability and critical illness benefits cover payments made while you are still alive.

If you become incapacitated or suffer a serious illness, you will receive a lump-sum payment. The amount payable is determined on the amount of coverage selected.

Metropolitan Life critical illness cover highlights:

  • Should you suffer from a critical illness, Metropolitan will pay out a lump sum to you.
  • The cover covers a number of critical illnesses.

Metropolitan Life disability cover highlights:

  • This offer pays out a lump sum should you become disabled.
  • The cover offers both occupational disability cover as well as comprehensive insurance.

Advantages of the Metropolitan Life Insurance 

  • There are many types of life insurance products to choose from offering different covers. 
  • Premiums are low on life insurance. 
  • One can subscribe for the product entirely online. 
  • The product accommodates those that want a low coverage since the cover starts from R150,000.00. 
  • Some covers come with a funeral benefit that pays up to R40,000.00. 

Disadvantages of the Metropolitan Life Insurance

  • The cover on the Metropolitan life insurance is up to R5,000,000.00 which can be low for some. 

Conclusion

Metropolitan provides easy and reasonable life insurance. The insurer offers life insurance policies to those with low, moderate, and high incomes. Metropolitan is one of the top three life insurers in Southern Africa in terms of clients due to its inclusion. The brand enjoys a high level of confidence and keeps some of the most devoted customers. This demonstrates that Metropolitan is knowledgeable in its field and provides clients with good services.

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