MetLife starts first guaranteed monthly income plan
On Wednesday (26th Aug 2009), MetLife India Insurance became the first private sector life insurer to provide guaranteed monthly income along with other regular benefits like tax incentives and bonuses with the launch of Met Monthly Income Plan.
The scheme comprises the benefit of a guaranteed regular income for a long term along with potential upsides in the form of bonuses, MetLife said in a statement. In addition, it also ensures stability of regular income for the family in case of death of the insured, along with permission of a shorter premium payment term and also provides tax benefits.
MetLife Managing Director Rajesh Relan said, the uncertainties caused by the volatile economic conditions, raised the need for a product, which provides guaranteed regular income for a longer term is extremely high.
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