INSTA PROTECT PLUS
Frequently Asked Questions
1. What are the benefits of Insta Protect Plus?
o
Life Insurance Benefit for flexible terms at low cost: The plan provides options of life
cover to choose, ranging from 30,000, 60,000, 100,000, 150,000 up to 200,000 USD for
terms of 10, 15 and 20 years at very low premiums
o
Accelerated Terminal Illness Benefit: A Terminal Illness is defined as an advanced or
rapidly progressing incurable disease (excluding HIV/AIDS) that will result in loss of life
within 12 months from the medical report date. Upon diagnosis of such illness, 100% of
the Life Insurance Benefit will be paid immediately and the policy will be terminated. Such
diagnosis must be made at least 18 months prior to the scheduled expiry of the policy.
Further, the terminal illness benefit will not be paid in case of diagnosis within the first 12
policy months.
o
Guaranteed “No Claim” Cash Back: Depending on the policy of the term chosen, MetLife
will reimburse up to 60% of the total premiums paid to the policyholder in the happy
likelihood where the protection element of the plan is not used until its maturity
2. What are the premiums for Insta Protect Plus?
o
The premiums are based on the age of the insured member, policy term opted and the
coverage amount applied for.
3. Most life insurance policies with such a high benefit require a comprehensive medical
evaluation. Is this applicable for this plan?
o
In the application form, there are 3 health questions you are required to answer. The
medical evaluation will be requested only if any of the questions is answered as “Yes”
4. What is the age requirement?
o
Any Mashreq customer between the ages from 20 to 59 is eligible for Insta Protect Plus
5. How long is the premium payment for?
o
Premiums needs to be paid regularly on an annual or monthly basis for the chosen policy
term
6. What if I fail to pay my premiums due on time?
o
There is a 31 days grace period allowing you to cover any missed payment. In the event
where no premiums are received within that period, the plan will terminate and as a
result, you will no longer be covered
7. What is the Grace Period?
o
A period of 31 days is provided as a grace period allowing you to pay any missed
premium. If the payment has been made after that period, the policy will lapse and the
plan will terminate.
8. Who is the underwriter of this product?
o
The insurance policy of the product is underwritten by MetLife and the insurance
coverage that the policy provides shall be at all times subject to the terms and conditions
of the policy contract issued by MetLife. MetLife Terms and Conditions apply. All product
features, benefits and returns are offered by MetLife
9. Who is MetLife?
o
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the
largest life insurance companies in the world. Founded in 1868, MetLife is global provider
of life insurance, annuities, employee benefits and asset management. Serving
approximately 100 million customers, MetLife has operations in nearly 50 countries and
holds leading market positions in the Unites States, Japan, Latin America, Asia, Europe
and the Middle East.
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MetLife is a pioneer of life insurance with a presence of more than 50 years in the Gulf.
Through its affiliates in Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates,
MetLife offers life, accident and health insurance along with retirement and savings
products to individuals and corporations
DISCLAIMER: Terms and Conditions Apply. This product is offered by MetLife (Insurance Company), all product
features, benefits, returns are offered by the Insurance company and not by Mashreq bank psc. Mashreq bank psc
shall not be responsible for Insurance Company’s actions or decisions nor shall Mashreq bank psc be liable regarding
payment of claims or services under the policy/insurance contract.