Key Benefits of MetLife Retirement Savings Plan

Death Benefit

• To utilize the entire proceeds of the policy or part thereof for purchasing an Immediate Annuity from the Company at then prevailing rate. 
• Withdraw the entire Death Benefit amount as a lump sum

The policy terminates with the payment of death claim amount.

Vesting Benefits
If the insured survives and the policy is in-force till Vesting Date, the Vesting Benefit shall be:
Base Sum Assured + Accrued Simple Reversionary Bonus + Terminal Bonus, if any.

Options on Vesting

• To utilise the full Vesting Benefit to purchase Immediate Annuity from us, which shall be guaranteed for life, at the then prevailing annuity rates.
• To commute to the extent allowed under Income Tax Act as lump sum and to utilize the balance amount to purchase Immediate Annuity from us, which shall be guaranteed for life, at the then prevailing annuity rates.
• To use the Vesting Benefit to purchase a Single Premium Deferred Pension policy available at that time to defer the purchase of Immediate Annuity. This product can only be purchased from us.
• To extend the accumulation period within the same policy with same terms and conditions if you are then aged below 55 years
  The policy terminates with the payment of Vesting claim amount.