New Delhi, 7thSept, 2010: MetLife India Insurance Company Limited (MetLife), one of India’s leading life insurance companies, today announced the launch of Met Smart Platinum, the company’s first ULIP plan based on the new ULIP guidelines. Met Smart Platinum is a customer friendly plan that offers the flexibility to help meet an individual’s changing financial and protection needs.
Speaking about the launch Mr. Rajesh Relan, Managing Director, MetLife said, “Customer centricity has been the mainstay of MetLife and we have always designed products that meet the financial and protection requirements of customers. Met Smart Platinum is yet another step in that direction, which also aligns with the recent IRDA ULIP regulations. I am confident that Met Smart Platinum is one of the best ULIP offerings in the market."
“Met Smart Platinum is a very flexible solution which can be tailor-made to meet individual investment and protection needs,” he added.
Met Smart Platinum, which is a market linked product, is bundled with an investment strategy that incorporates an “event-based auto-rebalancing” feature to ensure better risk management besides optimizing returns. Customers opting for this feature can distribute allocation of desired percentages of their investment between a high risk fund (Flexi Cap) and a low risk fund (Protector II) depending upon the risk appetite/propensity to take risk. And with the event-based auto-rebalancing feature, customers can choose any one of the 4 pre-defined fund movement value threshold events (10%, 15%, 20% and 25%of Fund Value) that are determined by market movements. When the market movements reach the pre-defined value thresholds chosen by the customer, the product triggers an automatic and proportionate redistribution of the money between the high risk (Flexi Cap) and low risk funds (Protector II) based on the initial investment distribution choice of the customer. This ensures that the core considerations of the customers’ choice of investments are left undisturbed.
Additionally, the flexibility offered to the customers by Met Smart Platinum allows them to make top-up investments apart from allowing partial withdrawals in case the customer needs emergency liquidity of funds. The plan also allows customers to increase and decrease the life coverage depending upon their changing lifestyle needs as they cross different stages of their life. The plan covers and individual till 99 years of age.
MetLife strongly believes in a multi-distribution approach for reaching customers across the length and breadth of the country. MetLife has over 55,000 financial advisors, all of whom have gone through rigorous training to understand customer needs. Complementing the agency force of MetLife is the company’s bancassurance distribution channel offering MetLife’s range of products to MetLife’s bancassurance distributors’ 17 million customers.
About MetLife (www.MetLife.co.in)
MetLife India Insurance Company Limited (MetLife) is an affiliate of MetLife, Inc. and was incorporated as a joint venture between MetLife International Holdings, Inc., The Jammu and Kashmir Bank, M. Pallonji and Co. Private Limited and other private investors. MetLife is one of the fastest growing life insurance companies in the country. It serves its customers by offering a range of innovative products to individuals and group customers at more than 700 locations through its bank partners and company-owned offices. MetLife has more than 55,000 Financial Advisors, who help customers achieve peace of mind across the length and breadth of the country. For more information about MetLife, please visit the company’s website at www.MetLife.co.in.
MetLife, Inc., through its affiliates, reaches more than 70 million customers in the Americas, Asia Pacific and Europe. Affiliated companies, outside of India, include the number one life insurer in the United States (based on life insurance inforce), with over 140 years of experience and relationships with more than 90 of the top one hundred FORTUNE 500® companies. The MetLife companies offer life insurance, annuities, automobile and home insurance, retail banking and other financial services to individuals, as well as group insurance, reinsurance and retirement and savings products and services to corporations and other institutions.
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For Further Information Contact:
Ms. Raka Khashu MetLife India Insurance Company Limited
Phone: +91 98112 27445
Ms. Mehak Kapur / Mr. Amit Arora Mutual PR, New Delhi
Phone: +91 11 43620700 +91 99998 94977 / 98111 54140