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SME Employee Benefits Package

Foster employee loyalty with competitive benefits.
What is the SME Employee Benefits Package?

The key to success for any enterprise lies in the strength of its people. Employees’ well-being and job satisfaction are vital to the growth and prosperity of your business. MetLife offers a Protection Scheme for Small & Medium Enterprises (SME) employees and their families, called SME Employee Benefits Package, to ensure their health and financial future are protected.

Why choose the SME Employee Benefits Package?

  • Satisfy the insurance needs of your business and workforce;
  • Gain a competitive edge to attract & retain talented employees;
  • Demonstrate long-term commitment to employees & foster loyalty;
  • Reward long-standing employees with a secure future;
  • It provides 24 hours a day and 365 days a year worldwide protection;
  • Unutilized premium of leaving employee is adjustable against the premium for new employees;
  • Affordable premiums

Benefits of SME Employee Package

Group Life 4 (Death due to – Accident & Sickness)

In the event of the insured employee’s death due to accident or sickness occurring anywhere in the world, except for death resulting from active participation in war or war-like operations and suicide, in the first year of coverage, the benefit amount shall be paid in a lump sum to his/her beneficiary.

Accidental Death

If an accidental injury results in the death of an insured employee, the insured amount shall be paid to his/her beneficiary.

Dismemberment, Loss of Sight, Hearing, and Speech Indemnity

If an accidental injury results in any of the following losses to an insured employee, the payment shall be made in one lump sum to the insured employee in accordance with the applicable percentage indicated here below to be applied to the insured amount.

Disability Applicable Percentage Disability Applicable Percentage Disability Applicable Percentage

Loss of Both Hands or Both Feet

100%

Loss of either Hand or Foot and Sight in one eye

100%

Loss of either Hand or Foot

50%

Loss of Sight in Both Eyes

100%

Loss of Speech

100%

Loss of Sight in one Eye

50%

Loss of one Hand and one Foot

100%

Loss of Hearing in Both Ears

100%

Loss of Thumb & Index Finger

25%

Total and Permanent Disability

If, as the result of an accidental injury, an insured employee becomes Totally Disabled, which disability has continued for a period of twelve (12) consecutive months and is unable to engage in any gainful occupation or employment for the remainder of the Insured employee’s life, the benefit amount shall be paid in a lump-sum to such Insured employee.

Accidental Medical Expenses Reimbursement (AMR)

If, as a result of an accidental injury, an insured employee shall require treatment by a physician, use of hospital facilities, or the employment of a licensed or graduate nurse while at the hospital, the Reasonable, Customary and Necessary medical expenses incurred within fifty two (52) weeks from the date of the accident for such physician treatment, hospital charges and nurses fees, which are in excess of the deductible (Rs. 500 ) and up to insured amount limit stated in the Policy shall be paid.

Accidental Weekly Disability Indemnity (AWI)

If, as the result of an accidental injury, an insured employee is Totally Disabled and remains so continuously for a period in excess of the Elimination Period i.e. 1 week (7 days), the Weekly Accidental Disability Indemnity applicable to such Insured employee not exceeding 75% of weekly earned income shall be paid periodically beginning with the first day following such Elimination Period, for the continuous duration of Total Disability, but not to exceed the maximum period of fifty two (52) weeks.

In-Hospital Weekly Income – Accident & Sickness (IH- A&S)

When, as the result of accidental Injury or commencement of sickness, an insured employee shall be necessarily confined within a hospital as an In-patient for at least 24 hours under the continuous attendance of a physician, the Weekly Benefit stated in the Policy shall be paid, for each week that the Insured person shall be confined therein, up to fifty-two (52) weeks, commencing immediately following the Elimination Period (1 day) and Sickness In-Hospital Waiting Period (31 days) stated in the Policy.

Benefits

PACKAGE 1

PACKAGE 2

Insured Amount

(Rs.)

Age*

Occupation / Annual Premium (Rs.)

Insured Amount

 (Rs.)

Age*

Occupation / Annual Premium (Rs.)

A & B

C & D

A & B

C & D

 

 

16-24

1,113

1,352

 

16-24

1,569

2,047

 

 

25-29

1,130

1,369

 

25-29

1,603

2,081

Life - Death due to A & S

50,000

30-34

1,136

1,375

100,000

30-34

1,615

2,094

Accidental Death, Dismemberment, PTD

100,000

35-39

1,175

1,414

200,000

35-39

1,693

2,171

Accidental Medical Reimbursement

5,000

40-44

1,257

1,496

10,000

40-44

1,856

2,334

Accidental Weekly Disability Indemnity

700

45-49

1,399

1,638

1,400

45-49

2,141

2,619

In-Hospitalization Weekly Income - A & S

2,000

50-54

1,660

1,899

2,000

50-54

2,662

3,141

 

(Minimum 5 eligible employees are required for this benefit.)

 

 

55-59

2,034

2,273

 

55-59

3,411

3,889

 

60-64

2,614

2,853

 

60-64

4,571

5,050

Optional

100,000

16-24

229

200,000

16-24

458

 

25-29

311

25-29

621

Critical Illness (13 Diseases)

30-34

458

30-34

916

35-39

787

35-39

1,573

 

(Minimum 20 eligible employees are required for this benefit.)

 

40-44

1,349

40-44

2,698

45-49

2,355

45-49

4,709

50-54

3,164

50-54

6,328

 

55-59

5,152

55-59

10,304

 

60-64

7,731

60-64

 

15,461

 

 

Benefits

PACKAGE 3

PACKAGE 4

Insured Amount

(Rs.)

Age*

Occupation  / Annual Premium (Rs.)

Insured Amount

 (Rs.)

Age*

Occupation  / Annual Premium (Rs.)

A & B

C & D

A & B

C & D

 

 

16-24

3,923

5,119

 

16-24

7,315

9,394

 

 

25-29

4,007

5,202

 

25-29

7,482

9,562

Life - Death due to A & S

250,000

30-34

4,039

5,234

500,000

30-34

7,547

9,626

Accidental Death, Dismemberment, PTD

500,000

35-39

4,232

5,428

1,000,000

35-39

7,934

10,013

Accidental Medical Reimbursement

25,000

40-44

4,640

5,836

50,000

40-44

8,749

10,828

Accidental Weekly Disability Indemnity

3,500

45-49

5,352

6,548

5,000

45-49

10,173

12,252

In-Hospitalization Weekly Income - A & S

5,000

50-54

6,656

7,851

10,000

50-54

12,781

14,860

(Minimum 5 eligible employees are required for this benefit.)

 

55-59

8,527

9,723

 

55-59

16,523

18,602

 

60-64

11,428

12,624

 

60-64

22,325

24,405

Optional

500,000

16-24

1,145

1,000,000

16-24

2,291

 

25-29

1,553

25-29

3,105

 

30-34

2,291

30-34

4,582

Critical Illness (13 Diseases)

35-39

3,933

35-39

7,865

40-44

6,745

40-44

13,491

(Minimum 20 eligible employees are required for this benefit.)

45-49

11,773

45-49

23,545

50-54

15,820

50-54

31,640

 

55-59

25,760

55-59

51,520

 

60-64

38,653

60-64

77,305

 

* Last Birthday Age

Occupational Classification

Class A: Individuals in non-hazardous Occupations with office or travel duties, such as executives, senior management of companies with mostly administrative functions, bankers, accountants, lawyers and similar occupations.

Class B: Individuals facing limited exposure to occupational hazards with superintending, engineering or medical duties, such as plant superintendents, engineers, foremen, physicians, nurses, inspectors, outdoor salesmen and similar occupations.

Class C: Individuals with occupational hazards, such as industrial workers, most of whom are skilled or semi-skilled workers using machinery. Also in this group will be found filling station attendants, farmers, tradesmen, retail delivery clerks, veterinarians, drivers, masons, carpenters and policemen not using motorcycles.

Class D: Individuals with occupational hazards, such as industrial workers using heavy machinery or unskilled laborers, off-shore, oil & gas fields, etc.

First policy issue date: 01/06/2011

MetLife Group Insurance Policies contain certain exclusions, deductibles, limitations. Contact MetLife representative or call us for more information.