Supplementary Contracts

Supplementary Contracts can be taken in conjunction with the Basic Individual Life and Pension Policies, as well as with the Investment/Savings policies of MetLife. These contracts provide additional insurance coverage, in exchange for a low premium.

They are classified into 3 types:

A. Those providing the Waiver of Premium Payments for Basic Policies.
B. Those creating additional protection.
C. Those providing accidental coverage.

WAIVER OF PREMIUMS

This policy exempts the insured from making premium payments for Basic and any Supplementary Contracts in case of Permanent Total Disability caused from illness or accident and has lasted for at least 6 months.
Permanent Total Disability is the Disability caused from an illness or accident, that makes the Insured completely hindered from carrying out any occupation.

PREMIUM PROTECTION AGREEMENT

The Premium Protection Agreement Policy exempts the Payer of the policy from the obligation to pay future premiums associated with a Basic Policy and any Supplementary Contracts in case of Total Permanent Disability and/or death of the Payer as a result of an illness or accident.
Permanent Total Disability is the Disability caused from an illness or accident, which makes the insured completely hindered from carrying out any occupation.

TERM RIDER INSURANCE

The Insurance Amount under this Term Supplementary Contract is paid out on the death of the insured in addition to the amount paid under the Basic Life Policy. If the insured is still alive when the policy expires, the Policy is no longer in force and therefore premium payments stop.

PERMANENT TOTAL DISABILITY INSURANCE

This Supplementary Contract covers the insured in case of Permanent Total Disability and pays out the insurance amount in three installments. The first installment, equals to 20% of the insurance amount, is paid out to the Insured 6 months after the date the disability commenced. The second installment equals to 30% of the insurance amount, is 12 months after commencement of the disability. The third installment equals to 50% of the insurance amount, is made two years after commencement of the disability.
Permanent Total Disability is the disability caused from an illness or accident, which makes the insured completely hindered from carrying out any occupation.

TOTAL DISABILITY PENSION

The Supplementary Contract “Total Disability Pension” provides the insured with a Monthly Disability Pension in the case of Total Disability (Permanent).
If the insured is totally disabled for work he/she will receive a monthly pension (after a waiting period of 30 days) until his/her disability is over or his/her Supplementary Contract ends, whichever happens first.

MONTHLY INCOME BENEFIT

The Supplementary Contract “Monthly Income Benefit” provides to the Beneficiaries a Monthly Income Benefit from the date of death up to the end of the contract in case of death of the insured.
This benefit can be given to the beneficiaries as a lump sum.

DREAD DISEASES

This Supplementary Contract covers the insured against 7 serious illnesses.  The insurance amount is paid out to the insured as a lump sum 30 days after diagnosing one or more of the following illnesses:
• Cancer
• Heart attack
• Coronary disease requiring surgery
• Stroke
• Renal failure
• Human organ transplant
• Blindness

ACCIDENTAL DEATH BENEFIT

This supplementary contract pays an additional benefit to the beneficiaries in case of the insured's accidental death.