MetLife Income Protection
The Income Protection product offered via MetLife offers a regular benefit paid to the insured in the event that they are temporarily unable to work due to a covered injury or illness.
MetLife’s Income Protection policy provides a regular benefit that will be paid out to the insured due to the suffering of a covered injury or illness and being temporarily unable to work. The plans that are offered provide flexibility and may be customized to suit the individual needs of the insured. Plans can offer a choice of cover design as well as the option of cover via either superannuation or non superannuation plans.
Some of the key benefits that are offered in MetLife’s Income Protection cover include:
- Compensation payments of up to 75% of the insured’s pre-tax deductible income
- Up to 10% payment for the insured’s superannuation benefits, if eligible
- Rehabilitation benefit
- Optional CPI claim increase
Policy holders who possess a MetLife Income Protection policy may choose from a variety of waiting periods ranging from 30 to 90 days. In addition, benefit durations may also be chosen. These typically range from 2 years to 5 years as well as an option that can provide benefits up until the insured reaches the age of 65.