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Introduction:
MetLife India Insurance Company Private Limited was incorporated in
India on April 11, 2001 as a joint venture between MetLife International
Holdings Inc., The Jammu and Kashmir Bank, M. Pallonji and Co Private
Limited and other private investors.
The Metropolitan Life Insurance Company (MetLife) is the number one
insurer in the U.S. based on over US$2 trillion of life insurance in force. MetLife
serves approximately 9 million individual households in the U.S. as well as 87
of the Fortune 100 companies. MetLife's institutional clients have
approximately 33 million employees and members. Headquartered in New York,
MetLife through its affiliates, subsidiaries and representative offices operates in
15 countries throughout the Americas, Europe and Asia.
MetLife India inherits its parent company's over-130-year-old reputation
of helping build financial independence for its customers. MetLife India has
developed and distributes a range of life insurance products in India.
MetLife India benefits from its parent company's global presence in the
field of insurance, track record of establishing successful insurance operations
in emerging markets and the unique strengths of its other Indian promoters.
Drawing from these experiences, MetLife India hopes to be able to address the
needs of the Indian customer. MetLife India aspires to build on MetLife's history
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of meeting policy holder and contract obligations and the ability to withstand
the impact of adverse economic factors. The MetLife brand, known for
empowering people to feel protected, guided and hopeful about their lives, will it
is hoped do the same for its Indian customers.
Headquartered in Bangalore, MetLife India hopes to deliver value and
world-class service to customers through its financial advisors and corporate
sales representatives. The mission of MetLife India Insurance is to build
financial freedom for all.
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 in force), 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.
The mission of MetLife India Insurance is to build financial freedom for
all.
MetLife Ratings
AM Best
A+
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Fitch
AA
Moodys
Aa2
S&P
AA
Rapidly increasing volume quickly drove down distribution costs, and the new
program proved immediately successful.
1879 President Joseph Knapp traveled to England to observe the
operations involved in selling Industrial, or workingman's, insurance. On
November 17, the Company began issuing Industrial insuranceinsurance
issued in small amounts on which premiums are collected weekly or monthly
at the policyholder's home. 1880 A total of 213,878 Industrial policies were
written, with a value of more than $9,000,000.
20th Century
1902 The Parker Building was acquired by the Metropolitan Life
Insurance Company in 1902. The acquisition was brokered by Frank E. Smith
through John F. Hollingsworth. The latter accepted the Westminster Hotel, at
Irving Place, as partial payment.
During World War II, the company placed more than 51 percent of its total
assets in war bonds, and was the largest single private contributor to the
Allied cause.
In 1980, the company completed the largest single building purchase (of
the Pan Am Building) in history.
Since the 1980s Snoopy has been the mascot taken from the Peanuts
cartoons, apparently as a MetLife rep. Many other characters from the Peanuts
cartoons have also been featured in MetLife television commercials. In 1998,
the board of directors authorized demutualization. In 1998, The MetLife
Headquarters building was featured in Godzilla and half of it was destroyed
when The Monster walked through it.
21st Century
In 2000, Metropolitan Life Insurance Company (MetLife) launched the
seventh largest IPO ever held in the United States. In 2001, MetLife was the
first insurance company to establish a financial holding company with a
nationally chartered bank. Leveraging its unparalleled distribution channels,
MetLife entered the retail-banking arena with the launch of MetLife Bank .In
2001, immediately after the September 11th terrorist attacks, MetLife invested
$1 billion in the US stock market.
In 2005, Working Mother magazine honored MetLife by naming the
company one of the "100 Best Companies for Working Mothers," for the seventh
consecutive year. In early 2006, MetLife was also named to the National
Association for Female Executives annual list of Top 30 Companies for
Executive Women. In 2006, MetLife appointed C. Robert (Rob) Henrikson
chairman of the board of directors, president and chief executive officer of
MetLife, Inc. Henrikson was appointed CEO on March 1, 2006 and chairman of
the board on April 25, 2006.
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Services:
MetLife serves group benefit products and Individual benefit products.
International segment serves these products to groups and individual in the
Asia/Pacific region, Europe, and Latin America. The company's reinsurance
business operates as Reinsurance Group of America, but serves customers
around the world.
Products:
Annuities
Life insurance
Disability Insurance
Retirement planning
Wealth management
Auto Insurance:
MetLife Auto & Home offers you superior auto insurance coverage most
other companies don't. Auto Advantage features go beyond basic liability and
collision coverage to offer you more complete coverage and benefits, including:
Multi-policy discounts
Home Insurance
Cover your home and property from theft or damage
Your home is your greatest asset. Whether your home is a house,
townhouse, mobile home, apartment, or a personal condo, you can protect your
residence and the precious belongings inside with the right MetLife Auto &
Home insurance policy. Coverage for landlords or renters is also available.
Policies provide:
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Coverage for the contents of your home, such as furniture, clothes, TVs
Court fees and liability coverage for lawsuits resulting from injuries
anyone sustains on your property
MetLife Auto & Home insurance also provides superior 24/7/365 claim service.
Life Insurance:
It's an important part of your personal financial safety net. MetLife offers
a wide range of life insurance solutions to help you protect the ones you love.
Met Life Insurance offers many types of life insurance policies as well as car,
house and other insurance policies. The Met Life Insurances are:
Whole Life Insurance: This policy is good for those who have need for life time
protection and a guarantee for cash back. It has a high premium rate which is
fixed and the cash value increases from time to time.
Universal Life Insurance: It offers a life time protection for the insured and
also makes sure that the insureds family gets a monthly income. This Met Life
Universal Life Insurance policy also can be adopted according to ones situation.
Variable Life Insurance: This policy offers its clients to pay their premiums
whenever they wish after the first year of the issuing of the policy. One can also
increase decrease or even stop the payments of premiums. If somebody wants
to increase the policy price one needs to produce satisfactory medical reports
to the company.
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Level Term Insurance: It provides the life insurance protection which stays
the same for the period one has selected initially. One though cannot change
the policy after it is fixed initially. This is helpful to those who do not have a
long term plan and are not sure about their future income and thus premiums.
Travelers Variable Survivorship Life II: The death benefit provided by this
survivorship policy is designed to be paid without incurrent income and
estate taxes.
Savings:
A. Met Sukh:
MetLife offers 'Met Sukh'- a guaranteed money-back policy which
provides guaranteed periodic survival benefits at the end of 5, 10, 15 & 20
years and guaranteed additions of 10% of the Sum Assured for the entire
term. It not only covers your life, but also guarantees you cash payments at
various milestones along with guaranteed growth of your savings.
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Product benefits:
Death Benefit: In the unfortunate event of death of the Person Insured, the
Sum Assured along with the Guaranteed Additions are payable.
The policyholder is entitled to Guaranteed Additions of Rs. 100 per Rs. 1,000 of
the Sum Assured for each completed year.
Maturity Benefit: On maturity, the life insured will receive the Survival Benefits
plus the Guaranteed Addition.
Survival Benefits:
At the end of 5 years
B. Met Suvidha:
'Met Suvidha' is a flexible Endowment Plan that combines savings and
security. In addition to providing you protection till the maturity of the plan, it
helps you save for your specific long term financial objectives. This long term
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Product benefits:
Death Benefit:
Met Suvidha Par: In the event of death during the term of the policy, the
beneficiary will receive the base Sum Assured, the accrued reversionary bonus
and terminal bonus, if any.
Met Suvidha - Non Par: In the event of death during the term of the policy, the
beneficiary will receive the base Sum Assured.
Maturity Benefit:
Met Suvidha Par: On maturity of the policy, you will receive the base Sum
Assured, the accrued reversionary bonus and terminal bonus, if any.
Met Suvidha - Non Par: On maturity of the policy, you will receive the base
Sum Assured.
Bonuses: Bonuses are available only on participating policies. The bonuses are
not guaranteed as they are based on the Companys actual investment returns,
persistency and expense experience. No bonus is payable for the first 2 years of
the policy.
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C. Met Saral:
MetLife presents 'Met Saral' - a non- participating endowment plan. As the
name suggests, its a simple savings plan which gets you into the savings habit
without any medical tests. All you need to do is fill in a simple application form
and you are ensured a guaranteed maturity amount of Rs 1,00,000, even in the
case of your death during the term. Take the first step towards a better
financial future for yourself and your family. Ensure and insure the first Lakh.
Product benefits:
Death Benefit: In the event of death, the Sum Assured equal to Rs 1,00,000 is
payable.
Maturity Benefit: On Maturity, of the policy the Sum Assured equal to Rs
1,00,000 is payable.
Banking services:
MetLife Bank has savings solutions that can help you on the road to
financial freedom.
MetLife Bank offers you a variety of deposit solutions that can help you
build up and secure your money for those important goals in your life. You can
choose from a number of FDIC-insured accounts including Met Certificates of
Deposit, Met Money Market and Savings Accounts, or Met IRAs. Whichever
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you choose, you'll get a great return on your money with group rates made
available to you by MetLife Bank - as part of your group benefits.
Investment Plans:
Child Plans:
Met Bhavishya
Met Magic
Retirement Plans:
Met Growth
Group Plans:
Rural Plans:
Met Vishwas
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That's why millions of Americans have chosen mutual funds as the foundation
on which to build their investment strategy.
Mutual funds pool the money of many people and invest it in a portfolio
of stocks, bonds, and/or money market instruments to meet a specific
investment objective. Mutual funds are managed by full-time, professional
money managers. As an investor, you receive shares of the mutual fund in
exchange for your investment dollars.
Listed below are four broad mutual fund categories, as well a description
of a typical investor:
1. Money Market Funds appropriate if you are investing for a short period of
time and desire capital preservation. Money market funds invest in highquality, short-term securities.* Money Market funds have the lowest risk,
and therefore the lowest potential reward.
2. Income Funds appropriate if you have a need for current income. Income
funds invest in bonds, both corporate and government, having a range of
average maturities. Income funds are generally lower risk than growth
funds and fall on the lower risk/lower reward side of the risk spectrum.
3. Growth and Income Funds appropriate when you are seeking current
income along with potential long-term growth. Growth and income funds
generally invest in both bonds and dividend paying stocks. Growth and
income funds fall in the middle of the risk spectrum for stock funds.
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4. Growth Funds appropriate if you are investing for a long period of time
and seek long-term growth potential. Growth funds generally invest the
majority of their assets in stocks. Growth funds are high risk, so expect
significant fluctuation in share price.
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The client, however, always retains the responsibility of making the financial
decisions.
Retirement Planning
Survivor Protection
Education Planning
Estate Planning
the overall strategy and the underlying investment rationale. Every step of
the way, we hold ourselves accountable for making suitable
recommendations based on their goals, risk preferences and time horizons.
It is important to understand that our clients are under no obligation to
implement their plan through our company.
Conclusion:
Recommendations:
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