MetLife India Insurance Company Pvt

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MetLife Insurance Company Pvt. Ltd.

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 in15 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 forempowering 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

History & Background:

19th Century

The origins of Metropolitan Life Insurance Company (MetLife) go back to

1863, when a group ofNew York Citybusinessmen raised $100,000 to found

theNational Union Life and Limb Insurance Company. The new company

insuredCivil Warsailors and soldiers against disabilities due to wartime

wounds, accidents, and sickness. In 1868, after several reorganizations and

five difficult years, the company decided to focus on the life insurance

business. A new company was chartered to sell "ordinary" insurance to the

middle class.

1868 March 25, one day after the Company opened its books, the firstpolicy carrying the name of the Metropolitan Life Insurance Company was

issued. Dr. James R. Dow, a retired physician from Brooklyn, NY, was named

Metropolitan Lifes first President. He held this position until 1871. The

Companys office consisted of two and a half rooms; it was located at 243

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Broadway in lower Manhattan. By the close of business in 1868, the Company

had issued 1,477 policies for $4,340,000.

In 1869Metropolitan moved its office to the 3rd floor of 319Broadway.

1870 By the end of the year, Metropolitan had on its books in excess of

$13,000,000 of insurance, an increase of 93 percent over the previous year.

The Companys Field Force numbered approximately 80 agents.1871Joseph F.

Knapp was named Metropolitan Lifes second President. He held this position

until 1891. The Company began a series of health and safety messages in

Company periodicals for distribution to its employees and policyholders.

1873 Despite a depression, Metropolitan issued 12,242 policies for

$17,753,000. These figures placed it third in number of policies and fifth in

aggregate of insurance for that year.1875The Company purchased its first

home of its own. Located at Park Place and Church Street in Manhattan, it was

occupied early the following year. 1877 Two Metropolitan firsts: a female clerk

was hired, and the Company used its first typewriter.

In 1879, MetLife President Joseph F. Knapp turned his attention toGreat

Britain, where "industrial" or "workingmen's" insurance programs were widely

successful. By importing English agents to train an American agency force,

MetLife quickly transferred successful British methods for use in the United

States. By 1880, the company was signing up 700 new industrial policies a day.

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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.

In 1907, the company commissioned theMetropolitan Life Insurance

Company Towerto serve as its headquarters in Lower Manhattan; completed

two years later, the building was the world's tallest until 1913 and remained

the company's headquarters until 2005. For many years, an illustration of the

building (with light emanating from the tip of its spire and the slogan, "The

Light That Never Fails") featured prominently in MetLife advertising.

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Beginning in the 1930s, the company broadened its tradition of public

service from promoting individual health to fostering national social andeconomic goals. In 1930, MetLife was the undisputed leader of the insurance

industry, insuring every fifth man, woman, and child in the United States and

Canada. On the way it supported the country and the community in many

ways.

For example,

In 1931 MetLife provided the outside capital to buildRockefeller Center.

The company lent money to construct theEmpire State Buildingin 1929,

and virtually saved this project from bankruptcy.

DuringWorld 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

Alliedcause.

In 1980, the company completed the largest single building purchase (of

thePan Am Building) in history.

The MetLife 'Snoopy Two' blimp

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Since the 1980sSnoopyhas been themascottaken from thePeanuts

cartoons, apparently as a MetLiferep. Many other characters from the Peanutscartoons have also been featured in MetLife television commercials. In 1998,

the board of directors authorized demutualization. In 1998, The MetLife

Headquarters building was featured inGodzillaand half of it was destroyed

whenThe Monsterwalked through it.

21st Century

In 2000, Metropolitan Life Insurance Company (MetLife) launched the

seventh largestIPOever 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 Mothermagazine 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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In 2008, MetLife Bank, N.A., a division of MetLife Inc., purchased the

residential mortgage business of Memphis-based First Horizon NationalCorporation. The purchase included the home loan unit ofFirst Tennessee

BankNational Association (outside Tennessee), with 230 offices in the US. The

same year, MetLife also purchased the Reverse Mortgage division of Florida-

basedEverbankFinancial Corp. Both transactions were successfully completed

in a bid to expand the company's stake in the US housing market.

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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:

Auto & Home Insurance

Annuities

Life insurance

Group Life Insurance

Disability Insurance

Group Disability Insurance

Mutual funds and other investments

Long-term care insurance

Health Insurance (Group Dental Insurance)

Fee-based financial planning

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Retirement planning

Wealth management

Banking and financial services

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:

Deductible Saving Benefit for good drivers

Enhanced rental car damage coverage

Full replacement cost for total losses

Full replacement cost for major parts

Multi-policy discounts

Safe driver credits, discounts and programs

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 &

Homeinsurance policy. Coverage for landlords or renters is also available.

Policies provide:

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Property damage resulting from lightning, fire, smoke, and theft

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

Superior 24/7/365 claim service

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:

Met Life Permanent Life Insurances

Met Life Term Life Insurance

Met Life Permanent Life Insurance :

Met Life permanent life insurance is a kind of insurance that insures a person

for the whole of his life. This also has various types like

Whole Life Insurance

Universal Life Insurance

Variable Life Insurance

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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.

Met Life Term Life Insurance :

Term life insurance is good for those who needs life insurance for a short period

of time or those who do not have the capability to pay a reasonable amount of

premium. Term Met Life Insurance can be of two types:

Scheduled Term Insurance

Level Term Insurance

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Scheduled Term Insurance: Scheduled term insurance allows an amount of

money for life insurance that decreases each year of the contract with

decreasing financial obligations. One can also turn this plan into a permanent

one until the insured reach 60 years.

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.

Traveler's Life Insurance Products:

Travelers Special T LevelTerm:Travelers Life & Annuity offers 17

different term period options (any period between 5 and 15 years, plus a 30

year term). Polices in the Special T offer a Term Conversion Plan that

incentivizes conversion to a permanent plan.

Travelers MVP Universal Life:This product offers flexible premiums,

coverage up to and beyond 100 years of age (at no additional cost), and the

ability to accumulate cash value.

TravelersSurvivorship Life:This second-to-die product is a solution to the

problem of estate tax. Properly structured, benefits can be passed to heirs

tax-free.

TravelersVariable Life:This plan is designed to accumulate cash value as

a cost-effective means of providing a death benefit. This product allows the

policyholder to choose from 51 different investment options, all of which are

managed by 21 world-class money managers.

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Travelers Variable Life Accumulator:While offering up the same selection

of investment options as the regular Variable Life policy, the Accumulator

focuses on becoming a source of income.

Travelers Variable Survivorship Life II:The death benefit provided by this

survivorship policy is designed to be paid without incurrent income and

estate taxes.

MetLife Group Term Life Insurance:

NC State offers eligible employees group-term life insurance through

MetLife. "Group-Term" simply means the life insurance is offered to a group of

employees and that unless an employee elects to continue the coverage, it

terminates when employment ends. Because MetLife is offered to a large group

of employees, monthly premiums are very low in contrast to whole-life and

universal-life insurance products.

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:

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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At the end of 5 years 20% of the Sum Assured



Upon survival to maturity 40% of the Sum Assured plus

Total Guaranteed Additions


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savings-cum-protection plan comes to you at affordable premiums. Met

Suvidha is available in both participating as well as non-participating versions.

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 includingMet Certificates of

Deposit, Met Money Market and SavingsAccounts, orMet 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:

Met Smart Premier - Regular

Met Easy Met Smart Plus - Regular Pay

Met Smart Premier - Single Pay

Met Smart Gold Met Smart plus Single

Child Plans:

Met Bhavishya

Met Junior Endowment

Met Little Star

Met Junior Money Back

Met Magic

Retirement Plans:

Met Growth

Met Advantage Plus

Met Pension - Par

Group Plans:

Met Loan Assure

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Met Group Life

Met Group Life in lieu of EDLI Met Group Gratuity

Rural Plans:

Met Vishwas

Met Suvidha - Rural

New Products Offering:

A.Mutual Funds:

Few people have the time, knowledge, and money to successfully build

and manage a portfolio of individual stocks, bonds, and other investments.

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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 high-

quality, 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.

A.Individual Financial Planning:

AFee-Based Planning Approach:

Creation of the total financial relationship begins with a detailed

financial plan, the cornerstone of successful wealth management. Since

nothing in progression rests on its original plan, therefore the financial

planning process is not a one-time event. Our planning process is outlined in

the following steps:

Clarify Financial Goals & Gather Information:We candidly discuss

with each client their personal values, prior financial history and the extent

they wish to be actively involved in the financial management process.

Their personal and professional goals are established and clarified as well as

their risk tolerances, time horizons, liquidity parameters and investment

expectations. This level of knowledge enables us to fully understand the

clients current financial situation and investment perspective so that their

investment strategy can be tightly aligned with their goals and expectations.

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The client, however, always retains the responsibility of making the financial

decisions.

Prepare a Written Financial Plan:This detailed plan provides a

blueprint for future financial decisions. It is a living documentwhich

may be updated as the clients needs, goals and expectations change. This

plan presents an overall view of their present financial situation as well as

projections of how well their future financial needs will be covered. Key

areas presented in the plan are:

Net Worth Analysis

Income Tax Planning

Retirement Planning

Survivor Protection

Income and Asset Protection Strategies

Cash Flow / Liability Risk Management

Education Planning

Estate Planning

Long-term Care Planning

Asset Allocation Strategies

Create and Implement a Personalized Financial Strategy:A

coordinated strategy is developed tailored to the unique needs of the client.

Before implementing the formalized plan, we gain the clients commitment to

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the overall strategy and the underlying investment rationale. Every step of

the way, we hold ourselves accountable for making suitablerecommendations 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:

Thus, to conclude withMetLife (the company) is a financial services

company offering life and non-life insurance, and other financial services to

individual and institutional customers in the worldwide.Its rating is also good

by the rating agencies like AM Best, Fitch, Moodys, and Standard &Poors.

Recommendations:

The recommendation for MetLife Insurance Company Pvt. Ltd. Would be

that they should try to provide services like hire purchase, leasing, venture

capital, discounting, factoring & forfeiting, securitization of debt etc to their

customers.

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