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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 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

History & Background:


19th Century
The origins of Metropolitan Life Insurance Company (MetLife) go back to
1863, when a group of New York City businessmen raised $100,000 to found
the National Union Life and Limb Insurance Company. The new company
insured Civil War sailors 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 first
policy 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 1869 Metropolitan moved its office to the 3rd floor of 319 Broadway.
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. 1871 Joseph 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. 1875 The 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 to Great
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.

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 the Metropolitan Life Insurance


Company Tower to 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.

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


service from promoting individual health to fostering national social and
economic 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 build Rockefeller Center.


The company lent money to construct the Empire State Building in 1929,
and virtually saved this project from bankruptcy.

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.

The MetLife 'Snoopy Two' blimp

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


residential mortgage business of Memphis-based First Horizon National
Corporation. The purchase included the home loan unit of First Tennessee
Bank National Association (outside Tennessee), with 230 offices in the US. The
same year, MetLife also purchased the Reverse Mortgage division of Floridabased Everbank Financial Corp. Both transactions were successfully completed
in a bid to expand the company's stake in the US housing market.

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

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 &
Home insurance 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 Level Term: 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.

Travelers Survivorship 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.

Travelers Variable 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:
At the end of 5 years

20% of the Sum Assured

At the end of 10 years

20% of the Sum Assured

At the end of 15 years

20% of the Sum Assured

Upon survival to maturity

40% of the Sum Assured plus


Total Guaranteed Additions

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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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 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:

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 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.

A. Individual Financial Planning:


A Fee-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 document which
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 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:

Thus, to conclude with MetLife (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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