Q: What is the pricing for Premium Term Life?
You can refer to the table below for the pricing of Premium Term Life. However, these prices are subject to change. For an exact price according to your age please refer to the illustration document generated at the time of enrollment.
Q: How can I enroll for Premium Term Life?
To enroll yourself for Premium Term Life, please contact your Priority Relationship Manager or visit your nearest Standard Chartered branch for enrollment.
Q: Who is the underwriter of Premium Term Life?
Premium Term Life is underwritten by American Life Insurance Company (Pakistan) Limited MetLife Alico. MetLife, Inc. is a leading global provider of insurance and financial services with more than 140 years of experience and operations throughout the United States, Latin America, Japan, Asia Pacific, Europe and Middle East. Through its subsidiaries and affiliates, MetLife, Inc. reaches 90 million customers in over 60 countries.
Q: What will be the proof of my coverage?
You will be provided a copy of the illustration of your plan by your Relationship Manager. Upon acceptance of your application, MetLife Alico will mail you your insurance document and plan terms and conditions at your given address.
Q: How will claims be settled?
To settle a claim your beneficiary may contact MetLife Alico at 021-111 111 711 or write to
Manager Claims, MetLife Alico, 13th Floor Dolmen Executive Tower ,
Block 4, Clifton, Karachi 75600 from anywhere in Pakistan.
MetLife Alico will settle the claim within 15 business days upon submission of the complete claim documents.
Q: What if I want to cancel the plan?
You can cancel your coverage at any time by submitting a written notice to MetLife Alico at the following address at least 14 days in advance
American Life Insurance Company Limited (MetLife Alico)
13th Floor Dolmen Executive Tower, Marine Drive
Block 4, Clifton, Karachi 75600
You can also write to Standard Chartered Bank or visit our website given below:
Standard Chartered Bank (Pak) Limited,
Customer Services,
P.O.Box: 5666,
Karachi 74000
Q: Who do I contact to renew the policy?
Premium Term Life is one year term policy and will be automatically renewed by charging your account with the renewal premium; if the terms and conditions including the premium amount remain unchanged. However, if there are any changes in the terms and conditions of the initial offer, you will be contacted for your consent. You can also contact your Standard Chartered branch to renew your policy if any of the terms and conditions change.
The illustration document clearly indicates the number of years you are signing up for. You will have to give a fresh consent upon the completion of your current age band to continue the policy. For instance, a customer aged 35 can avail the policy for a period of 1 year only. The customer will have to provide a fresh consent since the premium of the policy will now change as per the table given under the pricing section. However, a customer aged 36 can avail the pricing for 5 years without any change to their terms and conditions.
