MetLife launches insurance plan offering protection for 52 'critical' illnesses

MetLife Bangladesh has launched a ‘Critical Illness Insurance Protection Plan’ - the first of its kind in Bangladesh - offering customers financial protection from 52 common critical illnesses.

The insurance plan will provide financial protection until the age of 80, for 52 critical illnesses including heart attacks, stroke, cancer, kidney disease, respiratory diseases and dengue, the company said in a statement on Sunday.

MetLife notes those diseases are the leading causes of death in Bangladesh.

This is the only health insurance plan in the country that provides financial protection of up to Tk 10 million till the age of 80 years against the highest number of critical illnesses, the company said.

“By paying premiums for a relatively shorter period of time (maximum 20 years from the date of purchase), customers and their families can receive insurance coverage for medical treatment or unfortunate death of the policyholder from critical illnesses or any other causes till the age of 80 years,” MetLife said.

If a policyholder reaches the age of 80 years without making any claim, they will receive up to 100 percent coverage amount of the policy, it added.

Though Bangladesh’s average life expectancy has increased to approximately 73 years, today’s busy lifestyle and increased stress levels, coupled with poor diet and lack of exercise, is contributing to the growing prominence of critical illnesses such as heart attack, cancer, and stroke, MetLife said.

Data from the World Health Organization estimates that non-communicable diseases like cancer, cardiovascular diseases and respiratory diseases account for 67 percent of deaths in Bangladesh.

In many cases, early intervention and treatment of critical illnesses can lead to improved outcomes, however, the cost of treatment can severely impact people’s savings and quality of life in the process.

Considering the current prevalence of dengue fever, the health insurance plan provides additional financial protection against unfortunate death from the disease, according to the statement.