The MetLife Hong Kong rider will pay a guaranteed stream of payments to an insured consumer who suffers one of eight trigger conditions.
The trigger conditions are stroke; kidney failure; advanced Alzheimer’s disease or other advanced forms of dementia; Parkinson’s disease; paralysis; major head trauma; loss of limbs; or loss of the ability to perform three or more activities of daily living before the age of 65, for a continuous period of at least six months.
The annuity payments will continue even if the insured recovers. If, for example, someone who had a stroke returned to work, that insured could still collect annuity payments.
The rider also provides a separate lump-sum cancer benefit. An insured who qualifies for the cancer benefit will get a lump sum equal to 24 times the monthly annuity benefit.
MetLife Hong Kong is offering the rider to consumers ages 35 to 65.