Metlife Life Insurance Surrender: Fill & Download for Free

From the question, it is presumed you are asking about PNB MetLife insurance policy .First of all, do not surrender any life insurance policy whatsoever at this juncture of pandemic.If you leave/surrender the life insurance policy, you will stand to lose the insurance coverage. It may become difficult to buy a new life insurance policy hereafter.

[Updated as of 2Q2011]AIG executed its recapitalization plan with the U.S. Government on January 14, 2011 when it repaid in full the FRBNY (Federal Reserve Bank of New York) revolving credit facility; repaid and retired a portion of the preferred interests in the AIA and ALICO SPVs (Special Purpose Vehicles) and transferred the balance to the Treasury Department; and exchanged the AIG Preferred Shares held by the Treasury Department and the AIG Credit Facility Trust for AIG common stock; setting a path for the Treasury Department to monetize and exit its equity ownership over time.As of 3/31/2011, AIG owes an outstanding $37 billion to the U.S. Government.AIG repaid ~$21 billion principal and accrued interest and fees owed under the FRBNY credit facility, which is now terminated.AIG exchanged the Preferred Shares previously held by the Treasurey Department together with the Series C Preferred Shares previously held by the AIG Credit Facility Trust for the benefit of the United States Treasury for, among other things, approximately 1.655 billion shares of AIG common stock. The Treasury Department now holds approximately 92% of the total outstanding AIG common stock, and over time, is expected to sell these shares subject to market conditions. This was exchanged for common stock.A new Series G Preferred Shares was issued to the Treasury Department, and functions as a $2 billion commitment to provide funding that AIG will have the discretion and option to use.AIG paid down and retired approximately $5.1 billion of the FRBNY's preferred interests in the AIA and ALICO SPVs, using cash proceeds from the AIA PIO and the ALICO sale. AIG purchased the remainder of the FRBNY preferred interests using the undrawn balance of the TARP Series F Preferred Shares. Since January 14, 2011, AIG reduced the SPV balances further in February when AIG paid the Treasury Department approximately $2.2 billion from the sale of AIG Star Life Insurance Co., Ltd and AIG Edison Life Insurance Company; and in March when AIG paid the Treasury Department approximately $6.9 billion from proceeds of the sales of MetLife securities received in the ALICO sale. The ALICO SPV liquidation preference has been fully repaid. The Treasury Department is expected to be repaid in full over time from the proceeds of asset sales. Reduced by $15.1 billion.In November 2008, FRBNY created Maiden Lane II SPV to provide AIG liquidity by purchasing residential mortgage-backed securities from AIG life insurance and retirement services companies. FRBNY provided a loan to Maiden Lane II for the purchases. It also terminated a previously established securities lending arrangements with AIG. The original amount funded by the FRBNY was $19.5 billion. Loans to ML II are being repaid with the proceeds from the interests and principal payments and/or from the liquidation of the assets in the facility. The FRBNY is disposing of the securities in the ML II portfolio, individually, and in segments, over time.In November 2008, FRBNY Created Maiden Lane III SPV to provide AIG liquidity by purchasing collateralized debt obligations (CDOs) from AIG Financial Products Corp. counterparties in connection witht he termination of credit default swaps (CDSs) and surrender of the collateral by AIGFP FRBNY provided a loan to the SPV for the purchases. The original amount funded by the FRBNY was $24.3 billion. Loans to ML III are being repaid with the proceeds from the interest and principal payments and/or from the liquidation of the assets in the facility.[Older Information]As of September 30, 2010, AIG owed the U.S. government an outstanding debt and equity balance of $95.6 billion. To date, the outstanding bailout AIG received from The Federal Reserve Bank of New York (FRBNY) in both credit facility and equity total $124.8 bilion. This number comprises U.S. Department of Treasury TARP series D/E shares, U.S. Dept of Treasury TARP series F shares, Preferred Interests and AIA and Alico Special Purpose Vehicles held by FRBNY, and FRBNY investment in AIG-related RMBS and CDOs at Maiden Lane II Special Purpose Vehicles.According to http://media.corporate-ir.net/media_files/irol/76/76115/releases/111008.pdf, released November 10, 2008, the the interest rate on any outstanding debt and equity would be LIBOR + 3.0% per annum; the fee on undrawn commitments 0.75%. The term of the loan is 5 years from 2008, so AIG would be expected to pay back the $95.6 billion plus interest by 3Q2013.

No and for people with existing plans and similar ones they should seek alternatives (more on that below at the bottom of the article about what you can do if you have an existing plan).The plans are:OutdatedComplicated for the average investorExpensivesometimes too long-term - 25–30 yearsoften the premiums aren't sustainablesometimes low-cost funds aren't available within the plan or aren't choosennot transparent in the way they workEspecially expensive if you don't pay in every month to get the `bonuses` backMost of the `old school` savings plans work this way, including:Generali Vision. Now provided by Upmost Wealth Solutions in Guernsey. So Generali Vision is now commonly called Upmost Vision Plan.Zurich VistaPlatform One Hallmark Savings PlanFriends Provident Premier Advance Savings PlanHansard Vantage Savings PlanHansard International Vantage Platinum 11RL360 Insurance Company Limited (RL360) QuantumRL360 ParagonAXA PulsarProvidence Life Compass AccountHansard Infinity WealthHansard Infinity Wealth AccessPremier Trust Global New HorizonPremier Trust Global Premier Provest Principal ProtectionPremier Trust Global Provest planMetlife International Wealth BuilderHSBC International Wealth Builder AccountsCanada Life Offshore Savings AccountLiberty Life/liberty mutual for expats in South Africa.The FlexGlobal international savings planThe lump sum products are often called:Friends Provident International Reserve Investment BondFriends Provident Summit BondFriends Provident International ZenithGenerali Worldwide Choice AccountGenerali Worldwide Professional Portfolio BondHansard International Capital Investment BondOld Mutual (used to be called Skandia) Collective Investment BondOld Mutual (used to be called Skandia) Collective Redemption BondOld Mutual (used to be called Skandia) Executive Redemption BondRL360 PimsRL360 OracleInvestors Trust Access PortfolioInvestors Trust Fixed Income PortfolioAXA Evolution BondProvidence Life Horizon Portfolio BondProvidence Life Orbit Portfolio BondProvidence Life Polaris Portfolio BondPremier Trust Global PremierCanada Life Wealth Preservation AccountPrudential International Portfolio BondMore specifically about these plansSo now I will answer some more questions about these plans.How do they typically work?The cost of the plans are typically levied upfront, due to sales and admin costs. The client is then reimbursed some of that cost at the end of the plan, in the form of bonuses.Let’s take a simple example of a person who buys a 10 year savings plan. If he or she pays the premium over 120 months, the total costs of the plans is often 1-2% per year.Sounds reasonable enough. But if the client stops paying half way through the contract, the actual cost is closer to 4% per year, because the end of contract bonuses are usually not given back to the client.Premium holidays are possible, but they don’t come cost free.Can client make good money on these plans?A small percentage do, but almost all those small percentage of success stories are people who keep contributing to the end of the term.However, only 3%-4% of people contribute to the full 25 year terms. I have seen several people make quite reasonable returns from 10 or 15 year plans.But even then, many people stop contributing, because in the first few years the charging structure is high. Unless the client knows that they will get a big bonus at the end of the contract, they often stop contributing.What makes this particularly confusing is that the charges aren’t levied consistently. On the Generali plans, for example, the charging structure gets very high in years 7, 8 and 9. So high that it isn’t easy to make any on-paper returns.But after year 10, the charging structure falls dramatically, to approximately 0.2% per year. Many people, therefore, stop contributing after 6, 7, 8 or 9 years.How many years does the typical person invest in these plans for?7 years is about the average, statistically speaking, for the 25 year product. A higher percentage of people investing in the shorter 10 year plans contribute until maturity.If somebody wants to stop contributing, what can they do?There are numerous options. People can go for a maximum surrender value and just stop the accounts. However, the surrender value can be quite low, depending on how close the client is to maturity.For example, let’s say a client has invested into a regular savings plan. It is a 25 year plan and after 5 years the value is $100,000. There is still 20 years to go, and therefore, the surrender value might be extremely low. In comparison, if person B has $100,000 in a 10 year plan, and we are now in year 8, the surrender value may be 90%+ of the account value.A second option is a maximum penalty free surrender and withdrawal, which can be reinvested elsewhere, in a more productive way.A final option is to stop paying but take no money out of the policy.Do the fund fees add to the total fees?Yes many of the fund fees are very expensive as well. Typical funds sold with these plans are:Guinness funds – Guinness Global Equity Income and Guinness Global InvestorsVAM funds, including US microchip growth a and VAM managed funds such as cautious A and B.Commerzbank structured notesValartis GroupMomentum Investment Management.Harmony portfolios, including sterling balanced, sterling growth, usd balanced fund and Euro diversifiedJumbo Alliance FundsSAM Group fundsBrooks Macdonald strategic growthdvam fundsSanlam fundsVarious AXA, iShares and BlackRock funds.Franklin Templeton fundsPimco bond fundsSt James Place alternative assets fund; greater European progressive unit trust, balanced portfolio and equity income fund.TAM Asset ManagementARIA Capital ManagementNEBA structured notes/productsABSA Structured NotesPortman structured notes/productsChronus structured notes/productsCornhill asset management LuxembourgPacific Asset ManagementAllan Gray South AfricaInvestecCanaccord Group fundRudolf Wolff fundsDominion FundsMariana Capital structured notesIDADThe Hinton GroupCan somebody make money if they stop contributing?It depend on many factors, including which funds are selected within the savings plans. In general, if people stop contributing they either lose money yearly on the plans, break even or at best make 4% per year. It is a numbers game. As the cost of the account will shoot up toover 4% per year, in some cases, due to non contribution, if markets are performing at 8%-9%, the client’s account may go up by 4% if the right funds are selected.Best to look at alternatives. For those that have the plans there are some options such as:full surrenderpartial penalty free surrenderpartial surrender which isn't as high as the maximum penalty free withdrawalExpat savings plans and portfolio bonds reviews: Zurich Vista + RL360 Quantum/PIMS + Friends Provident + Old Mutual executive/redemption bonds