Common use of Allocation of Units Clause in Contracts

Allocation of Units. All Contributions net of Premium Allocation Charges will be allocated to the Unit Linked Funds in the Allocation Proportion specified in the Schedule. All Contributions allocated to the Unit Linked Funds will be used to buy Units in the chosen Unit Linked Funds by using the Net Asset Value (NAV) provided that: If the Contribution is received by local cheque/DD (payable at par where the Contributions is received) on or before 15:00 hrs on a Business Day, the same day‟s closing NAV shall be used. If the Contribution is received by local cheque/DD (payable at par where the Contribution is received) after 15:00 hrs on a Business Day, the closing NAV of next Business Day shall be used. If the Contribution is received by any other authorized mode, the closing NAV of Business Day on which such payment is realised shall be used. However, the first Contribution received by the Company along with the Application will be used to buy Units in the Unit-Linked Funds as per the Group Policyholder‟s Premium Allocation Instruction using the NAV of the respective Unit Linked Funds, as applicable on the day the Application is completed and results into the Group Policy. Net Asset Value (NAV) for each Unit Linked Fund offered by the Company is computed on a daily basis, i.e., on every Business Day. If there is no valuation done on a Business Day due to market closure, then the valuation date will be the date when the next valuation is done. 5.3 Redemption of Units Requests for payment of benefits or surrender or the Group Policy, switching of Units or re-direction of Contribution shall be processed by cancellation of Units held in the Account by using the NAV, provided that: If the request is received on or before 15:00 hrs on a Business Day, the same day‟s closing NAV shall be used. If the request is received after 15:00 hrs on a Business Day, the closing NAV of the next Business Day shall be used. The valuation is done on a daily basis, i.e. on every Business Day. However if there is no valuation done on a Business Day due to market closure, then the valuation date will be the date when the next valuation is done.

Allocation of Units. All Contributions net of Premium Allocation Charges will be allocated to the Unit Linked Funds in the Allocation Proportion specified in the Schedule. All Contributions allocated to the Unit Linked Funds will be used to buy Units in the chosen Unit Linked Funds by using the Net Asset Value (NAV) provided that: • If the Contribution is received by local cheque/DD (payable at par where the Contributions is received) on or before 15:00 hrs on a Business Day, the same day‟s day’s closing NAV shall be used. • If the Contribution is received by local cheque/DD (payable at par where the Contribution is received) after 15:00 hrs on a Business Day, the closing NAV of next Business Day shall be used. If the Contribution is received by any other authorized mode, the closing NAV of Business Day on which such payment is realised shall be used. However, the first Contribution received by the Company along with the Application will be used to buy Units in the Unit-Linked Funds as per the Group Policyholder‟s Master Policyholder’s Premium Allocation Instruction using the NAV of the respective Unit Linked Funds, as applicable on the day the Application is completed and results into the Group Master Policy. Net Asset Value (NAV) for each Unit Linked Fund offered by the Company is computed on a daily basis, i.e., on every Business Day. If there is no valuation done on a Business Day due to market closure, then the valuation date will be the date when the next valuation is done. 5.3 Redemption of Units Requests for payment of benefits or surrender or the Group Policy, switching of Units or re-direction of Contribution shall be processed by cancellation of Units held in the Account by using the NAV, provided that: If the request is received on or before 15:00 hrs on a Business Day, the same day‟s closing NAV shall be used. If the request is received after 15:00 hrs on a Business Day, the closing NAV of the next Business Day shall be used. The valuation is done on a daily basis, i.e. on every Business Day. However if there is no valuation done on a Business Day due to market closure, then the valuation date will be the date when the next valuation is done.5.3

Allocation of Units. All Contributions net of Premium Allocation Charges will be allocated to the Unit Linked Funds in the Allocation Proportion specified in the Schedule. All Contributions allocated to the Unit Linked Funds will be used to buy Units in the chosen Unit Linked Funds by using the Net Asset Value (NAV) provided that: If the Contribution is received by local cheque/DD (payable at par where the Contributions is received) on or before 15:00 hrs on a Business Day, the same day‟s closing NAV shall be used. If the Contribution is received by local cheque/DD (payable at par where the Contribution is received) after 15:00 hrs on a Business Day, the closing NAV of next Business Day shall be used. If the Contribution is received by any other authorized mode, the closing NAV of Business Day on which such payment is realised shall be used. However, the first Contribution received by the Company along with the Application will be used to buy Units in the Unit-Linked Funds as per the Group Policyholder‟s Policyholder’s Premium Allocation Instruction using the NAV of the respective Unit Linked Funds, as applicable on the day the Application is completed and results into the Group Policy. Net Asset Value (NAV) for each Unit Linked Fund offered by the Company is computed on a daily basis, i.e., on every Business Day. If there is no valuation done on a Business Day due to market closure, then the valuation date will be the date when the next valuation is done. 5.3 Redemption of Units Requests for payment of benefits or surrender or the Group Policy, switching of Units or re-direction of Contribution shall be processed by cancellation of Units held in the Account by using the NAV, provided that: • If the request is received on or before 15:00 hrs on a Business Day, the same day‟s day’s closing NAV shall be used. • If the request is received after 15:00 hrs on a Business Day, the closing NAV of the next Business Day shall be used. The valuation is done on a daily basis, i.e. on every Business Day. However if there is no valuation done on a Business Day due to market closure, then the valuation date will be the date when the next valuation is done.. The assets to which the Unit Linked Funds are referenced, will be valued every day and will be based on whether the Company is purchasing or selling the assets on a net basis in order to meet the day to day cash flow requirements. The Company will make all decisions about the selection and valuation of the assets to which a Unit Linked Fund is referenced subject to the Regulatory Guidelines in this regard. Calculation of Net Asset Values under a Unit Linked Fund: 5.4

Allocation of Units. All Contributions net of Premium Allocation Charges will be allocated to Any Contribution received from the Unit Linked Funds in the Allocation Proportion specified in the Schedule. All Contributions allocated to the Unit Linked Funds will Group Policy Holder shall be used to buy create Units in using the chosen respective Unit Linked Funds by using the Fund’s Net Asset Value (NAV) provided that), subject to following: • If the Contribution is contributions are received by local chequeLocal Cheque/DD (payable at par at Company’s designated office) before 15:00 hrs on a business/working day, the same day’s closing NAV shall be used. • If the contributions are received by Local Cheque/DD (payable at par where the Contributions is received) on or before 15:00 hrs on a Business Day, the same day‟s closing NAV shall be used. If the Contribution is received by local cheque/DD (payable at par where the Contribution is contributions are received) after 15:00 hrs on a Business Daybusiness/working day, the closing NAV of next Business Day business/working day shall be used. If the Contribution is contributions are received by any other authorized modemode other than Local Cheque/DD as mentioned above, the closing NAV of Business Day business/working day on which such payment is contributions are realised shall be used. However, the first Contribution received by the Company along with the Application Proposal Form will be used to buy Units in the Unit-Linked Funds as per the Group Policyholder‟s Policyholder’s Premium Allocation Instruction using the NAV Net Asset Value of the respective Unit Unit-Linked Funds, as applicable on the day the Application Proposal is completed and results into the Group Policy. Net Asset Value (NAV) for each Unit Linked Fund offered by the Company is computed on a daily basisa, i.e., i.e on every Business Daybusiness/working day basis. If However if there is no valuation done on a Business Day business/working day due to market closure, then the above mentioned valuation date will be is the date when the next valuation is done. . 5.3 Redemption Redemptio n of Units Requests Redemption for payment of benefits Gratuity Benefits or surrender or the Group PolicyTermination of this policy, switching of Units or re-direction of Contribution shall be processed by cancellation of Units held in Account as requested by the Account by Group Policy Holder. The Fund Value in the group policyholder’s account is determined using the NAVNet Asset Value on the corresponding Valuation Date falling on or immediately after the Date of Receipt of Written Request at Company’s designated office, provided thatsubject to following: If the request is received on or before 15:00 hrs on a Business Daybusiness/working day, the same day‟s day’s closing NAV shall be used. If the request is received after 15:00 hrs on a Business Daybusiness/working day, the closing NAV of the next Business Day business/working day shall be used. The valuation is done on a daily basis, i.e. i.e on every Business Daybusiness/working day. However if there is no valuation done on a Business Day business/working day due to market closure, then the above mentioned valuation date will be is the date when the next valuation is done. 5.4 Calculatio n of NAV The Net Asset Value would be calculated as: (Market value of investments +/- Expenses incurred + Current Assets + Accrued Income - Current Liabilities and Provisions – Fund Management Charge) / (Number of outstanding units under the relevant Unit Linked Fund) The Net Asset Value would be rounded up to four decimal places. There would be not any difference between the prices at which the units are sold or bought. 5.5 Fund Options Met Group Gratuity offers two different Unit Linked Funds (namely Debt Fund and Balanced Fund) to the group policyholders, which have different risk-return profiles and different asset allocation patterns. Each Unit Linked Fund is referenced to separate and identifiable assets of the Company. Debt Fund Investment Objective To earn regular income by investing in high quality Fixed Income securities. Investment Pattern This fund will primarily invest in a portfolio of bonds and other fixed income securities issued by the Government, Government Agencies and Corporate Issuers. To meet liquidity needs, a small portion of the investments will be held in the form of money market instruments. Balanced Fund Investment Objective To generate Capital appreciation and current income, through a judicious mix of investments in equities and Fixed income securities. Investment Pattern This fund will invest in listed equities and high quality fixed income securities, government bonds, infrastructure bonds and cash deposits in India. The fund intends to adopt a relatively balanced approach towards bonds and equities exposure with the objective of achieving capital appreciation with minimal short-term performance volatility. To meet liquidity needs, a small portion of the investments will be held in the form of money market instruments The investment patterns for these unit linked funds shall be governed by the investment regulations (stipulated by IRDA) applicable to linked plans. In addition, the following investment restrictions shall apply: Asset Class Investment Fund Options Min – Max percentage of assets invested in Debt Fund Balanced Fund Govt and Govt approved Securities 0% - 90% 0% - 60% Corporate bonds rated by an approved rating agency 0% - 60% 0% - 60% Money market and other Liquid assets 0% - 40% 0% - 40% Infrastructure sector as Defined by the IRDA 0% - 60% 0% - 60%

Allocation of Units. All Contributions net of Premium Allocation Charges will be allocated to the Unit Linked Funds in the Allocation Proportion specified in the Schedule. All Contributions allocated to the Unit Linked Funds will be used to buy Units in the chosen Unit Linked Funds by using the Net Asset Value (NAV) provided that: • If the Contribution is received by local cheque/DD (payable at par where the Contributions is received) on or before 15:00 hrs on a Business Day, the same day‟s day’s closing NAV shall be used. • If the Contribution is received by local cheque/DD (payable at par where the Contribution is received) after 15:00 hrs on a Business Day, the closing NAV of next Business Day shall be used. If the Contribution is received by any other authorized mode, the closing NAV of Business Day on which such payment is realised shall be used. However, the first Contribution received by the Company along with the Application will be used to buy Units in the Unit-Linked Funds as per the Group Policyholder‟s Master Policyholder’s Premium Allocation Instruction using the NAV of the respective Unit Linked Funds, as applicable on the day the Application is completed and results into the Group Master Policy. Net Asset Value (NAV) for each Unit Linked Fund offered by the Company is computed on a daily basis, i.e., on every Business Day. If there is no valuation done on a Business Day due to market closure, then the valuation date will be the date when the next valuation is done. 5.3 Redemption Special Addition: If the Master Policy has been sold by a full time employee of Units Requests for payment MetLife, then on each Annual Renewal Date, MetLife will add an amount equivalent to 0.10% of benefits or surrender or the Group Policy, switching of Units or re-direction of Contribution shall be processed by cancellation of Units held Fund Value (calculated in accordance with the formula below) on the Annual Renewal Date to the Account by using adding Units equal to the NAV, provided that: If special addition to the request is received on or before 15:00 hrs on a Unit Linked Funds in the Allocation Proportion specified in the Schedule at the NAV of that Business Day, the same day‟s closing NAV shall be used. If the request is received after 15:00 hrs on a Business Day, the closing NAV : (Sum of the next Fund Value, as existing on the first Business Day shall be used. The valuation is done on a daily basisof each calendar month during the 12 month period subsequent to the Effective Date of the Master Policy or Annual Renewal Date, i.e. on every Business Day. However if there is no valuation done on a Business Day due to market closure, then the valuation date will be the date when the next valuation is done.as applicable)/12*0.10% 5.3