Metropolitan Life Launches First Tax-Advantaged Health Insurance to Protect Family Long-Term Care Coverage

Recently, to focus on the challenges of an aging society and family care needs, and to help build a multi-layered long-term care protection system, MetLife China Life Insurance Co., Ltd. (hereinafter referred to as “MetLife”) officially launched its first personal tax-advantaged health insurance — “MetLife Changfu Lifetime Care Insurance.” This product combines “care protection + tax benefits” to provide consumers with a long-term care plan covering the entire family, helping clients balance risk management and financial planning. Yao Bing, Chief Marketing Officer of MetLife, stated that the company will continue to uphold the “customer-centric” philosophy, constantly innovate products and service models, and use professional insurance strength to protect more families, always standing by customers and sharing a better future.

Addressing Aging Challenges: MetLife Launches Tax-Advantaged Long-Term Care Insurance

Data shows that by the end of 2025, the nationwide population aged 60 and above will reach 320 million, and over 45 million elderly people suffer from disabilities or dementia. This means about 1 in 6 seniors will require long-term care. Industry experts say that the average monthly care cost for fully disabled elderly residents in professional nursing homes is about 5,000 yuan. If choosing 24-hour home care services, monthly expenses can approach 10,000 yuan. The economic pressure of professional care services and the care gap will become a real challenge many families must face.

In response, the China Banking and Insurance Regulatory Commission recently issued the “Guiding Opinions on Promoting High-Quality Development of Health Insurance,” which calls for accelerating the development of commercial long-term care insurance. Upholding the “customer-centric” philosophy, MetLife actively responds to regulatory initiatives and officially launched “MetLife Changfu Lifetime Care Insurance,” effectively alleviating the financial burden during family caregiving and providing solid long-term care protection.

Focusing on Care Economics and Care Needs to Cover Multiple High-Risk Disabilities

“MetLife Changfu Lifetime Care Insurance” can meet the care protection needs of different age groups and families. Adults can insure themselves, parents, spouses, and children, providing comprehensive coverage for the entire family lifecycle. Meanwhile, the maximum insurable age extends to 70, filling the gap for high-age groups in insurance coverage and care needs. Additionally, this insurance covers 10 common disability-related illnesses, including severe Alzheimer’s, post-stroke sequelae, paralysis, and 1-3 degree accidental disability, helping more families build effective long-term care protection quickly.

Enjoy Tax Benefits and Unlock Dual Value of Tax Savings and Protection

As a personal tax-advantaged health insurance product, “MetLife Changfu Lifetime Care Insurance” allows policyholders to enjoy tax benefits on premiums paid, according to regulations. When filing annual comprehensive income tax returns, premiums can be deducted within the allowable limit before tax.

For example, Ms. Du, who is 30, is considering her father, who just turned 60, and wants to prepare insurance coverage for his future care needs, providing peace of mind for future expenses. She purchased “MetLife Changfu Lifetime Care Insurance” with an annual premium of 2,400 yuan, paid over 20 years, totaling 48,000 yuan.

This insurance qualifies as a commercial health insurance expense under national regulations and can be deducted before tax within the limit. Ms. Du, with a 20% tax rate, can enjoy an annual tax deduction of 480 yuan during the payment period, totaling up to 9,600 yuan over 20 years.

Moreover, the tax benefit claim process is very convenient. Ms. Du does not need to open any special accounts; she can simply log into the personal income tax app, and during the annual comprehensive income tax filing, go to the “Income and Pre-tax Deductions” — “Commercial Health Insurance” section, fill in relevant policy information such as the tax benefit identification code, and after verifying the amounts, complete the declaration.

Yao Bing, Chief Marketing Officer of MetLife, stated that over the past 20 years, MetLife has relied on the over 158 years of industry experience of the MetLife Group in the United States and the financial strength of its shareholders from China and the U.S., committed to deepening the market and continuously providing comprehensive solutions that meet the core protection needs of Chinese families. In the future, MetLife will continue to uphold the “customer-centric” philosophy, innovate products and service models, and use professional insurance strength to protect more families, always standing by customers and sharing a bright future.

(Editor: Cao Yanyan HA008)