Child means the world to a parent and so a parent tries to give the world to him/her. Every parents paves the way for their child’s safe, secured and bright future. Bringing up a child is a very big responsibility, so is honing the talents and assuring a bright and successful future. To ensure that the child’s receives all that he/she deserves needs a strong financial backing such as an insurance which will also be an investment so that no matter what has life in store for you, you are able to provide the best for your loved one.
MetLife offers ‘Met Magic’, a Unit-Linked (non-medical, regular premium) life insurance plan (Non Par).
You always want your little angel to have the best, in every sphere of life. You don’t want your child to have to compromise. No matter what the circumstances.
Met Magic, a unique life insurance plan, helps you secure the future of your loved one.
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICY HOLDER.
BENEFITS
Death Benefit
Met Junior-Non-Par
In the event of death of the Person Insured during the term of the policy, the Beneficiary will be paid the Sum Assured.
In addition, the plan will continue. All future premiums, that would otherwise have been accumulated had the person insured been alive, are added into the fund on an annual basis, as and when each such regular premium falls due.
In case of death of the Beneficiary, the Person Insured can either choose to continue the policy on the original terms by substituting another person as a beneficiary. Or they can surrender the policy and claim the Surrender Benefit.
Maturity Benefit
100% of Fund Value payable on the date of maturity.
ADVANTAGES
1. No allocation charges from the 3rd year onwards.
2. Allocation charges of 1st and 2nd year paid back as Guaranteed Loyalty Additions from 6th year of policy to maturity.
3. Inbuilt future premium protection benefit.
4. Tax benefits as applicable.
FEATURES & ELIGIBILITY
| Boundary Conditions | |
| Age of the Parent at Entry * | 18 years to 55 years |
| Policy Term Options | 10, 15, 20, & 25 years |
| Maturity Age of Life Insured | 70 years |
| Sum Assured | 5 times annualized premium |
| Minimum Annualized Premium | Rs 12,000 for annual & semi-annual mode |
| Maximum Annualized Premium | Rs. 1,00,000 for all modes |
| * Age at last birthday |
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Tags: CHILD, CHILD ASSURANCE, CHILD INSURANCE, Child Plan, CHILDREN PLAN