CHILD – One word that means the world to a parent. Each parent dreams to give their child everything humanly possible. This is quiet difficult to achieve but a little help goes a long way to ease the path to this goal. Nothing is impossible when a heart is set to conquer. Insurance is an assurance that there is someone who will stand by you provided you ask them for help. It is always easier to save a small amount on a regular basis so that a lump sum amount is available at right times, when needed. With the right kind of policy this money set aside can grow and bear the fruit for your loved one(s). There are plans available to suit each and every need of a ‘Child’ as well as a parent. Met Life’s Met Junior Endowment is one such plan.
MetLife offers ‘Met Junior’- a flexible endowment plan that combines savings and security. Your children’s well-being is your highest priority. So MET JUNIO ENDOWMENT is a plan which offers both timely and efficient return on investment. All with a guarantee.
Met Junior is available in both participating as well as non participating versions.
BENEFITS
Death Benefit
Met Junior-Non Par
In the event of death of the Person Insured, the nominee will receive the Sum Assured.
If death occurs before age 7, then the death benefit is equal to the return of premiums plus interest on premiums.
Met Junior-Par
In the unfortunate event of death of the Person Insured, the nominee will receive the Sum Assured, the Reversionary Bonus and the Terminal Bonus, if any.
If death occurs before age 7, then the death benefit is equal to the return of premiums plus interest on premiums.
No bonuses are payable for the first two policy years or until the Insured attains age 7, whichever is later.
Maturity Benefit
Met Junior – Non Par
On attaining maturity, the Person Insured will receive the Sum Assured.
Met Junior – Par
On attaining maturity, the Person Insured will receive the Sum Assured, the Reversionary Bonus and the Terminal Bonus, if any.
FEATURES
| Coverage Term | ||
| Par | Non Par | |
| Minimum Entry Age of the Child | 0 years | 0 years |
| Maximum Entry Age of the Child | 14 years | 14 years |
| Coverage Terms | 15 – 30 years | 15 – 30 years |
| Premium Payment Terms | 15, 20, 25 or 30 years | 15, 20, 25 or 30 years |
| Minimum Sum Assured | Rs 50,000 | Rs 50,000 |
| Maximum Sum Assured | No Limit | No Limit |
| |
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RIDERS
No riders are available.
ADVANTAGES
1. An endowment plan that offers both savings and life insurance.
2. Different premium paying options to suit various income cycles.
3. Available in both par and non par versions.
4. A plan which participates in the bonuses declared by the company (par).
5. Tax benefits as applicable under Section 80 C, 10(10D).
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Tags: CHILD, CHILD ASSURANCE, CHILD INSURANCE, Child Plan, CHILDREN PLAN