Child means the world to a parent and so a parent tries to give the world to him/her. Often, there a roadblocks which needs to be removed to give what is best to the child. 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. Met Life’s Met Little Star is one such policy which will provide all that you need for your child’s secured future.
ADVANTAGES
1. Comprehensive protection for your child.
2. Flexibility of withdrawal whenever you need it – not just at pre-decided milestones.
3. Future premium protection benefit.
4. Tax benefits as applicable.
BENEFITS
Death Benefit
In case of the death of the parent (Person Insured) during the term of the policy, the benefits under the policy are payable based on the benefits structure as shown below:
| Benefit | Future Premium Protection Benefit (Lump Sum Option) | Future Premium Protection Benefit (Regular Option) |
| Due to Death or Total and Permanent Disability due to accident, whichever occurs earlier. | 100% of Sum Assured paid to the child immediately.
All remaining future premiums credited into the fund at one go on the next policy anniversary day. Policy continues for the benefit of the child. |
100% of Sum Assured paid to the child immediately.
All remaining future premiums credited into the fund as and when each premium was to fall due. Policy continues for the benefit of the child. |
| *In case of death of the child beneficiary, the Person Insured can either chose to continue the policy on original terms by substituting another person as the beneficiary. Or they can surrender the policy and claim the Surrender Benefit. | ||
Maturity Benefit
100% of Fund Value payable on the date of maturity.
1. Comprehensive protection for your child.
2. Flexibility of withdrawal whenever you need it – not just at pre-decided milestones.
3. Future premium protection benefit.
4. Tax benefits as applicable.
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICY HOLDER
FEATURES & ELIGIBILITY
When your child is born, a star is born in your family. And, you as parents would like to provide your star with all the building blocks that could develop his or her potential to the fullest. This could mean special instruction sessions for talented children, unique training gear for exceptional athletes or qualified training for born singers to provide that extra edge.
To ensure this, you would need an investment and protection package that is exclusively designed to help you plan for financial security, no matter what uncertainties life brings.
‘Met Little Star‘, a Unit-Linked, regular premium, child insurance plan helps you do just that. It secures finances for your child’s educational needs and ensures that plans go as planned, no matter what the circumstances.
RIDERS
Critical Illness Rider – No one likes to think about the possibility of suffering a critical illness like cancer, heart attack and stroke etc. It is something that many of us assume will not happen to us. In the daily grind of activities, one ends up never being prepared for such an eventuality. Metlife offers a ‘Critical Illness Rider’ which provides payment of an additional amount on the diagnosis of as many as 10 critical conditions. You can have the money to pay for the illness when you need it rather than after the treatment is over, Thus helping you protect yourself against any health or lifestyle risk.
1.Insured critical illness conditions.
2. Heart attack.
3. Stroke.
4. Cancer.
5. Surgery to coronary arteries.
6. Kidney failure.
7. Major organ transplant.
8. Aorta surgery.
9. Blindness.
10. Heart valve replacement.
11. Paraplegia.
Waiting Period – No amount will be payable under this benefit in respect of critical illness diagnosed within a period of 90 days from the date of issue or reinstatement of the policy.
Survival Period – The benefit amount under this rider is payable only if the insured survives for the period of at least 30 days from the date of diagnosis of the insured critical illness.
Termination of the Critical Illness Rider
The riders will terminate on the earliest of any one of the four mentioned below:
1. On diagnosis of the critical illness within 90 days from the issue date or reinstatement of the policy.
2. Lapse, surrender, conversion of the base policy into paid up insurance.
3. The policy anniversary on which the life assured is aged 60 years (as on last birthday) or the maturity date of the base policy which ever is earlier.
4. The date of first occurrence of the event on which benefit becomes payable.
| Boundary Conditions | ||
| Minimum | Maximum | |
| Age of the Parent at Entry* (Person Insured) |
20 years | 55 years |
| Age of the Child at Entry (Beneficiary)* | 30 days | 15 years |
| Policy Term | 10 years | 25 years |
| Maturity Age of Person Insured (1) | - | 70 years |
| Sum Assured Multiple (of Annualized Premium) (2) |
5 | 10 |
| Annualized Premium | 18,000 | No limit (3) |
| *Age last birthday
(1) The Total and Permanent Disability benefit ceases at the age of 65. |
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| Riders Critical Illness Rider |
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Tags: CHILD, CHILD ASSURANCE, CHILD INSURANCE, Child Plan, CHILDREN PLAN
