Child Plan | Unit Linked Life Insurance Plan – PNB Metlife Insurance

Key Benefits of MetLife Smart Child

  • 1

    Create wealth for your child’s future

  • 2

    Safeguard your savings from market uncertainty

  • 3

    Loyalty additions (15-20 yrs term) on maturity

  • 4

    Offers tax benefits

Child Savings Plan

With a child education plan like MetLife Insurance Smart Child, you can plan for your child’s future needs well in advance.  Our children plans are specially designed to take care of your child’s ever changing requirements: from child education plan for rising educational costs to financial planning, extracurricular needs or even wedding, which are included in our savings plans for children.

MetLife Samrt Child ensures

  1. PNB MetLife takes care of the premiums for the policy in case of unfortunate demise of the parent.
  2. Offers reasonable investment with annual premium starting from Rs.18,000 p.a.
  3. Offers Systematic Transfer option to help you get the best of equity markets
  4. Makes room for Liquidity with Partial Withdrawals and offers 4 free switches to manage your funds
*Tax Benefits as applicable.

Product Benefits

Death Maturity

In case of insured’s/Policyholder’s sudden demise, the policy entails the following benefits to take care of the unexpected emergencies and future planning of the insured’s / Policyholder’s child.

  • Sum Assured or 105% of the Total Regular Premium paid, whichever is higher, will be paid immediately to your beneficiary, subject to acceptance of claim by the company.
  • Future premiums payment are waived off. In addition, PNB MetLife will credit on a regular basis an amount equivalent to one annualized regular premium as a part of Premium Waiver Benefit (PWB) on a monthly basis into Policyholder’s Fund.
The Policy shall continue to be in-force with deduction of all Policy Charges other than Mortality Charges till the date of maturity. To protect your savings from getting affected by market volatility in your absence, the Fund Values lying in Flexi Cap, Virtue II & Multiplier II Funds (refer to brochure for more details), at the time of insured’s death will be transferred to Balancer II. Balancer II  is a moderate risk fund and will protect your loved ones’ financial interests along with a potential of steady increase in the savings. The entire future payments equivalent to annualized regular premiums will be credited to Balancer II Fund on a monthly basis following the date of notification. First such payment will happen on the monthly anniversary (i.e the same day of each month as the date of commencement of the Policy) followed by the date of notification of death and on a monthly basis thereafter.  

No servicing requests like premium redirection, partial withdrawals, fund switches etc. will be allowed in the event of the death of the insured.

Maturity Benefit

At the end of the Policy term, Fund Value along with Loyalty additions, as applicable, will be paid to you.

Particulars

Boundary Conditions

Minimum/Maximum Age at entry (LBD)* for Life Insured

18/55 years

Minimum /Maximum Age at entry (LBD)* for beneficiary

90 days/17 years

Premium Payment term (years)

Same as policy Term

Minimum Annualised Premium

Rs. 18,000 p.a.

Maximum Annualised Premium

Till age 35 : 2 lakh
36-45 age: 1.25 lakh
Age 46+ : 1 lakh

Policy Term

10, 15 & 20 years

Sum Assured

10 times the chosen Annualised Premium only

Premium Payment Modes

Annual, Semi Annual, Quarterly, monthly and PSP (Payroll Savings Program)

*LBD: Age last Birthday

Terms & Conditions Download Brochure

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