College Savings Plan: Child Education & Savings Plan - PNB MetLife

Key Benefits of PNB MetLife College Plan

  • 1

    Regular benefit payouts

  • 2

    Prepare for child’s education expenses

  • 3

    Waiver of premiums in the event of death

  • 4

    Tax Benefits

Child Education Plan

PNB MetLife College Plan is a non-linked, participating child education plan. It offers systematic money back during your child’s growing years along with a lump sum bonus at maturity to ensure that your child’s education expenses are covered. According to this child plan, in the event of your untimely demise, the death benefit will be paid to your child along with accrued bonuses. Further, all future outstanding premiums will be waived and money back payouts will be paid to the child as scheduled. This is the best type of child education policy to secure your child’s education needs!.

PNB MetLife College Plan ensures

  1. Cover your child's education expenses
  2. Provide financial security for your child with Triple Benefits* 
  3. Provide tax benefits on the premiums you pay and the benefits received*

*Terms and Conditions Apply

Product Benefits

Receive benefit payouts to cover for your child's future education expenses

PNB MetLife College Plan pays a guaranteed* amount of 20% of the Base Sum Assured in the last three years of the policy. The policy pays a guaranteed* amount of 40% of the Base Sum Assured plus accrued bonuses upon maturity.

Enjoy tax benefits* on your premiums and bonuses

  • Tax benefits# U/s 80C and 10(10)D on the premiums paid by you and the benefits received. 

* Terms and Conditions apply
# Tax benefits are as per the Income Tax Act, 1961, and are subject to amendments made there from time to time. Please consult your tax consultant for more details.

Ensure financial security of your child

In the event of death, the beneficiary will get the following triple benefits*:

  • Death Sum Assured plus any accrued bonuses, if any will be paid immediately.
  • All outstanding premiums  will be waived off and the policy shall remain fully active for the remaining policy tenure, and continue to accumulate benefits.
  • Survival benefits plus remaining bonuses if any, will be paid at maturity. Survival benefits are calculated as 20% of Base Sum Assured at the end of each policy year in the last three years before maturity plus 40% of Base Sum Assured.    
    Your annual premium multiplied with the Multiplier factor is the Base Sum Assured.


Boundary Conditions

Person Insured

Father/ mother/ legal guardian of the child

Ages at entry*

20 – 45 years

Max. age at maturity*

69 years

Minimum Premium

Annual Mode : Rs.18,000, Non Annual Mode: Rs.30,000

Maximum Premium

Rs. 42,44,482

Premium Payment Term


Minimum Policy Term#

12 – 24 years

Minimum Sum Assured

Rs. 2,12,040

Maximum Sum Assured

Rs. 5 Crores

*Age Last Birthday, **ECS mandatory for monthly mode, Mini/Max premiums does not include the taxes or extra premiums.
* Age Last Birthday, Base Sum Assured = Annual Premium x Sum Assured Multiple, The sum assured multiple is dependant Age of the insured and the Tenure of the Policy.
**The Policyholder has the facility to withdraw from the ECS mode at least 15 days prior to the ECS due date. The insurer shall not levy any additional charges towards cancellation of ECS mode or recover from the benefits under the policy.
# offers running terms between minimum & maximum policy term.

Terms & Conditions Download Brochure Premium Rates Form Download Hindi Leaflet

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