PNB MetLife Junior Endowment, Child Insurance Plans

Key Benefits of MetLife Junior Endowment

  • 1

    Death Benefits

  • 2

    Maturity Benefits

Overview

PNB MetLife offers 'MetLife Bhavishya' - a guaranteed money back plan that pays out funds to help you meet the education and career milestones of your children. With this plan, the Life Insured is that of the parent. The plan also has inbuilt guaranteed additions to add value to the policy over its term.
There are two options to choose from and fixed term benefits, periodic additions & terminal additions are payable based on the option that you select. The policy is suitable for parents with children between the ages 0-12 and parents in the age group of 20-50 years old.

MetLife Bhavishya ensures

  1. Guaranteed payouts at critical milestones of the child’s life.
  2. Guarantee of policy continuance in case of the untimely demise of parent.
  3. Guaranteed payouts of 250%* of the chosen Sum Assured.
    *Tax Benefits as applicable.
    * When the term of the plan is 25 years.

Product Benefits

Death Benefit

  1. MetLife 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.
  2. MetLife 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

  1. MetLife Junior-Non Par
    • On attaining maturity, the Person Insured will receive the Sum Assured.
  2. MetLife Junior-Par
    • On attaining maturity, the Person Insured will receive the Sum Assured, the Reversionary Bonus and the Terminal Bonus, if any.

Particulars

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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