|
|
 |
MET LIFE - Bhavishya
Plan Highlights
| Key Feature |
Non participating Money back policy where lump sum amounts are paid to the life assured. |
|
| Best Suited For |
Parents having children in the age 0-12 years who wish to receive lump sum amounts to meet children's educational expenses at different life stages. |
|
| Features |
1) Policy is to be taken on the life of the parent for the benefit of the child. The child should be in the age group of 0-12 years.
2) Policy is offered in two variants viz., option A and B. Option A matures on the child attaining the age of 21 years, option B matures on the child attaining the age of 25 years. One can choose either of the options based on their requirements.
3) The policy can be customised through 4 riders -Accidental death benefit, Critical Illness (10 illness), Waiver of Premium (Accidental Disability) and Term Rider.
|
|
Benifits
|
|
| Maturity Benifits |
Sum assured plus accrued Reversionary bonus plus Terminal bonus, if any.
|
| Survival Benifits |
Fixed term benefits as per the schedule are paid to the child. |
| Death Benifits (Natural) |
Death of the life assured - 100% of Face Amount shall be payable and all the future premiums are waived. These benefits are in addition to the fixed term benefits that will be paid to the child as per the agreement.
Death of the child within the term - Policyholder has the option to continue the policy and receive the fixed term benefits or surrender the policy.
Death of the child after the death of the parent/policyholder - Another person can be nominated to receive the benefits.
|
| Death Benifits (Accidental) |
As per the rider, additional sum assured in case of death due to an accident. |
Other Benefits
|
Guaranteed additions of Rs 50 per Rs 1000 of sum assured, plus terminal additions of 20% of the guaranteed additions payable for every year premium.
|
|
Policy Features
| Type |
Money Back Policy |
|
| House Loan |
Yes |
|
| General Loan |
Yes |
|
| Premium Paying options |
Yearly, Half-Yearly, Quarterly |
|
| Period of Life Insurance |
As long as premium paying term |
|
|
|
|
|
|
