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MET LIFE - Junior MB
Plan Highlights
| Key Feature |
Non Participating Juvenile Money Back Plan where lump sum amounts are paid to the life assured at periodic intervals on survival. |
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| Best Suited For |
People who want their children?s predictable expenses met through careful planning at an affordable fixed premium amount. |
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| Features |
1) Premiums cease at death or on expiry of term whichever is earlier.
2) This plan can be availed for terms 20 years.
3) Maximum Sum Assured is subject to the restrictions placed by the underwriting guidelines.
4) The plan is a Non Participating one and hence all Premium rates, Sum Assured, Surrender Values and Paid up Values are guaranteed upfront.
5) Provided the policy is in full force, a guaranteed addition of Rs 100 per Rs 1000 of Face Amount will be added to the Face Amount at the end of each policy anniversary and will be payable either on the date of maturity or on earlier death of the Life Insured.
6) If premiums have been paid for at least 3 years then the Policy acquires a Guaranteed Surrender Value, which can be surrendered for cash for its full Guaranteed Surrender Value.
7) Loan can be availed under the policy provided the policy is kept in force for 3 years (90% of the cash surrender value can be taken as loan on approval).
8) The policyholder has the option of converting the policy into a paid-up policy whereby the policy can be kept in force by reducing the face amount in accordance with the premiums paid.
9) No riders are available with this policy.
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Benifits
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| Maturity Benifits |
Sum assured plus accrued guaranteed additions less the survival benefits already paid to policy holder. |
| Survival Benifits |
20% of the sum assured in the 5th, 10th and 15th year each. |
| Death Benifits (Natural) |
Not Applicable
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| Death Benifits (Accidental) |
As per the rider, additional sum assured in case of death due to an accident. |
Other Benefits
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Guaranteed addition of Rs 100 per Rs 1000 of Sum Assured is added to the Sum Assured at the end of each policy anniversary and is payable either on the date of maturity or on earlier death of the Life Insured.
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Policy Features
| Type |
Money Back Policy |
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| House Loan |
Yes |
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| General Loan |
Yes |
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| Premium Paying options |
Yearly, Half-Yearly, Quarterly, Monthly, Salary Saving Scheme |
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| Period of Life Insurance |
As long as premium paying term |
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