PNB MetLife Child Plan

What is the PNB MetLife Child Plan?

PNB MetLife provides various child insurance plans that cater to different needs and goals. These plans can be broadly categorized into two main types:

• Child Education Plans: These plans are designed to help you accumulate a corpus that can be used for your child's future education needs. They offer features like guaranteed benefits, increasing income benefits, and flexibility in choosing the payout period.

• Unit Linked Child Plans (ULIPs): These plans combine insurance coverage with investment potential. A portion of your premium goes towards providing life insurance coverage, while the remaining amount is invested in market-linked funds.

Key Features of PNB MetLife Child Plan

PNB MetLife offers a variety of child plans, each with its own unique features and benefits. Some of the common key features of PNB MetLife child plans are as follows:

• Financial Security for Your Child: In the unfortunate event of your death, the child plan will provide a sum assured to your child, which can help you to meet your financial needs.

• Flexibility in Premium Payment Terms: You can choose to pay premiums monthly, quarterly, or annually at your convenience.

• Riders: You can also add riders to your child plan to provide additional benefits, such as critical illness cover, accidental death benefit, and disability benefit.

Benefits of PNB MetLife Child Plan

• Guaranteed Maturity Benefit: This benefit ensures that you will receive a lump sum payout at the end of the policy term, regardless of the performance of the market.

• Waiver of Premium Benefit: This benefit waives future premiums if the policyholder dies during the policy term, ensuring that the plan continues to benefit the child.

• Loyalty Additions: Some plans offer loyalty additions, which are bonuses that are paid out at the end of the policy term based on the policyholder's loyalty.

• Tax Benefits: Premiums paid towards child plans are eligible for tax deductions under Section 80C of the Income Tax Act, 1961.

Investment

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List of PNB MetLife Child Plans

PNB MetLife Insurance offers a variety of child plans to suit different needs and budgets. Some of the popular investment options offered by PNB Met Life are as follows:

Details of PNB MetLife Child Plan:

1. PNB MetLife Genius Plan

   The PNB MetLife Genius Plan is an individual, non-linked, non-participating, savings, life insurance plan designed to help parents save for their child's future.

   Features of PNB Met Life Genius Plan:

   • In-built Waiver of Premium on Death: This feature ensures that even if you pass away, the premiums will be waived, and your child will continue to receive the benefits.

   • Optional Protection Against Accidental Total Permanent Disability (ATPD): You can choose to add this rider to the plan for additional financial security in case of an accident.

   • Increased Income Benefits: The plan offers the option to add "Wealth Boosters" which can increase the income benefit every 5 years.

   • Higher Benefit for Girl Child: The "Child Secure" option of the plan offers a 1.5% higher benefit for girl children.

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2. PNB MetLife College Plan

   PNB MetLife College Plan is a non-linked, participating endowment plan designed to help you accumulate funds for your child's future education. It offers a combination of guaranteed benefits and potential bonuses to help you meet your child's educational needs.

   Features of PNB MetLife College Plan:

   • Guaranteed Maturity Benefit: Get a guaranteed sum along with bonuses at maturity, ensuring a set amount for your child's education, even in a down market.

   • Survival Benefit: Receive 20% of the sum assured in the last three policy years before maturity, helping cover college expenses.

   • Death Benefit: Your beneficiary gets the sum assured and bonuses if you pass away during the policy term, securing your child's education.

   • Policy Loan: Access a loan against your policy after a certain period for emergency expenses.

   • Riders: You can add optional riders like a Waiver of Premium (WoP) or disability rider for extra benefits.

Summing It Up

The PNB MetLife Child Plan is a smart choice for parents looking to ensure their child's future is financially secure. It offers a mix of protection and investment options designed to adapt as your family grows. It is a reliable way to give your child a solid financial foundation.

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