MetLife India Insurance has launched a new unit-linked child plan – ‘Met Smart Child’. The unique feature of Met Smart Child is that the fund is locked in for the benefit of the child till the child turns 18. This will ensure that the fund never gets misused and is solely used for the child’s benefit.
Met Smart Child offers a differentiated death benefit. In case of the unfortunate demise of the parent, the sum assured under the product is paid immediately to the beneficiary and all the future premiums which would have been otherwise paid by the parent are paid by MetLife into the fund.
Policies with 15 and 20 year term have a loyalty additions benefit of 2% and 3% respectively. These loyalty additions will be paid even on demise of the parent.
It provides customers with an option of unlimited switches between the available funds to take care of the changing risk appetite of the customers. It has choice of 6 Unit Linked Funds.