PNB Metlife College Plan is an excellent plan for the financial expenses of child education. In the various stages of the education of your child, you will get systematic money backs. If unfortunately, the policyholder dies, guaranteed additions and protection of insurance are available. If you want to generate funds for the education of your child, you can take this plan. In this article, I will discuss this plan in details

PNB Metlife college Plan

Features of PNB Metlife College Plan:

1. From 12 to 24 years, options of savings are available

2. For 3 years, a guaranteed fund will be provided for the education of a child, before the maturity

3. You will get benefits of tax under 80C and 10 (D) of the act of Income Tax

Eligibility for this plan:

Age at entry Minimum age at entry – 20 years Maximum age at entry – 45 years
Age at maturity Maximum age at maturity – 69 years
Term of policy Minimum term of the policy – 12 years Maximum term of the policy – 24 years
Frequency of paying a premium Monthly or quarterly or half-yearly or yearly. Payroll savings program is also available
Sum assured Minimum sum assured is Rs 2,12, 040 Maximum sums assured is Rs 5 crores
Premium ( yearly) Minimum yearly premium is Rs 18000 Maximum yearly premium is Rs 42, 44, 482
Premium paying term Regular

Benefits of PNB Metlife College Plan:

1. The policyholder will get 20% of the Base sum assured at the end of each policy year as a survival benefit for 3 years, after the maturation of the policy

2. If the policyholder dies, the beneficiary will get the death benefits such as death sum assured along with a reversionary bonus. The company will pay the remaining premiums until maturity

3. The policyholder will get 40% of the basic sum assured as a guaranteed amount. He will also get terminal bonus as well as simple reversionary bonus if applicable

Details of the policy:

Grace period: The policyholder has to pay the unpaid premium within 30 days. If you make the payment monthly or on a payroll savings program, the time period is 15 days.

Freelook period: Period of 15 years from the date you have signed the policy

Conclusion: This plan is best if you want the security of your child. For more details, you can visit their official website

10 best child education plan

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