MetLife Bangladesh launches new insurance policy for children's education
MetLife Bangladesh has introduced a new insurance policy titled "My Child's Education Protection Plan" to help parents manage the expenses of their children's education with comprehensive financial protection.
The plan features several unique benefits, reads a press release.
The policy offers both savings opportunity and insurance coverage for unfortunate events like death of a parent.
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Commenting on the launch of the new policy, MetLife Bangladesh's CEO Ala Ahmad said, "With our new education policy, we have addressed the major concerns of parents so that financial uncertainty does not hamper their dreams of raising successful children."
In case of death of the parent, the family will receive death coverage equivalent to 100% of the insured amount (face amount).
At the same time, the family will continue to receive 2% of the face amount every month until the policy coverage period ends, and no premium payment is required.
When the policy's coverage period ends, the family will also receive another amount of financial benefit from partial maturity and maturity value with applicable bonuses, adds the release.
If the insured child dies, the policyholder will receive the amount equivalent to total premium paid or cash value of the policy (whichever is higher) with applicable bonuses.
The plan can be purchased with flexible coverage periods ranging from 12 to 20 years.
