In a nutshell,Car insurance online India is peace of mind for you. It’s your financial protection in case something unexpected to your car for example a bear leaping from the woods and leaving a giant pawprint dent on your car. Car insurance will cover the big cost a associated with damage to your car and yourself.CONTINUE
NEW In a nutshell,Car insurance online India is peace of mind for you. It’s your financial protection in case something unexpected to your car for example a bear leaping from the woods and leaving a giant pawprint dent on your car. Car insurance will cover the big cost a associated with damage to your car and yourself.
In a nutshell,Car insurance online India is peace of mind for you. It’s your financial protection in case something unexpected to your car for example a bear leaping from the woods and leaving a giant pawprint dent on your car. Car insurance will cover the big cost a associated with damage to your car and yourself.Learn MoreLearn More
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Life insurance – Compare Met College Plan Term Insurance Plans – Insuremile
Things you must know about life insurance
PNB Metlife Met College Plan is a traditional insurance-cum-investment policy aimed towards meeting the future financial requirements of a childs education. It is a participating policy dependent on the periodic bonuses declared by the insurer.
As a survival benefit, 20% of the Base Sum Assured is payable at the end of each policy year, for three policy years prior to policy maturity.
On the death of the policyholder, the beneficiary receives the following Death Benefits: (1) Death Sum Assured plus Accrued Simple Reversionary Bonus. (2) All future remaining premiums do not need to be paid even though the policy remains in force until maturity.
On maturation, the policy pays a guaranteed amount of 40% of Base Sum Assured plus accrued Simple Reversionary Bonus and Terminal Bonus if applicable.
The policyholder can avail of a policy loan that is a maximum of 90% of the Special Surrender Value of the policy at the end of the relevant policy year.
The policy acquires Paid Up Value if premiums are paid for a minimum of three policy years and no further due premiums are paid. It will then be eligible for a Reduced Paid Up Value.
The policyholder can reinstate a lapsed policy by submitting a written request within two years from the date of the first unpaid premium. Reinstatement is subject to sufficient evidence being provided of insurability to the company. Furthermore, the policyholder has to pay all due premiums and interest accrued up to the date of reinstatement.
The policyholder has to fill up an `Application form with identity proof, bank account proof, address proof and a recent photograph. Select cases may require income proof.
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Flexibility in saving options from 12 to 24 years
This policy provides a guaranteed fund for the childs education for three policy years prior to the maturation of the policy.
Tax benefits are available under this policy under sections 80C and 10 (D) of the Income Tax Act.
Details About Premium
Annual premium in Rupees Policy Details
Grace Period: The policyholder has no more than 30 days to pay the unpaid premium. In case of monthly and Payroll Savings Program payments, the timeframe is 15 days. Failure to pay the premium within this timeframe causes the policy to lapse and it will be subject to non-forfeiture benefits.
Policy Termination or Surrender Benefit: The policy gets terminated on the earliest of the following: (1) the date on the which the policy is surrendered. (2) At the end of two years from the date that the policy lapsed; and (3) on the payment of maturity benefit in case the policy matures.
If all policy premiums have been paid for three policy years, then the policy acquires a Surrender value. This value is equal to the maximum of Guaranteed Surrender Value (GSV)and the Special Surrender Value (SSV). The GSV is based on a percentage of Total Premiums paid and the discounted value of accrued Simple Reversionary Bonus. The SSV depends on the then prevailing market conditions and is not guaranteed.
Free Look Period: The policy may be returned within a timeframe of 15 days on receiving the policy documents and on stating the reasons for the objections to the terms and conditions of the policy. The policyholder is then entitled to a refund of the premium minus a proportionate premium for the time on risk that the company has borne.
The term insurance cover is void if the person insured, whether sane or insane at the time, commits suicide within one year from the start of the policy cover. The same is applicable if the person insured commits suicide within one year from the date of last reinstatement.