MetLife launches new policy for child education

MetLife Bangladesh has launched a new insurance policy titled "My Child's Education Protection Plan". 

The policy offers both savings opportunity and insurance coverage in case of the death of a parent with coverage periods ranging from 12 years to 20 years, said a press release.

In case of a parent's death, the family will receive death coverage equivalent to 100 per cent of the insured amount (face amount).

Concurrently the family will continue receiving 2 per cent of the face amount every month until the coverage period ends with no premium payment being 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.

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.