The Met Junior Endowment is a flexible endowment plan. This plan is a combination of savings and security. This plan renders a timely and efficient return on investment with guarantee. This plan has both the version, participating and non participating.
'''The key features of Met Junior Endowment are as follows:'''
* The plan is available in both par and non par versions.
* This plan takes part in the bonuses declared by the company (par).
* This plan has different premium payment options to suit the different income options.
* Though an endowment plan it gives both savings and life insurance.
* This plan comes under applicable tax benefit.
* No riders are available under this policy.
'''The eligibility criteria for Met Junior Endowment plan are as follows:'''
Par Non Par
Minimum Entry Age of the Child 0 years 0 years
Maximum Entry Age of the Child 14 years 14 years
Coverage Terms 15 - 30 years 15 - 30 years
Premium Payment Terms 15, 20, 25 or 30 years 15, 20, 25 or 30 years
Minimum Sum Assured Rs 50,000 Rs 50,000
Maximum Sum Assured No Limit No Limit
'''The benefits of Met Junior Endowment are as follows:'''
'''Met Junior-Non Par'''
In case of the death of the insured the nominee will receive the sum assured.
In case of death before 7 year the benefit will be equal to the return of the premiums along with the interest.
In case of dea5th of the policy holder the Sum Assured, the Reversionary Bonus and the Terminal Bonus, will be received.
In case of death before 7 years the death benefit will be equivalent to the return of premiums along with the interest on premiums.
'''Met Junior - Non Par'''
On maturity the insured will receive the sum assured.
'''Met Junior – Par'''
On maturity the insured will receive the Sum Assured, the Reversionary Bonus and the Terminal Bonus.