What Is Education Insurance?
Education insurance is a type of financial plan designed to help parents save and prepare for their child's educational expenses. It typically offers benefits like savings or investment 360 options, ensuring funds are available when needed for tuition fees, books, and other educational costs. This helps families manage the financial burden of education more effectively. In MetLife Bangladesh, we offer life insurance options to invest in your children’s future.
Benefits of Education Insurance
Financial Security for a Child’s Education, Regardless of Unforeseen Circumstances
Education insurance ensures uninterrupted access to quality education, even during unpredictable situations. For example, medical emergencies or the loss of financial support from a guardian due to illness or death. Education insurance helps secure a child's educational aspirations and opportunities for growth.Potential for Savings and Investment Growth Over Time
Just like the conventional saving and investment, your money for education insurance can grow over time.
Types of MetLife Education Policy
My Child's Education Protection Plan (MCEPP)
At the end of the Premium Payment Term, you'll receive 50% of the Face Amount minus any debts. At the end of the Coverage Period, the remaining 50% of the Face Amount plus a bonus, minus any debts according to the policy's terms, will be paid out.
Death Coverage
In case of Policy Owner’s unfortunate death, MetLife provides benefits for the beneficiary that includes 100% of the Face Amount as lumpsum less any indebtedness, and monthly Income Benefit equal to 2% of the Face Amount that will be paid every month to the insured child prior to 1 month before the maturity of the Policy. In addition, all the future premiums under the policy will be waived, and the policy would continue until the maturity and beneficiary will receive Maturity Benefit.
Additional Benefits
Additional benefits include tax rebate, access to One by MetLife app, and discounts on various medical and diagnostic services.
Valuable Optional Riders
By paying additional premium, you can add optional riders to your basic policy. For example, if you want a rider that provides financial benefits to cover your medical cost during hospitalization, you can add MediCare to complement your health insurance plan. Other available riders include Personal Accident Coverage, Disability Protection Rider, Hospital Care, and Critical Care.
Reasons to Choose MetLife Education Insurance
Flexibility in choosing the sum assured and policy term based on future education costs
Riders and additional benefits that can be added to the policy for enhanced coverage
Tax benefits associated with education insurance policies
Access to use One by MetLife app where you can conveniently manage your policy, and use a wide range of healthcare services at your fingertips.
Education insurance is available for parents or legal guardians who wish to financially prepare for their child's educational expenses. For more information about MetLife education policy, give MetLife Contact Centre a call. We’re always ready to assist you.