Kathmandu – This week, MetLife launched its new insurance plan, My Child’s Education Protection Plan.
According to the company this new insurance plan is designed to provide a financial foundation for children aged 31 days to 15 years, ensuring continuation of their educational aspirations no matter what challenges they face in life.
My Child’s Education Protection Plan (MCEPP) is a comprehensive solution that provides insurance coverage not only for the child but also for the parent (policy owner). Should the parent pass away, the plan offers a lump-sum payout equal to 100% of the face amount of the policy. In addition, there is a unique benefit with the waiver of future premiums and a monthly income benefit equivalent to 2% of the face amount of the base policy. This feature ensures that the child’s education continues to be supported.
Policy owners also have the option to choose among various additional riders to protect against disabilities, accidents, and critical illnesses. The plan, with a minimum face amount of NPR 250,000 and a maximum of NPR 5,000,000, offers flexible policy terms ranging from 10 to 25 years. This versatility allows parents to tailor the coverage to best suit their child’s educational and career needs. It provides a safety net for families, ensuring that their children have the opportunities and support they deserve, no matter what challenges life may bring.
