MetLife Introduces My Child’s Education Protection Plan

Kathmandu. Helping parents secure the future and dreams of their young children, MetLife this week launched its new insurance plan “My Child’s Education Protection Plan”.This insurance plan is designed to provide protection for children aged 31 days to 15 years. The aim of this scheme is to ensure the continuation of the educational aspirations of the children regardless of the challenges they face in life.The company said that this insurance plan is a comprehensive solution and provides insurance coverage not only to children but also to parents (policy owners). In case of unfortunate death of the parent, the company claims that this plan provides a lump sum payment equal to 100% of the sum assured, as well as a waiver of the insurance fee to be paid in the future and a monthly income benefit equal to 2% of the sum assured of the insurance plan.

This insurance ensures that the educational responsibilities towards the children are supported even in the absence of the parents.

The company also said that there is an option to choose from various supplementary contracts for protection against possible disability, accidents and fatal diseases that may happen to the applicant. With a minimum sum assured of Rs.250,000 and a maximum of Rs.5,000,000 in this plan, one can choose from flexible insurance periods ranging from 10 to 25 years.

Such versatile plans help parents choose the most suitable insurance benefits to suit their children’s educational and future needs and get protection. It provides a security solution for families against any challenges in life, ensuring their children have the opportunities and support they need.

Nirmalkaji Shrestha, Vice President and General Manager of MetLife Nepal said, “My Child Education Protection Plan” represents our assurance for the future of the youth of Nepal. We understand that education is the key to a bright future, and this plan is our commitment to parents or guardians that we are here to secure the dreams of their children. It’s a promise to pave a safe path to success and every child’s journey.”

MetLife has been operating in Nepal since 2001 as a branch of American Life Insurance registered in the United States as a subsidiary of MetLife. In Nepal, MetLife provides life insurance, accident and health insurance, and employee benefits (group insurance) to consumers and businesses.

MetLife Inc., through its subsidiaries and affiliates, is one of the world’s leading financial services companies offering various insurance plans, annuity plans, employee benefit plans and wealth management plans to its individual and institutional customers. Established in 1868, MetLife is operating in more than 40 cities around the world and has a strong position in the United States, Japan, Latin America, Asia, Europe and Central Asia.