First Date of Issuance: 2018-07-01
Child Plan
For your child’s precious future.
Mero – Mutu Child Plan is perfect for protecting and securing your child’s future. It offers the combination of both protection and savings that will support financial security for your child even in your absence. The life of both Child (from the age of one month) and the Proposer (Parent) is covered under this plan.
Purchasing a life insurance policy is the best gift you can give to your child.
Benefits
1. On the death of Proposer during the policy term:
- The full Sum Assured will be paid and the policy will continue till maturity or death of the Child, if earlier.
- Future premiums under the policy will be waived.
- Income equal to 1% of the Sum Assured will be paid every month till the continuity of the policy.
- At maturity of the policy with the survival of the Child, the full Sum Assured will be paid again along with Vested Bonus.
2. On Total Permanent Disability to Proposer during the policy term due to accident or sickness:
- Future premiums under the policy will be waived.
- Income equal to 1% of the Sum Assured will be paid every month till the continuity of the policy.
- At maturity of the policy with the survival of the Child, the full Sum Assured will be paid again along with Vested Bonus.
3. On the death of a Child during the policy term:
In the event of the death of the child, the amount payable under this policy shall be in accordance with the following Schedule:
| Age at death | Amount Payable |
| Greater than 1 month but less than or equal to 2 years | 40% of Sum Assured |
| Greater than 2 years but less than or equal to 4 years | 60% of Sum Assured |
| Greater than 4 years but less than or equal to 6 years | 80% of Sum Assured |
| Greater than 6 years | Full Sum Assured |
Of the total amount payable as per the above schedule, 25 percent of the amount payable shall be paid immediately at the time of the child’s death, and the remaining payables along with the bonus accrued till the child’s death shall be paid at maturity.
4. On survival of both the Child and Proposer till the end of the policy term, the full Sum Assured along with the Vested Bonus will be paid (Maturity Benefits = Sum Assured + Vested Bonus).
Eligibility Criteria:
Minimum Sum Assured NPR 50,000
Maximum Sum Assured No Limit (Based on Income)
Minimum Entry Age (Child) 1 Month
Minimum Entry Age (Proposer) 21 Years
Maximum Entry Age (Child) 15 Years
Maximum Entry Age (Proposer) 55 Years
Minimum Policy Term 10 Years
Maximum Policy Term 25 Years
Maximum Maturity Age (Child) 25 Years
Maximum Maturity Age (Proposer) 65 Years
Premium Payment Mode: Regular (Annually/Semi-Annually/Quarterly)
