MetLife India (www.metlifeindia.com)
has launched Met Bhavishya across the country today.
Bhavishya is a safe and guaranteed money-back policy that
is designed specifically to provide for a child's life
stages when the parent needs the money the most. One of
the main features of the product is the in-built waiver
of premium on the death of life. Met Bhavishya, a non-par
product that also offers guaranteed periodic and terminal
additions, is available with all riders and presents tax
benefits as applicable.
Met Bhavishya policyholders enjoy flexibility to choose
the timing of the payments, depending on whether it is
the child's schooling, undergraduate or post-graduate
education that is to be funded. Met Bhavishya is suited
to all parents with children below the age of 12, with
the child as the beneficiary.
Metlife India managing director Venkatesh S Mysore: "With
this new product launch, we reiterate our commitment to
providing exceptional services to all Metlife customers
in India. It is clear that there is a steep percentage
increase in educational fees across the country. Met Bhavishya
offers the advantage of a safe and guaranteed option that
is designed to meet education expenses at different points
of time when large amounts of funding are required. We
have ensured that all pay-outs coincide with important
milestones in every child's life."
India is the Indian affiliate of MetLife, the No 1 life
insurer in the US based on approximately $2.4 trillion
in life insurance in-force as of 31 December 2002. MetLife
India was incorporated in April 2001 as a joint venture
between MetLife International Holdings, the Jammu and
Kashmir Bank, M Pallonji and Co and other private investors.
India benefits from its affiliated company's 135-year
old expertise and track record of establishing successful
operations in emerging markets, in addition to the unique
strengths of its Indian promoters. MetLife India offers
a range of innovative products and aims to build financial
freedom for everyone. MetLife India is headquartered in
Bangalore and has offices in 10 cities and an additional
1,000 outreach points through its distribution channel
is a leading provider of insurance and other financial
services to individual and institutional customers. The
MetLife companies serve approximately 12 million individuals
in the US and provide benefits to 37 million employees
and family members through their plan sponsors. Outside
the US, the MetLife companies have insurance operations
in 12 countries serving approximately 8 million customers.