Business briefs

PNB MetLife on Thursday launched an insurance plan for parents to save and be financially prepared to support their child's higher education.

The insurance plan -- PNB MetLife Genius plan -- will offer life insurance cover while allowing parents to save for their child's education.

PNB MetLife Chief Distribution Officer Sameer Bansal said education is one of the biggest costs we face in raising children and many parents are worried about saving enough as well as how they would manage if they lost their ability to earn an income.

''To provide additional benefit to parents of the girl child, PNB MetLife Genius Plan's variant Child Secure offers 1.5 per cent higher income benefits if the policy is taken for a daughter,'' Bansal said. PNB MetLife India Insurance Company (PNB MetLife) as its shareholders has MetLife International Holdings LLC, Punjab National Bank Limited (PNB), M Pallonji and Company Pvt Ltd, Jammu & Kashmir Bank, and other private investors.