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Life Insurance

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Protection for your Life

Money Back Policy Made Easy.

A money back policy is one of the smarter ways to plan your life investment cover. You not only receive money back over frequent intervals of the policy tenure, a sum assured at the end of the policy term, bonus amounts as declared by the insurer but also an adequate insurance cover for the whole of the policy period.

What is the need to buy a money back policy ?

There are a number of benefits of buying a money back policy.
  • Money back policy offers systematic pay-outs, which ensures a steady source of income during the policy duration instead of just merely providing a lump sum in case of his/her demise.
  • The policy gives benefits of an insurance policy and investment at the same time.
  • The plan thus provides policyholders with a secure and assured return on investment in addition to providing them with an opportunity to grow their wealth through investment opportunities.
  • The plan provides policyholders with the option to add cover that is not included in the original policy document as riders. These riders cover additional possibilities, including hospitalization expenses, permanent disability, accidental death and critical illness.
  • The riders provided along with money back policy are different from insurer to insurer.
  • Benefits of a Money Back Policy
    • Survival Benefits: Money is paid to the policy holder every few years over the lifetime of the policy. The payment gets started after some years of the start of the policy and continues until maturity.
    • Death Benefits: The nominee of the policy gets the death benefit of the insured person. This benefit includes sum assured of the money back policy and bonus accumulated on the policy.
    • Maturity Benefit: This benefit is received by the insured person on the maturity of the money back plan and includes three components
      • Sum Assured : This is the total cover that is chosen by the insured at the start of the policy.
      The Bonus: This includes the accrued reversionary bonuses declared by the insurer. The latter mostly depends on the performance of the company.
  • Key Features of Money Back policy
    These are low-risk savings options that provide insurance coverage as well. It is often referred to as a source of regular income in the form of Survival Benefits. In case of the policyholder’s demise during the policy term period, the entire sum assured is paid to the nominee.
  • Guaranteed Returns from Money back policy
    • Income during the lifetime of the Money Back Plan
    • Income on the maturity of Money Back Plan
    • Income during the death of the insured person in a Money Back Plan
    • Bonus amounts help increase payout in a money back policy
    • Add on riders available for the insured to increase their cover