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Money Back Plan

A traditional insurance, Money Back, plan pays out the same maturity benefits in the form of several guaranteed “survival benefits” which are staggered evenly throughout the course of the policy.  The Plan is with the benefit of regular liquidity as the beneficiary get payback on a regular basis. Not only this, but it also pays out a lump Sum Assured in the event of the death of the life insured. The beneficiaries/dependents/nominees of the life insured receive a benefit (called a death benefit) if the worst should come to pass for the insurance holder.

In the event the insured individual does not survive till the policy maturation, the nominee would receive the Death Benefit (the entire Sum Assured) and the policy would be terminated. Functioning of Buy Money back Policy A money back policy provides periodic pay-outs, ensuring a steady source of income to help policyholders meet expenses at different stages during the policy duration. 

Money-back policies provide the benefits of an insurance policy as well as an investment, ensuring that the policy earns the policyholder an income instead of just merely providing a lump sum in case of his/her demise. An average money back policy with 20-year tenure would thus pay the policyholder what is known as a ‘Survival Benefit’ a few years after the start of the policy. Around 20% of the Sum Assured would be paid out periodically, while the balance would be paid out at the time of policy maturity with a bonus if any.