Insurance Policy with Money Back

What is Money Back Insurance Policy ?

As the name suggest you are getting something back from the insurers. Yes you are getting your hard earned money back and still you will be enjoying Insurance cover.

These are the policies which give you back a predefined amount of money at regular interval. The Money Back Insurance Policy has a 3 in 1 advantage, Its gives you a LIFE INSURANCE , LIQUIDITY and GUARANTEED SAVING. No doubts that why these policies rank high on the popularity chart.

In ordinary endowment insurance plans where the survival benefits are payable only at the end of the endowment period, money back policies provide for periodic payments of partial survival benefits during the term of the policy, as long as the policy holder is alive

What makes these products even more attractive is that in the event of death of the policyholder at any time during the policy term, the death benefit is the full sum assured without deducting any of the survival benefit amounts, which may have already been paid as money back components

Check Before U Buy

The most crucial aspect is reading the terms and conditions thoroughly and understanding each clause well.
Money back policy provides additional optional benefits such as critical illness benefits, additional term benefit, accidental death benefit and waiver of premium benefit. Check if your selected insured provide it or Not?
Check on the Minimum number of years for which the premium is to be paid to keep the policy alive, Surrender charges and tax benefit rules.