Money Back Policy

In addition to Maturity Benefits, a Money Back policy provides policyholders with Survival Benefits as well as investment options.
A normal money return policy with a 20-year term would therefore pay the insured a 'Survival Benefit' a few years after the policy began. Around 20% of the Sum Assured would be paid out on a regular basis, with the remainder paid out at policy maturity, together with any bonuses.
If the insured person does not live to the maturity date of the policy, the nominee will receive the Death Benefit (the total Sum Assured) and the policy will be canceled.

Features Of Money Back Policy

As listed below, the money return policy offers a number of unique features that set it apart from other life insurance products:

• Money back plans offer low-risk investing opportunities as well as insurance coverage to policyholders.
  
• For the duration of the policy, the plans give a steady flow of income in the form of 'Survival Benefits.'
  
• The entire Sum Assured is paid out to the nominee if the policyholder dies during the policy term, regardless of the amount already paid out under the Survival Benefits.

Benefits Of Money Back Insurance

Prime benefits of money back insurance include:

• Provides Insurance: Money back policies are superior insurance instruments. Based on their specific requirements, customers can choose an ideal cover so that the financial requirements of their loved ones can be met without any concern.
  
• Provides Sum Assured: Money back policies offer sum assured as a lump sum amount to the nominee in case of death of the policyholder. The sum can be used to cover the expenses of the nominee, allowing them to live a peaceful life free of financial worries. It is worth noting that if the insured lives to the end of the policy term, they will receive survival payments at policy maturity.The insured can use the sum assured amount received (survival benefit) to fulfill their financial goals like dream house, child’s education, retirement, and more.
  
• Comes with Low-Profile Risk: Guaranteed returns are provided through money back plans at regular periods. Money back plans, unlike other investment products such as bonds, shares, mutual funds, and others, are untouched by market movements.Money back plan is an ideal choice for you if you are not the type to invest in a high-risk instrument.
  
• Provides Returns Within a Few Years of Investing: Money back plans act as a regular source of income. Unlike a traditional life insurance plan, they offer a regular stream of money at regular intervals.
• Provides Additional Bonuses: Every year, a bonus is added to the money-back policy. It is worth noting that this incentive is only paid out when the account reaches maturity.One of the best things about this bonus is that they help one in fulfilling their financial goals.
  
• Provides Tax Benefits: Money back plans offer tax benefits as per Section 80C of the Income Act of 1961. The sum assured is also tax free under Section 10(10D) of the Income Tax Act of 1961.

Why Choose InsuranceDekho?

Need reasons to choose us? Here are some:

• Quick Policy Issuance: If you want your money back policy to be quickly issued, InsuranceDekho would be the best place. The process is simple and would require you to provide your personal details, compare the options, buy the best plan, and make the payment after submitting necessary documents.
• Availability of Top Plans: InsuranceDekho in partnership with the best life insurance companies in India will provide you with a diverse range of money back policies to choose from.
• Dedicated Customer Service: InsuranceDekho has a customer assistance team available 24x7 for the customers so that they get the best possible solution to all their money back policy concerns.

How To Buy Money Back Plans With InsuranceDekho?

.Follow these steps to buy money back plans with InsuranceDekho:

• Submit Details: Provide your name, gender, date of birth and mobile number. Click on the ‘View Instant Quotes’ button to find the available quotes.
• Comparison of Quotes: You will get different insurance quotes on the basis of details you provide. Compare the available plans based on the quotes.
• Make The Payment: After you have chosen the ideal plan, adjust the sum assured as well as the policy term. Go ahead with the premium payment once everything is finalized. Use modes like netbanking or debit/credit card.
• Submit Necessary Documents: Submit photo ID proof, address proof, age proof, and a passport size photograph in addition to required medical documents.