Affordable Money Back Plans In India

Updated On Jul 08, 2021

Why Should You Invest Your Money in a Money Back Plan?
Conclusion

Money Back Plans are different from other policies as they come with multiple benefits. You do not have to wait for the maturity period to arrive in order to claim the Benefits. Money Back Plans give you an option of the secondary income source in the form of Survival Benefits. So, whenever you are in need of urgent funds the Money Back Plan is there to help you out.

Why Should You Invest Your Money in a Money Back Plan?

The Money Back Plans are affordable and they come with multiple benefits. From a variety of Additional Riders that can be added to increase and enhance the cover to numerous benefits which are paid at multiple periods.

Survival Benefit

These are the Cash Backs because of which these plans are mostly known for. These Monetary Values are a percentage of the Sum Assured which are paid at different intervals which are fixed during the tenure of the policy.

Death Benefit

In case of the sudden demise of the insured, the insurer pays the Death Benefit to the nominee. This amount includes the Sum Assured and all the Accrued Bonuses. The Survival Benefits which are paid till the death of the insured are deducted from the sum assured and then the remaining value is paid out.

Maturity Benefit

Just like any other Traditional Endowment Plan the Maturity Benefit is paid once the policy term is over. This amount is the remaining value after the deduction of the Survival Benefits but includes the Accrued Bonuses and any Additional Bonus that was announced by the insurer during the initiation of the Policy.

In this Article, We will discuss the best and most affordable Money Back Plans

List of Affordable Money Back Plans

We have prepared a list of the best and most affordable Money Back Plans which are available in India.

BSLI Vision Money Back Plus Plan	Policy Tenure of 20, 24 and 25 Years	Minimum Entry Age- 13 Years Maximum Entry Age- 45 Years	Minimum Sum Assured of Rs. 1,00,000
Bajaj Allianz Cash Assure	Policy Tenure of 16,20, 24 and 28 Years.	Minimum Entry Age - 0 Years Maximum Entry Age- 54 Years	Minimum Sum Assured of Rs. 1,00,000
HDFC Life Super Income Plan	Policy Tenure of 16-27 Years	Minimum Entry Age- 30 for 18 to 27 Years of Policy Tenure and 2 Years for 16 Years of Policy Tenure Maximum Entry Age- 48 Years for a Policy Term of 27 Years. 51 Years for a Policy Term of 24 Years. 53 Years for a Policy Term of 22 Years.	Minimum Sum Assured of Rs. 1,28,377.
ICICI Pru Cash Advantage	Policy Tenure of 15, 17 or 20 Years	Minimum Entry Age - 0 Years Maximum Entry Age- 60 Years.	Minimum Sum Assured of 1,00,000
IndiaFirst Cash Back Plan	Policy Tenure of 9, 12 and 15 Years.	Minimum Entry Age- 15 years Maximum Entry Age- 55 years	Minimum Sum Assured- Rs. 50,000.
Reliance Super Money Back Plan	Policy Tenure of 10, 20,30,40 and 50 Years.	Minimum Entry Age- 18 Years Maximum Entry Age- 55 Years	Minimum Sum Assured- Rs. 1,00,000.
SBI Life Smart Money Back Gold	Policy tenure of 12, 15, 20, 25 Years.	Minimum Entry Age- 15 Years for Policy Terms of 12 and 15 Years and 14 Years for a Policy Tenure of 20 and 25 Years. Maximum Entry Age- 55 Years for a Policy Tenure of 12 and 15 Years, 50 Years for a Policy Tenure of 20 Years and 45 Years for a Policy Tenure of 25 Years.	Minimum Sum Assured of Rs. 75,000.
TATA AIA Life Insurance Money Back Plus	Policy Tenure of 16, 20 and 24 Years	Minimum Entry Age- 2 Years Maximum Entry Age- 51 Years	Minimum Sum Assured of Rs. 2,00,000.
LIC Money Back Plus Policy (20 Years)	Policy Tenure of 20 Years	Minimum Entry Age- 13 Years Maximum Entry Age- 50 Years	Minimum Sum Assured of Rs. 1,00,000.
PNB Metlife Money Back Plan	Policy Tenure of 10 Years	Minimum Entry Age- 13 Years Maximum Entry Age- 55 Years	Minimum Sum Assured of Rs. 2,50,000.

Conclusion

You can choose between all these Money Back Plans as they are affordable and are not heavy on the pocket. With these affordable plans you can secure your family's future and also meet the financial needs which may arise suddenly.