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Can I Get An Affordable Price While Buying A Money Back Insurance Plan?

Updated On Jul 06, 2021

Money Back Plans are different from other policies as they come with multiple benefits. You don't 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. 

Choosing a Money Back Plan

The Money Back Plans are meant to be chosen according to your paying capacity and the duration you want to stay invested. The Money Back Plans do offer a secondary source of income which sounds very tempting, however the value of the survival benefits is decided taking the tenure of the investment, the premiums meant to be paid and the market percentage into consideration. 

It does not mean that these plans are expensive, rather they have less risk involved. You just need to make sure that you keep in mind the amount that you want to invest. This is because this invested amount will be directly proportional to the value of the benefits that you will receive. 

List of Benefits under the Money Back Plan

  • Guaranteed Survival Benefit
  •  Maturity Benefit
  • Death Benefit
  • Additional Riders

Top 10 Affordable Money Back Plans

Below we have listed out the 10 best affordable Money Back Plans to choose best from. 

  • BSLI Vision Money Back Plus

This Plan is offered by Aditya Birla group and is considered to be the most renowned Money Back Plan in the insurance market. Policy tenure can be of 20, 24 and 25 years with a sum assured of  Rs. 1,00,000.

  • Bajaj Allianz Cash Assure

This plan offered by Bajaj Allianz has multiple tenures to choose from. It starts with 16 years and goes to 20, 24 and 28 years. The Sum Assured under this plan is minimum of Rs. 1,00,000.

  • HDFC Life Super Income Plan

The banking and insurance institution of HDFC offers a Money Back Plan with tenure of 16-27 years and guarantees a sum assured of minimum Rs. 1,28,377.

  • ICICI pru cash advantage

Another banking and insurance institution who has a Money Back Plan available for the tenure of 15,17 or 20 years. At maturity you are guaranteed to receive a minimum amount of Rs. 1,00,000.

  • IndiaFirst Cash Back Plan

The IndiaFirst Money Back Plan offers a tenure of 9, 12 or 15 years with a guaranteed sum assured of minimum Rs. 50,000.

  • Reliance Super Money Back Plan

Reliance is known for its amazing customer friendly products. And in case of insurance policies it does not stay behind. This plan has a maturity term of 10, 20, 30, 40 or 50 years with a guaranteed minimum sum assured of Rs. 1,00,000.

  • SBI Life Smart Money Back Gold

One more banking and insurance institution on the list and it comes with an offer of tenure from 12, 15, 20, 25 years. The plan comes with a minimum sum assured of Rs. 75,000.

  • TATA AIA Life Insurance Money Back Plus

Another giant venture which offers a Money Back Plan with a wide range of tenures from 16, 20 or 24 years and a minimum sum assured at maturity which will be Rs. 2,00,000.

  • LIC Money Back Policy (20 years) 

LIC is a household name in terms of insurance policies. This Policy plan comes with a tenure of 20  years and offers a minimum sum assured of Rs. 1,00,000.

  • PNB MetLife Money Back Plan

Punjab National Bank in association with MetLife has a Money Back Plan with a tenure of 10 years and has a minimum sum assured attached to it with a value of Rs 2,50,000.


As you can see all these plans have their own advantages and disadvantages, however the important part is that the sum assured that is mentioned under the list for each policy plan is the minimum sum assured. These amounts have been calculated after deduction of the survival benefits which will be a percentage of the total sum assured amount. So, it does not mean that you will be paying for such small amounts, rather you will be getting this sum assured as well as the survival benefits as a secondary source of income. 

Also read 

How Can I Apply For Claims Under My Money Back Plan?

Why Do I Need a Money Back Insurance Plan?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.                    

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