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Money Back Plan: Should I buy Offline Or Online?

Updated On Sep 08, 2021

Money Back Policy is a well-known insurance policy offered by Life Insurance Company to help you improve your future. As a policyholder, you will receive a lump sum payment equal to a percentage of the total insured under this plan. Money-Back Options provides a choice of plans based on your needs. It pays you the amount guaranteed on the policy's maturity date. In this article, we will examine the advantages of both online and offline purchasing for you to have a better grasp of both platforms and to be able to select the best after thoroughly knowing it. 

Benefits of Purchasing Money Back Plans Online

When purchasing a Money Back Policy online, you can take advantage of several benefits. The  following are some of the perks:

1. Compare and Contrast Different Plans

When you purchase a plan in an Online Mode through agents, you can simply compare several plans and their features and pick the best one, but you cannot use this function when you purchase a plan in an Offline Mode through agents. The agents, on the other hand, will only demand or persuade you to buy a policy from their business rather than from any other.

2.  Cost and Sum Assured 

Online Plans are reported to be 30-70% less expensive than Offline Plans. Purchasing a plan in an online mode does not need the use of an agent, which removes the need for an agent's commission. The average amount guaranteed with an online plan is greater 

3. Flexibility

Online Plans provide you with greater freedom as well as a wide range of alternatives to help you select the best one for your requirements. Because there would be no agent, you will have to investigate the plan and features on your own when purchasing the insurance online. There is no possibility of mistakes or incorrect information in an online mode, as opposed to an offline mode when such information is obtained via agents. 

4. Access To A Brand

In an Online Mode, you get unlimited access to a brand's whole website, which is available 24 hours a day, seven days a week via an Internet connection. Agents, on the other hand, are unable to offer you such access. They will just make promises and will be able to keep them, however, an Online Mode Insurance Company will not be able to do so.

Also read - Money Back Plan V/S Term Insurance

Advantages of Buying Money-Back  Plans Offline 

Once you've decided to get a Money Back plan, the following step is to go to your closest bank office. The importance of information cannot be overstated, and the bank will be able to offer you. There are several advantages to purchasing the Money Back Policy Offline. These are some of the advantages:

1. Assured Sum 

Higher sum promised in an online mode may just be a marketing ploy used by Life Insurance Companies. Policyholders are enticed to acquire such extensive coverage even if they do not need it. This is when getting an Offline Life Insurance Policy may be a better option. 

2. Rider Advantages 

Online plans only provide Death Benefits and Accidental Death Coverage, which must be purchased separately. Online plans, on the other hand, do not provide Accidental Death Benefit, Critical Illness Rider, Permanent Disability Benefit, and so forth. These perks, however, are only available with Offline Plans. 


In terms of ease, lower functional costs, flexibility, absence of paperwork, transparency, and rapid access, online insurance companies outperform offline insurance companies. There are several reputable aggregators accessible online to assist you in resolving application-related issues. Choosing Online Money Back Plans will allow you to get many benefits.

You may also like to read - Am I Eligible To Buy A Money Back Policy?

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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