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Money Back Policy: An Overview and Key Details

Published On Jun 05, 2021 2:30 PM By InsuranceDekho

If you want to contribute towards a financially secure future for yourself as well as your family, a Money Back Plan is one of the best options. Moreover, it also helps cater to the many milestones you will have in life, as it facilitates regular payouts during the policy term. 

Money back plans are participating policies and may also accrue bonuses. There are many more benefits that are available under a money back policy. This article will help readers get a better idea of what money back policies entail.

Benefits Available Under A Money Back Policy

The following are the benefits that are available under a money back plan:

1. Survival Benefits 

Money back plans are defined by their ability to provide Survival Benefits. Survival Benefits are paid out at regular intervals and their amount is a percentage of the Sum Assured under the money back plan. Different policies have different payout structures but the payouts are given out at fixed intervals during the policy term. 

2. Maturity Benefits

The maturity benefits from a money back plan are paid out at the end of the policy term. It is paid out to the policyholder and they must survive till maturity of the plan to receive this benefit. All accrued bonuses are also paid out at this time. 

3. Death Benefit

The death benefits are given out if the policyholder passes away before the money back plan reaches the end of the policy term. The amount of the death benefit given out is regardless of the survival benefits that have been paid out during the policy term.

4. Rider Benefits

Money back plans also allow policyholders to add on riders to their basic money back policy. Riders enhance the protective cover given by a money back plan and are especially beneficial in compromising circumstances that incur more expenses than usual. 

Key Features of Money Back Plans

Money back plans are a popular and advantageous form of savings and insurance. These key features of money back plans are an exhibit of such:

  • They have survival benefits that help to provide for costs without having to liquidate the whole plan
  • Money back policies are low-risk policies that guarantee safe returns
  • Policyholders can accumulate bonuses throughout the policy term  


Money back plans are an easy and convenient savings option. They have multiple benefits that help policyholders keep their present as well their future, stable and secure. There are many different money back plans that are available in the market. Nevertheless, they are mostly dictated by the above mentioned general benefits and features.

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