Compare & Buy Car, Bike and Health Insurance Online - InsuranceDekho
Claim, renew, manage & moreLogin
Hurry Up!
Save upto ₹54,600 in taxes under 80C & 80D. Buy a term insurance plan now!
View Plans

Money Back Policy Riders

Updated On Jan 21, 2022

A Money Back Plan is a form of life insurance policy that allows the insured to receive periodic reimbursements as part of the policy's survival benefit while the policy is in force. Insurance companies provide a survival benefit as a reward for surviving, making it a good investment strategy. While most life insurance plans provide this benefit after the policy period, the money return policy is unique in that it continues to pay the recipient for the duration of the policy. Instead of a single lump-sum payment at the end of the policy duration or at death, the policyholder will receive recurring payouts during his or her life term. Including riders to your money-back promise will boost its profitability.

Money Back Policy Riders

Riders Suitable for Money-Back Plans

A list is provided below to aid you in picking riders who are suited for the package you have selected -

  • Rider With Assured Insurability

The life guarantee is supplied to this rider in order for them to obtain additional coverage for the length of the policy. A guaranteed insurability rider provides the most benefits when there has been a significant change in your lifestyle, such as the birth of a child, marriage, or a rise in your wage. If your health deteriorates as you get older, you will be able to get extra coverage without having to provide any proof. Finally, this rider may provide a renewal of your basic insurance.

  • Accidental Death Rider

If the insured dies in an accident, an accidental death rider provides an additional amount of death benefit to the life guaranteed. In most situations, the additional benefit paid in the event of the death of the insured life due to an accident is equivalent to the death benefit of the policy. This means that the benefit has been multiplied by two. If the life assured dies in an accident, his or her family receives twice the value of the insurance. This is why it is sometimes referred to as a double indemnity rider. If you are your family's sole source of income, an accidental death rider may be a prudent investment because the two-pronged benefit will ensure that your surviving family is well-cared for.

  • Premium Waiver  Rider

Future payments are canceled under this rider if the life guaranteed suffers permanent disability or loses income as a result of an injury or illness before reaching a certain age. In such instances, the rider exempts the life assured from paying the ordinary policy's premium until they are ready to return to work. To different insurers, the phrase "totally handicapped" means different things. As a result, it is advised that you use prudence while deciding on the terms and conditions of your unique rider.

  • Term Rider 

It is similar to a term life insurance policy in that it allows the insured to arrange a term insurance payout to the beneficiary in the event that they do not survive the period of the money pack plan. As with a term plan, the nominee or insured receives no payment if the life assured survives the policy period.

  • Rider for Hospital Cash Benefits

This insurance rider allows the policyholder to receive daily cash for any hospitalization expenses incurred during the policy term. In general, insurance companies require that the insured person stay hospitalized for a minimum of 48 days. This rider also includes numerous perks including operations, critical care unit stays, and so on.


When purchasing a money-back insurance plan, you can also choose to purchase additional riders for additional protection at a low rate. Some of the most regularly available riders, along with a money-back guarantee, are listed above; you can use these riders to gain comprehensive coverage from your insurance policy.

Also read- How to Choose a Money Back Policy

Features of 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.

Popularly Opted Term Insurance Sum Assured

People Also Read

Must BuyMust Buy

Why to Buy Life Insurance Policy Online from InsuranceDekho

  • Tax benefit upto 1,50,000*
  • Claim support everyday 10AM-7PM
  • 66 Lacs+ happy customers