Tips to Buy Money Back Plans Online
Updated On Jul 12, 2021
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Money Back Plans are the combination of Insurance Plans and Investment Plans. These Plans provide a Regular Secondary source of income rather than just the Lump Sum Amount at the end of the Policy Terms. Money Back Plans are an ideal choice for those who are seeking both Protection from uncertainties and a Source of Income. The Money Back Plans provide Guaranteed Return on Investment at Regular Intervals. The Policyholder receives the Maturity Benefit at the end of the Policy Term and Periodic Payments in the form of ‘Survival Benefits’. This means not only the Policyholder is protected but gets a secure and Assured Additional Source of Income which he or she can use to meet the needs of Emergency Funds and also use them to Increase Wealth.
How to Choose the Best Money Back Plan?
Before Purchasing a Money Back Plan it is suggested to compare the Benefits such as the Sum assured, Policy Term, Availability of Adding Riders, and the percentage of the Survival Benefits and their Duration. Just keep the below-mentioned factors in mind to choose the Best Money Back Plan-
- Value of the Sum Assured
Normally there are no upper limits of the Sum Assured in Money Back Plans, however, it is always better to look at the Sum Assured because it directly affects the value of the Premium that you will pay.
Additional features play a major role in enhancing the scope of the cover. You should choose the one that does provide Additional Features such as Riders and Bonuses.
The Best Plans will include the famous and most important Riders that can be added to the Existing Cover.
It is important to check the Amount of the Premium that you will pay because you have to make sure that it will not affect the normal flow of Income and Expenses.
Documents required while Purchasing Money Back Plans Online
- Age Proof
- Address Proof
- Completion of the Application Form
- Medical Documents if required
Steps to Purchase Money Back Plan Online
With the introduction of the Internet and Technology, everything is now at your Fingertips. This is the same case with purchasing a Money Back Plan. There are many options available and many companies are offering Money Back Plans with various Benefits. All these companies have their dedicated websites and user interface, however, the procedure in each one remains the same.
Step1- You need to visit the Official Website of the Insurance Company.
Step 2- Then once you are on the home page you need to select the life Insurance Category.
Step 3- After this, you need to press or select the option that says ‘Buy’ or ‘Purchase’ the Policy.
Step 4- Now select the Policy and Riders of your choice.
Step 5- Input the Required Details and submit the Documents.
Step 6- Once you have provided all the required details the system will show you the quote and Terms and Conditions.
Step 7- Then you will be asked to pay the initial Premium Amount.
Step 8- The Payment confirmation page will pop up that will show you the details of Payment.
Step 9- In the end, you will receive the Policy Documents and other details at your Email Address.
These are the tips that will help you to compare, confirm and purchase the Money Back Plans Online. For those who do not want to take risks and want to build a Secure Future with Guaranteed Returns and Income, a Money Back Plan is the Best Option.
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.