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What Are Suitable Riders For A Money Back Policy?

Updated On Oct 01, 2021

A Money Back Plan is a type of life insurance policy that allows the insured to receive periodical reimbursements as part of the policy's survival benefit during the policy term. As a reward for surviving, insurance companies offer a survival benefit, making it an excellent investment strategy. While most life insurance policies offer this benefit after the policy period, the money return policy is unusual in that it continues to pay the beneficiary throughout the policy duration. The policyholder will receive regular payouts throughout his or her life term, rather than a single lump-sum payment after the policy period or at death. Adding riders to your money-back guarantee will increase its profitability.

Riders Suitable with Money-Back Plans

There is a list provided below to assist you in selecting riders that are appropriate for the package you have chosen -

  • Rider With Guaranteed Insurability

The life guarantee is provided to this rider to let them acquire additional coverage throughout the policy duration. When there has been a significant change in your lifestyles, such as the birth of a child, marriage, or an increase in your salary, a guaranteed insurability rider shows the most benefits. If your health deteriorates as you age, you will be able to obtain more coverage without providing any proof. In the end, this rider may give a renewal of your basic policy.

  • Death Rider By Accident

If the insured dies in an accident, an accidental death rider gives the life guaranteed an additional amount of death benefit. In most cases, the additional benefit paid in the event of the death of the life guaranteed due to an accident is equal to the policy's death benefit. This indicates that the advantage is multiplied by two. The life assured's family receives twice the value of the policy if he or she dies as a result of an accident. This is why it's also known as a double indemnity rider. If you are your family's sole income source, an accidental death rider might be a wise option, since the twofold benefit will ensure that your surviving family is adequately cared for.

  • Premium Rider Waiver

Under this rider, future premiums are canceled if the life guaranteed suffers permanent incapacity or loses income as a result of an injury or sickness before reaching a specified age. In such cases, the rider spares the life assured from having to pay the standard policy's premium until they are ready to return to work. The phrase "completely handicapped" means various things to different insurers. As a result, it is recommended that you exercise caution while selecting the terms and circumstances of your individual rider.

  • Rider For Family Income Benefit

If the life assured dies by accident, a family income benefit rider will give a regular stream of income to the life assured's family. When purchasing this, you must specify the years in which your family will get the benefit. The benefit of having this rider is that if the life guaranteed dies, the surviving family is financially supported.

  • Term Rider For Children

The insured person's kid is covered under the Child Term Rider. It's also a supplemental add-on option to your policy that offers death benefit coverage if your child dies before reaching the age of maturity.


You can opt to add different riders to your money-back plan to improve your life's security. These riders assist you in covering many parts of your life. Money-back insurance riders are fantastic investment options, with benefits ranging from maturity to survival to death, among other things. Check out these fantastic perks you may get your hands on, with a rider on money return plan, if you're keen to invest in a safe and profitable investment choice and establish a secure future for your loved ones' future requirements.

Also read: Are Money Back Plans Worth Investing Your Money In?

Common Exclusions Under 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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