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What Are The Common Exclusions Under Money Back Insurance Plans?

Money Back Life Insurance Policy is a non- linked, participating, individual Life Insurance plan. This plan takes care of you and your family needs during crucial times. It provides you dual benefits of life cover as well as regular source of income at periodic intervals to create wealth to fulfill financial limitations at difficult times. Money Back Life Insurance Policy comes in the list of one of the most popular and high rated plans. 

Money Back Plan is an ideal option for those who are looking for life Insurance cover facility, investment for long term, regular source of income during the lifetime in a single plan. Unlike other plans the benefits are paid during the plan term and at the time of maturity, the left Sum Assured amount is paid along with additional  bonuses if any. However, if in case of an unfortunate event you die during the plan tenure, the wholesome amount  assured is paid  to the nominee of the policy irrespective of the Survival Benefits which have already been paid. This nature of the Money Back Plan makes it unique from other available plans. 

In this Article, we are going to discuss some of the common exclusions under Money Back Insurance Plans. 

Common Exclusions of Money Back Plans

There are following common exclusions for which policy do not provide compensations : 

  • Life-Threatening Activity 

Dangerous and adventure activities are not included under Money Back Plan due to high life risk associated with these activities as a result they will not be covered under such plans. Adventure Activities include rock climbing, paragliding, hang gliding, sky diving and more related activities.

  • Pre-Existing Diseases 

Money Back Policy does not cover or compensate for death due to pre existing disease. The policyholder has been suffering from the time they have applied for the policy or can be prior to applying. Disease such as Cancer, HIV AIDS,and many more. 

  • Suicide 

Money Back Life Insurance Policy does not provide any coverage or compensation under the event of death due to suicide. Most of the policies do not cover this event. But if the same has taken place during the period of 2 years from the policy commencement date, in such cases death benefit is not paid to the nominee but the nominee might get 80% of the total premiums paid for the policy till Death depends on the terms and conditions of the policy.

  • Participation in Criminal and Illegal Acts 

Money Back Life Insurance Policy and other insurance policies purchased by any insurer does not provide coverage for the risk posed by participation in any criminal or unlawful activities. Such unlawful activities are like driving after drinking alcohol, consumption of drugs, injury due to car accidents in which he/she was not wearing a seat belt.

  • War Related Incidents

Money Back Policy along with other insurance policies does not provide any coverage or compensation if the policyholder died due to war or war related activities. Policy will not generate death benefits to the nominee. This standard exclusion in a life insurance policy which may be less common in older days than it is now. 


Considering all the above mentioned exclusions under Money Back Life Insurance Policy. Money Back Policy is a financial tool which provides financial safety nets to your loved ones in misfortune events. Therefore, it is essential for every buyer to go through the terms and conditions of the policy and read the entire document carefully what it offers and what not before going for the policy.

Must Read: Features and Benefits of LIC Money Back Plan 20 Years

Benefits Of 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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