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What Type of Riders Are Suitable for Money Back Plans?

Updated On Jul 23, 2021

A Money Back Plan is a form of life insurance policy that permits the insured to collect reimbursements on a regular basis as part of the policy's survival benefit during the policy term. Insurance companies provide a survival benefit as a reward for survival, making it an effective investment plan.

While most life insurance plans provide this benefit at the end of the policy period, the money back policy is unique in that it pays the beneficiary continuously during the policy term. Instead of a single lump payment at the end of the policy period or at death, the policyholder will receive recurring payouts for the remainder of his or her life term. Adding riders to your money back policy will make it even more profitable. 

What Type of Riders Are Suitable for Money Back Plans?

Here is a list of suitable riders which can be added to a Money Back Plan to make it more profitable in the long run. 

1. Premium Waiver Benefit Rider

The Premium Waiver Rider, as the name implies, assists you in waiving your future premium amounts in the event of an accident or incident that leaves you badly injured, critically ill, incapacitated, or in such a position that you are unable to pay the remaining future premiums. In such instances, the premium waiver benefit rider gives you the option of continuing your policy without paying future premiums.

2. Return Of Premium Rider

A Return Of Premium Rider reimburses you for the premiums you have paid to the firm to date. If you find yourself in a situation in your life where, instead of paying money, you find yourself in need of a large sum of money all at once. In this instance, you can use the premium rider return to recover the premium you have paid up to that point.

3. Accidental Death Rider

An Accidental Death Rider provides accidental death benefits and can be added to either a whole life term policy or a term plan. It focuses on enhancing the death benefits you will receive in the event of a tragic accident. In this case, your nominee receives not only the death benefits, but also double or triple the sum guaranteed.

4. Family Income Benefit Rider

A Family Income Benefit Rider offers an identical amount of monthly payouts to your policy's first nominee in the event of your untimely death due to an accident, for example.

5. Child Term Rider

The Child Term Rider is purchased for the insured person's child. It is also a supplemental add-on feature to your policy that provides you with death benefit coverage if your child dies unexpectedly before reaching the maturity age.

6. Accelerated Death Benefit Rider

The Accelerated Death Benefit Rider, often known as the ADB, is a terminal illness benefit that is included in your policy at no extra cost and provides you with additional coverage if you are expecting a short life due to a critical illness or disease, such as end-stage cancer or a chronic disease.

7. Guaranteed Insurability Rider

This rider increases your coverage at particular ages or after life events such as marriage or the birth of a child without requiring you to purchase a new policy or undergo a new medical exam. If your financial obligations increase over time, these policy upgrades can help keep your insurance in place. You will have to pay for each increase in coverage, but changes in your health will not affect your new rate.


Riders on money back insurance are excellent investment possibilities, with advantages ranging from maturity to surviving to death, among other things. If you are eager to invest in a safe and successful investment option and create a secure future for your loved ones' future needs, check out these wonderful benefits you can get your hands on, with a rider on money return plan.

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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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