The purpose of investing in the insurance policy in India for your loved ones can be to create wealth over an extended period. A moneyback policy helps in providing liquidity facility and pays out a percentage of the sum assured amount consistently at the time of policy tenure. It pays a percentage of the assured sum throughout the policy tenure, unlike other types of life insurance plans that offer no returns till maturity. An average money back policy with a 20 year tenure would thus pay the policyholder what is known as a ‘Survival Benefit’ a few years after the start of the policy. Around 20% of the Sum Assured would be paid out periodically, while the balance would be paid out at the time of policy maturity with a bonus, if any.
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As you approach different stages in life, there are dreams and aspirations that you set out for yourself and your family. But this does not set you free from the day to day responsibilities of managing house, paying for health expenses, school fees etc. To help you ensure that none of this is compromised for the other, a money back plan can fulfill your dreams uninterrupted.
What Is A Moneyback Policy
What does moneyback policy cover?
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- Provides insurance cover during the policy term.
- Pays out regular benefits throughout the term.
- Works as an insurance policy as well as a long-term investment with good returns.
- Provides tax benefits.
- Less risky than other investments offering similar returns like mutual funds.
- Enables long-term savings and regular income.
- Ensures that amounts are disbursed regularly.
- Some plans extend the insurance coverage guaranteed death benefits even after the maturity date and the last survival period, up to when the life insured attains the age of 100.
- There are optional riders that cover things like specific illnesses, critical illnesses, disabilities, etc.
One of the most cost efffective plans
Term Insurance Plan With Return On Premium
Secure your family and get back your premium.
Group Life Insurance
A single contract covers an entire group of people
A financial plan ensures financial support at every milestone of your child's life
Importance of Moneyback Policy
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