The money-back policy from Life Insurance Corporation in India is a popular insurance policy.
It provides life coverage during the term of the policy and the maturity benefits are paid in installments by way of survival benefits in every 5 years. The plan is available with 20 years and 25 years term.
What is a money back insurance plan?
Money back plans mean that money is returned to the life insured as a survival benefit after a set period. When the policyholder survives the policy term, the money back is guaranteed.
In the event of the policyholder’s death, the nominee receives the amount guaranteed as well as any accumulated bonuses, if any.
What are the benefits of money back policy?
Money back plan is a type of life insurance plan that provides twin benefits of investment and protection.
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As the name suggests, these plans offer you money at regular intervals and give out lump sum money in case of an unfortunate event.
Is money back policy a term insurance?
A moneyback life insurance is an endowment plan which will provide you with a life cover for a specific term.
This plan will give you returns at regular intervals during the policy term. These returns are known as survival benefits.
Which money back policy is bes?
The Tata AIA Life Insurance Money Back Plus Plan is a combination of life insurance and savings.
Throughout the life of the plan, guaranteed payments are provided at regular intervals. For added security, this plan includes an accident benefit.
