Money Back Insurance – A cushion to your financial loss

These policies are a combination put together of more than one endowment plans. It gives a lump-sum at a predefined time.

These policies are perfect for those who want to plan for some mid-term goals or benefits.

These policies are preferred by HNI’s, professionals and are all time favourite for families planning holiday or specific event.

The insurance cover stays intact during the term if the policy is kept in force.

SILENT FEATURES

  • Regular premium policies as well as Single premium policies are available.
  • One can add Rider benefits depending upon their need.
  • Conditions varies across companies.
  • Fixed amounts Received at Fixed Intervals.
  • Riders are available.
  • All modes of investment are available.

Sanghavi’s Recommendation:

  • These policies are must have for HNI’s, professionals and families who want money on regular intervals.
  • Corporates use these products as part of their Employee Retention Scheme.
  • Policies used by many to plan their holidays at regular interval or to take care of mid-term requirements.
Health Insurance
Title Description
Details Money Back is a participating non-linked plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term. This unique combination provides financial support for the family of the deceased policyholder any time before maturity and lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs of the family.
Death Benefit On unexpected demise of the policy holder, his/her nominee will receive death benefit from the Insurance Company which is Tax Free.
Critical Illness Benefit At maturity the policy holder receives maturity benefit from the insurance company which is tax Free as well as Survival Benefits.
Features and Conditions

Minimum & Maximum age at Entry: Varies from company to company

Minimum & Maximum Term: Varies from company to company

Minimum & Maximum Sum Assured: Varies from company to company

Conditions varies from company to company.

Tax Benefits

Tax Benefits for Individuals: As per Government & Regulatory body’s Guidelines

Tax Benefits for Corporates: As per Government & Regulatory body’s Guidelines


Example: A person aged 20 buys a Money Back policy for 20 years term with periodic payment at every 5 years.

Case 1: Death happening at age 32; Case 2: Survives till maturity.

Age at Entry 20
Benefit at 25
Benefit at 30
Death Benefit Maturity Benefit
If there happens an unexpected demise of policy holder in the policy term, nominee gets sum assured plus bonuses if any. Benefits are tax free. The policy ends here At Maturity the policy holder receives sum assured with the payment at interval of 5 years (i.e., payment at age 25, 30, 35, 40 and 45) plus bonuses if any. Benefits are tax free.

Age at Entry 20
Benefit at 25
Benefit at 30
Benefit at 35
Maturity at 40

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