What is Money Back policy?
Money back policy is a mix of investment and insurance protection. Hence, it turns out to be an ideal choice with a double benefit package.
What is a Money back plan?
The money back insurance plan concept is similar to regular insurance plans except for the cash flow system. In a regular insurance policy setup, the policy nominee will receive a lump sum as a death benefit after the death of the policyholder. In the money-back insurance plans, payouts are issued at regular time intervals throughout the policy timeframe. The regular cash flow system is a highlight feature in the policy plan.
Why should one opt for a money back life insurance policy?
The money-back insurance policy acts as a steady source of income during the plan period. The returns would assist your short-term financial goals. The money-back plan is a mix of investment and insurance protection. Hence, it turns out to be an ideal choice with a double benefit package.
The plan gives the policyholder regular steady benefits rather than a hefty settlement at the end. The policyholder will enjoy maturity benefits along with survival benefits during the policy period. Individuals opting for a money-back insurance policy get the opportunity to save and build their wealth.
