Money-back policies

Money-back policies 

• Money-back policies combine the dual benefits of savings and insurance, and are somewhat similar to endowment plans in terms of features. 
• In an endowment plan, the policyholder receives the maturity benefit at the end of the policy term. However, in money-back policies ‘partial survival benefits’ are paid to the policyholder during the term of the policy at specific intervals.
• The policyholder may receive the survival benefits in fixed proportions or variable proportions during the policy term as per the terms and conditions of the policy. 
• The benefits received by the policyholder at specific intervals are tax-free according to prevailing tax laws. 
• If the policyholder dies during the policy term, the nominee or beneficiary receives the entire sum insured along with the accrued bonus (if any) without the deduction of survival benefits that have already been paid to the insured.

Anand Khemka
+91-9910936925
+91-8287041341