Money Back schemes protect you from the financial interests of your family such as the death of the policyholder or any serious sickness of the policyholder. The episodic payments generate money to meet financial commitments in major stages of life. So, to select an appropriate Money Back Life Insurance Policy for your requirements know here about the best money back policy in India.
Money back plans provide a right mixture of investment and insurance. Keep your family protected monetarily.
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What Is Money Back Plan?
A money back plan is an insurance type which provides payment after a few years of purchasing the plan. And this money back plan continues throughout the life. It creates a certain premium for a conservative person, looking for a safe cover with a guaranteed return.
Money back plan is one of the most popular life insurance plans in India. The benefit of the death of the policyholder often gets paid, if the policy holder stays alive. These packages include both investment and insurance plans.
The money back plan in India is perfect for those who need an absolute return on their deal, and in addition to regular payments at the same time, they are looking for insurance cover only on the money of the premium.
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Features of Best Money Back Policy in India
There are several benefits of best money back policy in India such as LIC Money back policy or other life insurance cover for the investor. The fact is that Life insurance companies have come up with many benefits for those who are looking for a money back plan as an investment co-insurance option. In addition, most companies regularly come up with new plans with various new features and benefits.
This benefit will be payable only if the insurer is alive in case of an unfortunate event, which does not accumulate more in these living benefits on the death of the insured. In such cases, the nominee receives the full maturity amount, no matter how much the bonus has been received; the money back plan provides regular income with the maturity benefit such as the standard life insurance policy.
Money back plans are a good way to plan for a regular income and big expenses in the future.
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There is some best money back policy in India:
Let’s know in details about the best money back policy in India below:
AEGON Life Regular Money Back Insurance Plan
This plan has a money back plan with live coverage. Generally, people between 7 days to 55 years can buy this type of plan. AEGON Life Regular Money Back Insurance Plan has 20 years of policy term.
LIC Money Back Policy
This type is traditional contributing and expected plan with money back facility. People between 13 years to 50 years can buy this type of plan. LIC Money Back Policy has 20 year policy term.
SBI Money Back Policy
This one is a saving plan with live coverage.
Bajaj Allianz Money Back Plan
Bajaj Allianz money back plan is a traditional money back plan. Bajaj Allianz money back plan has 16 years, 20 years, 24 years, and 28 years of policy term.
HDFC Money Back Policy
This one is a traditional contributing plan with life coverage which has 16 to 27 years policy term.
Reliance Money Back Policy
Reliance money back policy is a no participating, no linked, no variable plan with life coverage. Reliance Money Back Plan has 10 years, 20 years, 30 years, 40 years, and 50 years of policy term. People between 18 years to 55 years can buy this type of plan.
Compare profits, features, premiums, and reviews before buying it.
So, if you are planning to but an insurance policy then you should try this money back insurance plan next time.