Need A Financial Product Forums Insurance What do you mean by a Money Back Insurance?

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    Nidhi Arora
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    What do you mean by a Money Back Insurance?

    #47659

    Chintan Shah
    Member

    A money back insurance plan is one that combines the dual benefits of savings and insurance and is similar to the features of the endowment plans in which the policyholder receives the maturity benefit at the end of the policy term. In the money back plans, the partial survival benefits are paid to the policyholder during the policy term at specific intervals. There are three plans under this scheme namely – the new money back plan that lasts for about 20 years before maturity, the new money back plan that lasts for about 25 years before maturity and the new bima bachat.

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