Under a money back plan you get the survival benefits in instalments throughout the policy term or till the life assured is alive.
In case of the 20 year Money Back Policy, you will receive 20% of the sum assured each after 5, 10 and 15 years and the remaining 40% along with the accrued bonus will be paid at the end of the 20th year.
For the 25 year Money Back Policy, you will receive 15% of the sum assured each, at the end of 5, 10, 15, 20 years and the balance amount of 40% will be paid at the end of the 25th year.
- In case the life assured dies within the policy term, the death claim will comprise of the full sum assured and there will be no deduction and the bonus too shall be calculated on the sum assured.
- Availability of surrender value
- Guaranteed surrender value of 30% of premiums paid after first year.
- Way for gaining a regular income