What is a money-back insurance policy?

A money-back insurance policy is a coverage that gives money back at regular intervals. It is a percentage of the sum assured that is paid during the tenure of the insurance plan. The pay-outs are known as “Survival Benefits.” They are paid out during the term of the policy and on the maturity of the protection plan. In the event of the demise of the policy owner, the beneficiary will receive the entire amount in a lump sum. This is what makes the insurance plan stand out from the other policies. Contact Harpreet Puri today to find out more information.

Key benefits of a money-back insurance policy:

• The policy offers the help of an investment plan as well as an insurance policy.
• Policyholders are entitled to receive tax benefits when they purchase money-back policies.
• The policy holders’ insurance is covered during the plan’s term.
• During the term of the policy, the insurer offers regular pay-outs to the policyholder.
• Help in saving for the future
• Can purchase a list of term riders with a money back life insurance policy.

Reasons to buy a money-back insurance policy:

Unlike a typical insurance policy where the beneficiaries of the policy owner receive the death benefit, money-back policies offer survival benefits. The best part is the insurer pays these survival benefits at regular intervals on the plan’s tenure. Additionally, the policy owner, apart from survival benefits, gets death benefits as well.

This plan is a stable source of income as the pay-outs are in regular intervals. The policyholder can plan his retirement with the pay-outs received. The returns are guaranteed, and they also provide financial protection to the beneficiaries of the policy owner. The policy is also a fantastic opportunity to make profits on investment.

List of riders that can purchase along with a money back life insurance policy:

1. Accidental Death Rider: In the unfortunate event the policy holder meets with accidental death, this rider provides coverage as defined in the rider guidelines. As an additional benefit, the policy owners’ beneficiaries will receive a lump sum amount.
2. Term Rider: This rider provides the policy owner with a waiver from paying the premium amount under certain circumstances. Additionally, the policy still provides coverage to the policyholder.
3. Critical Illness Rider: If the policyholder contracts a critical illness, this rider provides the policyholder with financial assistance.
4. Hospitalization Rider: If the policyholder is hospitalized, this rider provides help in paying the hospital bills. A daily allowance is issued to the policyholder to cover expenses related to treatment.

Get Money-back life insurance in Brampton with Harpreet puri. Call 416-543-9000 today for expert advice or further inquiries.