Benefit of Money Back Policy

Benefits under Money Back Policy:-

• The benefits under money back policies premiums can be paid as per the insurance company’s policy. These could be quarterly, half yearly or annually. The premiums for these policies are payable for the selected term of years, or till death if it occurs earlier.
• By buying such policies one can receive income at regular intervals other than the risk cover it provides. Also a good amount of bonus on the full sum assured is quite a good bargain.
• Money back life insurance policies offer the dual benefits of insurance and redemption of money at regular intervals.
• These policies fit perfectly in the scheme of things of traditional savings, for people who seek financial instruments that provide insurance and savings elements, coupled with low risk element and guaranteed returns.
• It creates a longterm savings opportunity with a reasonable rate of return, especially since the payout is considered exempt from tax except under specified situations.