Money Back Plan is a type of endowment life insurance policy that provides periodic survival benefits to the policyholder. Some key points: - Survival benefits are paid as a percentage of the sum assured after fixed intervals, such as every 5 years. - The full death benefit of the sum assured is paid out if the policyholder passes away, regardless of any survival benefits already received. - Money Back Plans offer liquidity to the policyholder and can be used for needs like children's education over the term of the policy.

1. MONEY BACK PLAN

2. Money Back Plan
 Money Back Plan is a special type of life insurance policy
that falls under Endowment Plans.
 In Insurance language it is called Anticipated Endowment
Plans and commonly known as Money Back Policies.

3. Money Back Plan
 A Money Back Policy is an endowment with a liquidity
benefit.
 It simply means that in Money Back Plans, the money
comes back to the Life Insured after a specific interval of
time as Survival Benefit.

4. Survival Benefits
 The Maturity Benefit comes in installments instead of a
lump sum at the end. It is called ‘Survival Benefits’.
 Each installment is a percentage of the sum assured.
 The remaining bit comes as Maturity Benefit at the end
of the policy term.

5. Survival Benefits
 Unlike ordinary endowment insurance plans where the
survival benefits are payable only at the end of the
endowment period, this scheme provides for periodic
payments of partial survival benefits as follows during
the term of the policy, of course so long as the policy
holder is alive.

6. Understand better
 For example, suppose if you are having a 20-year Money-Back Policy, 20%
of the sum assured becomes payable each after 5, 10, 15 years, and the
balance of 40% plus the accrued bonus become payable at the 20th year.
 And for a Money-Back Policy of 25 years, 15% of the sum assured becomes
payable each after 5, 10, 15 and 20 years, and the balance 40% plus the
accrued bonus become payable at the 25th year.

7. Important features
 An important feature of this type of policies is that in the event of
death at any time within the policy term.
 the death claim comprises full sum assured without deducting
any of the survival benefit amounts, which have already been
paid.
 Similarly, the bonus is also calculated on the full sum assured.

8. Who should buy Money Back Policies?
 Money Back Insurance Policies should be taken by someone who might require
money at regular and specific intervals, like children’ s education, etc.
 Also because the Death Benefit is guaranteed irrespective of the Survival Benefits
already paid.
 Thus, if the Life Insured dies on the year of the policy maturity even after receiving
4 Survival Benefit, the nominee would get the entire Sum Assured and not a
reduced one.
 You can also save tax as the premiums paid and the money received in
installments are tax-free.

9. Be smart
 You should always compare and consult with experts like
Thepolicykart to find the best money back policy for your family
before making a purchase.

10. Thank you…