Money Back Policy: Compare the Plans Available in India

Top Money Back Plans: Compare the Plans Available in India
Conclusion

A money back policy is a plan that pays you periodical installments of a portion of the maturity benefit well before the scheme period expires. Instead of receiving a single lump sum payment at the conclusion of the policy's term or upon death, the policyholder will get periodical payouts as long as they are still living. No additional payments will be provided through the policy after the death benefit has been paid out or the maturity date has been reached, though. The different money back plans in India are listed and compared below.

Top Money Back Plans: Compare the Plans Available in India

The list below comprises of some of the most well-liked money back policies in India:

1. Max Life Monthly Income Advantage Plan

This participating, non-linked plan offers guaranteed monthly income after 10 years of the period for paying the premiums. Based on their unique needs, policyholders can choose the monthly premium they desire to invest. In addition to the investment benefit, policyholders can purchase up to 25 years of life insurance.

2. Aviva Dhan Samruddhi

This insurance programme is non-participating and unlinked, and until the policy matures, guaranteed money back payments are made every five years. Through the dividends, you can receive up to 125% of the annual premium as cash. Every year, bonuses between 7% and 9% of the annual premium are promised to you.

3. Reliance Nippon Life Super Money Back Plan

Until the conclusion of the policy lifetime, this non-participating, non-linked plan will pay you cashback every five years. Only the first half of the chosen scheme's term requires premium payment. Through loyalty additions, your overall savings grow yearly, and the insurance also offers a maturation bonus as a survival reward at the conclusion of the policy period.

4. HDFC Life Super Income Plan

This compensation structure is minimal, non-linked, and participatory. The insured individual receives cashback for the remaining insurance term after the premium payment tenure has concluded. So, once you stop paying premiums, you can continue to get earnings on a yearly basis for 8 to 15 years. If a death benefit is requested, the money back invoices end.

5. Smart Money Back Gold

This participating plan offers cashback at predetermined times over the duration of the policy. The length of the policy determines when you receive a refund. At the conclusion of the programme or as a death benefit, you will additionally receive earned incentives and the residual sum insured. The bare minimum premium is 400 rupees.

Money Back Policy	Premium Payment	Policy Tenure	Minimum age	Maximum age	Maturity age	Minimum Amount
Max life monthly income advantage plan	twelve or fifteen years yearly, semi-yearly, quarterly, and monthly	22 years, and 25 years	18 years	50-55 years	75-77 years	Rs.3.24 lakh – Rs.4.05 lakh
Aviva Dhan Samruddhi	Annual, semi-annual, quarterly, and monthly for ten years	10 years, 15 years, and 20 years	13 years	55 years	23-70 years	Rs.1 lakh
Reliance Nippon life super money back plan	Limited Annual, semi-annual, quarterly, or monthly payments during the first half of the insurance term	10 years, 20 years, 30 years, 40 years, and 50 years	18 years	55 years	28-80 years	Rs.1 lakh
HDFC life super income plan	Limited Pay: Annual, Semi-Annual, Quarterly, and Monthly for 8, 10, or 12 Years	16 years, 18 years, 20 years, 22 years, 24 years, and 27 years	20 days- 2 years	48-59 years	18-75 years	Rs.1,28337
Smart money back gold	Annual, semi-annual, quarterly, and monthly regular payments	12 years, 15 years, 20 years, and 25 years	14-15 years	44-45 years	27-70 years	Rs.75,000

Conclusion

Choosing the right money back policy is essential for you to secure a future. Check the different policies offered in India and then make a wise decision depending on your needs.

Also read: Take A Look At The Best Money Back Plans

Money Back Life Insurance Policy- All You Need to Know Before Investing

Disclaimer

This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.