A money-back policy is the policy that promises to give money back at regular intervals.

Under a money-back policy a certain percentage of the sum assured is paid to the policyholder at regular intervals called as Survival Benefit and the remaining amount of the sum assured is paid at the time of maturity along with the amount of bonus if any.

In case of sudden demise of the policyholder during the tenure of the policy the full Sum Assured is paid to the nominee irrespective of the amount of Survival Benefit that has already been paid.

This money-back features makes this a policy unique and different from other policies.

In case of a money-back policy the policyholder has the benefit of adding additional riders.

• Under the money-back policy the policyholder get a certain percentage of the sum assured at regular intervals and the remaining amount at the time of maturity of the policy. In case of death of the policyholder, the nominee gets the entire sum assured apart from the survival benefit already paid. Hence this policy guarantees money back.
• The survival benefits acts a second source of income for the policy holder and can be used to meet any future expenses. Hence it provides income for the lifetime to the policyholder.
• The nominee gets the entire sum assured and the amount of bonus if any in case of the death of the policyholder and hence takes care of the family of the policyholder in their absence.
• The amount of bonus is paid with the sum assured. Hence the final amount paid is comparatively higher.
• Additional rider can be opted for in the policy like personal accident. Critical illness, or a term rider.

• Money-back policies have low risk exposure and are hence suitable for individual who have a low risk appetite.
• Money-back policies provide a regular source of income for the policyholders and their families.
• Money-back policy provides insurance coverage and thus provides financial support to your family members in case anything happens to you.
• You may grow your wealth with a money-back policy as you do not lose anything on your investments and rather can grow them with time.